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Appendix B
STATISTICAL 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 national product, 1929-84 232B-2, Gross national product in 1972 dollars, 1929-84 234B-3. Implicit price deflators for gross national product, 1929-84 236B-4. Fixed-weighted price indexes for gross national product, 1972
weights, 1959-84 238B-5. Changes in gross national product, personal consumption expendi-
tures, and related price measures, 1929-84 239B-6. Gross national product by major type of product, 1929-84 240B-7. Gross national product by major type of product in 1972 dollars,
1929-84 241B-8. Gross national product by sector, 1929-84 242B-9. Gross national product by sector in 1972 dollars, 1929-84 243B-10. Gross national product by industry, 1947-83 244B-ll . Gross national product by industry in 1972 dollars, 1947-83 245B-12. Gross domestic product of nonfmancial corporate business, 1929-
84 246B-l3. Output, costs, and profits of nonfmancial corporate business,
1948-84 247B-14. Personal consumption expenditures, 1929-84 248B-15. Gross and net private domestic investment, 1929-84 250B-16. Gross and net private domestic investment in 1972 dollars, 1929-
84 251B-17. Inventories and final sales of business, 1946-84 252B-18. Inventories and final sales of business in 1972 dollars, 1947-84 253B-l9. Relation of gross national product, net national product, and na-
tional income, 1929-84 254B-20. Relation of national income and personal income, 1929-84 255B-21. National income by type of income, 1929-84 256B-22. Sources of personal income, 1929-84 258B-23. Disposition of personal income, 1929-84 260B-24. Total and per capita disposable personal income and personal con-
sumption expenditures in current and 1972 dollars, 1929-84 261B-25. Gross saving and investment, 1929-84 262B-26. Saving by individuals, 1946-84 263B-27. Number and median income (in 1983 dollars) of families and per-
sons, and poverty status, by race, selected years, 1947-83 264
POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY:B-28. Population by age groups, 1929-84 265B-29. Population and the labor force, 1929-84 266B-30. Civilian employment and unemployment by sex and age, 1947-84 .. 268B-31. Unemployment by duration and reason, 1947-84 269
227
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Page
B-32. Civilian labor force participation rate and civilian employment/population ratio, 1948-84 270
B-33. Unemployment rate, 1948-84 271B-34. Civilian labor force participation rate by demographic characteris-
tic, 1954-84 272B-35. Civilian unemployment rate by demographic characteristic, 1948-
84 , 273B-36. Unemployment insurance programs, selected data, 1955-84 274B-37. Wage and salary workers in nonagricultural establishments, 1929-
84 275B-38. Average weekly hours and hourly earnings in selected private non-
agricultural industries, 1947-84 276B-39. Average weekly earnings in selected private nonagricultural indus-
tries, 1947-84 277B-40. Productivity and related data, business sector, 1947-84 278B-41. Changes in productivity and related data, business sector, 1948-84. 279
PRODUCTION AND BUSINESS ACTIVITY:B-42. Industrial production indexes, major industry divisions, 1929-84.... 280B-43. Industrial production indexes, market groupings, 1947-84 281B-44. Industrial production indexes, selected manufactures, 1947-84 282B-45. Capacity utilization rate in manufacturing, 1948-84 283B-46. New construction activity, 1929-84 284B-47. New housing units started and authorized, 1959-84 286B-48. Nonfarm business expenditures for new plant and equipment,
1947-85 287B-49. Sales and inventories in manufacturing and trade, 1947-84 288B-50. Manufacturers' shipments and inventories, 1947-84 289B-51. Manufacturers' new and unfilled orders, 1947-84 290
PRICES:B-52. Consumer price indexes, major expenditure classes, 1946-84 291B-53. Consumer price indexes, selected expenditure classes, 1946-84 292B-54. Consumer price indexes, commodities, services, and special
groups, 1940-84 294B-55. Changes in consumer price indexes, 1958-84 295B-56. Changes in consumer price indexes, commodities and services,
1929-84 296B-57, Producer price indexes by stage of processing, 1947-84 297B-58. Producer price indexes by stage of processing, special groups,
1974-84 299B-59. Producer price indexes for major commodity groups, 1947-84 300B-60. Changes in producer price indexes for finished goods, 1950-84 302
MONEY STOCK, CREDIT, AND FINANCE:B-61. Money stock, liquid assets, and debt measures, 1959-84 303B-62. Components of money stock measures and liquid assets, 1959-84... 304B-63. Aggregate reserves of depository institutions and monetary base,
1959-84 306B-64. Commercial bank loans and investments, 1972-84 307B-65. Total funds raised in credit markets by nonfinancial sectors, 1975-
84 308B-66. Bond yields and interest rates, 1929-84 310B-67. Consumer credit outstanding, 1950-84 312
228
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B-68. Net change in consumer credit outstanding, 1950-84 313B-69. Mortgage debt outstanding by type of property and of financing,
1939-84 314B-70. Mortgage debt outstanding by holder, 1939-84 315
GOVERNMENT FINANCE:B-71. Federal budget receipts, outlays, and debt, fiscal years 1976-86 316B-72. Federal budget receipts, outlays, components, and debt, selected
fiscal years, 1929-86 318B-73. Relation of Federal Government receipts and expenditures in the
national income and product accounts to the unified budget,fiscal years 1984-86 319
B-74. Federal and State and local government receipts and expenditures,national income and product accounts, 1929-84 320
B-75. Federal and State and local,government receipts and expenditures,national income and product accounts, by major type, 1929-84 ... 321
B-76. Federal Government receipts and expenditures, national incomeand product accounts, 1960-86 322
B-77. State and local government receipts and expenditures, nationalincome and product accounts, 1946-84 323
B-78. State and local government revenues and expenditures, selectedfiscal years, 1927-83 324
B-79. Interest-bearing public debt securities by kind of obligation, 1967-84 '. 325
B-80. Maturity distribution and average length of marketable interest-bearing public debt securities held by private investors, 1967-84. 326
B-81. Estimated ownership of public debt securities, 1976-84 327
CORPORATE PROFITS AND FINANCE:B-82. Corporate profits with inventory valuation and capital consumption
adjustments, 1929-84 328B-83. Corporate profits by industry, 1929-84 329B-84. Corporate profits of manufacturing industries, 1929-84 330B-85. Sales, profits, and stockholders' equity, all manufacturing corpora-
tions, 1950-84 331B-86. Relation of profits after taxes to stockholders1 equity and to sales,
all manufacturing corporations, 1947-84 332B-87. Sources and uses of funds, nonfarm nonfinancial corporate busi-
ness, 1946-84 333B-88. Current assets and liabilities of U.S. corporations, 1940-84 334B-89. State and municipal and business securities offered, 1934-84 335B-90. Common stock prices and yields, 1949-84 336B-91. Business formation and business failures, 1940-84 337
AGRICULTURE:B-92. Farm income, 1929-84 338B-93. Farm output and productivity indexes, 1929-84 339B-94. Farm input use, selected inputs, 1929-84 340B-95. Indexes of prices received and prices paid by farmers, 1946-84 341B-96. U.S. exports and imports of agricultural commodities, 1940-84 342B-97. Balance sheet of the farming sector, 1929-85 343
INTERNATIONAL STATISTICS:
B-98. U.S. international transactions, 1946-84 344
229
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B-99. U.S. merchandise exports and imports by principal end-use catego- °&e
ry, 1965-84 346B-100. U.S. merchandise exports and imports by area, 1975-84 347B-101, U.S. merchandise exports and imports by commodity groups,
1965-84 348B-102. International investment position of the United States at year-end,
1976-83 349B-103. International reserves, selected years, 1952-84 350B-104. Exchange rates, 1967-84 351B-105. World trade: Exports and imports, 1965, 1970, 1975, and 1980-84 352B-106. World trade balance and current account balances 1965, 1970,
1975, and 1980-84 353B-107. Industrial production and consumer prices, major industrial coun-
tries, 1960-84 354B-108. Civilian unemployment rate, and hourly compensation, major in-
dustrial countries, 1960-84 355B-109. Growth rates in real gross national product, 1961-84 356
230
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General Notes
Detail in these tables may not add to totals becauseUnless otherwise noted,Symbols used:
p Preliminary.Not available
of rounding.all dollar figures are in current dollars.
(also, not applicable).
231Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
NATIONAL INCOME OR EXPENDITURE
TABLE B-l.—Gross national product, 1929-84
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year orquarter
nation-al
prod-uct
Personal consumptionexpenditures
TotalDura-
blegoods
Non-dura- Serv-
Gross private domestic investment
Total
Fixed investment
Total
Nonresidential
Total Struc-tures
Pro-ducers'
dur-able
equip-ment
Residential
TotalNon-farm
struc-tures
Farmstruc-tures
Pro-ducers'
dur-able
equip-ment
Changein
busi-nessinven-tories
192919331939
19401941194219431944194519461947194819491950195119521953195419551956195719581959
196019611962196319641965 .1966196719681969
1970197119721973197419751976197719781979
19801981198219831984 *
1982:
\iZZZZ.iniv
1983:IIIIllIV
1984:
IV P
103.455.890.9
100.0125.0158.5192.1210.6212.4209.8233.1259.5258.3
286.5330.8348.0366.8366.8400.0421.7444.0449.7487.9
506.5524.6565.0596.7637.7691.1756.0799.6873.4944.0
99271,077.61,185.91,326.41,434.21,549.21,718.01,918.32,163.92,417.8
2,631.72,957.83,069.33,304.83,661.3
3,026.03,061.23,080.13,109.6
3,173.83,267.03,346.63,431.7
3,553.33,644.73,694.63,752.5
77.345.867.0
71.080.888.699,4
108.2119.5143.8161.7174.7178.1
192.0207.1217.1229.7235.8253.7266.0280.4289.5310.8
324.9335.0355.2374.6400.5430.4465.1490,3536.9581.8
621.7672.2737.1812.0888.1976.4
1.084.31,204.41,346.51,507.2
1,668.11,849.11,984.92,155.92,342.3
1,931.31,960.92,001.32,046.1
2,070.42,141.62,181.42.230.2
2,276.52,332.72,361.42,398.6
9.23.56.7
7.89.76.96.56.78.0
15.820.422.925.0
30.829.829.132.531.838.637.939.336.842.4
43.141.646.751.456.463.068.070,180.585.7
85.297.2
111.1123.3121,5132.2156.8178.2200.2213.4
214.7235.4245.1279.8318.4
239.4241.6244.5255.0
259.4276.1284.1299.8
310.9320.7317.2324.7
37.722.335.1
37.042.950.858.664.371.982.790.996.694.9
98.2108.8113.9116.5118.0122.9128.9135.2139.8146.4
151.1155.3161.6167.1176.9188.6204.7212.6230.6247.8
265.7278.8300.6333.4373.4407.3441.7478.8528.2600.0
668.8730.7757,5801.7858.3
746.4750.6762.5770.6
775.2796.9811.7823.0
841.3858.3861,4872.1
30.320.125.2
26.228.231.034.337.139.645.350.455.358.2
63.068.574.080.686.192.199.2
105.9112.8121.9
130.7138.1147.0156.1167.1178.7192.4207.6225.8248.2
270.8296.2325.3355.2393.2437.0485.7547.4618.0693.7
784.5883.0982.2
1,074.41,165.7
945.4968.6994.2
1,020.6
1,035.81,068.61,085.71,107.5
1,124.41,153.71,182.81,201.8
16.21.49.3
13.117.99.95.87.2
10.630.734.045.935.3
53.859.252.153.352.768.471.069.261.978.1
75.974.885.490.997.4
113.5125.7122.8133.3149.3
144.2166.4195.0229.8228.7206.1257.9324.1386.6423.0
401.9484.2414.9471.6637.3
436.2431.2415.9376.2
405.0449.6491.9540.0
623.8627.0662.8635.5
14.53.08,8
10.913.48.16.48.1
11.724.334.441.138.4
47.048.949.052.954.362.466.367.963.472.5
72.972.579.284.991.7
103.7111.6112.5125.4139.5
141.0158.8184.8211.3214.5213.0
fo!:8360.1408.8411.7458.1441.0485.1580.4
453.2442.1431.3437.3
447.9469.0496.2527.3
550.0576.4591.0604.3
10.62.45.9
7.59.46.05.06.9
10.116.923.026.324.4
27.331.331.334.534.238.544.047.042.045.9
48.548.052.254.861.072.783.183.990.7
101.3
103.9107.9121.0143.3156.6157.7174.1205.2248.9290.2
308.8353.9349.6352.9426.0
365.7351.2342.2339.3
334.6339.3353.9383,9
398.8420.8435.7448.9
5.11.02.0
2.33.01.91.41.92.86.97.79.08.7
9.511.411.612.913.414.617.718.417.217.6
18.819.120.120.522.427.030.130.332.436.7
38.740.544.151.055.955.458.864.478.798.3
110.9135.3142.1129.7150.3
148.8142.7138.4138.4
130.4125.6126.2136.6
142.2150.0151.4157.5
5.51.43.9
5,26.44.13.75.07.39.9
15.317.315.7
17.819.919.721.520.823.926.328.624.928.3
29.728.932.134.438.745.853.053.758.264.6
65.267.476.992.3
100.7102,3115.3140.8170.2191.9
197.9218.6207.5223.2275.7
216.9208.5203.8201.0
204.2213.6227.8247.3
256.7270.7284.2291.4
3.9.6
2.9
3.44.02.21.41.31.57.4
11.414.913.9
19.817.617.718.420.123.922.320.921.426.6
24.524.527.030.130.730.928.528.634.838.2
37.150.963.868.057.955.372.095.8
111.2118.6
102.9104.391.4
132.2154.4
87.590.9
97,9
113.3129.8142.3143.4
151.2155.6155.3155.4
3.6
27
3.23.61.91.21.11.46.7
10.413.712.8
18.616.416.517.319.022.821.219.720.325.3
23.323.225.828.929.429.627.127.233.336.5
35.448.961.565.654.852.468.892.0
107.0114.0
99.886.6
127.6149.3
83.485.984.592.5
108.9125.3137.7138.7
146.4150.5150.1150.2
0.1.0.1
.1
.1
.1
.0
.0
.0
.2
.3
.3
.4
.4
.4
.4
.4
.4
.5
.5
.5
.5'.B.67.77.9
1.0
1.11.31.51.71.81.92.12.32.52.9
3.03.23.33.64.0
3.94.14.04.1
17= 1.6
2.24.51.8
- . 6-1 .0-1 .0
6.4- . 54.7
-3 .1
6.810.33.1
- 1 . 56.0471.3
-1 .55.7
3.02.36.36.05,69.9
14.110.37.99.8
3.27.7
10.218,514.1
-6 .911.823.026.514.3
=9.826.0
—26.1= 13.5
56.8
-17.0-=10.9-15.3-61.1
-42.9-19.4=4.312.7
73.850.671.831.1
See next page for continuation of table.
232
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-l.—Gross national product, 1929-84—Continued
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year or quarter
19291933.1939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
I960196119621963196419651966196719681969
1970197119721973197419751976197719781979
19801981198219831984"
1982:I||IllIV
1983:1IIIllIV
1984:
||IIIIV P
Net exports of goods andservices
Netexports
1.14
1.2
1.815.2
19- 1 7
578
11.9696.5
2.2443.2132.5305.3733.31.4
5.56.66.47.6
1018.8656.3434.2
674.1
714.213 426.813 84 0
- 1 . 113.2
23 928.019.0
- 8 366 3
27.735 5666.3
19.6- 6 516 4
-29.8
- 5 1 5- 5 8 7
90 6643
Exports
7.0244.6
5.4615.04.65.574
15.120.217.516.3
14.419.719.118.018.721.025.028.124.224.8
28.929.931.834.238841.144.647.352 457.5
65 768.877 5
109.61462154.91709182.7218.7281.4
338 8369.9348.4336.2363.7
359.4366.3346 3321.7
328.5328.1342 0346.1
358.9362.4368.6364.7
Imports
5.92.03.4
3.6474.86.57.2797.38.3
10.59.8
12.215.315.916.716.218.019.820.821.023.4
23.423.325.426.628 832.338.141.048.153.3
59 064.776 795.4
132.8128.11571186.7219.8268.1
314 8341.9329.4344.4429.9
331.7330.8339.7315.4
308.9334.5358.4375.9
410.4421.1459.3429.0
Government purchases of goods andservices
Total
8.882
13.5
14.224 959.888.997.082 827 525.532 038.4
38.560175.682 575.875.079.487.195.097.6
100.3108.2118.0123.7129 8138.4158 7180.2199.0208.8
2201234.92531270.43041339.93621393.8431.9474.4
537 8596.5650.5685.5748.0
630.9633.7656 3681.0
678.8682.2689.8691.4
704.4743.77610782.7
Federal
Total
1.42 15.2
6.116952.081.389.474 617.612.716.720.4
18.738.352.457.547.944.545.950.053.953.9
53.757.463.764.665.267.378.890.998.097.6
95 796.2
1017102.0111.0122.7129 2143.4153.6168.3
197 0228.9258.9269.7295.5
249.8245.0261.6279.4
273.0270.5269.2266.3
267.6296.4302.0316.1
Nation-al
defense
1.2
2.213 749.479.787.473 514.89.0
10.713.2
14.033.545.848.641.138.440.244.045.645.6
44.547.051.150.349.049.460.371.576.976.3
73.670.273.172.877.083.086 092.8
100.3111.8
1312153.7179.5200.5221.5
168.4175.3183.3191.0
194.7199.3200.9207.2
213.4220.8220.3231.4
Non-de-
fense
3.9
3.9322.61.62.0112.83.7607.2
4.7486.5896.86.05.75.98.38.3
9.310.412.714.316.217.818.519.521.221.2
22 226.028 529.133 939.743 250.653.356.5
65 975.279.469.374.0
81.469.778.288.4
78.371.368.359.1
54.275.681.784.6
Stateandlocal
7.46 18.3
8.1807.87.57.6829.9
12.815.318.0
19.821.823.225 027.830.633.537.141.143.7
46.550.854.359.064.671.179.889.3
101.0111.2
124.4138.7151.4168.5193.1217.22329250.4278.3306.0
340.8367.6391.5415.8452.4
381.1388.7394.7401.6
405.8411.6420.6425.1
436.8447.4458.9466.6
Finalsales
101.757.490.5
97.8120.6156.7192.8211.6213.5203.5233.5254.8261.4
279.7320.5344.8366.3368.4394.1417.0442.6451.2482.2
503.6522.2558.8590.7632.1681.2741.9789.3865.5934.2
989.51,070.01,175.71,307.91,420.11,556.11,706.21,895.32,137.42,403.5
2,641.52,931.73,095.43,318.33,604.4
3,043.13,072.13,095.53,170.8
3,216.83,286.43,350.93,419.0
3,479.53,594.13,622.83,721.4
Percent changefrom preceding
Grossnation-
alprod-uct
6.6- 4 2
7.0
10.025 026.721.39.6
9-1 .211.111.3
5
10.915.55.254.0
9.05,45.31.38.5
3.83.67.75.66.98.49.45.89.28.1
5.28.6
10.111.88.18.0
10.911.712.811.7
8.812.43.87.7
10.8
.24.72.53.9
8.512.310.110.6
14.910.75.66.4
Finalsales
- 5 65.3
8.123 230.023.09.8
9-4 .714.89.12.6
7.014.67.662
.67.05.86.11.96.9
4.43.77.05.77.07.88.96.49.77.9
5.98.19.9
11.28.69.69.6
11.112.812.4
9.911.05.67,28.6
4.63.93.1
10.1
5.98.98.18.4
7.313.fi3.2
11.3
1 Changes are based on unrounded data and therefore may differ slightly from changes computed from data shown here.Source: Department of Commerce, Bureau of Economic Analysis.
233
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TABLE B-2.—Gross national product in 1972 dollars, 1929-84
[Billions of 1972 dollars, except as noted; quarterly data 3t seasonally adjusted annual rates]
Year orquarter
Grossnationalproduct
Personal consumptionexpenditures
Total Durable Non-Jurabtgoods
durable Services
Gross private domestic investment
Total
Fixed investment
Total
Nonresidential
Total Struc-tures
Produc-ers'
durableequip-ment
Residential
TotalNon-farmstruc-tures
Farmstruc-tures
Produc-ers'
durableequip-ment
inbusi-ness
inven-tories
19291933193919401941194219431944194519461947194819491950195119521953195419551956195719581959196019S11962196319641965196619671968196919701971197219731974197519761977 .1978197919801981198219831984 ".1982:
315.7222.1319.8344.1400.4461.7531.6569.1560.4478.3470.3489.8492.2534.8579.4600.8623.6616.1657.5671.6683.8680.9721.7
737.2756.6800.3832.5876.4929.3984.8
1,011.41,058.11,087.61,085.61,122.41,185.91,254.31,246.31,231.61,298.21,369.71,438.61,479.41,475.01,512.21,480.0
215.1170.5219.8229.9243.6241.1248.2255.2270.9301.0305.8312.2319.3337.3341.6350.1363.4370.0394.1405.4413.8418.0440.4452.0461.4482.0500.5528.0557.5585.7602.7634.4657.9672.1696.8737.1767.9762.8779.4823.1864.3903.2927.6931.8950.5963.3
1,534.7 1,009.21,639.0 1,062.6
IIIIV
1983:IIIIllIV
1984:IIIIllI V
1,483.51,480.51,477.11,478.8
1,491.0
953.7958.9964.2976.3
982.51,524.8 1,006.21,550.21,572.7
1,015.61,032.4
1,610.9 1,044.11,638.81,645.21,661.11,645.2 1,065.9
1,064.21,065.91,076.2
20.910.718.621.224.215.714.013.014.425.430.132.535.542.639.138.042.142.551.148,848.645.350.751.449.354.759.764.872.678.479.588,391.889.198.2
111.1121.3112.3112.7126.6138.0146.8147.2
137.5140.9140.!1571177.9
138.5138.8139.3145.2
146.8156.2159.6167.2
173,7178.6177.0182.1
98.182.9
115.1119.9127.6129.9134.0139.4150.3158.9154.8155.0157.4161.8165.3171.2175.7177.0185.4191.6194.9196.8205.0208.2211.9218.5223.0233.3244.0255.5259.5270.5277.3283.7288.7300.6307.4302.5307.5321.9333.4344.4353.1355.6360.8363.1376.3394.2
360.5362.0363.7366.0
368.8374.9378.5383.2
387.1396.6395.5397.5
96.176,986.188.891.895.5
100.2102.8106.3116.7120.S124.7126.5132.9137.2140.9145.6150.5157.6165.0170.3175.9184.8192.4200.2208.8217.8229.8240.9251.8263.7275.6288.8299.3309.9325.3339.2348.0359.3374.7393.0412.0427.3438.8448.8459.8475.4490.6
454.7458.1461.2465.1
466.8475.1477.6482.0
483.4488.9493.5496.6
55.88.4
33.644.555.829.518.119.727.770.970.082.165493.593.983.085.383.1
103.8102.697.087.5
108.0104.7103.9117.6125.1133.0151.9163.0154.9161.61714158.5173.9195.0217.5195.5154.8184.5214.2236.7236.3208.5230.9194.3221.0289.7
204.7200.4194.3177.8
191.3212.6230.6249.5
285.5283.9300.2289.1
51.213.232.038.343.824.318.022.031.458.770.276.669.883.080.278.783.885.396.196.395.589.3
100.9101.2100.9109.7117.5125.9140.1146.2142.7152.6160.4154.8165.8184.8200.4183.9161.5176.7200.9220.7229.1212.9219.6204.7224.6265.5
211.4204.5200.7202.4
207.8218.7229.8242.2
253.9263.7269.6274.9
37.510420.925.830.417.614.018.727.642.148.951.146.050.052.952.156.355.461.365.466.259.363.666.966.772.075.182.797.4
108.0105.6109.5116.8113.8112.2121.0138.1135.7119.3125.6140.3158.3169.9165.8175.0166.9171.0205.2
175.2166.9163.9161.5
161.6165.3172.6184.5
193.3202.9209.5215.1
21.15.08.7
10.012.06.84.25.58.3
18.917.418.417.919.220.720.622.623.625.428.328.426.827.429.530.231.631.934.440.643.442.042.845.043.942.844.147.443.638.339.540.444.649.148.853.253.349.256.9
55.453.752451.9
49.048.148.351.4
54.156.857.159.6
16.45.5
12.115.818.510.99.8
13.219.223.231.532.628.130.832.231.533.731.835.937.037.832.536.237.436.540.443.148.356.864.563.666.871,869.969.376.990.792.181.186.199.9
113.7120.8117.0121.8113.5121.8148.3
119.8113.2111.5109.7
112.5117.2124.3133.1
139.2146.01524155.5
13.72.8
11.112.513.36.74.0343.8
16.621.325.623.833.027.326.627.529,934.831.529.230.037.434.234.337.742.543.142.738.237.143.143.641.053.763.862.348.242.251.260.762.459.147.144.537.953.760.3
36.237.636.840.8
46.253457.257.8
60.660.860.159.8
13.02.5
10.411.612.36.03.53.03.4
15.319.723.822.1
31.325.725.126.128.533.530.027.828.635,932.932.836.340.941.541.236.635.441.341.739.251.661.559.945.339.848.757.959.556.344.242.035.351.257.6
33.935.034.438.1
43.851.054.755.2
58.058.157.357.0
0.6
'.6.8.9.644.3
1.11.31.51.41.31.31.21.21.1.9
1.01.0.9
1.0.8
1.0.9.9.9.8.9.9.8.9.6
'.$1.1
0.1.1.1.1.2,1,0.0.1
.3
.3
.3
.3
.3
'.2444.5.6
.5
.6
.6
7.8.8.9
1.11.11.31,51.71.71.61.71.8IS2J2.02.01.92.12.3
1.91.91.91.9
2.02.12.12.2
2.22.32.32.4
4.6-4 .9
1.66.2
12.05.2
~2i3- 3 . 612.2— 25 5
= 4 410.613.74.31.5
-2 .27.75.81.5
-1 .87.03.53.07.87.57.1
11.816.812.29.0
11.13.88.1
10.217.211.6
-6 .77.8
13.316.07.3
-4 .411.3
- 1 0 4-3 .624.2
-6 .7-4 .0- 6 4
-24.6
= 16.5-6 .1
.97.2
31.620.330.614.2
See next page for continuation of table.
234
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-2.—Gross national product in 1972 dollars, 1929-84—Continued
[Billions of 1972 dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
I960196119621963196419651966196719681969
197019711972197319741975 .19761977 . . •19781979
19801981198219831984"
1982:IItHIIV
1983:
IIIIIIV
1984:|||IIII V
Net exports of goods andservices
Netexports
3.7,4
3.4
4.43.2
- . 6-5 .9- 6 . 2-3 .713.218.910.810.7
5.910.17.94.86.97.3
10.11185.62.7
7.78.57.594
12.81016.5541.9.9
3.91.6.7
15 527.832 225.422 024 037.2
50.343 829 712 615 5
34.934125 724.1
22.913 61192.0
- 8 . 3- 1 1 4
27 0-15.2
Exports
16.79.1
14.3
15.516411.49.8
10.513.827.332.226.325.8
23.628.627.926.627.830.735.338 033.233.8
38.439.341.844850.351 754.456 761.265.0
70.571.077.597 3
108.5103 5110.1112.9126 7146.2
159.1160.2147 6139 5145.8
152.2155.1146 6136.7
138.2137.01416141.0
144.9144.7147 4146.2
mports
12.98.6
10.9
11.113.212.015.716.817.514.013.315.515.2
17.718.520.021.820.923.425.226.127.631.1
30.730.934.335 437.541.647.951.359.364.1
66.669.376.781880.771484.790.9
102 7109.0
108.8116.4118.0126.9161.3
117.3121.0120.9112.6
115.3123.4129.7139.1
153.2156.2174.4161.4
Government purchases of goods andservices
Total
41.042963.0
65.397 8
191.6271.3300.4265.493.175.784 796.8
98.1133.7159.8170.1156.0152.3153.51612169.8170.6
172 8182.9193 2197 6202.62098229.7248 5260.2257.4
2511250.1253.1253 3260.3265 2265.2269.2274 6278.3
284.3287.0292 72919302.2
290.2287.0292.8300.6
294.3292.4292.0288.8
289.5302.1306.1311.0
Federal
Total
7.010.922.8
26.761.0
157.4239.6269.7233.7
58.236.342 849.2
47.382.2
107.2114.796.188.286.890.693.491.4
90 495.3
102.81018100.21003112.61251128.1121.8
1106103.7101.795 996.697 496.8
100.4100 3102.1
106.4110.3117.0116.2122.4
114.8111.0117.2124.8
119.0117.2115.6113.0
112.2123.2125.0129.1
Nation-al
de-fense
73*168 366.966.464.965.465.767.4
70.073.579.184.789.5
75.778.180.681.9
83.384.884.486.3
87.189.689.192.1
Non-de-
fense
2&527 629.731031.835.034 734.8
36.436.737.931.532.9
39.132.936.642.9
35.732.331.226.7
25.233.636.037.0
Stateandlocal
33.932.040.3
38.636834.331.730.731.734.939.441947.5
50.851.552.755.359.964.166.770.676.479.2
82.487.590.495 8
102.4109 5117.1123.4132.1135.6
140.5146.4151.4157.4163.6167.8168.4168.8174.3176.2
177.9176.8175.7175.7179.8
175.4176.0175.7175.8
175.3175.2176.4175.8
177.3178.9181.1181.9
Finalsales
311.0227.0318.2
337.93884456.5531.5571.4564.0466.1470.6484 3496.6
524.2565.6596.5622.1618.2649.8665.8682.2682.7714.7
733.7753.7792.4825.0869.3917.5968.0999.2
1,049.11,076.6
1,081.81,114.31,175.71,237.11,234.71,238.41,290.41.356.41,422.61,472.2
1,479.41,500.91,490.41,538.31,614.8
1,490.31,484.51,483.51,503.4
1,507.51,530.91,549.31,565.4
1,579.31,618.51,614.61,646.9
Percent changefrom preceding
period1
Grossnation-
alprod-uct
6.6- 2 2
7.8
7.616315.315.17.1
-1 .5- 1 4 7
-1 .741
.5
8.78.33.73.8126.72.118
- . 46.0
2.22.65.8405.36.06.02.74.62.8
— 23.45.75.8
- . 6- 1 . 2
5.45.55.02.8
- . 32.52.13.76.8
- 4 . 6- .8- .9
.5
3.39.46.85.9
10.17.11.63.9
Finalsales
- 3 . 16.3
6.214 917.516.47.513
-17.41.0292.5
5.67.95.54.3
- . 65.12.52.5
il2.72.75.14.15.45.55.53.25.02.6
.53.05.55.2
- .2.3
4.25.14.93.5
.51.5
3.25.0
- 1 . 0- 1 . 5
- .35.5
1.16.44.94.2
3.610.3
-1 .08.3
Changes are based on unrounded data and therefore may differ slightly from changes computed from data shown here.Source: Department of Commerce, Bureau of Economic Analysis.
235
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-3.—Implicit price deflators for gross national product, 1929-84
[Index numbers, 1972-100, except as noted; quarterly data seasonally adjusted]
Year or quarterGross
nationalproduct
Personal consumptionexpenditures
Total Durable Non-durablegoods
Services
Gross private domestic investment'
Fixed investment
Total
(Presidential
Total Structures
Pro-ducers'
dur-able
equip-ment
Residential
Total
Non-farmstruc-tures
Farmstruc-tures
Pro-ducers'
dur-able
equip-ment
192919331939.....
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
19801981198219831984 "...
1982:IIIIllIV
1983:IIIIllIV
1984:
\\ZZ.IIIIV P.....
32.7625.1328.43
29.0631.2334.3236.1437.0137.9143.8849.5552.9852.49
53.5657.0957.9258.8259.5560.8462.7964.9366.0467.60
68.7069.3370.6171.6772.7774.3676.7679.0682.5486.79
91.4596.01
100.00105.75115.08125.79132.34140.05150.42163.42
178.42195.60207.38215.34223.38
203.98206.77208.53210.27
212.87214.25215.89218.21
220.58222.40224.57225.90
35.926.930.5
30.933.236.740.142.444.147.852.956.055.8
56.960.662.063.263.764.465.667.869.270.6
71.972.6
•73.774.875.977.279.481.484.688.4
92.596.5
100.0105.7116.4125.3131.7139.3149.1162.5
179.0194.5206.0213.6220,4
202.5204.5207.6209.6
210.7212.8214.8216.0
218.0219.2221.5222.9
44.232.535.9
36.740.043.746751.355.562.167.870.370.5
72.276.376.777.275.075.677.780.981.383.8
83.884.385.486.287.186.886.788.291.193.3
95.799.0
100.0101.7108.2117.3123.9129.2136.4145.0
156.2167.1174.5177.7179.0
172.8174.0175,5175.6
176.6176.8178.0179.3
179.0179.5179.2178.3
38.426.830.5
30.933.639.143.746.247.852.158.762.360.3
60.765.866.566.366.666.367.369.471.071.4
72.673.373.974.975.877.380.181.985.389.4
93.696.6
100.0108.5123.4132.5137.2143.6153.4169.9
188.1202.5208.7213.0217.7
207.1207.4209.6210.5
210.2212.6214.5214.8
217.4216.4217.8219.4
31.626.129.2
29.530.832.434.236.137.338.841.744.446.0
47.449.952.655.457.258.460.162.264.166.0
67.969.070.471.772.774.276.478.781.986.0
90.595.6
100.0104.7113.0121.6129.6139.3150.0162.3
178.8196.8213.6226.0237.6
207.9211.4215.6219.4
221.9224.9227.3229.7
232.6236.0239.7242.0
28.322.427.7
28.530.733.535.737.037.241.349.053.754.9
56.760.962.363.163.665.068.571.171.071.8
72.171.872.272.372.974.076.378.882.287.0
91.195.7
100.0105.5116.7131.9139.2149.8163.2178.5
193.4208.6215.4216.0218.6
214.4216.2214.9216.1
215.6214.4216.0217.7
216.6218.6219.2219.9
28.322.928.2
29.131.033.935.936.836.740.046.951.553.0
54.559.160.161.261.762.967.371.070.972.2
72.572.072.573.173.874.776.979.582.886.7
91.396.2
100.0103.8115.4132.2138.6146.3157.2170.8
186.2202.2209.5206.4207.6
208.7210.4208.8210.1
207.1205.2205.1208.1
206.3207.4208.0208.8
24.319.223.0
23.424.928.432.433.833.936.644.048.848.4
49.355.156.357.456.557.662.464.963.964.2
63.763.363.664.164.966.469.272.275.881.5
88.294.5
100.0107.7128.2144.8149.0159.4176.4200.2
227.4254.2
264!l
268.7265.8264.1266.8
266.0261.3261.4265.9
262.6264.1265.2264.5
33.426.232.0
32.834.937.337.338.037.942.848.653.056.0
57.861.762.663.865.566.671.175.576.678.3
79.479.379.479.780.180.682.184.387.289.9
93.297.2
100.0101.8109.3126.2133.9141.0149.7158.8
169.1179.4
ill!186.0
181.0184.2182.8183.2
181.4182.2183.2185.8
184.4185.4186.5187.4
28.220.726.6
27.430.032.434.938.140.844.653.758.158.7
60.064.466.466.967.168.771.071.471.271.1
71.471.371.570.971.272.374.677.080.787.7
90.594.8
100.0109.1120.3131.0140.7158.0178.3200.5
218.5234.1241.3246.4255.9
241.7241.8241.8240.0
245.2243.0248.7248.3
249.4255.9258.6259.8
27.819.826.3
27.229.731.834.337.340.043.953.057.558.1
59.563.865.866.366.668.270.570.970.770.6
70.970.971.170.570.872.074.376.780.587.5
90.394.7
100.0109.4120.8131.6141.3159.0179.8202J
221.6237.7245.1249.4259.2
246.0245.7245.8243.1
248.5245.9251.7251.2
252.3259.2262.1263.4
28.619.523.4
23.626.630.735.740.842.946.652.857.358.0
59.463.865.766.266.568.370.670.970.870.7
71.170.771.270.670.972.274.276.780.687.5
90.695.0
100.0109.2120.5131.9140.7157.0180.0202.7
218.1235.7249.3247.3261.8
243.2249.5245.4254.5
249.8245.4245.7248.0
258.5261.7261.1265.7
77.258.861,1
59.663.871.371.475.084.695,2
105.6111.5107.9
107.4114.9114.6114.2112.4109.1104.3103.4101.9101.8
100.899.096.895.394.392.190.891.093.595.7
97.899.3
100.0100.6106.8116.9122.7126.7132.6140.3
149.2159.3168.6172.6173.2
165.7168.2169.6170.8
171.5171.7172.7174.7
174.1173.6172.3173.0
See next page for continuation of table.
236
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-3-—Implicit price deflators for gross national product, 1929-84—Continued
[Index numbers, 1972=100, except as noted; quarterly data seasonally adjusted]
Year or quarter
192919331939
1940194119421943194419451946194719481949
1950195119521953 ...195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
19801981198219831984 P
1982:1||IllIV
1983:Ij |IllIV
1984:1 . .||IIIIV *
Exports andimports of goods
and servicesl
Exports
42.226 532.1
34.937.343 646.851953.655.462 866 563.1
61.068 868.667 567 268.571074.073173.5
75.276176 076 377.279481.983.585 588.5
93 2•97 0100.0112.7134 8149.6155 31619172.6192 5
212 9230.9236 0241.0249 4
236.2236 2236 2235.3
237.7239 42415245.4
247 7250 42501249.4
Imports
45.523 631.0
32.835.440041.342 744.951.862 367.864.6
68.882.679.976 777.277.178.479.676.175.2
76.175.574 275.276.877.779.479.981183.2
88 693 3
100.0116.7164 6179.6185 6205 5214.1246.1
289 4293.8279.3271.5266 6
282.9273.3280.9280.1
267.8271.0276 3270.3
267.9269 6263 3265.8
Government purchases of goods and services
Total
21.519 221.4
21.725.531232.832 331.229.633 637.739.7
39.245 047.348 548.649.251.754.056 057.2
58.059.161162.664.166.069.172.576 581.1
87 793 9
100.0106.7116 8128.2136 6146 3157.3170.4
189 2207.8222.2234.9247 5
217.4220.8224.1226.5
230.6233.3236 2239.4
243.3246 2248 6251.6
Federal
Total
20.519 422.7
22.727.833 034.033131.930.235 039.041.4
39.646 648.950149.950.452.955.157 759.0
59.460 262 063 565.167170.072.776 580.1
86 692 7
100.0106.3114 9126.0133 5142 8153.1164.8
185 2207.6221.4232.12414
217.6220.7223.2223.8
229.4230.8232 8235.6
238.5240 62415244.8
Nationaldefense
100.0106.61151124.9132.41419152.7166.0
187.5209.1227.0236.6247.6
222.5224.5227.4233.1
233.7234.8237.9240.0
245.1246.4247.4251.2
Non-defense
100.0105.6114 2128.2135.7144 6153.8162.5
180.8204.7209.8220.0224.8
208.2211.7213.9206.2
219.4220.3219.1221.4
215.5225.1227.1228.7
Stateandlocal
21.819.120.7
20.921.722.823.724 825.828.532.436.437.8
38.942.344.145 246.547.650.252.653.855.1
56.558.060161.663.164.968.272.476 482.0
88.694 7
100.0107.0118.0129.4138.3148 4159.7173.7
191.5208.0222.8236.7251.6
217.2220.8224.7228.4
231.5234.9238.4241.8
246.4250.0253.5256.5
Finalsales
32.725.328.4
29.031.034.336.337.037.943.749.652.652.6
53.356.757.858.959.660.662.664.966.167.5
68.669.370.571.672.774.276.679.082.586.8
91.596.0
100.0105.7115.0125.7132.2139.7150.3163.3
178.6195.3207.7215.7223.2
204.2206.9208.7210.9
213.4214.7216.3218.4
220.3222.1224.4226.0
Percentfrom pr
peri
GNPimplicitprice
deflator
0.0- 2 . 1
- . 8
2.27.59.95.3242.4
15.712.96.9
- . 9
2.16.61.4161.22.23.23.41.72.4
1.6.9
181.51.52.23.23.04.45.1
5.45.04.25.88.89.35.25.87.48.6
9.29.66.03.83.7
4.65.63.43.4
5.02.63.14.4
4.43.33.92.4
changeseeding
Finalsales
implicitprice
deflator
- 2 . 6- . 9
1.87.2
10.65.62 12.2
15.313.76.0
.1
1.3622.019121.8333.61.92.1
1.71.0181.51.52.13.23.14.45.2
5.45.04.15.78.89.35.25.77.58.7
9.49.46.33.93.5
575.53.44.4
4.82.43.14.0
3.53.24.22.9
1 Separate deflators are not calculated for gross private domestic investment, change in business inventories, and net exports ofgoods and services.
2 Changes are based on unrounded data and therefore may differ slightly from changes computed from data shown here. Quarterlychanges are at annual rates.
Source: Department of Commerce, Bureau of Economic Analysis.
237
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-4.—Fixed-weighted price indexes for gross national product, 1972 weights, 1959-84
[Index numbers, 1972=100, except as noted; quarterly data seasonally adjusted]
Year or quarterGross
nationalproduct
Personalcon-
sumptionexpendi-
tures
Gross private domesticinvestment1
Fixed investment
Total Nonresi-dential
Residen-tial
Exports andimports of goods
and services1
Exports Imports
Government purchases ofgoods ana services
Total
Federal
Total National Non-defense
Stateandlocal
Percentchange
frompreced-
nationalproductfixed-
weight-ed priceindex2
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984 "...
1982:(idIIIIV
1983:IIItilIV
1984:I..IIIllIV *....
69.8
70.871.672.473.274.1
75,377.579.883.187.3
91.896.2100.0106.0115.9
126.4133.7142.2153.3167.8
184.2201.9214.8223.8233.2
210.9213.4216.4218.9
220.7222.9225.5227.6
230.4232.8235.1237.1
73.1
74.174.875.576.377.2
78.280.182.085.088.7
92.796.6
100.0106.1117.1
126.3133.0141.2151.6166.3
184.8202.1213.9222.4231.1
210.1212.0215.4218.0
219.1221.5223.6225.5
228.2230.0232.2234.4
74.4
74.774.474.274.074.3
75.277.079.382.587.3
91.295.8
100.0105.8117.9
132.3140.2151.8167.0185.4
204.1221.2231.4234.5240.6
229.8231.1232.6232.5
235.6234.5237.1237.5
238.6242.2244.0244.9
74.1
74.574.374.474.775.3
76.177.980.383.387.0
91.696.3
100.0104.0116.5
132.9139.9148.5160.9177.2
195.9213.8225.9230.4234.8
222.6225.3227.4228.9
230.4230.0231.0231.7
232.9234.7236.1236.7
74.9
74.974.773.972.672.6
73.575.377.581.087.8
90.694.9
100.0109.2120.5
131.2140.8158.0178.4200.8
219.5235.3241.7242.3252.2
243.5242.3242.5239.5
245.5242.9248.7248.4
249.4256.4259.0260.4
73.4
75.076.076.076.377.1
79.481.883.385.588.5
93.197.0
100.0112.6137.4
151.8156.9164.0174.9197.2
218.4238.4243.8248.0250.6
244.0244.8244.0243.5
244.5246.8249.0252.7
254.4257.2256.3255.5
75.0
76.075.273.774.776.3
77.178.879.380.783,0
88.493.3
100.0116.7161.5
175.1178.7195.0210.1244.5
304.4317.2309.0299.9299.3
315.5308.5306.1307.0
304.1299.4299.4298.7
300.3302.1299.3297.8
56.9
58.359.561.362.864.4
66.269.272.476.481.3
87.994.0
100.0106.9117.9
129.2137.3147.0158.4173.2
193.8211.8225.6236.5249.2
221.4223.9226.4230.9
232.7234.8237.8240.7
245.0248.2250.6252.8
58.5
59.660.561.763.365.3
67.169.671.575.779.8
86.792.9
100.0106.7117.0
128.0135.4145.0155.4169.5
192.7214.1228.7236.7246.6
225.4226.9228.2234.3
234.6234.8237.2239.9
244.1246.4247.3248.3
100.0106.9117.5
127.9135.6145.5156.5171.7
196.7218.9234.0242.3252.7
230.8232.1233.0240.0
240.1240.1242.5246.1
250.2252.9253.4254.4
100.0106.1115.6
128.3135.0143.6152.6164.0
182.6201.9215.1222.3230.7
211.6213.3215.8219.5
220.7221.0223.7224.0
228.5230.0231.6232.8
55.8
57.458.961.062.563.9
65.668.873.176.982.3
88.794.8
100.0107.0118.4
130.0138.5148.4160.4175.7
194.5210.2223.6236.4250.9
218.8221.8225.3228.6
231.4234.7238.2241.2
245.5249.4252.8255.8
1.51.11.21.11.2
1.72.93.04.15.0
5.24.84.06.09.4
9.15.86.37.89.5
9.89.76.44.24.2
5.64.75.84.6
3.34.14.73.9
5.04.34.03.5
1 Separate deflators are not calculated for gross private domestic investment, change in business inventories, and net exports ofgoods and services.
2 Quarterly changes are at annual rates.Source: Department of Commerce, Bureau of Economic Analysis.
238
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-5.—Changes in gross national product, personal consumption expenditures, and related pricemeasures, 1929-84
[Percent change from preceding period; quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939194019411942194319441945 :19461947 ...194819491950 ....19511952195319541955 .1956195719581959I960196119621963196419651966 ...19671968196919701971197219731974197519761977197819791980 .1981198219831984"1982:
IIIHIIV ..
1983:1•1IIIIV ...
1984:
IIIII .
Gross national product
Currentdollars
6.6- 4 . 2
7.010025026.721.39.6
.912
11111.3
510 915 55254.0
9.0545.3138.5383.6775.66.98.4945.8928.1528.6
1011188.180
10.911.712 811788
12 43.87.7
10.8
2472.539
8512.310.110 6
14.910.7566.4
Con-stant
(1972)dollars
6.6-2 .2
7.876
16315.315.17.1
-1 .514 7
- 1 74.1
5878.33738
-1 .26.7211.8
- 46.0222.6584.05.3SJO602.7462.8
23.45758
6- 1 2
5.45.55.02.8
- 325
-2.13.76.8
468
-.9.5
339.46.85.9
10.17.11.63.9
Implicitprice
deflator
0.0-2.1
82275995.32.424
15712 96.9
g216614161.22.23 23.4172.416.9
181.51.52.2323.0445.1545.0425.88.8935.25.87.48.69.296
2:83.83.7
46563.43.4
5.02.63.14.4
4.43.33.92.4
Chainpriceindex
161.2141.31.41.9313.0435.0534941609.19 25.76.17.68 989956.64.34.0
60535.85.0
344.34.44.1
4.94.13.93.4
Fixed-
ed priceindex(1972
weights)
151.1121.11.21.72 93.0415.05 24.8406.09.49 15.86.37.89.59.8976.44.24.2
56475.84.6
3.34.14.73.9
5.04.34.03.5
Personal consumption expenditures
Currentdollars
- 5 . 74.660
13 89.7
12.28.8
10.520312.58.0197.87.9485.82.77.64.95.43.27.44.53.1605.56.97.5815.49.58.4698.196
10.29.49.9
11.011.111.811.910.710.97.38.68.6
8.66.38.59.3
4.814.57.69.2
8.610.25.06.5
Con-stant
(1972)dollars
- 2 . 05.3465.9
-1 .02.92.86.2
11.11.62.12.35.61.3253.81.86.52.92.11.05.42.62.14.53.85.55.65.12.95.33.72.23.75.84.2
- . 72.25.65.04.52.7.5
2.01.44.85.3
2.92,22.25.1
2.610.03.86.8
4.67.9.7
3.9
Implicitprice
deflator
-3 .8
1374
10.89.05.84.183
10 75.8
- 3206.5231.9.9
1.01.93.32.21.91.91.01.51.61.41.82.92.44.04.54.64.33.75.7
10.17.65.15.87.09.0
10.28.75.93.73.2
5.54.06.14.0
2,24.13.72.3
3.82.24.32.5
Chainpriceindex
1.71.11.11.41.21.5272.53.84.54.64.33.66.1
10.47.75.36.07.39.3
10.79.26.14.13.9
5.74.26.35.0
2.54.43.73.6
4.73.33.93.8
Fixed-weight-ed price
index(1972
weights)
1.5.9.9
1.21.11.32.42.43.64.44.54.23.56.1
10.47.8
6 27.49.7
11.19.45.94.03.9
5.43.76.64.9
1.94.53.93.4
4.93.14.C3.S
Note.—Changes are based on unrounded data and may differ slightly from changes computed from data shown elsewhere in thesetables.
Source: Department of Commerce, Bureau of Economic Analysis.
239
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-6.—Gross national product by major type of product, 1929-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
Grossnationalproduct
Finalsales
Inven-tory
change
Goods
Total
Total Finalsales
Inven-tory
change
Durable goods Nondurable goods
Final Inven-tory
change
Finalsales
Inven-tory
change
Services Struc-tures
Autooutput
192919331939
19401941194219431944194519461947.1948.1949
1950...1951...19521953..195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
19801981198219831984 P....,
1982:jit"!'."in....IV....
1983:
if.!!!!in....
IV....
1984:
iniv *....
103.455.890.9
100.0125.0158.5192.1210.6212.4209.8233.1259.5258.3
286.5330.8348.0366.8366.8400.0421.7444.0449.7487.9
506.5524.6565.0596.7637.7691.1756.0799.6873.4944.0
992.71,077.61,185.91,326.41,434.21,549.21,718.01,918.32,163.92,417.8
2,631.72,957.83,069.33,304.83,661.3
3,026.03,061.23,080.13,109.6
3,173.83,267.03,346.63,431.7
3,553.33,644.73,694.63,752.5
101.757.490.5
97.8120.6156.7192.8211.6213.5203.5233.5254.8261.4
279.7320.5344.8366.3368.4394.1417.0442.6451.2482.2
503.6522.2558.8590.7632.1681.2741.9789.3865.5934.2
989.51,070.01,175.71,307.91,420.11,556.11,706.21,895.32,137.42,403.5
2,641.52,931.73,095.43,318.33,604.4
3,043.13,072.13,095.53,170.8
3,216.83,286.43,350.93,419.0
3,479.53,594.13,622.83,721.4
1.7-1 .6
.4
2.24.51.8
- . 6- 1 . 0- 1 . 0
6.4- . 54.7
-3 .1
6.810.33.1
.4- 1 . 5
6.04.71.3
- 1 . 55.7
3.02.36.36.05.69.9
14.110.37.99.8
3.27.7
10.218.514.1
- 6 . 911.823.026.514.3
- 9 . 826.0
-26.1-13.5
56.8
= 17.0-10.9-15.3-61.1
-42.9-19.4- 4 . 312.7
73.850.671.831.1
56.127.049.0
56.072.593.7
120.4132.3128.9125.3139.8154.4147.7
162.4189.5194.6203.1196.1214.5223.3232.3228.2248.5
254.2257.4278.5290.3309.8338.4375.0389.4421.3450.2
459.9485.3529.6604.1646.7694.0771.1855.0958.6
1,065.6
1,140.61,294.81,276.81.355.71,540.4
1,282.81,286.01,276.31,261.9
1,288.71,337.11,373.21,423.9
1,498.01,544.81,549.21,569.4
54.428.648.6
53.868.091.9
121.0133.3129.9118.9140.3149.7150.8
155.6179.2191.5202.7197.6208.5218.6231.0229.7242.9
251.3255.0272.2284.3304.2328.5360.9379.1413.4440.4
456.6477.7519.4585.6632.5700.9759.3832.0932.1
1,051.3
1,150.41,268.81,302.91,369.21,483.5
1,299.91,296.91,291.61,323.1
1,331.61,356.51,377.51,411.2
1,424.21,494.21,477.41,538.3
1.7- 1 . 6
.4
2.24.51.8
- . 6- 1 . 0- 1 . 0
6.4
~47-3 .1
6.810.33.1
.4- 1 . 5
6.04.71.3
- 1 . 55.7
3.02.36.36.05.69.9
14.110.37.99.8
3.27.7
10.218.514.1
-6 .911.823.026.514.3
- 9 . 826.0
-26.1-13.5
-17.0-10.9^15.3-61.1
-42.9-19.4- 4 . 312.7
73.850.671.831.1
16.15.4
12.4
15.423.834.554.258.550.131.844.448.050.0
56.266.472.577.873.981.485.991.384.490.8
93.392.7
102.9109.4118.9131.6147.0153.5167.9178.5
179.2187.1207.4237.6250.7279.4312.5354.9402.1454.3
482.0523.2517.9557.5623.9
516.7515.0515.2524.7
526.0546.5564.5592.9
597.5629.7613.1655.4
1.4=-.5
1.23.11.0.0
- . 6- 1 . 3
5.31.41.0
-1 .8
3.66.11.21.5
- 2 . 53.42.1
.5=2.8
3.1
1.6- . 13.42.74.06.7
10.25.54.76.4
- . 12.87.2
13.112.0
- 8 . 47.7
10.419.110.5
- 4 . 17.3
-18.0- 2 . 129.0
= 7.5=4.6
-43.4
-30.0- 5 . 512.514.5
34.918.241.721.2
38.323.236.2
38.444.257.466.874.879.887.195.9
101.7100.9
99.4112.8119.0124.9123.7127.1132.7139.6145.3152.1
158.0162.4169.3174.9185.3196.9213.9225.6245.5261.9
277.5290.6312.0348.0381.8421.5446.7477.2530.1597.0
668.4745.6785.0811.7859.6
783.1781.9776.4798.4
805.6810.0813.0818.3
826.8864.6864.3882.8
0.3- 1 . 1
.1
1.01.4
- ! 6= .3
.21.1
-1 .93.7
- 1 . 3
3.24.22.0
-1 .11.02.62.6
.81.32.5
1.32.42.83.31.63.23.94.93.13.4
3.34.83.05.32.21.54.2
12.67.33.8
- 5 . 718.8
-=-8.1-11.3
27.8
- 3 . 5-10.7-17.8
-12 .9-13.9-=16.8-1 .7
38.932.430.1
9.9
35.925.934.4
35.740.850.863.072.377.068.871.677.282.2
88.5103.5113.9121.6126.2136.1146.2158.7167.7179.8
193.8207.0222.0237.1255.0273.3299.0326.5358.2391.9
429.9472.0519.0571.5636.1705.2779.3867.2972.2
1,089.7
1,225.21,373.01,510.81,639.31,763.6
1,459.11,493.71,527.81,562.5
1,594.11,627.21,654.51,681.3
1,713.71,742.61,783.31,814.7
11.42.97.5
8.311.814.08.76.16.5
15.721.728.028.4
35.637.839.442.044.549.552.253.053.859.5
58.560.264.569.372.979.382.083.694.0
101.8
102.9120.3137.3150.8151.4150.0167.6196.1233.1262.5
265.9289.9281.7309.8357.3
284.1281.5276.0285.2
291.1302.6319.0326.5
341.6357.2362.1368.4
7.28.8
11.9
15.413.312.016.114.721.216.919.414.419.4
21.317.822.525.225.931.230.428.035.134.9
28.739.141.646.239.240.755.965.169.568.0
60.870.667.088.7
105.1
59.768.375.364.8
79.279.496.699.6
114.898.799.0
107.9
Source: Department of Commerce, Bureau of Economic Analysis.
240Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-7.—Gross national product by major type of product in 1912 dollars, 1929-84
[Billions of 1972 dollars; quarterly data at seasonally adjusted annual rates}
Year orquarter
Grossnationalproduct
315.7222.1319.8
344.1400.4461.7531.6569.1560.4478.3470.3489.8492.2
534.8579.4600.8623.6616.1657.5671.6683.8680.97217
737.2756.6800.3832.5876.4929.3984.8
1,011.41,058.11,087.6
1,085.61,122.41,185.91,254.31,246.31,231.61,298.21,369.71,438.61,479.4
1,475.01,512.21,480.01,534.71,639.0
1,483.51,480.51,477.11,478.8
1,491.01,524.81,550.21,572.7
1,610.91,638.81,645.21,661.1
Finalsales
311.0227.0318.2
337.9388.4456.5531.5571.4564.0466.1470.6484.3496.6
524.2565.6596.5622.1618.2649.8665.8682.2682.7714.7
733.7753.7792.4825.0869.3917.5968.0999.2
1,049.11,076.6
1,081.81,114.31,17571,237.11,234.71,238.41,290.41,356.41,422.61,472.2
1,479.41,500.91,490.41,538.31,614.8
1,490.31,484.51,483.51,503.4
1,507.51,530.91,549.31,565.4
1,579.31,618.51,614.61,646.9
Inven-tory
change
4.6- 4 . 9
1.6
6.212.05.2
.1- 2 . 3-3 .612.2- .25.5
- 4 . 4
10.613.74.31.5
-2 .27.75.81.5
- 1 . 87.0
3.53.07.87.57.1
11.816.812.29.0
11.1
3.88.1
10.217.211.6
- 6 . 77.8
13.316.07.3
- 4 . 41L4
-10.4- 3 . 624.2
- 6 . 7-4 .0- 6 . 4
-24.6
-16 .5- 6 . 1
.97.2
31.620.330.614.2
Goods
Total
Total
144.397.5
154.3
171.7198.6221.4263.3287.3278.5238.3237.7244.8240.3
261.5283.7292.1306.8292.7316.7320.9321.7311.6332.5
335.8338.0361.3372.2393.8422.6456.4463.4483.1496.0
486.9497.2529.6572.3562.5547.4587.2628.1662.0677.7
668.1693.1660.6688.6763.6
669.0662.0657.9653.6
658.9681.6698.1715.5
744.9767.4766.8775.3
Finalsales
139.7102.3152.7
165.5186.6216.2263.3289.6282.2226.2237.9239.4244.7
250.9270.0287.8305.3294.9309.0315.1320.2313.4325.5
332.3335.0353.5364.7386.7410.8439.6451.2474.1484.9
483.2489.1519.4555.1550.9554.2579.4614.8645.9670.4
672.5681.8671.1692.2739.4
6757666.0664.3678.2
675.4687.7697.2708.2
713.3747.1736.1761.1
Inven-tory
change
4.6- 4 . 9
1.6
6.212.05.2
.1- 2 . 3- 3 . 612.2- .25.5
- 4 . 4
10.61374.31.5
- 2 . 27.75.81.5
- 1 . 87.0
3.53.07.87.57.1
11.816.812.29.0
11.1
3.88.1
10.217.211.6
- 6 77.8
13.316.07.3
- 4 . 411.3
-10.4- 3 . 624.2
- 6 . 7- 4 . 0-6 .4
-24.6
-16 .5- 6 . 1
.97.2
31.620.330.614.2
Durable goods
Finalsales
40.417.535.5
43.157.875.7
118.8135.9121.260.375.577.378.3
86.198.2
107.9116.2109.0117.2117.8119.4109.2113.6
115.6114.7125.7132.5143.0157.2174.0178.3187.4193.0
187.51887207.4236.1234.1230.22427264.7285.4299.1
290.4291.9277.4296.1327.9
281.0275.6274.0278.8
280.5292.3299.6311.9
316.4331.4322.4341.4
Inven-tory
change
3.5- 2 . 1
7
3.48.23.5
7= 1.8- 3 710.81.41.6
- 2 . 9
5.59.01.72.3
- 3 74.52.9
.9- 3 . 4
3.9
2.0- .14.23.45.18.2
12.36.65.47.2
.03.07.2
12.79.4
-6 .45.46.9
11.86.2
-1 .93.2
- 7 . 8- .512.6
- 7 . 5- 3 . 5-1 .6
-18.6
-12 .0- 2 . 1
5.66.6
14.78.1
17.89.6
Nondurable goods
Finalsales
99.384.9
117.2
122.4128.7140.5144.41537161.0165.8162.4162.1166.4
164.8171.8179.9189.1185.9191.9197.2200.8204.3211.9
21G.6220.3227.8232.22437253.6265.6272.9286.7291.9
295.7300.4312.0319.0316.8324.0336.7350.1360.5371.3
382.1389.93937396.1411.5
3947390.4390.3399.4
394.9395.4397.7396.3
396.9415.741374197
Inven-tory
change
1.1- 2 . 8
.9
2.83.81.7
-.6- .5
.11.3
- 1 . 63.8
- 1 . 5
5.1472.6
- .81.53.22.9
.61.63.1
1.63.03.74.21.93.64.55.63.63.9
3.75.13.04.52.2
- .32.46.34.31.1
- 2 . 58.1
- 2 . 6-3 .211.6
.8- .6
- 4 . 8- 6 . 0
- 4 . 5- 4 . 0- 4 . 8
.6
16.912.212.84.6
Services
127.41107135.2
139.9158.5193.9242.02637263.0200.8188.1192.5198.3
207.4231.3243.2247.5249.1260.1270.2282.4287.6299.4
312.5326.9341.5356.2374.03907412.6434.1453.0469.2
482.4497.8519.0542.8562.8575.9595.0617.3644.76707
6877699.9707.8723.2736.9
702.9707.1709.4711.9
716.8721.9725.47287
731.4732.9739.0
7,44.2
Struc-tures
43.914.030.3
32.543.346.326.218.118.839.144.652.453.6
65.964.365.569.374.380780.579781.789.8
89.091.797.4
104.1108.6116.0115.9113.9122.0122.5
116.3127.3137.3139.1121.0108.3116.0124.4131.9131.0
119.1119.2111.6122.9138.6
111.6111.5109.8113.4
115.2121.3126.6128.5
134.6138.5139.4141.6
192919331939
19401941194219431944..1945..1946..194719481949....
1950...1951...1952....1953...1954...,1955...,1956...195719581959
1960196119621963196419651966196719681969..
1970197119721973197419751976197719781979
19801981198219831984".
1982:
ir!'."'.zrIIIIV
1983:IIIIllIV
1984:IIIIIIIV P.
Source: Department of Commerce, Bureau of Economic Analysis.
241Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-8.—Gross national product by sector, 1929-84
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
I960196119621963196419651966196719681969
1970197119721973197419751976197719781979
19801981198219831984 »
1982:
IIIIIIV
1983:
IIIIIIV
1984:
HIIIIV p
Grossnationalproduct
103 455.8909
100.0125.0158 5192.1210.6212.4209.82331259.5258.3
286.5330.8348.0366 8366.8400.04217444.0449 7487.9
506.5524.6565.0596 7637.7691.1756.0799.6873.4944.0
992.71,077.61,185.91,326.41,434.21,549.21,718.01,918.32,163.92,417.8
2,631 72,957.83,069.33,304.83,661.3
3,026.03,061.23,080.13,109.6
3,173.83,267.03,346.63,431.7
3,553.33,644.73,694.63,752.5
Gross domestic produqt
Total
102.655.590.5
99.6124.5157.9191.6210.1212.0209.0231.8257.9256.9
284.8328.7345.7364 6364.5397.3418.5440.5446.6484.6
502.9520.7560.55918632.3685.2750.3793.7866.7937.1
985.41,068.51,175.01,310.41,414 41,531.91,697.51,894.92,134.32,375.2
2 58642,907.53,021.33,256.53,616.3
2,978.23,011.03,032.33,063.7
3,127.13,219.63,295.23,384.1
3,505.73,602.63,650.13,706.9
Business'
Total1
95.449.180.6
89.4112.6139.9162.8174.2172.8183.8210.0234.9231.5
257.5294.4307.3324.9323.9354.0372.1390.8393.1428.3
442.0455.7490.6517 2551.6598.4652.6685.1745.4803.2
837.3907.1998.6
1,118.71206 41,301.71,447.31,624.01,837.22,052.1
2 22812,511.92 589.02,790.83,117.6
2,558.32,583.22,597.12.617.6
2,672.62,757.62,826.22,906.8
3,017.23,106.83,148.53,197.7
Nonfarml
84.743.872.9
81.8103.1127.7149.3156.2152.7164.4188.2213.1212.2
236.3268.3283.4302.3302.3333.9355.7373.7372.2410.6
424.2435.7468.14950532.2577.7628.4663.3725.0782.1
813.1875.4963.4
1,068.011550U47.31,396.31,574.21,781.01,982.1
2158 22,425.42 514.42,728.93,046.9
2,484.52,512.72,529.22,531.3
2,596.62,695.22,769.32,854.3
2,943.43,037.53,078.03,128.9
Farm
9.74.66.3
6.48.9
13.015.315.316.018.820.223.318.8
20.022.922.220 319.718.818.618.420 719.0
20.220.220 420 519 321.922.822.122.625.1
25.827.631.949.947 748.945.948.458.771.6
67 780.875161.578.8
82.173.668.875.8
68.658.361.757.3
71.678.383.581.8
Statis-tical
discrep-ancy
1.1.7
1.4
1.1.6
- .8-1 .8
2.74.1
.51.5
-1 .6.6
1.33.21.72.32.01.3
=2.1- 1 . 2
.2-1 .3
- 2 . 4
2.117.1
-1 .21.4
-2A= 3.9
- 1 . 54.13.3
.8375.55.11.4
=2.6= 1.5
235.6
-Z.2
- 8 . 3-3 .1
- . 910.5
7.54.1
- 4 . 8-4 .8
2.2=9.0
= 13.0-13.0
House-holdsand
insti-tutions
2.91.72.3
2.42.52.93.23.74.14.55.15.65.9
6.46.97.27.88.19.19.8
10.511.412.3
13.814.415.516.617.819.221.123.426.129.4
32.335.438.642.145.850.655.660.567.875.6
85.396.2
107.4116.5123.5
103.4105.9108.8111.3
113.5115.6117.3119.6
121.0123.1123.8126.0
Government3
Total
4.34.77.6
7.89.4
15.125.632.235.220.816.717.419.4
20,927.431.231.932.534.236.639.142.144.0
47.150.554.358 062.967.676.585.195.2
104.5
115.8126.0137.8149.6162.2179.6194.6210.3229.3247.4
273.0299.4324.9349.2375.3
316.5321.9326.5334.7
341.0346.4351.6357.7
367.4372.7377.7383.2
Federal
0.91.23.4
3.55.0
10.620.927.229.814.69,48.9
10.0
10.716.218.918.617.818.419.019.620.520.9
21.722.624.125.227.028.332.435.639.341.9
44.846.850.151.954.959.062.466.371.775.7
82.992.6
101.2107.8114.6
99.3100.0100.8104.6
106.3107.3108.1109.5
113.8114.4114.7115.3
Stateandlocal
3.53.54.2
4.34.44.54.74.95.46.27.38.59.4
10.1U.212.313.314.715.817.619.621.623.1
25.527.930.232.935.939.344.149.555.962.6
71.179.387.797.7
107.3120.6132.3144.0157.6171.8
190.0206.8223.7241.4260.7
217.2221.9225.7230.2
234.7239.1243.6248.2
253.6258.3263.0267.8
Restof theworld
OR.3,fi
.4
.55
.5,4.8
1?161.4
1.62.1?,32.2?3?.fi3.23,53.03.3
3.63,94.64.95.55.95.65.96.76.9
7.39.2
10.916.019.817.320.523.529.642.6
45.350.348.048.344.9
47.850.247.846.0
46.747.451.547.7
47.642.144.545.6
1 Includes compensation of employees in government enterprises.2 Compensation of government employees.Source: Department of Commerce, Bureau of Economic Analysis.
242Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-9-—Gross national product by sector in 1972 dollars, 1929-84
[Billions of 1972 dollars, except as noted; quarterly data at seasonally adjusted annual rates}
Year or quarterGross
nationalproduct
Gross domestic product
Total
Business *
Total1 Nonfarm1 FarmStatisti-
caldiscrep-
ancy
House-holdsand
insti-tutions
Government2
Total FederalStateandfocal
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
197019711972197319741975 „1976 . ..19771978...1979
19801981198219831984 p
1982:
llZZZZZZIIIIV
1983:
I IZZZZZZIII
IV
1984:
\\ZZZZZZ.injv p.
315.7222.1319.8
344.1400.4461.7531.6569.1560.4478.3470.3489.8492.2
534.8579.4600.8623.6616.1657.5671.6683.8680.9721.7
737.2756.6800.3832.5876.4929.3984.8
1,011.41,058.11,087.6
1,085.61,122.41,185.91,254.31,246.31,231.61,298.21,369.71,438.61,479.4
1,475.01,512.21,480.01,534.71,639.0
1,483.51,480.51,477.11,478.8
1,491.01,524.81,550.21,572.7
1,610.91,638.81,645.21,661.1
313.2220.9318.2
342.8398.7460.1530.3567.7559.3476.4467.8486.8489.4
531.8575.6596.9619.8612.1653.0666.5678.3676.2716.8
732.0751.0793.8825.6868.9921.4977.5
1,003.91,050.01,079.7
1,077.61,112.81,175.01,239.21,229.01,217.81,282.61,352.81,418.71,453.2
1,449.31,486.31,456.71,512.11,618.8
1,459.91,456.01,453.91,456.8
1,468.91,502.61,526.21,550.7
1,589.21,619.81,625.31,640.9
271.5180.0261.0
282.7327.6361.8385.6403.6397.9385.5393.8412.0409.8
448.7478.0492.8515.6508.5547.0557.4566.1561.7600.O
610.1625.1663.2691.6730.3777.7824.0842.0882.1907,1
904.8938.6998.6
1,060.71,047.41,032.41,095.41,163.71,224.31,255.6
1,248.21,283.«1,253.41,307.81,413.0
1,256.91,252.61,250.71,253.5
1,265.21,298.51,321.91,345.7
1,384.01,414.11,419.51,434.3
244.7152.5231.3
254.6299.8335.3362.1370.1362.8358.6367.0389.0383.4
419.4447.2463.7484.3477.0516.0531.5539.5532.0574.0
584.2596.3631.5659.7701.3749.6794.1812.8855.6881.9
875.4901.7963.4
1,028.41,012.4
994.51,059.51,129.51,193.51,222.4
1,211.91,240.61,214.81,273.81,377.0
1,218.81,215.61,216.11,208.5
1,225.41,264.11,289.31,316.3
1,347.51,380.11,383.51,396.9
23.624.925.2
24.526.228.627.727.125.625.824.025.825.6
27.025.826.427.728.429.328.928.229.327.8
29.228.928.829.628.829.828.229.529.029.5
31.132.631.931.631.833.632.133.132.634.2
35.040.338.933.839.7
42.2
40.0
36.232.534.831.6
35.638.141.843.3
3.12.64,6
3.61.6
-2.1-4.2
6.49.41.12.9
-2 .8
2.45.02.63.63.11.8
- 3 . 0- 1 . 7
- L 9
- 3 . 3- . 22.92.3
- U1.7
- 4 ^ 4
- 1 . 74.23.3
.73.24.43.81.0
- 1 . 8- 1 . 0
1.32.9
- . 3
- 3 . 7
- 4 . 1- 1 . 5- . 55.0
3.51.9
-2.3-2.2
1.0-4.1-5.9-5.8
15.612.215.1
16.115.916.415.215.115.015.116.016.717.3
18.318,718.619.319.421.422.523.124.224.7
26.627.028.128.929.830.932.634.335.437.0
36.737.638.639.439.340.540.941.543.344.6
45.546.346.747.347.8
46.546.746.846.9
47.147.247.347.5
47.647.947.748.2
26.228.842.1
44.055.281.9
129.4149.1146.475.958.058.162.3
64.779.085.585.084.184.686.789.190.392.2
95.398.9
102.5105.2108.8112.7120.8127.7132.4135.7
136.1136.7137.8139.1142.3144.9146.3147.7151.2153.0
155.6156.2156.5157.0158.0
156.4156.8156.4156.5
156.7156.9157.0157.5
157.7157.8158.1158.3
5.26.6
16.9
18.629.656.7
105.0125.2121.849.729.829.231.3
32.746.251.649.647.245.945.645.844.544.5
45.246.248.348.248.548.753.057.258.058.2
55.252.550.148.248.548.448.548.649.349.0
49.650.050.551.351.9
50.250.450.650.8
51.051.251.451.7
51.851.952.052.0
21.022.125.2
25.425.625.224.523.924.626.228.229.031.0
32.032.833.935.436.938.641.043.345.847.7
50.152.754.357.060.464.067.970.574.477.4
80.984.287.790.893.896.597.899.1
101.9104.1
106.0106.2106.0105.7106.1
106.2106.4105.8105.7
105.6105.6105.6105.8
105.8105.9106.2106.3
1 Includes compensation of employees in government enterprises.8 Compensation of government employees.Source.* Department of Commerce, Bureau of Economic Analysis.
243
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-10.—Cross national product by industry, 1947-83
[Billions of dollars]
Year
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
1980198119821983
Grossnation*alprod-uct
233.1259.5258.3
286.5330.8348.0366.8366.8
400.0421.7444.0449.7487.9
506.5524.6565.0596.7637.7
691.1756.0799.6873.4944.0
992.71,077.61,185.91,326.41,434.2
1,549.21,718.01,918.32,163.92,417.8
2,631.72,957.83,069.33,304.8
Gross domestic product
Anrtrulflgrtcu!-Ture,forestry,
andfisheries
20.824.019.5
20.823.823.121.320.7
19.919.719.521.920.2
21.421.521.922.021.0
23.824.824.225.027.8
28.630.835.453.852.2
53.351.254.666.079.6
76.890.485.572.7
Mining
6.89.48.1
9.310.210.110.610.9
12.413.413.512.412.3
12.612.712.813.1114
13.514.214.615.316.1
17.617.419.021.732.2
38.843.047.452.066.8
96.0132.3125.1112.4
Pnnuon-struction
9.111.511.5
13.015.416.617.117.2
18.520.621.421.022.8
23.224.025.727.429.8
32.835.937.541.346.3
48.953.659.466.369.2
69.976.686.6
102.1115.7
119.8122.8123.7130.7
Manufacturing
Total
66.274.772.1
83.798J
103.0112.1106.4
120.9126.8131.4123,8141.3
143.8144.4157.9167.4179.4
197.7216.6222.3242.8256.7
252.2265.6292.5326.1340.7
358.2410.4464.8518.7563.2
581.5643.6630.6685.2
Dura-ble
goods
33.538.137.1
45.855.458.965.960.8
70.673.777.769.781.2
82.181.391.597.5
105.3
118.0130.4133.6146.0154.5
146.2153.9173.2195.9201.3
207.6240.0277.7316.7344.3
350.4386.8364.0389.7
Non-durablegoods
32.736.535.0
37.943.344.146.245.6
50.353.253.754.160.0
61.763.166.469.874.2
79.786.388.7S3.8
102.2
105.9111.7119.3130.2139.4
150.6170.4187.1202.0218.9
231.1256.8266.5295.5
TVonei rans-portationand
publicutilities
20.523.123.4
25.729.231.032.932.6
35.638.340.240.443.7
45.847.450.253.056.3
60.565.368.674.080.0
85.793.8
104.3114.3122.9
135.7152.6170.9193.3209.6
231.9261.2280.7306.8
Whole-saleand
retailtrade
44.248.448.0
51.356.458.559.860.8
66.270.473.975.281.9
84.286.392.196.1
104.7
112.6121.5130.1144.4157.0
166.5181.4199.5221.5241.5
266.2291.4322.3362.3401.4
428.8474.1489.6536.2
Fi-
nance,insur-ance,andreal
estate
23.226.228.6
31.935.238.742.846.5
50.053.557.662.467.3
71.675.480.685.391.0
98.0105.9114.2123.8133.6
142.4156.4169.8184.9202.0
216.2238.6275.5317.4358.3
398.7450.1491.0542.5
Services
20.221.922.6
24.025.927.529.430.5
34.037.340.242.346.3
49.252.356.160.065.3
70.878.486.194.2
105.3
114.4123.6136.5153.1167.5
186.2208.2234.3265.9302.4
342.6389.4430.9477.5
Govern-mantmeniand
govern-mententer-prises
19.320.222.5
23.830.835.336.436.9
38.540.744.047.150.0
53.456.761.165.971.2
76.786.496.3
108.1118.2
130.5141.8155.4167.8182.7
202.0220.4237.2259.1279.6
308.1338.1364.7392.1
Ctatietira!Cal
discrep-ancy
1.5- 1 . 6
.6
1.33,21.72.32.0
1.3- 2 . 1- 1 . 2
.2- 1 . 3
- 2 . 4- .12.11.7.1
- 1 . 21.4
- .3- 2 . 1- 3 . 9
- 1 . 54.13.3.8
3.7
5.55.11.4
- 2 . 6- 1 . 5
2.35.6
- .5.5
PactncSI
of theworld
1.21.61.4
1.62.12.32.22.3
2.83.23.53.03.3
3.63.94.64.95.5
5.95.65.96.76.9
7.39.2
10.916.019.8
17.320.523.529.642.6
45.350.348.048.3
Note.—The industry classification is on an establishment basis and is based on the 1972 Standard Industrial Classification.Source: Department of Commerce, Bureau of Economic Analysis.
244
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-ll.—Gross national product by industry in 1972 dollars, 1947-83
[Billions of 1972 dollars]
Year
194719481949
19501951195219531954
19551956195719581959
1960. .1961196219631964
19651966196719681969
19701971197219731974
19751976....1977....19781979
1980198119821983
Grossnationalproduct
470 3489.8492.2
534 8579 46008623 6616.1
657.5671.6683.8680.9721.7
737 2756 6800.3832 5876.4
929.3984 8
1,011.41,058.11,087.6
1,085.61122 41,185.91,254.31,246.3
1,231.61298 21,369.71438 61,479.4
1,475.01512 21,480.01,534.7
Gross domestic product
Agri-culture,forest-ry, andfisher-
ies
26328.228.0
29 328.429 230.531.3
32.131.731.132.230.6
32131.831.732 531.8
32.831332.632.132.7
34.435935.435.335.8
37.135 836.937 038.9
39.945 344.139.1
Min-ing
10811.39.9
11112.111912 211.8
13.213.913.812.713.3
13 513 613.914 515.1
15.716 517.017.618.2
18.918419.019.219.2
18.919119.520120.8
21.622 521.621.0
Con-struc-tion
22.926.526.5
29.332.533 834.836.0
38.240.940.942.145.5
46146.748.449.952.2
54.454 653.456.955.8
53.457.959.460.153.3
48.352.855.058 858.2
52.250.148.950.2
Manufacturing
Total
114 9121.4115.1
1311146.0150 8161.1149.6
165.7166.9167.7153.3171.2
1718172.0186.7202 2216.7
236.7254 9254.3268.2277.2
261.2266 8292.5325.3311.7
289.6317 4339.2357 2367.0
351.0359 7336.6354.1
Dura-ble
goods
68 572.066.3
78189.994 3
102.691.7
103.4102.5102.988.8
100.9
101099 5
110.0119 5129.8
144.6157 3157.4165.5170.3
155.21564173.2194.2186.3
168.8187 2202.9217 4223.4
210.2216 3196.9208.2
Non-durablegoods
46 449.448.8
53 056.156 558 557.9
62.364.464.864.570.3
70 872 576.782 886.8
92.097 696.9
102.7106 8
106.0110 4119.3131.1125.3
120.81301136.3139 8143.6
140.8143 4139.7145.9
Trans-por-
tationand
publicutil-ities
42.342.139.2
41.245.545 546.645.8
49.752.153.251.955.4
57 558.661.565 068.1
73.479 481.688.292.6
94.997.9
104.3110.6111.9
113.5118 6125.1134 2140.0
139.6142.8138.6142.5
Whole-saleand
retailtrade
75.978.079.8
87.588.391093.994.5
103.1106.2107.9107.8115.4
117 5118.7126.31311139.1
148.2156 3160.1169.9173.6
176.4185 5199.5211.1207.0
209.7220 2231.0244 6250.7
246.0252.7250.3266.7
Fi-nance,insur-ance,andreal
estate
54 756.659.8
63.966.770973.977.3
81.885.889.893.498.5
102 7107.3113.3116 8122.1
128.5133 9139.4145.7152.9
155.8162 6169.8177.2184.5
187.9194 8207.2217.8229.4
235.6243.6248.1253.5
Serv-ices
55.957.557.6
59.760.861.662.762.9
67.670.974.176.280.8
83.586.690.394.098.8
103.1109.0115.0118.8124.0
126.7128.4136.5144.8147.9
148.5154.7164.3174.2183.0
189.1197.6200.2206.8
Govern-mentand
govern-mententer-prises
68.769.273.3
75.690.096996.395.2
95.797.8
100.4101.7104.0
107 7111.6115.5118.7123.1
127.8136 9144.1148.9152.5
152.9153.9155.4157.2161.2
164.3165.7167.5171.7174.3
177.5178.1177.9178.3
Sta-tis-
ticaldis-
crep-ancy
2.9- 2 . 8
.8
2.45.02.63.63.1
1.8- 3 0-1 .7
- L 9
- 3 . 3
2.92.3
-1 .61.7
- . 3-2 .5=4.4
-1 .74.23.3
3.2
4.43.81.0
- 1 8-1 .0
1.32.9
~\l
Resid-ual1
-7 .4-1 .2- . 6
.8
.22.64.14.6
4.23.4
.94.54.0
3.14.43.2
- 1 . 51.7
2.33.06.76.24.6
4.71.2.0
- 2 . 5=6.5
-4 .2- . 26.049
-8 .1
-4 .6- 8 9-9 .4= .4
Restof theworld
2.53.02.7
3.0M39174.0
4.5f>15.54.64.9
52^76.56.97.5
7.9747.58.279
8.0
10915.117 3
13.8ISfi16.919926.3
25.7?5 923.322.5
1 Equals GNP in constant dollars measured as the sum of incomes less GNP in constant dollars measured as the sum of gross productby industry.
Note.-—The industry classification is on an establishment basis and is based on the 1972 Standard Industrial Classification.Source: Department of Commerce, Bureau of Economic Analysis.
245
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-12.—Gross domestic product of nonfinancial corporate business, 1929-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
192919331939194019411942.1943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
197019711972197319741975197619771978197919801981198219831984 »
1982:1tlIIIIV
1983:1IIIIIIV
1984:
IIIllIV*1
Grossdomes-
ticproduct
ofnon-
financialcorpo-rate
business
50.124.443.750.465.682.998.7
102.195,399.3
120.0137.3133.5
151.9174.5182.3195.0191.9216.7231.6242.3236.3266.0
277.0285.0311.3331.8358.4393.6431.5454.1500.2544.1
5637609.9678.0759.4818.9890.0
1,001.31,128.41,276.21,416.81,540.71,739.21,778.41,917.72,150.6
1,770.61,782.71787 81,772.4
1,812 31887 61,956.62,014.2
2 084 22,146.92,168.9
Capitalconsump-
tion
anceswith
capitalconsump-
tionadjust-ment
5.54,34.84.95.46.16.26.36.57.69.3
10.9117
12.614.615.816.817.919.121.823.824.825.8
26.827.528.429.430.832735.638.942.647.1
52.257.362.667.979.594.9
104.81157130.9149.6
170.0192.02097218.0231.0
203.82081212 0215.1
214 2215 3220.0222.5
225 6229.3232.9236.1
Total
44.520.239.0
45.460.276.892.495.888.891.8
1107126.4121.8
139.3159.9166.6178.2174.0197.6209.8218.5211.6240.2
250.2257.5283.0302.3327.6360,9395.9415.2457.6497.0
511.4552.6615.5691.6739.4795.1896.5
1,01271,145.31.267.3
1,37071,547.11,56871,69971.9197
1,566.91 574 71*575.8
1,598.21672 31,736.61,791.8
1858 61,917.61,936.0
Indi-rectbusi-nesstax,etc.1
3.43.85.15.56.46.87.38.18.9
10.111.212.112.6
14.115.216.818.217.419.220.822.422.825.4
28.330.133.035.638.441.142.945.851.558.0
63.470.576783789797.1
105.3112.6122.0130.5
147.61777180.21967214.8
177.9178.318081819
186 31964200*42037
207 3213.4216.9221.6
Total
41.216.333.9
40.053.870.085.287779.981.699.6
114.3109.2
125.2144.7149.7160.0156.6178.4189.0196.1188.8214.8
221.9227.3249.9266.8289.3319.8353.0369.5406.1439.1
448.1482.1538.7607.9649.7697.9791.2900.1
1,023.31,1367
1,22101,369.41,388.41,503.01,704.9
1,388.91,396.4l'395'o
1,411.91475 9i;536*21,588.0
165121704.21,719.1
Compen-sation
ofemploy-
ees
32.316728.2
31.239.851.062.265.161.967.279.187.885.3
947110.2118.31287126.5138.5151.4159.1155.9171.6
181.1185.1199.8210.7226.3246.12715291.9322.8358.5
378.4402.0447.0506.2556.5581.1654.4738.5844.3958.1
1,046.51,154.61,198.11,26111,392.4
1,187.21,199.21205 2l'200"9
1,215.91*247 71*277*81,310.8
1354 01384:51,405.21,425.9
Slet domestic product
Domestic income
Corporate profits with inventory valuation and capital
Total
7.5- 2 . 1
4.27.4
12717.721.821.617.111819725.622.9
29.633.430.230.028.638.335.934.930.240.1
37.438.345.651.257767772.268.873.367.5
52762.172778.663.686.1
107.3129.5142.11347
120.3147.4118.1171.02327
125.9121.4120910^1
128.8161 2188*0205.8
223 0240^231.6
Profitsbefore
tax
8.4.6
6.18.8
16.420.123.622.217.822.029.131.824.9
38.539.133.834.932.142.041.839.833743.1
39.739.544.248.955.465.270.366.372.969.4
56.865.476,696.0
105.3107.3135.0156.5178.4191.8
177.8177.3123.5148.8182.7
132.5128.5125 61014
110.8142 5170:4171.5
188 9195^173.8
consumption adjustments
Prof-itstax
liabil-ity
1.2.5
1.4277.5
11.213.812.610.28.6
10.811.89.3
16.921.217.818.515.620.220.119.116.220.7
19.219.520.622.824.027.229.527733.4311
27.029.833.640.042.041.252.659.666.969.2
67.061944.358.070.0
49.346.644 836^
41.956 467^667
74.5
64^
Profit*
Profits after tax
Total
7.3.1
476.19.08.99.89.67.6
13.418.320.015.6
21.617.916.016.416.421.821.820717.522.4
20.520.123.526.231.438.040.838.639.536.2
29.835.643.056.063.366.182.396.8
111.5122.5
110.8113.479.290.8
112.7
81181.88097L0
68.986 1
1034104.8
114 5118:6109.5
Divi-dends
5.12.03.33.53.9373.94.14.14.85.56.06.0
7.57.17.17.37.48.59.09.39.3
10.0
10.610.611.412.613715.616.817.519.119.1
18.518.520.121.121.425730.131.937739.8
43.753.456.862.869.9
56.855.557 557:6
61.162 963^63.9
65 970^70.972.2
Undis-tributedprofits
2.2- 1 . 9
1.42.65.05.25.85.63.58.6
12.814.09.6
14.110.88.89.19.0
13.412711.48.2
12.4
9.99.5
12.213.517722.424.021.220.417.1
11.317.122.935.041.940.452.264.973.882.8
67.160.022.428.042.9
26.326.323 4114
7.823 140^40.9
48 548^38.5
Inven-toryvalu-ation
adjust-ment
0.5- 2 . 1= 7- .2
- 2 . 5= 1.2- .8- .3= .6
=5.3=5.9=2.2
1.9
=5.0- 1 . 2
1.0= 1.0
—• 3- 1 7- 2 . 7- 1 . 5
— .3
— 2*3.0.1
- .5- 1 . 2- 2 . 1- 1 . 6=3 .7= 5.9
- 6 . 6=4 .6- 6 . 6
- 2 0 . 0- 4 0 . 0- 1 1 . 6- 1 4 7-16.2-24.0-43.1
=42.9-23.6
- 9 . 5-11.2
= 57
- 6 . 3— 8.910 1
= 12.6
=4.312*1
- 1 ^ 3=9.2
= 13 5- 7 ^
— 2- 1 7
Capitalconsump-
tionadjust-ment
- 1 . 4- .6
- 1 . 1
- 1 . 2- 1 . 3- 1 . 2- .9- .3=.2
- 3 . 0= 3.5- 4 . 0-3 .9
-3 .9-4 .6=4.5= 3.9=3.2-2 .0- 3 . 2- 3 . 4- 3 . 2= 2.7
-2 .1- 1 . 5
1.42.32.9373.94.04.04.0
2.41.3272.6
- 1 . 8=97
-13.0= 10.8-12.3-13.9
- 1 4 7- 6 . 3
4.133.4557
= .31.9549^
22.330 736^43.6
47 552^58.065.0
Netinter-est
1.4171.51.41.31.31.11.0IX7.8.9
1.0
.91.11.21.31.51.6172.2273.1
153.94.54.85.36.17.487
10.113.1
17.018.019.123.029.630.829.532.136.943.9
56.367.472.369.079.8
75.975.869068^
67.267 170:471.3
74 278^82.483.5
1 Indirect business tax and nontax liability plus business transfer payments less subsidies.Source: Department of Commerce, Bureau of Economic Analysis.
246
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-13.—Output, costs, and profits of nonfinancial corporate business, 1948-84
[Quarterly data at seasonally adjusted annual rates]
Year orquarter
19481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984 P.
1982:
IIZIIIII(V
1983:
lf"ZZlitIV
1984:
II*Ill
Gross domest icproduct of
nonfinancialcorporate
business (billionsof dollars)
Currentdollars
137.3133.5
151.9174.5182.3195.0191.9
216,7231.6242.3236.3266.0
277.0285.0311.3331.8358.4
393.6431.5454.1500.2544.1
563.7609.9678.07594818.9
890 01,001.31,128.41276 21,416.8
1,540.71,739.21,778.41,917.72,150.6
1,770.61,782.71,787.81,772.4
1,812.31,887.61,956.62,014.2
2,084.22,146.92,168.9
1972dollars
229.7219.9
247.5270.2275.2292.0283.4
315.1324.1328.3313.4347.4
358.4367.2399.7426.3455.6
495.2530.7543.0578.9604.0
599.6626.8678.0731.9708.2
694.2745.5795.88463876.1
859.5883.3857.4896.4976.5
865.1859.6858.5846.5
855.7886.2912.4931.1
956.9979.5980.0
Current-dollar cost and profit per unit of output (dollars)'
Totalcostand
profit2
0.598.607
.614
.646
.663
.668
.677
.688
.715
.738
.754
.766
.773
.776
.779
.778
.787
.795
.813
.836
.864
.901
.940
.9731.0001.0381.156
1.2821.3431.4181.5081.617
1.7931.9692.0742.1392.202
2.0472.0742.0832.094
2.1182.1302.1442.163
2.1782.1922.213
Capitalconsump-
tionallow-anceswith
capitalconsump-
tionadjust-ment
0.047.053
.051
.054
.057
.058
.063
,061.067,073.079.074
.075
.075
.071
.069
.068
.066
.067
.072
.074
.078
.087
.091
.092
.093
.112
.137
.141
.145
.155
.171
.198
.217
.245
.243
.237
.236
.242
.247
.254
.250
.243
.241
.239
.236
.234
.238
Indi-rectbusi-nesstax,etc 5
0.053.057
.057
.056
.061
.062
.061
.061
.064
.068
.073
.073
.079
.082
.083
.083
.084
.083
.081
.084
.089
.096
.106
.113
.113
.114
.127
140.141.141144
.149
.172
.201
.210
.219
.220
.206
.207
.211
.217
.218
.222
.220
.219
.217
.218
.221
Compen-sation
ofemploy-
ees
0.382.388
.383
.408
.430
.441
.446
.439
.467
.484
.497
.494
.505
.504
.500
.494
.497
.497
.515
.538
.558
.594
.631
.641
.659
.692
.786
837.878.928998
1.094
1.2181.3071,3971.4091.426
1.3721.3951.4041.419
1.4211.4081.4001,408
1.4151.4141.434
Corporate profits withinventory valuation and
capital consumptionadjustments
Total
0.112.104
.120
.124
.110
.103
.101.
.122
.111
.106
.097
.116
.104
.104
.114
.120
.127
.137
.136
.127
.127
.112
.088
.099
.107
.107
.090
.124
.144
.163168
.154
.140
.167
.138
.191
.238
.145
.141
.141
.123
.151
.182
.206
.221
.233
.246
.236
Profitstax
liability
0.051.042
.068
.079
.065
.063
.055
.064
.062
.058
.052
.060
.054
.053
.052
.053
.053
.055
.056
.051
.058
.055
.045
.047
.049
.055
.059
.059
.071
.075079.079
.078
.072
.052
.065
.072
.057
.054
.052
.043
.049
.064
.073
.072
.078
.079
.066
Profitsaftertax*
0.060.062
.051
.045
.045
.040
.046
.057
.049
.048
.045
.056
.051
.051
.062
.067
.074
.082
.080
.076
.069
.057
.043
.052
.058
.053
.030
.065
.073
.088
.089
.075
.062
.095
.086
.126
.167
.088
.087
.089
.080
.102
.118,133.149
.155
.167
.171
Netinterest
0.004.004
.004
.004
.004
.004
.005
.005
.005
.007,009.009
.010
.011
.011
.011
.012
.012
.014
.016
.017
.022
.028
.029
.028
.031
.042
.044
.040
.040
.044
.050
.065
.076
.084
.077
.082
.088
.088
.080
.081
.079
.076
.077
.077
.078
.081
.084
Outputper nour
of allemploy-
ees(1972
dollars)
5.2065.433
5.5365.7275.9976.2486.469
6.6736.7766.8477.0747.092
7.1157.4507.6647.8497.555
7.7747.9988,1418.2098.194
8,1188.2718.3578.634
8.3178.3138.4068.398
8.4648.6178.7288.725
8.8018.8638.807
Compen-sation
per houroff all
employ-ees
(dollars)
2.5892.684
2.7972.8872.9983.0893.213
3.3163.4923.6803.9454.209
4.4914.7785.0525.4295.937
6.5077,0217.5558.1918.961
9.88410.81111.67712.166
11.41311.59611.80111.913
12.02712.13112.22412.283
12.45412.52812.628
1 Output is measured by gross domestic product of nonfinancial corporate business in 1972 dollars.2 This is equal to the deflator for gross domestic product of nonfinancial corporate business with the decimal point shifted two
places to the left.3 Indirect business tax and nontax liability plus business transfer payments less subsidies.4 With inventory valuation and capital consumption adjustments.Sources: Department of Commerce (Bureau of Economic Analysis) and Department of Labor (Bureau of Labor Statistics).
247
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-14.—Personal consumption expenditures, 1929-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarterPersonalconsump-
tionexpendi-
tures
77.345.867.0
71.080.888.699.4
108.2119.5143.8161.7174.7178.1
192.0207.1217.1229.7235.8253.7266.0280.4289.5310.8
324.9335.0355.2374.6400.5430.4465.1490.3536.9581.8
621.7672.2737.1812.0888.1976.4
1,084.31,204.41,346.51,507.2
1,668.11,849.11,984.92.155.92,342.3
1,931.31,960.92,001.32,046.1
2,070.42,141.62,181.42,230.2
2,276.52,332.72,361.42,398.6
Durablegoods
9.23.56.7
7.89.76.96.56.78.0
15.820.422.925.0
30.829.829.132.531.838.637.939.336.8424
43.141.646.751.456.463.068.070.180.585.7
85.297.2
111.1123.3121.5132.2156.8178.2200.2213.4
214.7235.4245.1279.8318.4
239.4241.6244.5255.0
259.4276.1284.1299.8
310.9320.7317.2324.7
Nondura-ble goods
37.722.335.1
37.042.950.858.664.371.982.790.996.694.9
98.2108.8113.911G.5118.0122.9128.9135.2139.8146.4
151.1155.3161.6167.1176.9188.6204.7212.6230.6247.8
265.7278.8300.6333.4373.4407.3441.7478.8528.2600.0
668.8730.7757.5801.7858.3
746.4750.6762.5770.6
775.2796.9811.7823.0
841.3858.3861.4872.1
Services
30.320.125.2
26.228.231.034.337.139.645.350.455.358.2
63.068.574.080.686.192.199.2
105.9112.8121.9
130.7138.1147.0156.1167.1178.7192.4207.6225.8248.2
270.8296.2325.3355.2393.2437.0485.7547.4618.0693.7
784.5883.0982.2
1,074.41,165.7
945.4968.6994.2
1,020.6
1,035.81,068.61,085.71,107.5
1,124.41,153.71,182.81,201.8
Durable good
Motorvehicles
and parts
3.31.12.3
2.83.5
.7
.8
.81.04.16.68.0
10.6
13.712.211.313.913.017.815.817.214.818.9
19.717,821.524.426.130.030.430.136.338.7
36.245.452.457.150.455.872.684.895.796.6
90.7101.9108.7129.3149.5
106.2105.1108.1115.3
115.3128.4132.0141.7
147.7152.3148.6149.4
Furnitureand
householdequip-ment
4.71.93.4
3.84.84.63.93.84.58.4
10.611.511.3
13.714.014.014.614.616.217.116.916.617.8
17.717.918.920.322.824.727.729.532.334.1
35.237.241.747.150.653.559.165.772.881.8
86.392.394.4
104.1117.1
92.194.494.596.6
99.1102.4105.2109.8
113.0116.6116.8122.0
j
Other
1.2.5
1.0
1.11.31.61.92.12.53.23.33.43.2
3.33.63.94.14.24.65.05.25.45.8
5.85.86.36.77.68.39.9
10.511.813.0
13.914.616.919.220.522.925.227.731.735.1
37.741.242.146.451.8
41.242.141.943.1
45.045.346.948.2
50.351.751.953.3
Nondurab
Food
19.511.519.1
20.223.428.433.236.740.647.452.354.252.5
53.960.463.464.465.467.269.973.676.479.1
81.183.285.587.892.798.9
106.6109.6118.7127.5
138.9144.2154.9172.1193.7213.6230.6249.8275.9311.6
345.1373.9392.8416.5444.3
384.2390.6396.0400.3
406.7413.6420.5425,1
433.9442.1448.6452.6
Clothingand
shoes
1929....1933....1939....
1940...,1941...,1942...,1943...1944,..1945...1946...,1947....1948...,1949...,
1950...,1951...1952...1953...1954...1955...1956...1957...1958...1959...
1960...1961...1962...1963...1964...1965...1966...1967...1968...1969...
1970...1971...1972...1973...1974...1975...1976...1977...1978...1979...
1980...1981...1982...1983...1984"
1982:IIIIII....IV....
1983:IIIIll ....IV....
1984:
if!!!!III....IV.
9.44.67.1
7.58.8
11.013.414.616.518.218.820.119.3
19.621.221.922.122.123.124.124.324.726.1
26.727.428729.531.933.536.638.242,145.5
46.850.655.461.464.869.675.382.692.499.1
104.6114.3118.8127.0140.3
118.0118.0119.0120.0
121.6127.1126.8132.5
136.1142.2139.3143.7
See next page for continuation of table.
248
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-14.—Personal consumption expenditures, 1929-84—Continued
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
19291933 _1939
1940. .1941194219431944194519461947..19481949
1950195119521953195419551956195719581959
I960196119621963196419651966196719681969
197019711972197319741975197619771978..1979
19801981198219831984 ".
1982:1H ,HIIV
1983:1IIIllIV....
1984:1IIIll
Nondurable goods—cont'd
Gasolineand oil
1.81.52.2
2.32.62.11.31.4183.44.04.85.3
5.56.16.8747.88.69.4
10.210.611.3
12.012.012.612.913.514.716.017.018 620.7
22.423 925.428.636 640.444.048.151.266.6
84.894.690.490 091.7
93.488.689.989.6
86.789.592.191.7
92.092.890.092.0
Fuel oiland coal
1.61.21.4
1.51.71.92.02.0222.5303.43.1
3.43.53.4343.53.83.94.14.24.0
3.83.73.74.04.14.44.74.8474.5
4.4455.06.2778.29.8
10.711.916.1
18.620.720.621021.3
20.620.121.120.7
18.621.022.422.1
22.521.621.119.8
Other
5.43.55.3
5.66.47.58.79.6
10 811.312 814.114.7
15.817.618.319 319.220.321.623.024.025.9
27.529.031.132.834.637.240.943.046 549.6
53.255 559.865.070 575.582.187.696.9
106.6
115.7127.1135.0147 2160.7
130.2133.3136.5139.9
141.7145.7149.8151.5
156.7159.7162.5163.9
Services
Housing >
11.78.19.4
9.710.411.211.812.312 814.216.017.919.6
21.724.327.029.832.234.336.739.342.045.0
48.151.254.758.061.465.569.574.179 887.0
93.9102 7112.5123.8137 4149.8166.5185.9209.6236.0
266.2302.0333.8363 3397.8
323.4329.3337.3345.2
352.6359.2366.8374.7
382.4392.4403.3413.3
Household operation
Total
4.02.83.8
4.04.34.85.25.9646.87.58.18.5
9.510.411.112.012.614.015.216.217.318.5
20.121.022.223.424.826.328.030.032 235.0
37.741045.249.655 263.371.681.190.199.3
113.0127.5143.4153 8164.1
140.0142.0144.4147.3
147.0155.0155.7157.5
158.8163.3167.6166.8
Electricityand gas
1.21.11.4
1.51.51.61.71.8192.1232.62.9
3.33.74.14.55.05.56.16.57.17.6
8.38.89.49.9
10.410.911.512.213.114.2
15.417 018.820.524 029.232.938.542.947.8
57.665.875.281385.8
74.574.475.276.9
75.182.683.684.0
82.686.188.486.1
Other
2.91.7? 4
2.62.73.23.54.1454.75.15.45.6
6.26.77.07.57.68.59.29.7
10.210.9
11.812.212.813.614.415.416.517.819.220.8
22.224.026.429.131.234.138.742.647.251.5
55.461.768.272.578.3
65.567.769.270.5
71.972.572.173.5
76.277.279.280.7
Transpor-tation
2.61.52.0
2.12.42.73.43.7405.05.35.85.9
6.26.77.17.87.98.28.63.09.3
10.1
10.711.211.712.212.813.715.016.217.619.5
22.025.127.528.830 933.238.646.451.256.3
61.165.068.272.578.2
66.067.969.769.3
70.271.173.974.8
76.177.678.580.5
Other
Total
12.07.7
10.0
10.311.212.213.915.216 419.421723.624.1
25.627.028.831033.335.638.741.444.348.3
51.754.858.362.568.173.379.987.296.2
106.8
117.2127.4140.1153.0169.8190.7209.0234.1267.1302.0
344.3388.5436.8484.8525.5
415.9429.5442.9458.7
466.1483.2489,3500.5
507.1520.4533.4541.2
Medicalcare
2.21.52.1
2.22.42.62.93.33 64.55.56.36.4
6.97.38.08.99.7
10.311.012.013.114.3
15.416.418.019.522.323.926.028.431.436.5
41.045.951.457.464.573.783.396.5
108.4124.1
145.1170.6193.1209.9227.4
184.5191.1196.3200.5
203.6208.4211.3216.3
219.4224.9230.0235.1
1 Includes imputed rental value of owner-occupied housing.Source: Department of Commerce, Bureau of Economic Analysis.
249
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-15.—Gross and net private domestic investment, 1929-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Grossprivatedomes-
ticinvest-ment
Less:Capital
con-sumption
allow-anceswith
capitalcon-
sumptionadjust-ment
Equals: Net private domestic investment
Total
Net fixed invest meat
Total
Nonresidential
Total Struc-tures
Pro-ducers'durableequip-ment
Residential
TotalNon-farmstruc-tures
Farmstruc-tures
Pro-ducers'durableequip-ment
ChangeIn
busi-nessinven*tories
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
197019711972 . .1973197419751976197719781979
19801981 "198219831984 "
1982:III..IllIV
1983:
II'ZZIllIV
1984:
vi"ZZ'ZZIIIIV P
16.21.49.3
13.117.99.95.87.210.630.734.045.935.3
53.859.252.153.352.768.471.069.261.978.1
75.974.885.490.997.4113.5125.7122.8133.3149.3
144.2166.4195.0229.8228.7206.1257.9324.1386.6423.0
401.9484.2414.9471.6637.3
436.2431.2415.9376.2
405.0449.6491.9540.0
623.8627.0662.8635.5
9.77.48.7
9.110.011.211.511.712.214.017.320.221.8
23.527.229.331.032.734.838.741.743.544.9
46.347.549.050.652.956.060.765.972.180.0
88.196.5
106.4116.5136.0159.3175.0195.2222.5256.0
293.2330.3358.8377.1402.9
350.4356.1361.4367.5
368.2371.2382.8386.4
391.8400.0406.9412.8
6.5- 6 . 0
.6
4.17.9
- 1 . 3- 5 . 7- 4 . 6- 1 . 616.616.625.613.5
30.332.022.822.420.033.632.327.518.433.2
29.627.336.540.344.557.565.057.061.269.3
56.269.988.6
113.392.746.882.8
128.9164.1167.0
108.7153.956.094.5
234.4
85.875.154.58.7
36.878.4
109.1153.6
232.0227.0255.9222.7
4.8=4.5
1.93.4
- 3 . 0- 5 . 0- 3 . 6
- . 610.317.120.916.6
23.521.719.721.921.627.627.626.119.927.5
26.724.930.234.438.947.650.946.653.359.5
52.962.378.494.878.553.771.0
105.9137.7152.7
118.5127.982.1
108.0177.6
102.886.069.869.8
79.797.8
113.4140.9
158.2176.4184.1191.6
3.1- 3 . 5
- . 6
2.0- 2 . 5- 3 . 5-1 .7
1.36.6
10.211.38.1
9.610.79.1
10.89.1
11.913.914.38.1
10.6
12.310.914.015.319.728.935.431.933.638.1
33.931.137.051.949.230.334.350.773.689.0
77.090.661.349.8
107.2
1.7- 1 . 6- 1 . 0
- . 7- . 3
-1 .7- 2 . 6- 2 . 0- 1 . 2
\\2.72.3
2.93.93.84.85.15.97.97.96.46.4
7.37.37.97.89.1
12.914.813.814.516.6
16.315.616.620.718.913.114.116.023.333.7
36.250.949.935.452.9
1.4- 1 . 8
1.42.2
- . 7- . 9
1A4.28.28.65.8
6.76.75.36.04.06.06.06.41.84.2
5.03.66.17.5
10.616.020.618.219.121.5
17.615.520.431.230.317.320.234.750.455.3
40.939.711.414.354.3
1.7-1 .0
1.21.5
- . 6- 1 . 6- 1 . 9- 1 . 8
3.76.89.78.5
13.911.010.611.112.515.713.711.811.816.9
14.414.016.219.019.118.715.514.719.821.3
19.031.241.342.929.323.436.855.264.063.7
41.537.320.958.270.4
1.7- . 9
.8
1.11.4
~\A-1 .7- 1 . 6
3.46.49.17.9
13.410.610.310.812.215.613.411.711.616.7
14.313.916.118.818.918.615.314.519.621.0
18.930.940.942.528.423.136.554.563.363.2
41.237.721.359.170.8
-0 .1
- . 0
!o.0.0
- . 0.0.0
~.i- . 0- . 2- . 2
~A.2
-1.1
-.2
- . 9
-~L3- 1 . 1
0.0- . 0
.0
.0
.0- . 0
- i l- . 1
.1
.2
.2
.1
.X
.1
.1
.1
.1
.1
.1
.1
.1
.1
.2
.2
.3
.4
!ei.5'.S.6.7
.6
.5
'.5.7
1.7-1 .6
.4
2.24.51.8
- . 6-1 .0-1 .0
6.4
47-3 .1
6.810.33.1
.4- 1 . 5
6.04,71.3
- 1 . 55.7
3.02.36.36.05.69.9
14.110.37.99,8
3.27.7
10.218.514.1
-6 .911.823.026.514.3
-9 .826.0
-26.1-13.5
56.8
-17.0-10.9= 15.3-61.1
-42.9-19.4- 4 . 312.7
73.850.671.831.1
Source: Department of Commerce, Bureau of Economic Analysis.
250Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-16.—Gross and net private domestic investment in 1972 dollars, 1929-84
[Billions of 1972 dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Grossprivatedomes-
ticinvest-ment
Capitalcon-
sumptionallow-anceswith
capitalcon-
sumptionadjust-ment
Equals: Net private domestic investment
Total
Net fixed investment
Total
Nonresidential
Total Struc-tures
Pro-ducers'durableequip-ment
Residential
TotalNon-farmstruc-tures
Farmstruc-tures
. Pro-ducers'durableequip-ment
Changein
busi-ness
inven-tories
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
196019611962 „.1963196419651966196719681969
197019711972197319741975 „1976197719781979
19801981198219831984 p
1982:
IIZZZZZZinIV
1983:|IIIllIV
1984:I||IIIIV P
55.88.4
33.6
44.555.«29.518.119.727.770.970.082.165.4
93.593.983.085.383.1
103.8102.697.087.5
108.0
104.7103.9117.6125.1133.0151.9163.0154.9161.6171.4
158.5173.9195.0217.5195.5154.8184.5214.2236.7236.3
208.5230.9194.3221.0289.7
204.7200.4194.3177.8
191.3212.6230.6249.5
285.5283.9300.2289.1
33.633.032.1
32.433.133.332.632.132.334.036.138.540.7
42.845.347.549.852.154.256.558.660.361.6
63.3-65JO66.969.071.674.878.782.887.191.6
96.1100.2106.4110.8116.1120.8125.1129.9135.8143.0
149.8156.3161.9168.1175.1
159.7161.0162.3164.5
165.0166.7170.1170.6
172.2174.1176.0178.1
22.3-24.6
1.5
12.222.7
- 3 . 8-14.6-12.4- 4 . 636.933.943.624.7
50.748.735.435.631.149.546.138.427.246.4
41.438.950.756.061.477.284.372.174.579.8
62.473.688.6
106.879.334.059.484.3
100.993.3
58.774.532.452.9
114.6
45.039.432.013.3
26.345.960.578.9
U3.3109.8124.2111.0
17.7-19.8
6.010.6
- 9 . 0-14.7-10.1
- 1 . 024.834.138.129.1
40.135.031.134.133.341.840.336.929.039.3
37.935.942.948.554.365.467.559.965.568.8
58.765.678.489.667.740.851.671.184.986.0
63.163.242.956.590.4
51.743.438.437.9
42.852.059.671.7
81.789.593.696.8
11.7-14.7- 3 . 1
1.65.7
- 7 . 3-10.2-5 .1
3.616.621.521.614.8
17.017.815.117.514.719.021.120.412.215.4
17.616.120.121.627.339.446.740.841.044.4
37.732.737.050.343.423.025.636.349.254.6
44.347.734.633.062.9
7.8-8 .5- 4 . 0
- 2 . 6- . 7
- 5 . 8- 8 . 2-6 .6-3 .6
6.85.05.85.0
6.17.26.98.59.1
10.412.812.310.210.2
1L811.912.812.414.319.821.719.319.220.5
18.616.616.619.414.9S.S9.39.5
13.016.5
15.318.717.612.419.1
3.8- 6 . 2
.9
4.26.3
- 1 . 5- 2 . 0
1.57.29.8
16.515.89.7
10.910.68.29.05.68.68.38.12.05.2
5.84.27.39.1
13.019.725.021.521.823.9
19.116.120.430.928.514.216.326.836.238.1
29.129.116.920.543.8
6.0- 5 . 1
3.0
4.35.0
- 1 . 8- 4 . 5- 5 . 0-4 .6
8.212.616.514.4
23.217.116.016.618.622.819.216.516.923.9
20.319.822.826.927.026.020.819.124.524.3
21.032.941.339.324.317.826.034.735.631.4
18.715.58.3
23.627.5
6.2- 4 . 6
3.0
4.14.7
- 1 . 6- 4 . 1- 4 . 6- 4 . 1
7.711.915.613.5
22.416,515.516.118.222.718.816.316.623.6
20.219.622.626.726.825.820.618.924.324.0
20.932.640.938.923.517.525.834.235.131.0
18.415.68.4
23.827.5
-0.2- . 5
.0
.2
.2
~'.3- . 4
~*4.6.8
.6
.5
.4
.4
.3
.0
.2
.1
- . 1.1.0.0.1
- . 1.0.0
- . 1- . 1
- . 3
—.2
~'.2- . 2- . 1
!o- . 1
- . 1- . 4- . 3
-A
0.0.0.0
.1
!o
~!o.1
\z.1.2.1.1.1.1.1.1
.1
.1
.1
1.2
11
A
A.5.6
'.6.4.4.5.5
.4
.3
.2
A
4.6- 4 . 9
1.6
6.212.05.2
-2.3- 3 . 612.2
-4.4
10.613.74.31.5
- 2 . 27.75.81.5
-1 .87.0
3.53.07.87.57.1
11.816.812.29.0
11.1
3.88.1
10.217.211.6
-6 .77.8
13.316.07.3
-4 .411.3
-10.4- 3 . 624.2
-6 .7- 4 . 0- 6 . 4
-24.6
-16.5- 6 . 1
.97.2
31.620.330.614.2
Source: Department of Commerce, Bureau of Economic Analysts.
251
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-17 .—Inventories and final sales oj business, 1946-84
[Billions of dollars, except as noted; seasonally adjusted]
Quarter
Inventories'
Total
72.082.687.278.7
98.0110.5109.2110.1107.6
114.8124.0127.6127.3132.0
136.0137.9144.6150.4156.2
170.5187.4199.4213.5234.6
244.0260.8288.7357.7434.4
439.4473.6519.5602.3705.0
775.4826.6806.7818.4876.5
821.0824.7823.4806.7
799.8800.1809.3818.4
845.2856.4870.7876.5
Farm
22.725.122.919.8
26.128.326.024.623.8
22.522.924.325.624.4
25.625.927.327.626.5
29.929.629.530.633.3
32.336.745.666.662.4
64.560.659.973.981.9
86.383.780.280.683.8
87.589.085.280.2
82.178.076.580.6
85.385.084.283.8
Total
49.357.564.359.0
71.982.283.185.583.9
92.2101.0103.3101.7107.6
110.4112.1117.3122.7129.7
140.6157.8169.9182.9201.3
211.6224.1243.1291.2372.0
374.9413.0459.6528.3623.1
689.0742.8726.5737.8792.7
733.5735.7738.3726.5
717.7722.1732.8737,8
759.9771.4786.5792.7
f
Manu-facturing
26.729.332.528.9
35.243.444.446.444.3
48.854.554.853.255.7
56.657.760.962.966.4
71.581.788.795.2
104.8
108.4109.9116.8141.1189.6
189.8207.5224.7254.2306.6
341.4363.3343.4339.5364.0
357.7353.2350.7343.4
335.2336.3339.3339.5
348.3356.6364.4364.0
Yonfarm
Whole-sale
trade
10.110.511.711.8
13.814.614.815.015.3
16.617.918.218.320.0
20.420.921.523.124.4
26.329.932.434.337.7
41.744.949.460.276.9
77.386.998.7
114.6135.7
155.9164.1161.3163.6177.4
160.6163.4162.9161.3
157.8157.6161.5163.6
167.6171.0175.6177.4
Retailtrade
11.413.115.114.0
17.518.017.718.318.5
20.921.722.922.923.9
25.324.926.327.629.0
31.934.635.339.042.8
44.350.555.764.874.1
74.682.993.7
109.0121.0
128.0139.5140.1151.0164.4
137.7138.5142.0140.1
141.9144.6147.2151.0
159.2159.7160.8164.4
Other
3.54.65.04.3
5.46.16.25.85.9
6.06.97.37.38.0
8.18.78.69.29.9
10.911.613.514.416.0
17.318.821.225.031.3
33.335.742.550.659.8
63.875.981.783.686.9
77.680.682.781.7
82.883.684.883.6
84.884.185.786.9
Finalsales 2
16.018.319.619.5
21.724.626.127.227.5
29.731.432.733.735.6
36.938.841.143.746.2
51.054.157.663.367.4
70.877.285.894.5
102.0
113.6124.1138.9159.5176.9
194.6211.9223.2241.2263.9
214.6216.2217.7223.2
226.3231.4235.9241.2
245.3254.7256.4263.9
Inventory—finalM A | A * MH4JA
saies raiio
Total
4.504.514.444.03
4.534.494.184.053.91
3.863.953.903.773.71
3.693.553.523.443.38
3.343.463.463.373.48
3.453.383.373.794.26
3.873.823.743.783.99
3.983.903.613.393.32
3.833.823.783.61
3.533.463.433.39
3.453.363.403.32
Non-farm3
3.03.13.23.C
3.33.33.13.13.C
3.13.23.13.C3.C
2.92.82.82i2i
2.72.92.92.82.9
2.92.S2.83.C3.6
3.33.33.33.33.5
3.53.53.23.C3.C
3.43.43.33.2
3.13.;3.13.0
3.13.03.03.0
Fourth quarter:1946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984"
1982:|II "IIIIV
1983:
liizzuziinIV
1984:
liZZZIinIV P
1 End of quarter.2 Quarterly totals at monthly rates. Business final sales equals final sales less gross product of households and institutions,
government, and rest of the world, and includes a small amount of final sales by farms.3 Ratio based on total business final sales, which 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 1972 Standard Industrial
Classification (SIC) beginning 1948 and on the 1942 SIC prior to 1948.Source-. Department of Commerce, Bureau of Economic Analysts.
252Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-18.—Inventories and final sales of business in 1972 dollars, 1947-84
[Billions of 1972 dollars, except as noted; seasonally adjusted]
Quarter
Inventories'
Total
116.1121.6117.2
127.7141.4145.7147.2145.0
152.8158.6160.1158.3165.3
168.8171.8179.7187.2194.3
206.1222.9235.1244.1255.1
258.9267.0277.2294.4306.0
299.2307.0320.3336.3343.6
339.2350.5340.1336.5360.6
348.8347.8346.2340.1
336.0334.4
. 334.6336.5
344.3349.4357.1360.6
Farm
25.726.726.2
27.529.130.430.231.1
31.530.731.432.432.4
32.833.234.535.735.1
36.236.036.837.037.3
37.739.239.842.141.8
43.041.140.840.843.2
40.944.343.138.942.8
44.844.644.143.1
41.940.538.838.9
40.240.641.742.8
Nonfarm
Total
90.594.891.0
100.2112.3115.4117.1114.0
121.2127.8128.7125.9132.9
136.1138.6145.2151.5159.2
169.9186.8198.3207.0217.8
221.2227.8237.4252.3264.2
256.3265.9279.5295.5300.4
298.4306.2297.0297.6317.8
304.0303.2302.2297.0
294.0293.9295.8297.6
304.1308.8315.4317.8
Manu-facturing
47.448.846.2
49.360.062.764.560.9
64.369.168.766.169.1
69.971.775.678.282.0
87.097.2
104.1108.4112.8
112.9111.8114.4121.8130.9
127.1130.9134.1139.8145.0
145.9148.1139.4135.9144.8
146.7144.7142.8139.4
136.5136.2135.9135.9
138.2141.6144.9144.8
Whole-sale
trade
16.017.217.2
19.219.720.120.320.6
22.122.822.522.524.6
25.125.726.628.429.9
31.635.337.838.941.2
44.045.947.950.454.1
52.255.559.763.564.7
66.267.065.965.471.1
66.367.166.765.9
64.563.864.665.4
66.667.970.371.1
Retailtrade
18.320.319.8
23.023.023.023.623.7
26.526.827.827.528.7
30.329.831.633.0
. 34.5
37.440.040.043.045.9
46.151.254.658.858.3
55.858.863.167.366.1
63.265.764.567.973.2
64.964.565.664.5
65.265.866.567.9
70.771.171.873.2
Other
8.78.67.8
8.79.59.68.78.8
8.49.29.89.8
10.5
10.711.411.412.012.8
13.814.316.316.817.9
18.219.020.521.420.9
21.120.822.624.924.6
23.025.527.128.328.8
26.126.927.127.1
27.828.128.828.3
28.628.128.428.8
Finalsafes2
33.234.434.6
36.939.841.643.043.1
45.646.547.148.149.7
50.753.155.358.360.9
66.167.570.173.874.7
75.278.984.787.285.0
88.192.297.6
103.0105.4
104.9105.3106.5111.5118.3
105.3104.7104.8106.5
106:8108.7110.1111.5
112.7116.2115.7118.3
Inventory—finalsales ratio
Total
3.503.533.38
3.463.553.513.423.36
3.353.413.403.293.33
3.333.243.253.213.19
3.123.303.363.313.41
3.443.383.273.383.60
3.403.333.283.273.26
3.233.333.193.023.05
3.313.323.303.19
3.153.083.043.02
3.063.013.093.05
Non-farm 3
2.732.762.63
2.722.822.782.722.64
2.662.752.732.622.68
2.682.612.622.602.61
2.572.772.832.812.92
2.942.892.802.893.11
2.912.882.862.872.85
2.842.912.792.672.69
2.892.902.882.79
2.752.702.692.67
2.702.662.732.69
Fourth quarter:194719481949
19501951195219531954
19551956195719581959
1960196119621963...1964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984 P.
1982:IIIIllIV
1983:
tiZZZ"""IllIV
1984:I
\\ZZ"ZZ'ZIII
1 End of quarter.2 Quarterly totals at monthly rates. Business final sales equals final sales less gross product of households and institutions,government, and rest of world, and includes a small amount of final sales by farms.
3 Ratio based on total business final sales, which 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 1972 Standard Industrial
Classification (SIC) beginning 1948 and on the 1942 SIC prior to 1948.Source: Department of Commerce, Bureau of Economic Analysis.
253Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-19.—Relation of gross national product, net national product, and national income, 1929-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1929 .19331939 ,„
194019411942194319441945 ,.1946194719481949
195019511952195319541955195619571958 ...1959
1960196119621963196419651966196719681969
1970197119721973 ,197419751976197719781979
19801981198219831984 *
1982:
IIIIIIV
1983:
||IllIV
1984:|IIMlIV P
Grossnationalproduct
103.455.890.9
100.0125.0158 5192.1210.6212.4209.8233.1259.5258.3
286.5330.8348.0366.8366.8400 0421.7444 0449.7487.9
506 5524.6565 0596.7637 7691.1756 0799.6873 4944.0
992.71077 61185 91326.41,434.21 549.21,718.01 918.32,163.92,417.8
2,631.72,957.83,069.33 304.83,661.3
3,026.03,061.23,080.13,109.6
3173 83 267 03,346.63,431.7
3,553.33,644.73 694.63,752.5
Less:Capital
consump-tion
allowanceswith
capitalconsump-
tionadjustment
9.77.48.7
9.110.011.211.511.712.214.017.320.221.8
23.527.229.331.032.734.838.741743.544.9
46 347.549 050.652 956.060 765.972180.0
88.196 5
1064116.5136.0159.3175.0195.2222.5256.0
293.2330.3358.8377.1402.9
350.4356.1361.4367.5
368 23712382.8386.4
391.8400.0406.9412.8
Equals:Net
nationalproduct
93.748.482.2
91.0115.0147.3180.7198.9200.2195.8215.7239.3236.5
263.0303.6318.7335.8334.1365.3383,0402 3406.2443.0
460 2477.05161546.1584 8635.06953733.78013864.0
904,7981.1
1079 51,209 91,298.21,389.91,543.01,723 21,941.42,161.7
2,338.52,627.52,710.42,927.73,258.4
2,675.72,705.12,718.82,742.2
2 805 62395 82,963.93,045.4
3,161.53,244.73,287.73,339.8
less:
Indirectbusinesstax andnontaxliability
7.17.19.4
10.111.311.812.814.215.517.118.420.121.3
23.425.327.729.729.632.235.137.538.741.8
45448.051,654.658.862.665.370.278.986.6
94.3103.71115120.9129.1140.1151.7165.7178.2189.6
213.4251.3258.8280.4304.3
254.7256.1260.1264.2
266 9279 9284,7290.1
295.5301.3306.6313.7
Busi-ness
transferpay-
ments
0.6
.5
.4
.5
.5
.5
.5
.5
.6
.8
.8
.91.01.21.11.21.41.51.61.8
2.02.02.12.42.72.83.03.13.43.9
4.14.44.95.55.87.47.98.69.3
10.3
11.712.914.115.617.3
13.613.914.314.7
15 015 415.816.2
16.717.117.518.0
Statis-tical
discrep-ancy
1.1.7
1.4
1.1.6
- .8- 1 . 8
2.74.1,5
1.5- 1 . 6
.6
1.33.21.72.32.01.3
-2 .1- 1 . 2
.2- 1 . 3
- 2 . 4- .12.11.7
- 1 . 21.4
- .3-2 .1- 3 . 9
- 1 . 54.13.3
.83.75.55.11.4
- 2 . 6- 1 . 5
2.35.6
.5- 8 . 2
- 8 . 3-3 .1- . 910.5
7.54.1
-4 .8=4.8
2.2- 9 . 0
-13,0
Plus:Subsidies
lesscurrentsurplus
ofgovern-
mententer-prises
- 0 . 2- .0
.4
.4
.1
.1
.1
.6
.7
.9- .2- .1
.3
.1= .1=.3- .5- .3- .0
,7.7
1.1.1
.41.71.81.11,71.62.51.61,41.9
2,92.63.83.41.12.41.03.13.73.4
5.56.18.8
15.614.4
6.65.77.0
15.9
10.812.716.222.6
26.49.68.4
13.3
Equals:Nationalincome
84.839.971.4
79.7102.7135.9169.3182.1180.7178.6194.9219.9213.6
237.6274.1287.9302.1301.1330.5349.4365.2366.9400.8
415.7428.8462.0488.5524.9572.4628.1662.2722.5779.3
810.7871.5963.6
1,086.21,160.71,239.41,379.21,550.51,760.31,966.7
2,116.62,363.82,446.82,646.72,959.4
2,422.32,443.92,452.42,468.6
2,527.02,609.02,684.42,766.5
2,873.52,944.82,984.9
Source: Department of Commerce, Bureau of Economic Analysis.
254Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-20.—Relation of national income and personal income, 1929-84
[Billions of doffars; quarterly data at seasonally adjusted annual rates]
Year or quarter
19291933 ..1939
19401941 ....19421943 ...1944194519461947 ..19481949
19501951195219531954 ...19551956 ....19571958 ....1959
1960 . .1961196219631964 ....196519661967 ...19681969
19701971 ..197219731974197519761977 ..19781979
19801981 ...1982 .19831984 p
1982:
ItIIIIV
1983:111IIIIV
1984:IIIIllIV *
Nationalincome
84.839 971.4
79.7102 7135.9169 3182.1180 7178.6194 9219.9213.6
237 6274.1287 9302.13011330.53494365 2366.9400.8
415 7428.8462 0488.5524.9572 4628.1662.2722.5779.3
810.78715963.6
1 086 21160 71,239.41 379.21550 51760 31,966.7
2 116.62 363 82 446 82 646 72,959.4
2,422.32 443.92 452 42,468.6
2,527.02 609.02,684.42,766.5
2 873.52,944.82,984.9
Less:
Corporateprofitswith
inventoryvaluation
andcapital
consump-tion
adjust-ments
9.0- 1 7
5.3
8.614,119.323.523.619 016.622 329.427.1
33 938.736136.335 245.543 743 338.549.6
47 648.656 662.169.280 085.182 489.1851
71.483 296.6
108 394 9
110.51381167 3192 4194.8
175.4189 91591225 2284.5
159.91617163 3151.6
179.1216.7245.0260.0
277.4291.1282.8
Netinterest
4.74.13.6
3.33.33.12.72.4221.8232.42.7
303.5404.4535.966799.6
10.3
11413.014 716.418.321024.427.630.034.8
41.446.551.260 276184.587.2
102 51217153.8
192.6241.0260 9256 6285.0
263.6268.5257.7253.8
254.2254.2259.2258.9
266.8282.8293.5297.1
Contribu-tions for
socialinsurance
0.23
2.1
2.32.83.5455.2616.1585.45.9
718.5909.1
10111.512 914 915.218.0
21121.924 327.328730 038.843.447.955.0
58.664 674.292 4
104 3110.9126.0140 61618186.9
203.7236.8251.3272 7305.9
248.3250.4252.3254.1
265.3270.2274.3281.0
298.9304.2308.1312.6
Wageaccruals
lessdisburse-
ments
0.0.0.0
.0
.0
.02
— 2.0
- . 0.0.0
- . 0
o.1
- 0- . 1o
.0
.0
o.0.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.6
.0—.1- .5
.0
.0
.0,2
- . 2
- . 0.1
- .0- .4
.0
- . 1.0.0.0
.0- 1 . 3
.0
.2
.2- . 4
.2
PIUS:
Govern-ment
transferpayments
topersons
0.91.52.5
2.72.62.72.53.15.6
10.811210.611.7
14 411.612112.915116.217.320124.325.2
27.030.831.633.434.837.641.649.556.462.8
76.190.099.8
114.0135.4170.9186.4199.3214.6240.0
285.9324.4361.9389.3399.5
342.2352.0368.4385.2
384.8391.9388.1392.5
394.7398.1401.0404.3
Personalinterestincome
6.95.55.4
5.35.35.25.15.25.96.67.68.18.7
9.710.511.212.513.714.916.718.820.322.5
25.026.429.032.235.639.744.448.353.461.1
69.474.880.993.9
112.4123.2132.5152.8179.4218.7
266.0331.8366.6376.3434.8
363.6373.2366.4363,0
366.0368.8382.3388.2
403.9425.6449.3460.1
Personaldividendincome
5.82.03.8
4.04.44.34.44.64.65.66.37.07.2
888.58.58.89.1
10.311.111.511.312.2
12.913.314.415.517.319.119.420.221.922.4
11122.6
. 24.126.529.129.936.539.645.350.8
56.864.366.570.377.7
66.565.966.167.4
68.569.170.772.8
75.077.278.580.2
Businesstransfer
payments
0.6
.5
.4
.5
.5
.5
'&.7.8
8.9
101.21.11.21.41,51.61.8
2.02.02.12.42.72.83.03.13.43.9
4.14.44.95.55.87.47.98.69.3
10.3
11.712.914.115.617.3
13.613.914.314.7
15.015.415.816.2
16.717.117.518.0
Equals:
Personalincome
85.047.072.4
77.995.4
122.6150.8164.5170.0177.6190.1209.0206.4
227.2254.9271.8287.7289.6310.3332.6351.0361.1384.4
402.3417.8443.6466.2499.2540.7588.2630.0690.6754.7
811.1868.4951.4
1,065.21,168.61,265.0lt391.21,540.41,732.71,951.2
2,165.32,429.52,584.62,744.23,013.2
2,536.52,568.22,594.32,639.5
2,662.82,714.42,763.32,836.5
2,920.52,984.63,047.33,100.4
Source: Department of Commerce, Bureau of Economic Analysis.
255
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-21.—National income by type of income, 1929-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
Nationalincome'
Compensationof employees
TotalWages
andsalaries
Supple-ments
towages
andsal-
aries2
Proprietors' income with inventory valuation and capital consumptionadjustments
Total
Farm
TotalPropri-etors'
in-come3
Capitalconsump-
tionadjust-
Nonfarm
TotalPropri-etors'
in-come4
Inven-tory
valua-tion
adjust-ment
Capitalconsump-
tionadjust-ment
L9291933.........1939
19401941942943i9441945194619471948194919501951195219531954 Z..19551956195719581959
I9601961196219631964196519661967196819691970197119721973197419751976197719781979 "'.'".
1981198219831984"
1982:IIIIllIV
1983:
||IIIIV
1984:1II 'IIIIV P
84.839.971.479.7
102.7135,9169,3182.1180.7178.6194.9219.9213.6237.62741287.9302.1301.1330 5349.4365 2366.9400.8415.7428.8462.0488 5524.9572.4628.1662.2722 5779.3810.7871.59636
1,086.21,160.71239 4U79.21,550.51,760.31,966.7
2,116.62,363.82,446.82,646.72,959.4
2,422.32,443.92 452 42,468.6
2,527.02,609.02,684.42,766.5
2,873.52 944 821984.9
51.129.548.1
52.164.885.3
109.5121.2123.1118.1129.2141.4141.3
154.8181.0195.7209.6208.4224.9243.5256.5258.2279.6
294.9303.6325.1342.9368.0396.5439.3471.4519.9572.9
612.0652.2718.0801.3877.5931.4
1,036.31,152.11,301.11,458.1
1,599.61,765.41,864.21,984.92,172.7
1,834.21,857.71,876.31,888.7
1,921.31,962.42,000.72,055.4
2,113.42,159.22,191.92,226.2
50.529.046.0
49.962.182.1
105.8116.7117.5112.0123.1135.5134.7
147.0171.3185.3198.5196.8211.7228.3239.3240.5258.9
271.9279.5298.0313.4336.1362.0398.4427.0469.6515.7
548.7581.5635.2702.6765.2806.4889.9983.2
1,106.51,237.4
1,356.61.493.21,568.71,658.81,803.7
1,546.21,564.21,578.01,586.5
1,608.11,640.81,670.81,715.4
1,755.91,793.31,819.11,846.3
0.6
2 12.32.73.23.84.55.66.06.15.96.6
7.89.7
10.411.011.613.215.217.217.720.6
23.024.127.129.531.834.540.944.450.357.2
63.270.782.898.7
112.3125.0146.4168.9194.6220.7
243.0272.2295.5326.2369.0
288.0293.5298.3302.2
313.2321.6329.9340.0
357.4365.9372.8379.9
15.05.9
11.8
13.017.524.229.130.431.836.735.940.936.4
38.743.243.441.841,242.943.945.347.747.6
47.248.649.950.552.556.960.561.264.067.0
66.269.476.993.888.790.094.1
103.9118.5132.1
117.4125.1111.1121.7154.7
116.8107.7102.2117.6
114.7116.9123.3131.9
154.9149.8153.7160.4
6.12.54.4
4.46.4
10.112.012.012.414.915.117.612.8
13.716.115.113.112.511.511.211.113.210.9
11.712.112.312.010.813.114.112.612.714.6
14.315.018.732.826.524.619.119.126.331.9
21.831.521.813.828.3
30.019.212.725.4
16.410.111.217.3
32.523.427.329.9
6.32.64.5
4.56.5
10.312.212.212.715.215.718.213.5
14.416.916.013.913.312.212.112.114.111.9
12.612.913.012.811.513.814.913.513.715.7
15.616.420.434.629.028.022.823.331.337.8
28.939.430.222.136.5
38.327.621.033.9
24.818.419.625.7
40.731.735.538.1
- 0 . 2
~-l
~'.2
-'.3
— 5- ! 6
— .7
9- . 9
- 1 . 0
- . 9- . 8- . 8
- 7— 7- ! 8- . 9
- 1 . 0- 1 . 2
- 1 . 3- 1 . 4-1 .6-1 .8- 2 . 5- 3 . 4-3 .7- 4 . 3- 5 . 0-5 .9
- 7 . 1- 7 . 9- 8 . 4- 8 . 4- 8 . 2
- 8 . 3- 8 . 4- 8 . 3-8 .5
- 8 . 4-8 .4- 8 . 4- 8 . 3
-=8.3- 8 . 3- 8 . 2- 8 . 2
8.93.37.48.6
11.114.117.118.419.421.820.823.323.6
25.027.228.228.628.731.432.734.234.536.7
35.536.537.638.541.743.846.448.651.352.5
51.954.458.161.062.265.475.084.892.2
100.2
95.693789.2
107.9126.4
86.888.589.592.1
98.3106.8112.1114.6
122.5126.3126.4130.6
3,97.6
8.611.714.417.118.319.323.321.823.122.2
25.126.426.927.627.630.531.833.133.235.3
34.235.336.437.240.242.745.347.550.651.9
51.754.558.162.365.867.477.186.894.9
103.2
100.394.087.6
100.4114.6
84.887.488.090.4
93.099.4
103.8105.5
112.4115.0113.8117.1
0.1- . 5
- . 0- . 6-=.4- . 2=> 1- ! i
-1 .7- 1 . 5
- . 4.5
-1 .1- . 3
.2- . 2= .0= .2
-13
~!o.0.0
- . 0= .0- . 1= .2- . 2- . 2- . 4- . 5= .5= .6
- l ! o- 3 . 7- 1 . 2- 1 . 2- 1 . 2- 2 . 0= 2.9
-3 .1- 1 . 3
= .2- . 6•= 5
!6
- 1 . 3
- 1 . 2
.1
=0.1.0
- . 0
.0
.0
.2
.2
1.01,01.11.21.21.21,41.41.41.4
1.31.21.21.41.51.31.31.31.11.1
.6
-A= .9=-.8
!
- 1 . 51.02.18.3
12.3
2.2172.02.3
5.68.39.59.7
11.211.812.513.6
1 National income is the total net income earned in production. It differs from gross national product mainly in that it excludesdepreciation charges and other allowances for business and institutional consumption of durable capital goods and indirect businesstaxes. See Table B-19.2 Employer contributions for social insurance and to private pension, health, and welfare funds; workers' compensation; directors'fees; and a few other minor items.
See next page for continuation of table.
256
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-21.—National income by type of income, 1929-84—Continued
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Rental income of personswith capital consumption
adjustment
Total
Rentalincome
ofpersons
Capitalcon-
sumpiionadjust-ment
Corporate profits with inventory valuation and capital consumption adjustments
Total
Profits with inventori l
inventory valuation adjustment and withoutcapital consumption adjustment
Total
Profits
Profitsbefore
tax
Profitstax
liability
Profits after tax
TotalDivi-
dends
Undis-tributedprofits
Inven-toryvalu-ation
adjust-ment
Capitalcon-
sumptionadjust-ment
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973.:197419751976197719781979
19801981198219831984 ^
1982:IIfIllIV
1983:IIIIllIV
1984:IIIIllIV.
4.92.22.6
2.73.14.04.44.54.65.55.35.76.1
7.17.78.8
10.011.011.311.612.212.913.6
14.515.015.816.517.118.018.719.719.519.6
19.720.221.022.623.523.023.524.826.627.9
31.542.351.558.362.5
47.848.352.957.0
57.759.056.260.4
61.062.063.063.8
5.72.33.1
3.33.95.05.65.96.27.37.78.58.9
10.011.012.213.414.414.815.215.916.717.4
18.018.419.119.720.221.222.323.624.025.2
25.827.129.032.135.336.839.244.050.056.2
63.977.988.496.6
103.0
85.385.389.893.1
94.996.096.699.1
99.9102.5104.2105.3
- 0 . 8
- . 6- . 8
-1 .0-1.2-1 .4-1 .6-1 .8-2 .5-2 .8-2 .8
-2 .9- 3 . 3-3 .4-3 .4- 3 . 3-3 .5-3 .6-3 .6-3 .8-3 .8
-3 .5-3 .4-3 .4-3 .2-3 .2-3 .3-3 .6-3 .9-4 .5-5 .6
- 6 . 1-6 .9-8 .0-9 .5
-11.8-13.8-15.6-19.1-23.4-28.3
-32.4-35.6-36.9-38.3-40.5
-37.6-37.0-36.9-36.1
- 3 7 . 2- 3 7 . 0- 4 0 . 3- 3 8 . 7
-38.8-40.6-41.2-41.5
9.0-1 .7
5.3
8.614.119.323.523.619.016.622.329.427.1
33.938.736.136.335.245.543.743.338.549.6
47.648.656.662.169.280.085.182.489.185.1
71.483.296.6
108.394.9
110.5138.1167.3192.4194.8
175.4189.9159.1225.2284.5
159.9161.7163.3151.6
179.1216.7245.0260,0
277.4291.1282.8
10.5-1 .2
6.5
9.815.420.524.524.019.319.625.933.431.1
37.943.340.640.238.447.546.946.641.652.3
49.750.055.159.766.076.080.978.184.9
68.982.094.0
105.696.7
120.6151.6178.5205.1209.6
191.7197.6156.0192.0228.6
161.3160.9158.8143.2
157.3186.1208.1216.3
229.8238.7224.5
10.01.07.2
10.017.921.725.324.219.824.831.835.629.2
42.944.539.641.238.749.249.648.141.952.6
49.849.755.059.666.577.283.079.788.586.7
75.486.6
100.6125.6136.7132.1166.3194.7229.1252.7
234.6221.2165.5203.2234.3
167.6169.8168.9155.8
161.7198.2227.4225.5
243.3246.0224.8
1.4.5
1.4
2.87.6
11.414.112.910.79.1
11.312.410.2
17.922.619.420.317.622.022.021.419.023.6
22.722.824.026.228.030.933.732.539.239.5
34.237.541.649.051.650.663.872.783.287.6
84.881.160.775.888.4
62.962.961.955.0
59.174.884.784.5
92.795.883.1
8.6.4
5.7
7.210.310.311.211.39.1
15.720.523.219.0
25.021.920.220.921.127.227.626.722.928.9
27.126.931.133.438.546.349.447.249.447.2
41.349.058.976.685.181.5
102.5122.0145.9165.1
149.8140.0104.8127.4145.8
104.7106.9107.0100.8
102.6123.4142.6141.1
150.6150.2141.7
5.82.03.8
4.04.44.34.44.64.65.66.37.07.2
8.88.58.58.89.1
10.311.111.511.312.2
12.913.314.415.517.319.119.420.222.022.5
22.522.924.427.029.930.837.440.847.052.7
58.666.569.272.980.5
69.268.669.070.2
71.171.773.375.4
77.779.981.383.0
2.8-1 .6
2.0
3.25.86.06.76.74.5
10.214.216.211.8
16.213.411.812.111.916.916.615.211.616.7
14.313.616.617.921.227.229.927.027.324.7
18.826.134.549.655.250.765,181.298.9
112.4
91.273.535.654.565.3
35.538.238.130.6
31.451.769.365.6
72.970.260.3
0.5-2 .1= .7
-Ii5-1 .2
= .8
-A= 5.3- 5 . 9- 2 . 2
1.9
-5 .0-1 .2
1.0-1 .0
- ~ U-2 .7-1 .5
- . 3- . 3
- . 2.3.0.1
-~L2- 2 . 1-1 .6-3 .7-5 .9
-6 .6-4 .6-6 .6
-20.0-40.0-11.6-14.7-16.2-24.0-43.1
-42.9-23.6
=9.5-11.2-5 .7
=6.3-8 .9
-10.1-12.6
-4 .3= 12.1-19.3-9 .2
-13.5- 7 . 3
-7.7
-1 .4= .6
-1 .1
-1 .2-1 .3-1 .2-1 .0
- . 3- . 2
= 3.0= 3.6-4 .0-3 .9
-4 .0-4 .6-4 .5-3 .9-3 .2-2 .0-3 .2-3 .4-3 .2= 2.7
-2 .0-1 .4
1.52.53.14.04.24.34.34.3
2.51.32.72.7
-1 .8-10.1-13.5-11.3-12.7-14.8
-16.3-7 .6
3.133.255.9
-1 .4.8
4.58.4
21.730.636.943.6
47.652.358.365.5
3 With inventory valuation adjustment and without capital consumption adjustment.4 Without inventory valuation and capital consumption adjustments.
Source: Department of Commerce, Bureau of Economic Analysis.
257Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-22.—Sources of personal income, 1929-64
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter Personalincome
85.047.072.4
77.995.4
122.6150.8164.5170.0177.6190.1209.0206.4
227.2254.9271.8287.7289.6310.3332.6351.0361.1384.4
402.3417.8443.6466.2499.2540.7588.2630.0690.6754.7
811.1868.4951.4
1,065.21,168.61,265.01,391.21,540.41,732.71,951.2
2.165.32,429.52,584.62,744.23,013.2
2,536.52,568.22,594.32,639.5
2,662.82,714.42,763.32,836.5
2,920.52,984.63,047.33,100.4
Wage and salary disbursements'
Total
50.529.046.0
49.962.182.1
105.6116.9117.5112.0123.1135.5134.8
147.0171.3185.4198.6196.8211.7228.3239.3240.5258.9
271.9279.5298.0313.4336.1362.0398.4427.0469.6515.7
548.7580.9635.2702.7765.7806.4889.9983.2
1,106.31,237.6
1,356.71,493.11,568.71,659.21,803.6
1,546.31,564.21.578,01,586.4
1,608.11.642.11.671.31,715.4
1,755.71,793.11,819.51,846.1
Commodity-producingindustries
Total
21.59.8
17.4
19.727.539.149.050.445.946.054.261.157.8
64.876.382.089.685.793.1
100.6104.2100.0109.6
113.1113.7121.8126.9135.4146.0161.0168.3183.4199.6
203.0208.3227.3254.3274.7275.0307.3343.6389.4438.4
468.1509.3509.3519.3569.0
515.3514.9508.1498.9
503.5511.4523.5539.0
555.9567.0573.3579.9
Manu-facturing
16.17.8
13.6
15.621.730.940.942.938.236.542.547.144.6
50.359.364.171.267.573.879.482.478.686.8
89.789.896.7
100.6107.1115.5128.0134.1145.8157.5
158.2160.3175.4196.2211.4211.0237.4266.0299.2333.9
354.6385.5382.9395.2433.8
386.1386.7382.7376.0
380.5389.3399.1411.9
424.6432.2
• 436.4441.9
Distrib-utive
tnrliictnaus-tries
15.68.8
13.3
14.216.318.020.122.724.831.035.237.537.7
39.844.346.949.750.153.457.760.560.864.8
68.269.372.876.381.487.294.4
100.9110.0120.8
130.3139.4152.1168.3184.6195.6216.6239.5270.7303.4
330.7361.6378.6398.6432.0
372.5377.0381.2383.8
386.0395.4399.7413.2
419.2429.5436.4442.9
Serviceindus-tries
8.45.27.1
7.58.19.09.9
10.911.914.316.117.918.5
19.821.523.124.926.128.631.333.635.638.5
41.444.147.250.254.458.964.771.379.689.7
98.3106.7118.2131.3145.6159.7177.4197.7226.6259.7
297.6337.7374.3413.1452.8
359.6368.9380.3388.3
398.3409.1417.0428.2
437.9449.3457.3466.7
Govern*meritand
govern-mententer-prises
5.05.28.2
8.510.216.026.633.034.920.717.519.020.8
22.629.233.334.434.936.638.841.044.146.0
49.252.456.360.064.969.978.386.496.6
105.5
117.1126.5137.5148,7160.9176.1188.7202.4219.5236.2
260.3284.6306.6328.2349.8
299.0303.5308.4315.4
320.4326.2331.0335.0
342.8347.3352.4356.7
Otherlabor
income1
0.5.4.6
.6
.7
.91.11.51.82.02.42.72.9
3.74.65.25.96.17.08.09.09.4
10.6
11.211.813.014.015.717.819.921.725.228.5
32.536.743.048.855.864.575.989.4
102.5114.9
128.0140.0155.5173.1195.5
149.7154.0157.9160.6
164,4169.9175.9182.1
188.1193.5198.1202.5
Proprietor!ufith mil
>' incomeWIW irtvcinuiyvaluation andcapconsunadjustr
Farm
6.12.54.4
4.46.4
10.112.012.012.414.915.117.612.8
13.716.115.113.112.511.511.211.113.210.9
11.712.112.312.010.813.114.112.612.714.6
14.315.018.732.826.524.619.119.126.331.9
21.831.521.813.828.3
30.019.212.725.4
16.410.111.217.3
32.523.427.329.9
tallption
Nonfarm
8.93.37.4
8.611,114.117.118.419.421.820.823 3
25.027.228,228,628.731.432.734.234.536.7
35.536.537.638.541.743.846.448.651.352.5
51.954.458.161.062.265.475.084.892.2
100.2
95.693.789.2
107.9126.4
86.888.589.592.1
98.3106.8112.1114.6
122.5126.3126.4130.6
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
196019611962196319641965....19661967....1968....1969....
1970....1971....1972 „..1973....1974....1975....1976....1977....1978....1979....
1980....1981....1982....1983....1984 »..
1982:
ILZin
IV
1983:
IlZ!!Ill
IV
1984:
IlZ"IIIIV "...1 The total of wage and salary disbursements and other labor income differs from compensation of employees in Table B-21 in that it
excludes employer contributions for social insurance and the excess of wage accruals over wage disbursements.See next page for continuation of table.
258Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-22.—Sources of personal income, 1929-84—Continued
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Rentalincome
ofpersons
withcapital
con-sumptionadjust-ment
Personaldividendincome
Personalinterestincome
Transfer payments
Total
Old-age,survivors,disability,
andhealthinsur-ance
benefits
Govern-ment
unem-ployment
insur-ance
benefits
Veteransbenefits
Govern-ment
employ-ees
retire-ment
benefits
Aid tofamilies
withdepend-
entchildren(AFDC)
Other
Less:Personalcontribu-tions for
socialinsurance
192919331939....
1940....1941....1942....1943....194419451946....1947....1948....1949....
4,92.2
1950195119521953195419551956195719581959
19601961196219631964196519661967......19681969197019711972197319741975197619771978197919801981198219831984 "..
1982:IIIIllIV
1983:[
HI........IV
1984:|IIIllIV P
2.6
2.73.14.04.44.54.65.55.35.76.1
7.17.78.8
10.0U.O11.311.612.212.913.6
14.515.015.816.517.118.018.719.719.519.6
19.720.221.022.623.523.023.524.826.627.9
31.542.351.558.362.5
47.848.352.957.0
57.759.056.260.4
61.062.063.063.8
5.82.03.8
4.04.44.34.44.64.65.66.37.07.2
8.88.58.58.89.1
10.311.111.511.312.2
12.913.314.415.517.319.119.420.221.922.4
22.222.624.126.529.129.936.539.645.350.8
56.864.366.570.377.7
66.565.966.167.4
68.569.170.772.8
75.077.278.580.2
6.95.55.4
5.35.35.25.15.25.96.67.68.18.7
9.710.511.212.513.714.916.718.820.322.5
25.026.429.032.235.639.744.448.353.461.1
69.474.880.993.9
112.4123.2132.5152.8179.4218.7
266.0331.8366.6376.3434.8
363.6373.2366.4363.0
366.0368.8382.3388.2
403.9425.6449.3460.1
1.52.13.0
3.13.13.13.03.66.2
11.311.711.312.5
15.212.613.114.116.217.518.721.625.927.0
28.932.833.835.837.440.444.752.659.866.7
80.194.4
104.7119.5141.2178.3194.3207.9223.8250.3
297.6337.3376.1405.0416.9
355.8365.9382.6399.9
399.8407.3403.9408.8
411.3415.2418.6422.4
0.0
.0
.1
.1
.2
!3.4.5.6
1.01.92.23.03.64.95.77.38.5
10.2
11.112.614.315.216.018.120.825.530.232.9
38.544.549.660.470.181.492.9
104.9116.2131.8
154.2182.0204.5221.6237.5
194.9197.2209.3216.7
216.6219.8222.4227.7
232.1235.2238.2244.5
0.4
.5
.4
.4
.1
!41.1.8.9
1.9
1.5.9
1.11.02.21.51.51.94.12.8
3.04.33.13.02.72.31.92.22.12.2
4.05.85.74.46.8
17.615.812.79.79.8
16.115.925.226.115.9
19.323.925.831.7
29.931.722.820.2
16.715.815.215.8
0.6.6.5
.5
.5
LO3.07.07.05.95.3
7.74.64.34.14.24.44.44.54.74.6
4.65.04.74.84.74.94.95.65.96.7
7.78.89.7
10.411.814.514.413.813.914.4
15.016.116.416.616.5
16.316.216.316.6
16.816.616.616.5
16.416.616.716.4
0.1.2.3
.3
.3
.3
.4
.4
.5
.7
.7
.7
.9
1.01.11.21.41.51.71.92.22.52.8
3.13.43.74.24.75.26.16.97.68.7
10.211.813.816.019.022.726.129.032.736.9
43.049.654.959.562.1
52.255.255.956.5
57.359.160.461.3
62.463.163.959.2
1.01.11.31.41.51.71.92.32.83.5
4.86.26.97.27.99.2
10.110.610.711.0
12.413.013.314.214.7
13.313.313.313.5
14.114.314.314.3
14.914.914.614.6
0.81.41.7
1.71.81.81.82.02.02.1
2.52.93.3
3.53.63.84.14.14.34.54.95.35.8
6.26.46.77.37.88.39.2
10.211.112.5
15.017.419.021.125.632.835.136.940.746.3
56.960.761.766.870.1
59.760.062.164.8
65.165.967.468.8
68.969.670.072.0
0.1
1.21.82.22.32.02.12.22.2
2.93.43.84.04.65.25.86.76.97.9
9.39.7
10.311.812.613.317.820.622.926.2
27.930.734.542.647.950.455.561.169.881.188.7
104.5111.4119.6132.5
110.0110.9111.9112.5
116.4118.5120.4123.2
129.6131.8133.4135.1
2 Personal income exclusive of farm proprietors' income, farm wages, farm other labor income, and farm net interest.Note.—The industry classification of wage and salary disbursements and proprietors' income is on an establishment basis and is
based on the 1972 Standard Industrial Classification (SIC) beginning 1948 and on the 1942 SIC prior to 1948.Source: Department of Commerce, Bureau of Economic Analysis.
259
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-23.—Disposition of personal income, 1929-84
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year or quarter Personalincome
Less:Personaltax andnontax
payments
Equals:Dispos-
ablepersonalincome
Less: Personal outlays
Total
Personalcon-
sumptionexpendi-
tures
Interestpaid by
consum-ers tobusi-ness
Per-sonal
transferpay-
mentsto
for-eigners(net)
Equals:Personalsaving
Percent of disposablepersonal income
Personal outlays
Total
Personalconsump-
tionexpend-itures
Personalsaving
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973 !197419751976197719781979
19801981198219831984 »
1982:
if!IllIV
1 9 8 3 :IIIIllIV
1 9 8 4 :I||IIIIV >
85.047.072.4
77.995.4
122.6150.8164.5170.0177.6190.1209.0206.4
227.2254.9271.8287.7289.6310.3332.6351.0361.1384.4
402.3417.8443.6466.2499.2540.7588.2630.0690.6754.7
811.1868.4951.4
1,065.21,168.61,265.01,391.21,540.41,732.71,951.2
2,165.32,429.52,584.62,744.23,013.2
2,536.52,568.22,594.32,639.5
2,662.82,714.42,763.32,836.5
2,920.52,984.63,047.33,100.4
2.61.42.4
2.63.35.9
17.818.920.818.721.421.018.5
20.628.934.035.532.535.439.742.442.146.0
50.452.156.860.358.664.974.582.197.2
115.7
115.8116.7141.0150.7170.2168.9196.8226.4258.7301.0
336.5387.7404.1404.2435.1
404.4411.4398.5402.0
401.4411.6395.8407.9
418.3430.3440.9451.0
82.445.670.0
75.392.2
116.6133.0145.6149.1158.9168.7188.0187.9
206.6226.0237.7252.2257.1275.0292.9308.6319.0338.4
352.0365.8386.8405.9440.6475.8513.7547.9593.4638.9
695.3751.8810.3914.5998.3
1,096.11,194.41,314.01,474.01,650.2
1,828.92,041.72,180.52,340.12,578.1
2,132.02,156.82,195.82,237.5
2,261.42,302.92,367.42,428.6
2,502.22,554.32,606.42,649.4
79.146.567.8
72.081.889.4
100.1109.0120.4145.2163.5176.9180.4
194.7210.0220.4233.7240.1258.5271.6286.4295.4317.3
332.3342.7363.5384.0411.0442.1477.7503.6551.5598.3
639.5691.1757.7835.5913.2
1,001.81,111.91,236.01,384.61,553.5
1,718.71,904.32,044.52,222.02,421.2
1,989.52,020.12,061.32,107.3
2,133.42,206.12,248.42,300.0
2,349.62,409.52,442.32,483.2
77.345.867.0
71.080.888.699.4
108.2119.5143.8161.7174.7178.1
192.0207.1217.1229.7235.8253.7266.0280.4289.5310.8
324.9335.0355.2374.6400.5430.4465.1490.3536.9581.8
621.7672.2737.1812.0888.1976.4
1,084.31,204.41,346.51,507.2
1,668.11,849.11,984.92,155.92,342.3
1,931.31,960.92,001.32,046.1
2,070.42,141.62,181.42,230.2
2,276.52,332.72,361.42,398.6
.9
!5
!s.7
1.01.41.7
2.32.52.93.63.84.45.15.55.66.1
7.07.37.88.89.9
11.112.012.513.815.6
16.717.719.522.324.124.426.730.737.445.5
49.654.458.565.177.7
57.057.958.860.2
62.163.665.968.7
71.975.779.883.4
0.32
2
\l.4.5
7.7
.4
.4
.4
.5
!4.5
!4.4
.4
.4
.5
.6
.6
!9
3.3- . 92.2
3.410.327.232.936.628.713.75.2
11.17.5
11.916.117.418.517.016.421.322.323.621.1
19.723.023.321.929.633.736.044.341.940.6
55.860.752.679.085.194.382.578.089.496.7
110.2137.4136.0118.1156.9
142.6136.7134.5130.2
128.096.7
119.0128.7
152.5144.8164.1166.2
96.0102.096.9
95.588.876.775.374.880.891.496.994.196.0
94.292.992.792.793.494.092.792.892.693.8
94.493.794.094.693.392.993.091.992.993.6
92.091.993.591.491.591.493.194,193.994.1
94.093.393.895.093.9
93.393.793.994.2
94.395.895.094.7
93.994.393.793.7
95.6
94.287.676.074.774.380.190.595.993.094.8
92.991.691.391.191.792.390.890.990.791.8
92.391.691.892.390.990.590.589.590.591.1
89.489.491.088.889.089.190.891.791.391.3
91.290.691.092.190.9
90.690.991.191.4
91.693.092.191.8
91.091.390.690.5
Source: Department of Commerce, Bureau of Economic Analysis.
260
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-24.—Total and per capita disposable personal income and personal consumption expenditures in
current and 1972 dollars, 1929-84
[Quarterly data at seasonally adjusted annual rates, except as noted]
Year or quarter
Disposable personal income
Total (billions ofdollars)
Currentdollars
1972dollars
Per capita(dollars)
Currentdollars
1972dollars
Personal consumption expenditures
Total (billions ofdollars)
Currentdollars
1972dollars
Per capita(dollars)
Currentdollars
1972dollars
Popula-tion(thou-sands) 1
1929193319391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979
19801981198219831984 P..
1982:IIIIllIV
1983:IIIIllIV
1984:IIIIllIV P...
82.445.670.075.392.2116.6133.0145.6149.1158.9168.7188.0187.9
206.6226.0237.7252.2257.1275.0292.9308.6319.0338.4352.0365.8386.8405.9440.6475.8513.7547.9593.4638.9695.3751.8810.3914.5998.3
1,096.11,194.41,314.01,474.01,650.2
1,828.92,041.72,180.52,340.12,578.1
2,132.02,156.82,195.82,237.5
2,261.42,302.92,367.42,428.6
2,502.22,554.32,606.42,649.4
229.5169.6229.8244.0277.9317.5332.1343.6338.1332.7318.8335.8336.8
362.8372.6383.2399.1403.2426.8446.2455.5460.7479.7489.7503.8524.9542.3580.8616.3646.8673.5701.3722.5751.6779.2810.3864.7857.5874.9906.8942.9988.8
1,015.7
1,021.61,049.31,058.31,095.41,169.5
1,052.81,054.81,057.91,067.6
1,073.11,082.01,102.21,124.3
1,147.61,165.31,176.51,188.7
676363534570691865973
1,0521,0661,1241,1701,2821,2591,3621,4651,5151,5811,5831,6641,7411,8021,8321,9111,9471,9912,0732,1442,2962,4482,6132,7572,9563,152
3,3903,6203,8604,3154,6675,0755,4775,9656,6217,331
8,0328.8749,3859,97710,893
9,2099,2959,4399,593
9,6759,83210,08210,318
10,60810,80611,00011,154
1,8831,3491,7541,8472,0832,3542,4292,4832,4162,3532,2122,2902,257
2,3922,4152,4412,5012,4832,5822,6532,6602,6452,709
2,7092,7422,8132,8653,0263,1713,2903,3893,4933,5643,6653,7523,8604,0804,0094,0514,1584,2804,4414,512
4,4874,5614,5554,6704,941
4,5484,5464,5484,578
4,5914,6194,6944,776
4,8654,9304,9655,004
77.345.867.0
71.080.888.699.4
108.2119.5143.8161.7174.7178.1
192.0207.1217.1229.7235.8253.7266.0280.4289.5310.8
324.9335.0355.2374.6400.5430.4465.1490.3536.9581.8
621.7672.2737.1812.0888.1976.4
1,084.31,204.41,346.51,507.2
1,668.11,849.11,984.92,155.92,342.3
1,931.31,960.92,001.32,046.1
2,070.42,141.62,181.42,230.2
2,276.52,332.72,361.42,398.6
215.1170.5219.8
229.9243.6241.1248.2255.2270.9301.0305.8312.2319.3
. 337.3341.6350.1363.4370.0394.1405.4413.8418.0440.4
452.0461.4482.0500.5528.0557.5585.7602.7634.4657.9
672.1696.8737.1767.9762.8779.4823.1864.3903.2927.6
931.8950.5963.3
1,009.21,062.6
953.7958.9964.2976.3
982.51,006.21,015.61,032.4
1,044.11,064.21,065.91,076.2
634364511
537605657727781854
1,0171,1221,1921,194
1,2661,3421,3831,4391,4521,5351,5811,6371,6621,755
1,7971,8231,9041,9792,0872,2142,3662,4672,6742,870
3,0313,2373,5113,8314,1524,5214,9725,4686,0486,695
7,3268.0378,5439,1929,897
8,3428,4518,6038.773
8,8589,1439,2909,475
9,6519,8699,966
10,098
1,7651,3561,678
1,7401,8261,7881,8151,8441,9362,1292,1222,1292,140
2,2242,2142,2302,2772,2782,3842,4102,4162,4002,487
2,5012,5112,5832,6442,7512,8682,9793,0323,1603,245
3,2773,3553,5113,6233,5663,6093,7743,9244,0574,121
4,0934,1314,1464,3034,490
4,1194,1334,1454,186
4,2034,2964,3254,386
4,4274,5024,4994,531
121,878125,690131,028
132,122133,402134,860136,739138,397139,928141,389144,126146,631149,188
151,684154,287156,954159,565162,391165,275168,221171,274174,141177,073
180,760183,742186,590189,300191,927194,347196,599198,752200,745202,736
205,089207,692209,924211,939213,898215,981218,086220,289222,629225,106
227,694230,068232,351234,542236,681
231,513232,027232,634233.230
233,742234,230234,811235,385
235,875236,369236,950237,531
1 Population of the United States including Armed Forces overseas; includes Alaska and Hawaii beginning 1960. Annual data are forJuly 1 through 1958 and are averages of quarterly data beginning 1960. Quarterly data are averages for the period. Data beginning1970 reflect results of the 1980 census of population.
Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census).
261Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-25.—Gross saving and investment, 1929-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
Gross saving
Total
Gross private saving
Total Personalsaving
Grossbusinesssaving >
Government surplus ordeficit ( - ) , national income
and product accounts
Total FederalStateandlocal
Capitalgrants
receivedby theUnitedStates(net)«
Gross investment
Total
Grossprivate
domesticinvest-ment
Netforeigninvest-ment3
Statis-tical
discrep-ancy
19291933193919401941194219431944194519461947194819491950195119521953 ....1954!195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984 P.
1982:\\zzrinIV
1983:
III....IV.. . .
1 9 8 4 :I
IIIIV P
15.9.9
13.518.610.75.42.45.2
35.141.749.835.650.756.951.049.850.967.575.975.262.678.381.178.786.793.6
104.0120.2127.3125.7136.0153.6
148.9161.6186.6235.5227.8218.9257.9309,1374.8422.7
405.9484.3408.8437.2551.0
447.0445.4397.9344.8
393.4414.7455.2485.7
543.9551.0556.4
14.92.2
11.014.222.442.049.654.344.729.627.341.439.042.750.854.856.758.164.470.774.375.379.978.083.090.592.9
106.3119.7128.6139.9142.0143.6158.6180.3189.2227.7234.5282.7294.4326.9374.0407.3435.4509.9524.0571.7
520.8523.0528.3524.0
545.1538.1588.6615.0
651.3660.2689.4
3.3- . 92.2
3.410.327.232.936.628.713.75.2
11.17.5
11.916.117.418.517.016.421.322.323.621.119.723.023.321.929.633.736.044.341.940.655.860,752.679.085.194.382.578.089.496.7
110.2137.4136.0118.1156.9
142.6136.7134.5130.2
128.096.7
119.0128.7
152.5144.8164.1166.2
11.63.18.8
10.812.114.816.717.616.015.922.130.231.530.734.837.438.241.147.949.452.051.758.758.360.067.271.076.786.092.795.6
100.0103.0102.8119.7136.6148.7149.4188.4211.9248.9284.6310.6325.2372.6388.0453.6518.4
378.2386.3393.8393.9
417.1441.4469.7486.4
498.8515.3525.3
1.0- 1 . 4- 2 . 2
- . 7- 3 . 8
- 3 1 . 4- 4 4 . 1-51 .8- 3 9 . 5
5.414.48.4
=3.48.06.1
- 3 . 8- 6 . 9- 7 . 1
3.15.2
.9-12 .6- 1 . 6
3.1- 4 . 3- 3 . 8
-Z.Z
-U-14.2
-6 .09.9
- 1 0 . 6-19 .4
- 3 . 37.8
-4.7- 6 3 . 8-36 .5- 1 7 . 8
.814.3
-30 .7-26 .7
-115.3-134 .5-124 .4
-73 .8-77 .6
-130 .4-179 .2
-151.7-123 .4-133 .5-129 .3
-=107.4-109.2-133 .0
1.2- 1 . 3- 2 . 2- 1 . 3=5.1
-33.1-46.6-54.5-42 .1
3.513.48.3
-2 .6
9.26.5
- 3 . 7- 7 . 1- 6 . 0
4.46.12.3
- 1 0 . 3- 1 . 1
3.0- 3 . 9- 4 . 2
.3- 3 . 3
.5- 1 . 8
- 1 3 . 2- 6 . 0
8.4- 1 2 . 4-22 .0= 16.8
- 5 . 6-11 .5»69.3-53 .1-45 .9-29 .5-16 .1-61 .2- 6 4 . 3
-148.2-178.6-176.4
-106.3-112.0- 1 6 3 7-210.6
-185.7-167.3-180.9-180.5
=-161.3-163.7= 180.6
=0.21
.61.31.82.52.72.61.91.0
- 7- 1 . 2
- . 4- . 0
.1- 1 . 1- 1 . 3
- . 9- 1 . 4- 2 . 4
- . 4' .1
- . 4
1.0- . 0
- 1 . 1.1
1.51.92.6
13.513.46.85.5
16.628.030.330.430.637.632.944.152.0
32.534.433.331.5
34.143.947.451.2
53.954.547.6
0.9
7.0
-2 .0.0.0.0.0
1.11.21.1
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
17.01.6
10.314719.29.83.75.29.3
35.643.248.336.252.060.152752.152.968.873.874.062.877.078778.688.895.3
104.2119.01287125.4133.9149.7147.4165.7189.9236.3231.5224.4263.0310.4372.3421.2408.2490.0408.3437.7542.8
4387442.2397.0355.3
400.9418.7450.3480.9
546.1542.0543.4539.6
16.21.49.3
13.117.99.95.87.2
10.630.734.045.935.353.859.252,153.352768.471.069.261.978.175.974,885.490.997.4
113.5125.7122.8133.3149.3144.2166.4195.0229.8228.7206.1257.9324.1386.6423.0401.9484.2414.9471.6637.3
436.2431.2415.9376.2
405.0449.6491.9540.0
623.8627.0662.8635.5
0.8
i!o1.51.3
- 2 . 0- 1 . 3
4.99.32.4
.9- 1 . 8
.9
.6-1 .3
.2
.4Z.Z4.8
.9- 1 . 2
2.83.83.44.46.85.43.02.6
.6
.43.2
- . 7=5.1
6.52.9
18.35.1
= 13.6= 14.3
- 1 . 86.35.8
=6.6-33 .9-94,5
2.511.1
-18 .9-20 .9
- 4 . 1=30.9-41 .5-59 .1
-77 .7=85.0= 119.4-95 .8
1.1.7
1.41.1
.6- . 8
- 1 . 82.74.1
.51.5
- 1 . 6.6
1.33.21.72.32.01.3
- 2 . 1- 1 . 2
- L 3=2.4
l ! l17
- L 21.4
«-- 3- 2 l l- 3 , 9- 1 . 5
4.13.3
.8375.55.11.4
= 2.6- 1 . 5
2.35.6
8!2
= 8.3- 3 . 1
- . 910.5
7.54.1
=4.8=4.8
2.2- 9 , 0
= 13.0
1 Undistributed corporate profits with inventory valuation and capital consumption adjustments, corporate and noncorporate capitalconsumption allowances with capital consumption adjustment, and private wage accruals less disbursements.
2 Allocations of special drawing rights (SDRs), except as noted in footnote 4.3 Net exports of goods and services less net transfers to foreigners and interest paid by government to foreigners plus capital grants
received by the United States, net.4 In February 1974, the U.S. Government paid to India $2,010 million in rupees under provisions of the Agricultural Trade
Development and Assistance Act. This transaction is being treated as capital grants paid to foreigners, i.e., a - $ 2 . 0 billion entry incapital grants received by the United States, net
Source: Department of Commerce, Bureau of Economic Analysis.
262Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-26.—Saving by individuals, 1946-84l
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1946194719481949
1950195119521953195419551956195719581959
196019611962.".".'"..'.1963196419651966196719681959
1970197119721973197411975...1976...1977...1978...1979...
1980...1981...1982...1983
1982:
IIIllIV
1983:
iiIllIV
1984:1II . .Ill
Total
24.620.124.320.9
30.634.731.332.528.234.137 236 534.138.0
36.735 942.046.756.865.072.476.980.071,4
86.295.4
10881334127.2151.7163.0166.5187.8200.3
234.7273.9296.3300.3
2919263.9309.8319.5
338.9295.0250.9316.5
318.3383.3326.6
Total
18.813.29.19.9
13.719.123.222.822.228.030.228631.637.4
32.135440.146.655.758.857.569.775.065.0
81.3101.913111503147!2174.4210.3235.7269.7293.9
326.3350.0369.8450.1
329 0351.9381.7416.4
427.8450.5410.5511.7
412.9571.9460.2
Check-able
depos-its
andcur-rency
5.6.1
- 2 . 9- 2 . 0
2.64.61.61.02.21.21.8
— 43.81.0
1.09
- 1 . 24.25.37.62.49.9
11.1—2.5
8.912.313 714.17.36.9
15.719.922.521.5
10.235.516.539.9
7.2.8
20.737.2
67.765.49.8
16.6
38.538.6
- 4 . 3
Timeandsav-ingsde-
posits
6.33.42.22.6
2.44.77.88.19.18.69.4
11913.911.0
12.018 326.126.226.127.819.035.331.19.1
43.667.774 262.651.184.2
106.2108.2102.174.4
126.566.7
119.2198.5
99.692.3
101.6183.2
251.9158.4199.4184.1
166.5248.5257.4
Increase
Moneymarketfund
shares
2.41.3
-.0.2
6.934.4
29.2107.524.7
- 4 4 . 1
38 240.588.1
-68 .1
-105 .2-62 .7
- 6 . 5- 1 . 8
44.915.420.5
in financial assei
Govern-ment
securi-ties 2
- 1 . 51.61.31.8
_ 1-'.&2.52.51.05.83.92.3
- 2 . 510.1
2.21.41.3.6
4.83.7
11.3- 1 . 2
5.225.9
- 5 . 4- 1 2 . 2
722.125.617.78.3
17.024.845.8
20.434.744.391.7
55.942.18.2
71.0
84.2145.866.769.9
97.2152.5135,3
Securities
Corpo-rateequi-ties3
1.11.11.0.7
.71.81.61.0
.81.02.01.51.5
.5
- .63
- 2 . 1- 2 . 6
- .2- 2 . 1
-.7- 4 . 7- 7 . 5
28
- 1 . 7- 5 . 5- 5 . 4- 6 . 2— 9
- 4 7- 5 . 0- 4 . 0- 5 . 2
- 1 8 . 3
- 8 . 0- 3 0 . 0
- 7 . 84.8
.418.9
- 2 3 . 3- 2 7 . 3
- 1 . 63.5
-13 .230.5
- 3 6 . 8- 4 4 . 4-42 .1
s
Othersecuri-ties*
- 0 . 9- .8
.0- .4
-.7.3.0.3
- .9.8
1.21.01.1
- .3
2.4.1.1
1.4.4
1.32.45.27.9
10.0
6.96.5248.63.6
.36.03.71.85.2
- 6 . 5- 1 5 . 4- 1 3 . 2
- 4 . 7
-24 .2-16 .2- 1 5 . 0
2.5
- 9 . 4- 2 9 . 9
- 8 . 929.2
- 1 7 . 410.3
- 5 . 7
Insur-anceand
pensionre-
serves5
5.35.45.35.6
6.96.37.77.97.88.59.59.5
10.411.9
11.512.112.713.916.116.919.218.619.821.5
23.927.434 338.847.054.960.171.886.795.0
116.2117.1150.1154.0
128.5135.0159.8177.2
147.5157.7151.2159.6
104.6121.278.1
Otherfinan-cialas-
sets '
2.82.42.21.6
1.91.92.02.12.12.12.52.83.53.3
3.64.33.22.93.23.74.06.67.63.9
5.25.6
11.210.311.113.819.218.930.236.0
38.333.936.010.1
23.238.641.540.7
- 7 . 412.311.923.6
15.429.820.9
Net investment in7
Owner-occu-pied
homes
3.66.79.18.4
11.811.711.312.312.716.715.613.212.316.3
14.812.713.514.315.014.513.511.715.716.3
13.620.728.031.025.224.239.254.467.068.2
56.247.624.154.9
23.724.121.627.0
36.549.963.769.7
71.175.876.3
Con-sumerdura-bles
6.19.09.8
10.6
14 811.38.6
10.17.1
12.28.5773.67.3
7.0438.5
11.815.020.223.121.127.026,3
20.026.634 640 428.426.540.049.656.752.5
32.839.135.561.5
34.532.832.941.8
44.860.265.175.9
83.089.482.7
Non-cor-
poratebusi-nessas-
sets8
2.31.86.91.8
684.52.31.01.92.91.2272.65.0
3.6477.59.89.2
13.310.810.210.012.7
11.517.520626.610.65.0
.213.122.026.0
- .324.111.9
.3
15.018.610.83.4
1.7- 1 . 9- 6 . 9
8.5
29.417.123.9
Less: Net incdebt
Mort-gagedebton
non-farm
homes
3.64.74.64.4
676.66.27.687
12.211.2899.5
12.8
11.712 214.116.217.517.013.812.516.918.6
14.126.241446538.040.661.490.8
111.5121.2
98.378.751.6
103.2
63.745.240.956.7
58.991.2
126.6136.0
119.2139.1132.6
Con-sumercredit
3.13.73.23.2
481.65.34.21.57.23929
.58.0
4.4256.38.99.8
10.66.557
11.510.8
5.414.719 824 39.99.6
25.440.248.845.4
6.326721.051.3
4.336.914.128.6
26.545.348.784.6
78.5124.287.5
rease in
Otherdebt* »
- 0 . 42.22.82.2
5037271.95.56.4323 j6i07.2
4.9657.2
10.710.814.312.217.619.219.4
20730.344 244236.328.339.955.367.373.7
75781.572.5
112.1
42 481.382.383.8
86.5127.2106.1128.8
80.4107.596.3
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.* 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.• Consists of security credit, mortgages, accident and health insurance reserves, and nonlife insurance claims for households and of
consumer credit, equity in sponsored agencies, and nonlife insurance claims for noncorporate business.7 Purchases of physical assets less depreciation.6 Includes data for corporate farms.9 Other debt consists of security credit, policy loans, and noncorporate business debt.Source: Board of Governors of the Federal Reserve System.
263Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-27.—Number and median income (in 1983 dollars) of families and persons, and poverty status,
by race, selected years, 1947-83
Year
Families »
Medianincome
Below poverty level
Total
Dum-ber
(mil-lions)
Rate
Femalehouseholder
Num-ber
(mil-lions)
Personsbelow
poverty level
Num-ber
(mil-lions)
Rate
Median income of persons 14 years oldand over with income *
Males
Allpersons
Year-round
full-timeworkers
Females
Allper-sons
Year-roundfull-timework-
ers
ALL RACES
19471950
48.549.250.150.851.6
56.256.757.257.859.6
60.361.061.462.0
46.547.648.548.949.4
49.950.150.550.952.2
52.753.353.453.9
$13,51913,736
16,43818,90719,10019,61720,33521,100
21,96823,12323,67224,72025,636
25,31725,30126,47327,01726,066
25,39626,17926,32026,93926,885
25,41824,52524,18724,580
26,26326,25327,50428,23727,08826,41227,19227,52228,05028,054
26,48425,76225,39425.757
16,11115,84316,34716,29716,175
16,25116,17515,72216,61415,886
15,32414,53214.03514,506
8.28.48.17.67.2
6.75.85.75.05.05.35.35.14.84.9
5.55.35.35.35.56.26.97.57.6
3.73.83.43.23.4
3.83.63.53.53.6
4.24.75.15.2
1.51.51.51.51.5
1.51.61.61.61.7
1.82.02.22.2
18.118.117.215.915.0
13.911.811.410.09.7
10.110.09.38.88.8
9.79.49.39.19.2
10.311.212.212.3
29.528.829.028.126.9
27.127.928.227.527.8
28.930.833.032.4
2.02.02.02.01.8
1.91.71.81.81.8
2.02.12.22.22.3
2.42.52.62.72.6
3.03.33.43.6
1.11.21.11.21.3
1,41.41.41.41.4
1.61.81.81.9
.91.01.01.0
1.01.11.21.21.2
1.31.41.51.5
42.442.142.940.436.4
38.433.133.332.332.7
32.533.932.732.232.1
32.533.031.731.430.4
32.734.636.336.0
25.026.524.324.524.8
25.925.224.023.522.325.727.427.928.3
54.353.553.352.752.2
50.152.251.050.649.4
49.452.956.253.8
39.939.638.636.436.1
33.228.527.825.424.1
25.425.624.523.023.425.925.024,724.526.1
29.331.834.435.3
17.517.816.215.115.7
17.816.716.416.317.2
19.721.623.524.0
22.221.921.019.519.0
17.314.714.212.812.1
12.612.5U.911.111.2
12.311.811.611.411.7
13.014.015.015.2
9.99.99.08.48.6
9.79.18.98,79.0
10.211.112.012.1
33.532.533.331.430.3
31.331.131.330.631.0
32.534.235.635.7
$9,94510,636
12,49313,72713,95214,40014,67814,926
15,86116,28916,57017,12517,472
17,11416,98117,74218,06117,076
16,38816,49716,64316,69916,168
15,15014,75914,39914,631
17,98917,80318,60918,95117,888
17,21517,39117,43217,49016,890
16,11515,66115,22215,401
10,62510,51411,20711,46311,083
10,29210,47110,34510,47810,631
9,6849,3129,1228,967
$15,78118,28218,86019,19019,75220,184
20,83421,35221,75022,37723,557
23,56423,69225,09625,71024,571
23,94224,25524,77624,52923,991
23,18222,66722,35222,508
24,23924,35926,00126,45525,050
24,49624,97825,28324,98424,685
23,84323,19922,94723,114
16,51116,65717,55917,83017,946
18,23017,89017,43119,13517,790
16,77616,41416,29816,410
$4,5353,944
4,1674,2434,2614,4204,4654,654
4,8025,0305,3745,7825,7945,7405,9246,1906,2686,227
6,2666,2596,4796,2125,974
5,9495,9796,0766,319
5,8146,0226,2306,3296,297
6,3316,3116,5786,2876,030
5,9816,0466,1596,421
5,2935,2775,82057125,685
5,7515,9475,6805,6615,488
5,5385,3715,4325,543
$10,17711,08711,12811,38711,57111,918
12,05112,36012,52713,08213,798
13,95814,02514,41514,54614,494
14,28914,54714,49114,72314,455
14,01413,64614,10314,479
14,20414,18714,69914,79214,617
14,32214,65914,58314,86214,581
14,15013,87414,29214,677
11,63812,52612,57412,54413,490
13,68313,70513,62913,77513,36113,19712,53012,77413,000
, or adoption and residing together; all suchr concept and restricted to primary families.
1 The term "family" refers to a croup of two or more persons related by blood, marriapersons are considered members of the same family. Beginning 1979, based on househol
'Beginning 1979, data are for persons 15 years and over.3 Based on revised methodology; comparable with succeeding years.4 Based on 1980 census popuTation 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 reflecteddifferent 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 price'index. For further details see "Current Population Reports," Series P-60, No. 147.
Source: Department of Commerce, Bureau of the Census.
264Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY
TABLE B-28.—Population by age groups, 1929-84
[Thousands of persons]
July 1 TotalAge (years)
Under 5 5-15 16-19 20-24 25-44 45-64 65 andover
1929
1933
1939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
I960....1961196219631964....
196519661967....1968....1969....1970....1971....1972....1973....1974....
1975....1976....1977....1978....1979....
1980....1981....1982....1983....1984....
121,767
125,579
130,880
132,122133,402134,860136,739138,397
139,928141,389144,126146,631149,188
152,271154,878157,553160,184163,026
165,931168,903171,984174,882177,830
180,671183,691186,538189,242191,889
194,303196,560198,712200,706202,677
205,052207,661209,896211,909213,854
215,973218,035220,239222,585225,055
227,738230,019232,309234,496236,634
11,734
10,612
10,418
10,57910,85011,30112,01612,524
12,97913,24414,40614,91915,607
16,41017,33317,31217,63818,057
18,56619,00319,49419,88720,175
20,34120,52220,46920,34220,165
19,82419,20818,56317,91317,376
17,16617,24417,10116,85116,487
16,12115,61715,56415,73516,063
16,45916,94917,37717,826
26,800
26,897
25,179
24,81124,51624,23124,09323,949
23,90724,10324,46825,20925,852
26,72127,27928,89430,22731,480
32,68233,99435,27236,44537,368
38,49439,76541,20541,62642,297
42,93843,70244,24444,62244,840
44,81644,59144,20343,58242,989
42,50842,09941,29840,42839,552
38,82338,07237,65337,323
9,127
9,302
9,822
9,8959,8409,7309,6079,561
9,3619,1199,0978,9528,788
8,5428,4468,4148,4608,637
8,7448,9169,1959,543
10,215
10,68311,02511,18012,00712,736
13,51614,31114,20014,45214,800
15,28915,68816,03916,44616,769
17,01717,19417,27617,28817,242
17,13916,69616,22315,649
10,694
11,152;
11,519
11,69011,80711,95512,06412,062
12,036i12,00411,81411,79411,700
11,68011,552'11,35011,06210,832
10,71410,61610,60310,75610,969
11,13411,48311,95912,714.13,269
13,74614,05015,24815,78616,480
17,20218,15918,15318,52118,975
19,52719,98620,49920,94621,297
21,62021,97721,98021,925
35,862
37,319
39,354
45,67246,10346,49546,78647,001
47,19447,37947,44047,33747,192
47,14047,08447,01346,99446,958
46,91247,00147,19447,72148,064
48,47348,93650,48251,74953,051
54,30255,85257,56159,40061,379
63,48665,56967,73769,826
21,076
22,933
25,823
39,86840,38340,86141,42042,016
42,52143,02743,65744,28844,916
26,24926,71827,19627,67128,138
28,63029,06429,49829,93130,405
30,84931,36231,88432,39432,942
33,50634,05734,59135,10935,663
36,20336,72237,25537,78238,338
38,91639,53440,19340,84641,437
41,99942,48242,89843,23543,522
43,80144,00844,15044,28644,390
44,49944,49844,51144,561
6,474
7,363
8,764
9,0319,2889,5849,86710,147
10,49410,82811,18511,53811,921
12,39712,80313,20313,61714,076
14,52514,93815,38815,80616,248
16,67517,08917,45717,77818,127
18,45118,75519,07119,36519,680
20,10720,56121,02021,52522,061
22,69623,27823,89224,50225,134
25,71326,25626,82627,384
Note.—Includes Armed Forces overseas beginning 1940. Includes Alaska and Hawaii beginning 1950.
Source: Department of Commerce, Bureau of the Census.
265Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-29.—Population and the labor force, 1929-84
[Monthly data seasonally adjusted, except as noted]
Period
1929
1933
1939
1940.,1941...194219431944..
1945..19461947
1947..19481949..
1950..195119521953*. . .1954
195519561957...19581959
1960*.1961,.1962*
38» = :1967...19681969197019711972"1973*1974
1975197619771978*1979... .
1980...198119821983...1984...
Civiliannoninsti-tutionalpopula-tion1
Resi-dent
ArmedForces l
Laborforce
includ-ing.resi-dent
ArmedForces
Employ-ment
includingresidentArmedForces
Civilian labor force
Total
Employment
Total Agri-cultural
Nonagri-cultural
Unemploy-ment
Thousands of persons 14 years of age and over
99,84099,90098,64094,64093,220
94,090103,070106,018
49,180
51,590
55,230
55,64055,91056,41055,54054,630
53,86057,52060,168
47,630
38,760
45,750
47,52050,35053,75054,47053,960
52 82055,25057,812
10,450
10,090
9,610
9,5409,1009,2509,0808,950
8,5808,3208,256
37,180
28,670
36,140
37,98041,25044,50045,39045,010
44,24046,93049,557
1,550
12,830
9,480
8,1205,5602,6601,070
670
1,0402,2702,356
Thousands of persons 16 years of age and over
101,827103,068103,994
104,995104,621105,231107,056108,321
109,683110,954112,265113,727115,329
117,245118,771120,153122,416124,485
126,513128,058129,874132,028134,335
137,085140,216144,126147,096150,120
153,153156,150159,033161,910164,863
167,745170,130172,^71174215
1,1692,1432,38622312,142
2,0641,9651,9481,8471,788
1,8611,9002,0612,0062,018
1,9462,1222,2182,2532,238
2,1181,9731,813lf7741,721
1,6781,6681,6561,6311,597
1,6041,6451,6681,6761,697
63,37764,16064,52465,24665,785
67,08768,51768,87769,48670,157
71,48972,35972,67573,83975,109
76,40177,89279,56580,99082,972
84,88986,35588,84791,20393,670
95,45397,826
100,665103,882106,559
108,544110,315111,872[13,226115,241
60,08762,10462,63663,41062,251
64,23465,76466,01964,88366,418
67,63967,64668,76369,76871,323
73,03475,01776,59078,17380,140
80,79681,34083,96686,83888,515
87,52490/42093,67397,679
100,421
100,907102,042101,194102,510106,702
59,35060,62161,286
62,20862,01762,13863,01563,643
65,02366,55266,92967,63968,369
69,62870,45970,61471,83373,091
74,45575,77077,34778,73780,734
82,77184,38287,03489,42991,949
93,77596,15899,009
102,251104,962
106,940108,670110,204111,550113,544
57,03858,34357,651
58,91859,96160,25061,17960,109
62,17063,79964,07163,03664,630
65,77865,74666,70267,76269,305
71,08872,89574,37275,92077,902
78,67879,36782,15385,06486,794
85,84688,75292,01796,04898,824
99,303100,39799,526
100,834105,005
7,8907,6297,658
7,1606,7266,5006,2606,205
6,4506,2835,9475,5865,565
5,4585,2004,9444,6874,523
4,3613,9793,8443,8173,606
3,4633,3943,4843,4703,515
3,4083,3313,2833,3873,347
3,3643,3683,4013,3833321
49,14850,71449,993
51,75853,23553,74954,91953,904
55,72257,51458,12357,45059,065
60,31860,54661,75963,07664,782
66,72668,91570,52772,10374,296
75,21575,97278,66981,59483,279
82,43885,42188,73492,66195,477
95,93897,03096,12597,450
101,685
2,3112,2763,637
3,2882,0551,8831,8343,532
2,8522,7502,8594,6023,740
3,8524,7143,9114,0703,786
3,3662,8752,9752,8172,832
4,0935,0164,88243655,156
7,9297,4066,9916,2026,137
7,6378,273
10,67810,7178,539
Unemploy-ment rate
Allwork-ers*
Civil-ian
work-ers
labor forceparticipation
rate
Total* Civil-ian4
Percent
,.,.,
z:z
5.23.22.92.85.4
4.34.04.26.65.3
5.46.55.45.55.0
4.43.73.73.53.4
4.85.85.54.85.5
8.37.66.96.05.8
7.07.59.59,57.4
3.2
24.9
17.2
14.69.94.71.91.2
1.9393.9
3.93,85,9
5.33.33.02.95.5
4.44.14.36.85.5
5.56.75.55J5.2
4.53.83.83.63.5
4.95.95.64.95.6
8.57.77.16.15.8
7.17.69.79.67.5
•••
59.760.160.059.759.6
60.060.760.360.159.9
60.060.059.559.359.4
59.559.860.260.360.8
61.060.760.961.361.7
61.662.062.663.564.0
64.164.264.364.464.7
55.756.057.258.758.6
57.255.856.8
58.358.858.9
59.259.259.058.958.8
59.360.059.659.559.3
59.459.358.858.758.7
58.959.259.659.660.1
60.460.260.460.861.3
61261.662.363.263.7
63.863.964.064.064.4
See next page for continuation of table.
266Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-29.—Population and the labor force, 1929-84—Continued
[Monthly data seasonally adjusted, except as noted]
Period
1982:Jan....Feb....Mar...
JfcJune..July...Aug...Sept..Oct....NovDec
1983:JanFebMar...
feJune..July...Aug...SeptOct....NovDec .
1984:JanFeb,MarApr,,,May...June..
July...Aug...Sept..Oct....Nov...Dec...
Civiliannoninsti-tutionalpopula-tion1
Resi-dent
ArmedForces1
Laborforce
includ-ingresi-dent
ArmedForces
Employ-ment
includingresidentArmedForces
Civilian labor force
Total
Employment
Total culturalNonagri-cultural
Unemploy-ment
Thousands of persons 16 years of age and over
171,335171,489171,667171,844172,026172,190
172,364172,511172,690172,881173,058173,199
173,354173,505173,656173,794173,953174,125
174,306174,440174,602174,779174,951175,121
175,533175,679175,824175,969176,123176,284
176,440176,583176,763176,956177.135177,306
1,6561,6641,6711,6681,6651,664
1,6741,6891,6701,6681,6601,665
1,6671,6641,6641,6711,6691,668
1,6641,6821,6951,6951,6851,688
1,6861,6841,6861,6931,6901,690
1,6981,7121,7201,7051,6991,698
110,777111,165111,320111,519112,179111,654
111,996112,211112,373112,395112,657112,618
112,413112,364112,397112,577112,561113,385
113,371113,866113,959113,609113,835113,925
114,006114,408114,592114,895115,412115,309
115,566115,341115,484115,721115,773116,162
101,393101,449101,409101,252101,753101,099
101,145101,325101,157100,870100,758100,727
100,900100,808100,967101,261101,303102,112
102,837103,271103,678103,737104,387104,717
104,980105,572105,809106,095106,852107,081
107,075106,860107,114107,354107,631107,971
109,121109,501109,649109,851110,514109,990
110,322110,522110,703110,727110,997110,953
110,746110,700110,733110,906110,892111,717
111,707112,184112,264111,914112,150112,237
112,320112,724112,906113,202113,722113,619
113,868113,629113,764114,016114,074114,464
99,73799,78599,73899,584
100,08899,435
99,47199,63699,48799,20299,09899,062
99,23399,14499,30399,59099,634
100,444
101,173101,589101,983102,042102,702103,029
103,294103,888104,123104,402105,162105,391
105,377105,148105,394105,649105,932106,273
3,3933,3713,3923,3673,4363,327
3,4053,4083,3653,4773,4833,412
3,4413,3883,4063,3813,3523,457
3,4823,4883,3083,2843,2493,329
3,2943,3643,3053,3793,3673,368
3,3333,2643,3193,1693.3343,385
96,34496,41496,34696,21796,65296,108
96,06696,22896,12295,72595,61595,650
95,79295,75695,89796,20996,28296,987
97,69198,10198,67598,75899,45399,700
100,000100,524100,818101,023101,795102,023
102,044101,884102,075102,480102,598102,888
9,3849,7169,911
10,26710,42610,555
10,85110,88611,21611,52511,89911,891
11,51311,55611,43011,31611,25811,273
10,53410,59510,2819,8729,4489,208
9,0268,8368,7838,8008,5608,228
8,4918,4818,3708,3678,1428,191
Unemploy-ment rate
Allwork-ers 2
Civil-ian
work-ers
Labor forceparticipation
rate
Total =• Civil-ian4
Percent
8.58.78.99.29.39.5
9.79.7
10.010.310.610.6
10.210.310.210.110.09.9
9.39.39.08.78.38.1
7.97.77.77.77.47.1
7.37.47.27.27.07.1
8.68.99.09.39.49.6
9.89.8
10.110,410.710.7
10.410.410.310.210.210.1
9.49.49.28.88.48.2
8.07.87.87.87.57.2
7.57.57.47.37.17.2
64.064.264.264.364.664.2
64.464.464.464.464.564.4
64.264.164.164.264.164.5
64.464.764.664.464.464.4
64.364.564.664.764.964.8
64.964.764.764.864.764.9
63.763.963.963.964.263.9
64.064.164.164.064.164.1
63.963.863.863.863.764.2
64.164.364.364.064.164.1
64.064.264.264.364.664.5
64.564.364.464.464.464.6
1 Not seasonally adjusted.2 Unemployed as percent of labor force including resident Armed Forces.3 Labor force including resident Armed Forces as percent of noninstitutional population including resident Armed Forces.4 Civilian labor force as percent of civilian noninstitutional population.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 about 350,000 to labor force, total employment, and agricultural employment. Beginning1960, inclusion of Alaska and Hawaii added about 500,000 to population, about 300,000 to labor force, and about 240,000 tononagricultural employment. Beginning 1962, introduction of 1960 census data reduced population by about 50,000 and labor force andemployment by about 200,000. Beginning 1972, introduction of 1970 census data added about 800,000 to civilian noninstitutionalpopulation and about 333,000 to labor force and employment. A subsequent adjustment based on 1970 census in March 1973 added60,000 to labor force and to employment. Beginning 1978, changes in sampling and estimation procedures introduced into thehousehold survey added about 250,000 to labor force and to employment, unemployment levels and rates were not significantlyaffected.
Note.—Labor force data in Tables B-29 through B-35 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.
267Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-30.—Civilian employment and unemployment by sex and age, 1947-84
[Thousands of persons 16 years of age and over; monthly data seasonally adjusted]
Year ormonth
Civilian employment
Total
Males
Total 16-19years
20yearsandover
Females
Total 16-19years
20yearsandover
Unemployment
Total
Males
Total 16-19years
20yearsandover
Females
Total 16-19years
20yearsandover
194719481949
1950195119521953'..,1954
19551956195719581959
I9601...196119621...19631964
19651966196719681969
197019711972»...1973«...1974
19751976197719781...1979
19801981198219831984
1983:
Jan....
Mar....
AprMay...,June..,July....Aug....
SfcNov....Dec....
1984:JanFebMar....
57,03858,34357,651
58,91859,96160,25061,17960,109
62,17063,79964,07163,03664,630
65,77865,74666,70267,76269,305
71,08872,89574,37275,92077,902
78,67879,36782,15385,06486,794
85,84688,75292,01796,04898,824
99,303100,39799,526
100,834105,005
99,23399,14499,303
[00,444101,173101,589.01,983.02,042.02,702.03,029
,03,294
May...June..July...Aug...Sept..Oct....Nov...Dec....
104,123104,402:05,162105,39105,377.05,148,05,394105,649105,932.06,273
40,99541,72540,925
41,57841,78041,68242,43041,619
42,62143,37943,35742,42343,466
43,90443,65644,17744,65745,474
46,34046,91947,47948,11448,818
48,99049,39050,89652,34953,024
51,85753,13854,72856,47957,60757,18657,39756,27156,78759,091
55,84655,75455,87656,03356,15956,71057,10557,15657,29957,43457,88058,071
58,30158,57358,72058,74159,03359,21359,13659,20359,38859,46159,60359,702
2,2182,3442,124
2,1862,1562,1072,1361,985
2,0952,16421152,0122,198
2,3612,3152,3622,4062,587
2,9183,2533,1863,255& 3 0
3,4093,4783,7654,0394,1033,8393,9474,1744,3364,3004,0853,8153]3793,3003,322
3,3343,2823,2103.2223,2313,3063,3173,3213,3223,2803,3793,356
3,2893,3403,3683,3543,3703,3523,2903,2683,3133,2793,3343,330
38,77639,38238,803
39,39439,62639,57840,29639,634
40,52641,21641,23940,41141,267
41,54341,34241,81542,25142,886
43,42243,66844,29444,85945,388
45,58145,91247,13048,31048,92248,01849,19050,55552,14353,30853,10153,58252,89153,48755,769
52,51252,47252,66652,81152,92853,40453,78853,83553,97754,15454,50154,715
55,01255,23355,35255,38755,66355,86155,84655,93556,07556,18256,26956,372
16,04516,61716,723
17,34018,18118,56818,74918,490
19,55120,41920,71420,61321,164
21,87422,09022,52523,10523,831
24,74825,97626,89327,80729,084
29,68829,97631,25732,71533,76933,98935,61537,28939,56941,21742,11743,00043,25644,04745,915
43,38743,39043,427
43)73444,06844,43344,68444,60844,82244,958
44,99345,31545,40345,66146,12946,17846,24145,94546,00646,18846,32946,571
1,6911,6821,588
1,5171,6111,6121,5841,490
1,5471,6541,6631,5701,640
1,7681,7931,8331,8491,929
2,1182,4682,4962,5262,687
2,7352,7302,9803,2313,3453,2633,3893,5143,7343,7833,6253,4113,1703,0433,122
3,1033,0583,0463,0132,9773,0253,0163,1293,0522,9863,0253,086
3,1533,1373,0693,1373,1263,1923,2403,0673,1003,0973,0773,060
14,35414,93615,137
15,82416,57016,95817,16417,000
18,00218,76719,05219,04319,524
20,10520,29620,69321,25721,903
22,63023,51024,39725,28126,397
26,95227,24628,27629,48430,424
30,72632,22633,77535,83637,434
38,49239,59040,08641,00442,793
40,28440,33240,38140,54440,49840,70941,05241,30441,63241,62241,79741,872
41,84042,17842,33442,52443,00342,98643,00142,87842,90643,09143,25243,511
2,3112,2763,637
3,2882,0551,8831,8343,532
2,85227502,8594,6023,740
3,8524 7143,9114,0703,786
3,3662,8752,9752,8172,832
4,0935,0164,8824,3655,1567,9297,4066,9916,2026,1377,6378,273
10,67810,7178,539
11,51311,55611,43011,31611,25811,27310,53410,59510,2819,8729,4489,208
9,0268,8368,7838,8008,5608,2288,4918,4818,3708,3678,1428,191
1,6921,5592,572
2,2391,2211,1851,2022,344
1,8541,7111,8413,0982,420
2,4862,9972,4232,4722,205
1,9141,5511,5081,4191,403
2,2382,7892,6592,2752,7144,4424,0363,6673,1423,1204,2674,5776,1796,2604,744
6,6476,7836,6936,7076,6776,4766,2106,1975,9865,7395,4645,238
5,1234,9684,8894,9114,7264,5904,7254,5914,6304,5404,5024,562
270256353
318191205184310
274269300416398
426479408501487
479432448426440
599693711653757
966939874813811913962
1,0901,003812
1,0601,046
!:§10681,0241,068970938872856
850829841824817783
841755813809777803
1,4221,3052,219
1,9221,029
9801,0192,035
1,5801,4421,5412,6812,022
2,0602,5182,0161,9711,718
1,4351,1201,060
993963
1,6382,0971,9481,6241,9573,4763,0982,7942,3282,3083,3533,6155,0895,2573,932
5,5875,7375,6205,6695,6575,4085,1865,1295,0164,8014,5924,382
4,2734,1394,0484,0873,9093,8073,8843,8363,8173,7313,7253,759
619717
1,065
1,049834698632
1,188
9981,0391,0181,5041,320
1,3661,7171,4881,5981,581
1,4521,3241,4681,39711429
1,8552,2272,2222,0892,4413,4863,3693,3243,0613,0183,3703,6964,4994,4573,794
4,8664,7734,7374,6094,5814,7974,3244,3984,29541333,9843,970
3,9033,8683,8943,8893,8343,6383,7663,8903,7403,8273,6403,629
144153223
195145140123191
176209197262256
286349313383385
395405391412413
506568598583665
802780789769743
755800886825687
876823842858831936
843831782774759743
712733746728707666
636676696654613677
475564841
854689559510997
823832821
1,2421,063
1,0801,3681,1751,2161,195
1,056921
1,078985
1,015
1,3491,6581,6251,5071,7772,6842,5882,5352,2922,2762,6152,8953,6133,6323,107
3,9903,9503,8953,7513,7503,8613,4813,5673,5133,3593,2253,227
3,1913,1353,1483,1613,1272,9723,1303,2143,0443,1733,0272,952
> See footnote 5, Table B-29.Note.-See Note, Table B-29.Source: Department of Labor, Bureau of Labor Statistics.
268
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-31-—Unemployment by duration and reason, 1947-84
[Monthly data seasonally adjusted1]
Year or month
Totalunem-Ploy-
Duration of
Lessthan 5weeks
5-14 15-2627
weeksand
Aver-age
(mean)dura-
tion inweeks
Mediandura-
tion inweeks
Reason for unemployment
Joblosers
Jobleavers
Reen-trants
Newen-
trants
Thousands of persons 16years of age and over
Thousands of persons 16years of age and over
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1983:JanFeb....Mar....
fc:June...July....Aug....Sept...Oct.....Nov....Dec...
1984:JanFeb....Mar....
fc:June...July....Aug....Sept...OctNov....Dec...
2,3112,2763,637
3,2882,0551,8831,8343,532
2,8522,7502,8594,6023,740
3,8524,7143,9114,0703,786
3,3662,8752,9752,8172,832
4,0935,0164,8824,3655,156
7,9297,4066,9916,2026,137
7,6378,273
10,67810.7178,539
11,51311,55611,43011,31611,25811,273
10,53410,59510,2819,8729,4489,208
9,0268,8368,7838,8008,5608,228
8,4918,4818,3708,3678,1428,191
1,2101,3001,756
1,4501,1771,1351,1421,605
1,3351,4121,4081,7531,585
1,7191,8061,6631,7511,697
1,6281,5731,6341,5941,629
2,1392,2452,2422,2242,604
2,9402,8442,9192,8652,950
3,2953,4493,8833,5703,350
3,6543,7373,5253,5663,6013,681
3,4753,5883,7513,4653,3153,393
3,2983,3593,3783,4073,2753,229
3,4093,5133,3133,3953,3523,282
704669
1,194
1,055574516482
1,116
815805891
1,3961,114
1,1761,3761,1341,2311,117
983779893810827
1,2901,5851,4721,3141,597
2,4842,1962,1321,9231,946
2,4702,5393,3112,9372,451
3,3073,1673,1493,1293,0162]952
2,8033,0212,7832,7432,6322,499
2,5292,4822,5142,4852,4402,303
2,4492,4062,5332,4062,3242,516
234193428
425166148132495
366301321785469
503728534535491
404287271256242
428668601483574
1,3031,018913766706
1,0521,1221,7081,6521,104
1,9821,9351,8791,6761,7541,590
1,7761,5691,4151,3701,3391,276
1,1941,1721,1221,1021,1731,012
1,0881,1161,1061,092990972
164116256
3571378478317
336232239667571
454804585553482
351239177156133
235519566343381
2,5922,5202,4802,2872,1842,075
2,0071,8301,7721,7401,6601,618
1,5841,5051,4991,4351,4381,402
8.610.0
12.19.78.48.0
11.8
13.011.310.513.914.4
12.815.614.714.013.3
11.810.48.78.47.8
11.312.010.09.8
1,2031,3481,028
648535
8201,1621,7762.5591,634
2,6352,7112,7432,7022,7302,910
14.215.814.311.910.8
11.913.715.620.018.2
19.019.219.319.320.320.8
21.320.220.420.320.119.6
19.919.018.918.718.518.1
18.017.617.316.717.417.3
4.54.4
4.96.36.25.25.2
8.48.27.05.95.4
6.56.98.7
10.17.9
11.09.9
10.510.811.511.3
10.29.69.49.59.48.9
8.98.48.48.18.37.5
7.67.67.67.37.37.4
1,2291,0701,017
1,8112,3232,1081,6942,242
4,3863,6793,1662,5852,635
3,9474,2676,2686,2584,421
6,8216,8646,8586,7726,8096,581
6,1866,1435,9195,4915,2325,039
4,8294,7394,6224,5314,3734,271
4,4754,2274,1884,2614,1414,176
438431436
550590641683768
827903909874
891923840830823
826843909826814806
740794851869
810786777792812809
850833841829869858
945909965
1,2281,4721,4561,3401,463
1,8921,9281,9631,8571,806
1,9272,1022,3842,4122,184
2,5622,5222,4602,4882,4062,457
2,4422,4582,3302,3302,2582,205
2,1992,1712,2082,3012,1841,989
2,1112,2942,2542,1502,1612,218
396407413
504630677649681
823895953885817
872981
1,1851,2161,110
1,2061,1941,1711,2361,2341,412
1,2321,2051,2381,1161,1751,170
1,1851,1021,2001,1971,1701,134
1,0921,0881,0571,0601,0241,011
1 Because of independent seasonal adjustment of the various series, detail will not add to totals.Note.-See footnote 5 and Note, Table B-29.Source: Department of Labor, Bureau of Labor Statistics.
269Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-32.—Civilian labor force participation rate and civilian employment/population ratio, 1948-84
[Percent; monthly data seasonally adjusted]
Year or month
Civilian labor force participation rate l
TotalBothsexes16-19
Males20
yearsand
Fe-males
20yearsandover
WhiteBlackand
otherBlack
Civilian employment/population ratio2
TotalBothsexes16-19years
Males20
yearsandover
Fe-males
20yearsandover
WhiteBlackand
otherBlack
195019511952195319541955!!19561957195819591960196119621963196419651966196719681969
197019711972197319741975. ...1976.I...."II....197719781979
19801981198219831984
1983:JanFebMarAprMayJune
JulyAugSeptOctNovDec
58.858.9
59.259.259.058.958.859.360.059.659.559.3
59.459.358.858.758.758.959.259.659.660.1
60.460.260.460.861.361.261.662.363.263.7
63.863.964.064.064.4
63.963.863.863.863764.2
64.164.364.364.064.164.1
64.064.264.264.364.664.5
64.564.364.464.464.464.6
52.552.2
51.852.251.350.248.348.950.949.647.446.7
47.547.046.245.244.545.748.248.448.349.5
49.949.751.953.754.854.054.556.057.857.9
56.755.454.153.553.9
53.953.053.052.852.554.5
53.754.953.652.853.353.5
53.453.853.954.254.354.3
54.553.054.253.753.554.1
88.688.5
88.488.488.388.087.887.687.686.986.686.3
86.085.784.884.484.283.983.683.483.182.8
82.682.181.681.381.080.379.879.779.879.8
79.479.078.778.578.3
78.278.278.278.478.478.6
78.778.678.578.478.478.3
78.378.378.378.378.378.3
78.378.378.378.378.378.3
31.832.3
33.334.034.133.934.235.436.436.536.937.0
37.638.037.838.338.939.440.141.141.642.7
43.343.343.744.445.346.047.048.149.650.6
51.352.152.753.153.7
53.053.052.952.952.753.1
52.953.353.553.353.253.3
53.153.353.553.654.153.8
54.053.953.653.953.954.0
58.258.759.459.158.958.7
58.858.858.358.258.258.458.759.259.359.9
60.260.160.460.861.461.561.862.563.363.9
64.164.364.364.364.6
64.164.164.064.064.064.5
64.464.664.664.564.564.5
64.464.564.664.764.964.8
64.864.464.664.664.664.8
64.364.264.964.464.864.3
64.564.163.263.063.162.963.062.862.262.1
61.860.960.260.560.359.659.860.462.262.2
61.761.361.662.162.6
62.262.162.362.362.062.7
62.262.162.361.461.461.6
61.561.961.962.162.662.6
62.863.162.863.363.263.2
56.655.4
56.157.357.357.1
59.960.259.858.859.059.861.561.4
61.060.861.061.562.2
61.861.661.461.661.561.9
61.961.661.760.961.061.2
61.061.961.561.762.061.9
62.462.662.262.863.063.1
55.556.757.557.155.456.0
56.155.455.555.455.756.256.957.357.558.0
57.456.657.057.857.856.156.857.959.359.9
59.259.057.857.959.5
57.257.157.257.357.357.7
58.058.258.458.458.758.8
58.859.159.259.359.759.8
59.759.559.659.759.859.9
47.745.2
45.547.946.946.442.343.545.343.939.939.9
40.539.139.437.437.338.942.142.242.243.4
42.341.343.545.946.043.344.246.148.348.5
46.644.641.541.543.7
41.541.040.540.540.541.4
41.542.442.141.442.542.9
43.043.443.343.844.044.4
44.543.243.943.744.043.9
85.883.7
84.286.186.285.983.584.384.683.881.282.3
81.980.880.980.680.981.281.581.581.381.1
79.778.578.478.677.974.875.175.676.476.5
74.674.071.871.473.2
70.670.570.770.870.871.4
71.871.871.972.072.472.5
72.772.972.972.973.273.3
73.273.373.373.473.473.4
30.730.6
31.632.633.032.932.333.834.935.034.635.1
35.735.635.836.336.937.638.639.340.041.1
41.240.941.342.242.842.343.544.846.647.7
48.148.648.448.850.1
48.348.248.248.448.348.5
48.849.049.449.349.449.5
49.349.649.849.950.450.3
50.350.150.150.250.450.6
55.256.557.356.855.355.9
55.955.355.455.355.556.056.857.257.458.0
57.556.857.458.258.356.757.558.660.060.6
60.060.058.858.960.5
58.358.158.258.358.358.8
59.159.359.459.559.860.0
59.960.260.260.460,760.7
60.760.360.560.660.660.8
58.058.759.559.356.757.5
57.956.256.356.257.057.858.458.258.058.1
56.854.954.155.054.351.452.052.554.755.2
53.652.650.951.053.6
50.450.750.750.650.450.8
51.251.051.651.251.551.6
51.952.652.652.853.654.0
53.554.154.254.654.654.6
53.754.553.550.150.851.453.653.8
52.351.349.449.552.3
48.849.249.149.048.949.2
50.049.650.149.850.350.4
50.651.651.351.452.152.4
52.152.752.853.253.553.6
1 Civilian labor force as percent of civilian noninstitutional population in group specified.2 Civilian employment as percent of civilian noninstitutional population in group specified.
Note.—Data relate to persons 16 years of age and over. See footnote 5 and Note, Table B 29.
Source: Department of Labor, Bureau of Labor Statistics.
270Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-33.— Unemployment rate, 1948-84
[Percent; monthly data seasonally adjusted]
Year ormonth
19481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
19801981198219831984
1983:JanFebMarAprMayJune
JulyAugSeptOcStNovDec
1984:JanFebMarAprMayJune
JulyAugSeptOctNovDec
Unem-ploy-mentrate,all
work-ers1
5.23.22.92.85.4434.042665.3
5.46.5545.5504.43.73.73.53.4
4.8585.54.85.58.37.66.96.05.8
7.07.59.59.57.4
10.210.310.210.110.09.9
9.39.39.08.78.38.1
7.97.77.77.77.47.1
7.37.47.27.27.07.1
Allcivil-ian
work-ers
3.85.9
5.33.33.02.95.5444.14.3685.5
5.567555.7524.53.83.83.63.5
4.9595.64.95.68.57.77.16.15.8
7.17.69.79.67.5
10.410.410.310.210.210.1
9.49.49.28.88.48.2
8.07.87.87.87.57.2
7.57.57.47.37.17.2
Males
Total
3.65.9
5.12.82.82.85.3423.84.1685.2
5.464525.2464.03.23.12.92.8
4.4535.04.24.97.97.16.35.35.1
6.97.49.99.97.4
10.610.810.710.710.610.2
9.89.89.59.18.68.3
8.17.87.77.77.47.2
7.47.27.27.17.07.1
16-19
years
9.814.3
12.7'8.18.97.9
13.511.611.112.417115.3
15.317.114 7lf.215814.111.712.311.611.4
15.016 615!913.915.620.119.217.315.815.9
18.320.124.423.319.6
24.124.225.124.424.024.4
23.624.322.622.220.520.3
20.519.920.019.719.518.9
20.418.819.719.818.919.4
20yearsandover
32V54
4.72.52.42.54.93.83.43.66.24.7
4.75.74.6
393.22.52.32.22.1
3.54.44.03.33.86.85.95.24.34.2
5.96.38,88.96.6
9.69.9
H9.79.2
8.88.78.58.17.87.4
7.27.06.86.96.66.4
6.56.46.46.26.26.3
Total
4.16.0
5.74.43.63.36.04.94.84.76.85.9
5.97.26.26.56.25.54.85.24.84.7
5.96.96.66.06.79.38.68.27.26.8
7.47.99.49.27.6
10.19.99.89,69.59.9
8.99.08.88.58.28.1
8.07.97.97.87.77.3
7.57.87.57.77.37.2
Unemployment rate,
Females
16-19
years
X8.312.3
11.48.38.07.2
11.410.211.210.614.313.5
13.916.314.617.216.615.714.113.514.013.3
15.617.216.715.316.619.718.718.317.116.4
17.219.021.921.318.0
22.021.221.722.221.823.6
21.821.020.420.620.119.4
18.418.919.618.818.417.3
16.418.118.317.416.618.1
20yearsandover
3.65.3
5.14.03.22.95.54.44.24.16.15.2
5.16 3s
5A5.45.24.53.84.23.83.7
4.85.75.44.95.58.07.47.06.05.7
6.46.88.38.16.8
9,08.98.88.58.58.7
7.87.97.87.57.27.2
7.16.96.96.96.86.5
6.87.06.66.96.56.4
Bothsexes16-19
years
9.213.4
12.28.28.57.6
12.611.011.111.615.914.6
14.716.814.717.216.214.812.812.912.712.2
15.316.916.214.516.019.919.017.816.416.1
17.819.623.222.418.9
23.122.823.423.323,024.0
22.822.721.621.520.319.9
19.519.419.819.319.018.1
18.418.419.018.717.818.8
civilian workers
White
3.55.6
4.93.12.82.75.03.93.63.86.14.8
5.06.04.95.04.64.13.43.43.23.1
4.55.45.14.35.07.87.06.25.25.1
6.36.78.68.46.5
9.19.29.18.98.98.8
8.28.27.97.67.37.1
6.96.86.76.76.56.3
6.36.46.36.36.16.2
Blackand
other
5.98.9
9.05.35.44.59.98.78.37.9
12.610.7
10.212.410.910.89.68,17.37.46.76.4
8.29.9
10.09.09.9
13.813.113.111.911.3
13.114.217.317.814.4
19.018.318.618.718.718.9
17.717.817.216.716.116.2
15.615.015.115.114.313.7
14.814.313.813.813.713.6
2
Black
_
...i::::i:
10.49.4
10.514.814.014.012.812.3
14.315.618.919.515.9
21.020.120.020.520.520.5
19.319.618.918.217.617.7
17.016.516.616.716.015.2
16.615.815.115.315.115.0
Experi-encedwageand
salaryworkers
4.36.8
6.03.73.43.26.24.84.44.67.35.7
5.76.8565.G504.33.53.63.43.3
4.85.75.34.55.38.27.36.65.65.5
6.97.39.39.27.1
10.110.110.09.99.99.5
9,19.18.78.48.17.9
7.67.47.37,37.06.7
7.17.07.06.96.86,8
Marriedmen,
spousepresent 8
3.5
4.61.51.41.74.0262.32.8513.6
3.74.6363.4282.41.91.81.61.5
2.63.2
2.32.75.14.23.62.82.8
4.24.36.56.54.6
7.27.27.27.17.06.7
6.26.36.05.75.55.2
5.04.94.74.74.64.6
4.54.54.64.54.44.4
Womenwho
main-tainfami-lies
ZZZZZZ.
ZZZZZZ.ZZZZZZ.
4.94.44.4
5.4737.27.17.0
10.010.19.48.58.3
9.210.411.712.210.3
13.213.013.213.012.912.7
12.011.812.111.310.410.9
10.710.810.810.510.09.8
9.810.310.110.410.89.6
r._, ,._... _ „ . j resident Armed Forces.2 Unemployed as percent of civilian labor force in group specified.» 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 5 and Note, Table B-29
Source: Department of Labor, Bureau of Labor Statistics.
271Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-34.—Civilian labor force participation rate by demographic characteristic, 1954-84
[Percent;1 monthly data seasonally adjusted]
Year or month
Allcivil-ian
work-ers
White
Total
Males
Total 16-19years
20yearsand
Females
Total 16-19years
20yearsandover
Black
Total
Males
Total 16-19years
20yearsandover
Females
Total 16-19years and
1954....
1955....1956....1957....1958....1959....
I960....1961....1962....1963....1964....
1965....1966....1967....1968....1969....
1970....1971....1972....1973....1974....
1975....1976....1977....1978....1979....
1980....1981....1982....1983....1984....
1983:Jan...Feb...Mar..
tJune.July..Aug..Sept.Oct...,Nov..,Dec...
1984:Jan...,Feb....Mar...
fcJune..July...Aug...Sept..Oct....Nov...Dec...
58.8
59.360.059.659.559.3
59.459.358.858.758.7
58.959.259.659.660.1
60.460.260.460.861.3
61.261.662.363.263.7
63.863.964.064.064.4
63.963.863.863.863.764.2
64.164.364.364.064.164.1
64.064.264.264.364.664.5
64.564.364.464.464.464.6
58.2
58.759.459.158.958.7
58.858.858.358.258.2
58.458.759.259.359.9
60.260.160.460.861.4
61.561.862.563.363.9
64.164.364.364.364.6
64.164.164.064.064.064.5
64.464.664.664.564.564.5
64.464.564.664.764.964.8
64.864.464.664.664.664.8
85.6
85.485.684.884.383.8
83.483.082.181.581.1
80.880.680.780.480.2
80.079.679.679.479.4
78.778.478.578.678.6
78.277.977.477.177.1
76.876.976.876.977.077.3
77.377.477.377.277.377.2
77.077.177.177.177.177.2
77.076.877.177.077.177.2
57.6
58.660.459.256.555.9
55.954.553.853.152.7
54.155.956.355.956.8
57.557.960.162.062.9
61.962.364.065.064.8
63.762.460.059.459.0
59.359.258.858.558.559.9
59.760.459.959.159.659.6
58.559.059.859.159.859.3
59.156.759.358.859.259.6
87.8
87.587.686.986.686.3
86.085.784.984.484.2
83.983.683.583.283.0
82.882.382.081.681.4
80.780.380.280.180.1
79.879.579,278.978.7
78.578.678.678.778.879.0
79.079.078.978.979.078.9
78.878.878.778.878.778.8
78.678.678.778.678.778.8
33.3
34.535.735.735.836.0
36.536.936.737.237.5
38.139.240.140.741.8
42.642.643.244.145.2
45.946.948.049.450.5
51.251.952.452.753.3
52.652.452.352.352.152.7
52.653.053.052.952.953.0
52.853.153.153.353.753.5
53.653.253.153.353.253.5
40.6
40.743.142.240.139.6
40.340.639.838.737.8
39.242.642.543.044.6
45.645.448.150.151.7
51.552.854.556.757.4
56.255.455.054.555.4
55.153.954.753.853.055.4
54.656.054.553.954.254.8
55.655.956.056.255.756.0
55.954.355.454.954.055.0
32.7
34.035.135.235.535.6
36.236.636.537.037.5
38.038.839.840.441.5
42.242.342.743.544.4
45.346.247.348.749.8
50.651.552.252.553.1
52.452.252.152.252.152.5
52.452.752.952.852.852.8
52.652.852.953.153.553.3
53.453.152.953.253.253.4
59.960.259.8
58.859.059.861.561.4
61.060.861.061.562.2
61.861.661.461.661.561.9
61.961.661.760.961.061.2
61.061.961.561.762.061.9
62.462.662.262.863.063.1
73.673.472.9
70.970.070.671.571.3
70.370.070,170.670.8
70.870.169.970.670.471.5
71.671.170.769.770.470.1
70.371,170.670.270.770.4
71.071.070.871.270.971.2
46.345.746.7
42.641.343.244.943.6
43.241.639.839.941,7
40.138.338.939.040.043.4
41.541.339.038.239.638.5
38.439.740.742.441.741.1
41.541.442.843.443.143.5
78.578.477.6
76.075.475.676.276,3
75.174.574.775.274.8
75.474.974.675.474.975.7
76.075.475.374.374.974.7
74.875.574.874.174.774.5
75.175.074.675.074.774.9
48.749.349.0
48.849.850.853.153.1
53.153.553.754.255.2
54.654.854.554.454.454.2
54.254.054.553.753.554.0
53.554.454.254.955.054.9
55.555.955.356.056.656.5
32.234.233.4
34.232.932.937.336.8
34.934.033.533.035.0
32.631.831.334.332.935.8
32.033.433.132.532.333.5
32.734.331.735.031.335.9
37.436.336.237.836.035.5
51.251.651.4
51.152.553.655.555.4
55.656.056.256.857.6
57.357.757.456.957.056.5
56.856.557.156.356.056.4
56.056.856.957.257.757.1
57.658.157.558.059.058.9
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 5 and Note, Table B-29.Source: Department of Labor, 8ureau of Labor Statistics.
272Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-35.—Civilian unemployment rate by demographic characteristic, 1948-84
[Percent;1 monthly data seasonally adjusted]
Year or month
19481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984 . .
1983:JanFebMarApr
w.JuneJulvAugSeptOctNovDec
1984:JanFebMarAprMayJune
July
Sept"!"!!!!!!!"!"OctNovDec
AHcivil-ian
work-ers
3.85.9
5.33.33.02.95.5
4.44.14.36.85.5
5.56.7555.75.2
453.8383.635
495.95.64.95.6
857.77.16.15.8
7.17.69.79.67.5
10.410410.310.210.210.1
9.49.49.28.88.48.2
8.07.87.87.87.57.2
7.57.57.47.37.17.2
White
Total
3.55.6
4.93.1?R2.750
3.9363.8614.8
5.0604.9504.6
4.134343?31
4554514.35.0
78706?5?5.1
6.3678.6R46.5
9.19.291898.98.8
8.28.2797.67.37.1
6.96.867676.56.3
6.46,36.36.16.2
Males
Total
3.45.6
4.72.62.5254.8
3.73.4366.14.6
485.7464.74.1
362.8272.625
404.94.53.84.4
726.45.54.64.5
616.58.88.86.4
9.3979.69.59.48.9
8.68.68.38.07.67.2
7.0686.76.66.46.2
6.36.26.26.16.16.1
16-19years
13.4
11.310.511515.714.0
14.015.713 715.914.7
12.910.510.710.1100
13 715.114.212.313.5
18317.315.013.513.9
16.217.921.720.216.8
21.421.622.621.520.420.6
20.021.018.719.517.717.4
17.716.817.316.816.916.6
17.416.717.016.616.216.2
20yearsandover
4.4
3.33.03.25.54.1
4.25.14.0
2.92.22.12.019
324.03.63.03.5
6.25.44.73.73.6
5.35.67.87.95.7
8.4A88.68.68.68.1
7.77.77.67.26.86.5
6.36.15.95.95.75.45.55.5555.45.45.4
Females
Total
385.7
5.3423.33.15.54.3~4.2436.25.3
5.36.55.55.85.5
504.3464.342
546.35.95.36.1
867.97.36.25.9
6.56.98.37.96.5
8.88.68.58.28.28.5
7.77.67.47.16.96.8
6.76.76.86.76.66.46.46.66.56.66.26.3
16-19years
10.4
9.19.79.5
12.712.0
12.714.812.815.114.9
14.012.111.512.111.5
13.415.114.213.014.5
17 416.415.914.414.0
14.816.619.018.315.2
19.318.219.319.019.420.3
18.718.117.216.916.716.1
14.916.116.415.715.515.1
12.915.415.515.213.915.5
20yearsandover
5.1
3.93.73.85.64.7
4.65.74.74.84.6
4.03.33.83.43.4
4.45.34.94.35.17.56.86.25.25.0
5.65.97.36.95.8
j 17.57.27.27.5
6.76.76.66.36.16.0
6.05.95.96.05.85.6
5.85.9575.85.55.5
Total
1049.4
10.5
14.8140140
12.3
14.3156189195159
20 1?0 0
20.520.519 319618918.217617.7
17016516.616716.015.2
16615.815.115.315.115.0
Black
Males
Total
938.09.8
14.813.713.311.811.4
14.515.720.1?0316.4
22.321.320.821.722.121.4
20.520.719618.217.817.2
17.216.817?17.616.316.3
17.415.915.515.614.915.5
16-19years
31.727.833.1
38.137,539.236.734.2
37.540.748.948.842.7
47.746.746.048.852.552.9
48.253.853.744.144.745.0
46.646.044.342.941.438.2
42.340.541.043.842.043.8
20yearsandover
7.06.07.4
12.511.410.79.39.3
12.413.517.818.114.3
20.219.418.919.619.718.7
18.218.117.016.315.715.1
15.114.615.115.614.314.6
15.514.113513.412.813.3
Females
Total
11811.111.3
14.814314913R13.3
14.01561761R6154
19 618919?19 318.919.6
1R118318118.117418.2
16816?16015715.714.1
15 815.714.615.015.314.5
16-19years
40.536.137.4
41.041.643.440.839.1
39.842.247.148.242.6
45.247.043.548.944.150.7
48.648.048.153.149.650.8
48.241.449.445.948.135.8
42.2.42.243.036.240.240.1
20yearsandover
908.68.8
1??11 7
11 ?10.9
119134154165135
17717(117617117.117.2
16016?16015.615?159
14 614 41,3 813613.7
13813.8
13.413.512.7
1 Unemployment as percent of civilian labor force in group specified.Note.—See footnote 5 and Note, Table B-29.Source: Department of Labor, Bureau of Labor Statistics.
273Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-36.—Unemployment insurance programs, selected data, 1955-84
Year or month
All programs
Coveredemploy-ment1
Insuredunemploy-
ment(weekly
aver-age) * 3
Totalbenefits
paid(millions
ofdollars)2 <
State programs
Insuredunem-
ploymentInitialclaims
Exhaus-tions8
Insuredunemploy-ment aspercent
ofcoveredemploy-
ment
Benefits paid
Total(millions
ofdollars)*
check(dollars) •
Thousands Weekly average; thousands
1955..1956..1957..1958..1959..
I960..1961..1962..1963..1964..1965..1966..1967..1968..1969..
1970..1971..1972..1973..1974..1975..1976..1977..1978..1979..
1980..1981..1982..1983..
40,01842,75143,43644,41145,728
46,33446,26647,77648,43449,63751,58054,73956,34257,97759,999
59,52659,37566,458
72,45171,03773,45976,41988,80492,062
92,65993,30091,628
B 91,898
1983:JanFeb..!Mar..
May!-June..
{uyAugSeptOctNovDec
1984:JanFebMarAprMayJune
Oct....Nov....Dec...
1,3991,32315712,7731,8602,0712,9941,946
'1,9731,7531,4501,1291,2701,1871,177
2,0702,6082,1921,7932,5584,9373,8463,3082,6452,592
3,8373,4104,5943,775
5,4595,4375,1344,6423,9473,481
3,2752,9172,5802,4782,6202,915
3,3743,1742,9582,6132,2902,166
2,3272,1842,0832,1492,441
1,560.21,540.61,913.04,290.62,854.3
3,022.84,358.13,145.13,025.92,749.22,360.41,890.92,221.52,191.02,298.6
4,209,36,154.05,491.14,517.36,933.916,802.412,344.810,998.99,006.99,401.316,175.415,287.123,774.820,206.2
2,463.32,350.22,780.22,184.01,910.31,798.5
1,411.31,455.71,167.51.058.11,153.41,255.2
1,515.51,455.51,426.71,220.31,149.8980.4
1,005.11,045.3877.9969.9
1,2651,2151,4462,5101,6841,9082,2901,7831,8061,6051,3281,0611,2051,1111,1011,8052,1501,8481,6322,2623,9862,9912,6552,3592,434
226227270369277331350302
'298268232203226201200296295261247363478386375346388
3,3503,0474,0613,396
3,9793,9523,8853,8263,6153,389
3,1903,0252,9832,79727342,636
2,6152,5282,4982,4492,3692,335
2,3612,3262,3702,4422,5162,504
488460583438
513498491488460424
408410386389388389
349354361350354
373365374405402393
100991021039187
3.53.23.66.44.4
4.85.64.44.33.83.02.32.52.22.1
3.44.13.52.73.56.04.63.93.32.9
3.93.54.63.9
4.64.54.54.44.23.9
3.73.53.53.33.23.1
3.13.02.92.82.82.7
2.72.72.72.82.92.9
1,350.31,380.71,733.93,512.72,279.0
2,726.73,422.72,675.42,774.72,522.12,166.01,771.32,092.32,031.62,127.9
3,848.54,957.04,471.04,007.65,974.9
11,754.78,974.58,357.27,717.28,612.9
13,761.113,262.120,650.017,762.8
2,205.62,052.92,370.71,817.61,589.71,537.9
1,297.21,367,21,104.41,002.01,099.81,203.6
1,458.01,400,51,369.51,173.61,109.3
948.4
974.11,017.8
853.4939.7
1,011.1
25.0427.0228.1730.5830.41
32.8733.8034.5635.2735.9237.1939.7541.2543.4346.17
50.3454.0256.7659.0064.2570.2375.1678.7983.6789.67
98.95106.70119.37123.59
124.29124.51125.56124,95124.57123.51
121.53121.17121.36122.99122.18122.61
123.60124.30124.67125.26123.69121.96
119.83120.24122.48123.85124.26
"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.8 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 afl programs combined' Workers covered by State programs account for about 97 percent of wage and
salary earners.Source: Department of Labor, Employment and Training Administration.
274
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-37.—Wage and salary workers in nonagricultural establishments, 1929-84
[Thousands of persons; monthly data seasonally adjusted]
Year ormonth
Totalwageand
salaryworkers
Manufacturing
Total Durablegoods
Non-durablegoods
Mining Construc-tion
Transpor-tationand
publicutilities
Whole-sale Retail
trade
Finance,insur-ance,
and realestate
Services
Government
FederalStateandlocal
192919331939194019411942194319441945194619471948194919501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984".1983: Jan....
Feb...,Mar
«&"...June....JulyAugSept....OctNov....Dec...
1984: JanFebMar
llfaylay....June....JulyAugSept....OctNov..,Dec".,
31,32423,69930,60332,36136,53940,10642,43441,86440,37441,65243,85744,86643,75445,19747,81948,79350,20248,99050,64152,36952,85351,32453,26854,18953,99955,54956,65358,28360,76563,90165,80367,89770,38470,88071,21473,67576,79078,26576,94579,38282,47186,69789,82390,40691,15689,56690,13894,15588,82788,72888,94589,25989,57889,92790,27489,91891,01891,34591,68892,02692,39192,84693,05893,44993,78694,13594,35094,52394,80795,15795,49495,661
10,7027,39710,27810,98513,19215,28017,60217,32815,52414,70315,54515,58214,441
15,24116,39316,63217,54916,31416,88217,24317,17415,94516,67516,79616,32616,85316,99517,27418,06219,21419,44719,78120,16719,36718,62319,15120,15420,07718,32318,99719,68220,50521,04020,28520,17018,78118,49719,59118,07318,05618,08518,18918,29818,39118,52118,59718,69818,88619,01819,14319,25419,37319,46619,53019,57019,62919,69619,72519,61619,68619,71819,810
4,7155,3636,9688,823
11,08410,8569,0747,7428,3858,3267,4898,0949,0899,349
10,1109,1299,5419,8339,8558,8299,3739,4599,0709,4809,6169,816
10,40511,28211,43911,62611,89511,20810,63611,04911,89111,92510,68811,07711,59712,27412,76012,18712,10911,03910,77411,63610,45410,45010,46510,53610,62310,68610,78110,84610,92311,07111,17011,26611,34311,44011,51311,55111,59811,65211,70211,75811,69611,75211,77611,843
5,5645,6226,2256,4586,5186,4726,4506,9627,1597,2566,9537,1477,3047,2847,4387,1857,3417,4117,3217,1167,3037,3377,2567,3737,3807,4587,6567,9308,0078,1558,2728,1587,9878,1028,2628,1527,6357,9208,0868,2318,2808,0988,06177417,7247,9547,6197,6067,6207,6537,6757,7057,7407,7517,7757,8157,8487,8777,9117,9337,9537,9797,9727,9777,9947,9677,9207,9347,9427,967
1,087744854925957992925892836862955994930901929898866791792822828751732712672650635634632627613606619623609628642697752779813851958
1,0271,1391,128
957999993967955943940939946950952965967969975978978984995
1,0021,0071,0171,0201,0121,0091,003
1,512824
1,1651,3111,8142,1981,5871,1081,1471,6832,0092,1982,1942,3642,6372,6682,6592,6462,839
. 3,0392,9622,8173,0042,9262,8592,9483,0103,0973,2323,3173,2483,3503,5753,5883,7043,8894,0974,0203,5253,5763,8514,2294,4634,3464,1883,9053,9404,3163,8933,8043,7923,8173,8493,9113,9473,9854,0194,0444,0734,0864,1544,2264,1514,2464,2864,3434,3564,3564,3744,3824,3964,452
3,9162,6722,9363,0383,2743,4603,6473,8293,9064,0614,1664,1894,0014,0344,2264,2484,2904,0844,1414,2444,2413,9764,0114,0043,9033,9063,9033,9514,0364,1584,2684,3184,4424,5154,4764,5414,6564,7254,5424,5824,7134,9235,1365,1465,1655,0824,9585,1704,9844,9694,9754,9935,0015,0055,0014,3695,0465,0535,0435,0555,0955,1055,1125,1295,1445,1635,1755,2025,2135,2255,2265,238
1,7621,8351,9601,9061,8221,8451,9492,2912,4712,6052,6022,6352,7272,8122,8542,8672,9263,0183,0282,9803,0823,1433,1333,1983,2483,3373,4663,5973,6893,7793,9073,9934,0014,1134,2774,4334,4154,5464,7084,9695,2045,2755,3585,2785,2595!5265,1935,1905,1905,2045,2205,2415,2565,2775,30153225[3445,3715,4065,4385,4575,4735,4925,5025,5285,5445,5885,6125,6235,645
4,6644,9145,2515,2125,1605,2145,3656,0846,4856,6676,6626,7517,0157,1927,3937,3687,6107,8407,8587,7708,0458,2488,2048,3688,5308,8239,2509,6489,917
10,32010,79811,04711,35111,83612,32912,55412,64513,20913,80814,57314,98915,03515,18915,17915,54516,26215,26415,28415,34815,38615,43315,51415,58015,62615,67115,73715,80515,85715,91415,98016,03016,09516,16616,24516,28316,29516,34216,46816,64416,635
1,4941,280M471,4851,5251,5091,4811,4611,4811,6751,7281,8001,8281,8881,9562,0352,1U2,20022982,3892,4382,4812,5492,6292,6882,7542,8302,9112,9773,0583,1853,3373,5123,6453,7723,9084,0464,1484,1654,2714,4674,7244,9755,1605,2985,3415,4675,6655,3635;3895,4085,4455,4605!4645,4785,4985,5035,5125,5305,5465,5735,5935,613516405,6625,6765,6765,6795,6845,7055,7255,748
3,4252,8613,5023,6653,9054,0664,1304,1454,2224,6975,0255,1815,2405,3575,5475,6995,8355,9696,2406,4976,7086,7657,0877,3787,6207,9828,2778,6609,0369,498
10,04510,56711,16911,54811,79712,27612,85713,44113,89214,55115,30316,25217,11217,89018,61919.03619,66520,66119,21419,23019,35619,45619,52919,62619,72319,80819,89319,96220,03420,13020,16220,27820,37820,44920,54920,68120,70120,74820,86120,96421,03021,085
533565905996
1,34.02,2132,9052,9282,8082,2541,8921,8631,9081,9282,3022,4202,3052,1882,1872,2092,2172,1912,2332,2702,2792,3402,3582,3482,3782,5642,7192,7372,7582,7312,6962,6842,6632,7242,7482,7332,7272,7532,7732,8662,7722,7392,7522,7822,7472,7442,7432,7412,7532,7442,7442,7472,7742,7602,7592,7622,7602,7632,7702,7712,7852,7772,7792,7852,8042,7932,8012,794
2,5322,6013,0903,2063,3203,2703,1753,1163,1373,3413,5823,7873,9484,0984,0874,1884,3404,5634,7275,06953995,6485,8506,0836,3156,5506,8687,2487,6968,2208,6729,1029,4379,823
10,18510,64911,06811,44611,93712,13812,39912,91913,17413,37513,25913,09813,09913,18513,10313,09513,09313,08513,09513,09213,07813,06113,16113,10413,11513,10713,09813,11213,10313,13213,13713,11713,14913,17213,30513,31013,32213,251
Note.—Data in Tables B-37 through B-39 are based on reports from employing establishments and relate to full- and part-time wageand salary workers in nonagricultural establishments who worked during or received pay for any part of the pay period which includesthe 12th of the month. Not comparable with labor force data (Tables B-29 through B-35), which include proprietors, self-employedpersons, domestic servants, and unpaid family workers; which count persons as employed when they are not at work because ofindustrial disputes, bad weather, etc., even if they are not paid for the time off; and which are based on a sample of the working-agepopulation. For description and details of the various establishment data, see "Employment and Earnings."
Source: Department of Labor, Bureau of Labor Statistics.
275Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-38.—Average weekly hours and hourly earnings in selected private nonagriculturalindustries,
1947-84
[For production or nonsupervisory workers; monthly data seasonally adjusted, except as noted]
Year ormonth
1947194819491950195119521953195419551956. ..1957195819591960196119621963196419651966196719681969.197019711972197319741975197619771978197919801981198219831984".1983:
JanFebMartJune
JulyAugSeptOctNovDec
1984:Jan
Feb ZZZMar
»&::::::::::JuneJulyAug.. .SeptOctNov".Dec"
Average weekly hours
Totalprivate
non-agricul-tural »
40340039.439 839 939 939.639.139.639.338 838.539.038.638.638738.838.738838.638,037.837.737.136 937.036.936.536.136.136.035.835.735.335.234.835035.3
35 034.534 834.934935.035.035.035.235.235.235.2
35.435.335.335.435.335.335.235 235.435.135.235.3
Manufac-turing
40.440039.140 540.640 740.539.640740.439 839'240.339.739 840.440540741241.440 640.740.639.839 940.540740.039.540.140.340.440.239739.838.9401407
39 539.139 740.139 940.140.240.340.740.640.640.6
40.940.940741.140.640.640.540 540.640.440.540.7
Con:
struction
38238137737 438.138 937.937.237.137 537 036.837.036.736 937.037 337.237 437.637 737.337.937.337 236.536.836.636.436.836.536.837.037.036.936.737 237.8
38 336436 736.937137^2
37.137.337.436.837.036.9
37.738.237.037737737.937.537 738.037.638.137.7
Retail
trade
40 340240.440 440.439 839.139.239.038 638138.138.238.037 637 437 337.036 635.935334734.233.833 733*433.132732.432.131.631.030,630.230.129.9298304
30 02^329 729729.8
29.829.829.830.030430.3
30.130.030.130.030.130.229.929.9
29!829.9304
Average gross hourly earnings,current dollars
Totalprivate
non-agricul-tural »
$11311*2251*27513351.451521.611.651711801891*952.022.092142 222 282.362 462.562 682 853443.233 451703.944.244.534.865.255.696.166.667.257.688 028*33
7 877*927 927*967 988418448.008.098.138.148.17
8.218.238.258.318.298.338.358 348 408.388.428.47
Manufac-turing
$12161*3271.37614391.561641.741.781.851.952 042*102.192.262 322*392452*532 612712.82
3 193.353 571824.094.424.835.225.686.176707,277.998.498 839*17
8 668738 738758 788.808.838.848.888.938.978.99
9439469.099.119.129.159.179.20
9l259.309.33
Con:
struction
$15401*712179218632.022132.282.382.452.572 712.822.933473 203.313 413 553 703*894114414.795.245696466.416.817.317.718.108.669.279.94
10.8211.6311921243
1184li:9811 94ll'9711891L9011.8711.8911.9511.9411.9311.96
11.9711.9511.97124312.07124712.0412 05124512.0212.0312.12
Retail
trade
$0838901'951983
1.061091.161.201.251301371.421.471.521561631681751821*912 012*162.302.442 602752.913.143.363.573.854.204.534.885.255.485 74549
5 615*665 675*695715745.755775795.805.825.83
5.845.845.875.895.875.895.895 885^0
Sfi5.94
Adjusted hourly earnings,private nonagricultural
Index,1977-100
Currentdollars
21623.424.525 427.328 730.331.332.434 035737*238.539.841042 443 644*846 448*450 853*957.561.365769474.180486.792.9
100.0108.2116.8127.3138.9148.51553160 5
152 91534153 6154:2154 7155*1155.6155.4156.2157.1157.2157.8
158.4158.5159.1159.9159.6160.3160.8160 61614161.3162.0163.0
1977dollars»
58 558962.364.063.665 568.770.573.375 976978480481.483085 086 387.589 090.392 294495.095798 3
101*2101.198.397.699.0
1004100.597.493.592.693.494 8947
94 895*395 194*894 894*994.994.494.594.794.694.9
94.894.895.195.494.995.295.294.1
91994.394.7
Percentfrom a
earli
Currentdollars
8.34.7377.5515.63.33.549504.23.53.43034282.8364.3506.16.76.6726.26.28.08.47.27.68.27.9949.16.94.6
5457545*34.9
4.43.7444.13.937
3.63.23.537123.33.33 33*4273.13.4
total2
changeyear
IT4
1977dollars
0.75.827
3C4.92.6443.5131.42.61.82.024151.4171.5212.01.17
273.0
=1:8= 71.41.0.5
•=3.1-4 .0- 1 . 0
.91 5
- ! i
182*416121.4
2.21.21.21.41.0.4
= 0-*6
.0
.6
.1
.3
.2= .3
~:9
-*21 Also includes other private industry groups shown in Table B-37.2 Adjusted for overtime (in manufacturing only) and for interindustry employment shifts.3 Current-dollar earnings index divided by the consumer price index for urban wage earners and clerical workers on a 1977=100
base.4 Monthly percent changes are computed from indexes to two decimal places and are based on data not seasonally adjusted.Note.—See Note, Table B-37.Source: Department of Labor, Bureau of Labor Statistics.
276Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-39.—Average weekly earnings in selected private nonagricultural industries, 1947-84
[For production or nonsupervisory workers; monthly data seasonally adjusted, except as noted]
Year or month
194719481949
195019511952195319541955195619571958
I9601961 , . .196219631964
19651966196719681969
19701971197219731974
1975197619771978197919801981198219831984 P
1983:JanFebMarAprMayJune . : : : : : : :JulyAucsept:":::::::::::::::::;::::::::::::::::""OctNovDec
1984:JanFebMarAprflayJune ,JulyAugSeptOct .Nov"Dec
Average gross weekly earnings
Total privatenonagriculturat *
Currentdollars
$45.58490050.24
531357.8660 6563.7664.5267.7270.7473.3375 0878.78
80.6782 6085.91884691.3395 4598.82
10184107.73114.61
119 83127.3113690145.39154.76163.53175.45189.00203 70219.9123510255.20267.26280 70294.05
275.45273.24275.62277.80278.50280.35281.40280.00284.7728618286 53287.58
290 63290 522912329417292.64294.05293.92293.57297 3629414296 38298.99
1977dollars2
$123.5212343127.84
13383134 87138 47144.58145.32
153 21157.90158.04157 40163.78164.97167 21172.1617517178.38183 21184.37184 83187.68189.44
186 94190.58198 41198.35190.1218416186.85189.00189 31183.41172 74170.131680917126173.48
170.87169.50170.56170.85170.65171.57
171.69170.01172.27172 61172 40172.93
173 93173 65174 08175 52173.98174.61173.9217198173 3917121172 41173.63
Manufac-turing
(currentdollars)
$49.1353.0853.8058,2863.3466.7570.4770.49
75.3078.7881.19823288.26
89.7292.3496.5699.23
102.97107.53112.19114.49122.51129.51133.33142.44154.71166.46176.80190.79209.32228.90249 27269.34288.62318.00330.26354 08373.22
342.07341.34346.58350.88350.32352.88354.97356.25361.42362.5636418364.99
369.33370.55369 96374 42370.27371.49371.39372 60374 33373 70376 65379.73
Construc-tion
(currentdollars)
$58.8365 2367.56
69 68769682 8686.4188.54
909096.38
1002710378108.41
112.67118 08122.4712719132.06138 38146 26154 95164.49181.54
195 45211.6722119235.89249.25
26608283.7329565318 69342.99367 78399.26426 82443 42454.73
453.47438.47438.20441.69441.12442.68
440.38443.50446.93439 3944141441.32
45127456 49442 89453 53455.04457.45451.50454 29457 9045195458 34456.92
Retailtrade
(currentdollars)
$33.7736.2238.42
39 7142.82433845.3647.04
48.7550.1852.2054.1056.15
57.7658.6660.9662.6664.75
66 6168.57709574.9578.6682.4787.6291.8596.32
102.68
108.86114.60121.66130.20138.62147.38158.03163.8517105176.70
168.30165.84168.40168.99170.16171.63171.35171.95172.54174.00174 60176.65
175.78175.20176.69176 70176.69177.88176.11175.81177.00175 52177 61178.20
Percent change froma year earlier, total
privatenonagricultural3
Currentdollars
7.52.5588.9485.11.25.04.53.7244.92.4244.0303.24535315.86.4
466.27.56.26.45.77.37.77.88.06.98.54.7504.8
6.93.14.05.14.84.94.63.56.06.4565.7
5.56.35.4624.74.84.85.04.426333.7
1977dollars
- 0 13.647
8274.4
.55.43.1
.14
4.1.7
143.0171.827
62
15.9
- 1 31.941
- . 0- 4 . 1
- 3 . 11.51.2.2
3.1-5 .8-1 .5- 1 . 2
191.3
3.3- . 2
.31.01.32.42.41.13.23.72.62.4
1.82.51.8301.51.71.61.3.6
- .9- 1
.1
1 Also includes other private industry groups shown in Table B-37.2 Earnings in current dollars divided by the consumer price index on a 1977=100 base.3 Based on data not seasonally adjusted.Note.-See Note, Table B-37.Source: Department of Labor, Bureau of Labor Statistics.
277
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-40.—Productivity and related data, business sector, 1947-84
[1977-100; quarterly data seasonally adjusted]
Year orquarter
Output per hourof all persons
Busi-ness
sector
Nonfarmbusinesssector
Output^
Busi-ness
sector
Nonfarmbusiness
sector
Hours of allpersons2
Busi-ness
sector
Nonfarmbusiness
sector
Compensation perhour3
Bust-ness
sector
Nonfarmbusinesssector
Real compensationper hour4
Busi-ness
sector
Nonfarmbusiness
sector
Unit labor costs
Busi-ness
sector
Nonfarmbusiness
sector
Implicit pricedeflator*
nesssector
Nonfarmbusiness
sector
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
1965..1966..1967...1968..1969..
19701971...197219731974
19751976...197719781979
19801981198219831984"
1982:IIIIllIV
1983:IIIIllIV
1984:IIIIllIV P.
43.746.146.7
50.451.853.555.256.1
58.358.960.462.364.3
65.267.469.972.575.6
78.380.882.685.385.5
86.289.392.494.892.5
94.697.6
100.0100.599.3
98.8100.7100.9103.7107.4
100.9100.3100.9101.6
102.2103.6104.3104.7
105.7107.0107.2107.9
49.952.053.1
56.357.358.659.660.4
62.862.964.065.567.7
68.370.372.875.278.1
80.582.584.186.886.6
86.889.793.095.392.9
94.897.8
100.0100.699.0
98.399.8
100.0103.4106.6
99.899.4
100.3100.5
101.6103.6104.1104.4
105.2106.6106.3106.7
35.037.236.5
39.842.143.545.444.6
48.149.349.849.052.6
53.554.457.459.963.5
67.871.573.176.879.0
78.480.786.191.789.9
88.293.8
100.0105.5107.8
106.5109.2106.3111.0120.8
107.1106.4106.1105.8
106.9110.1112.5114.7
117.8121.0121.5122.8
34.036.035.3
38.641.142.544.343.4
47.048.348.948.051.8
52.553.556.659.162.8
67.271.272.776.678.8
78.080.385.891.789.8
87.893.7
100.0105.7108.0
106.5108.7105.9111.2120.7
106.4106.0106.0105.2
106.7110.4112.7115.2
118.0121.0121.3122.4
80.180.778.0
78.981.281.382.279.4
82.483,782.578.781.8
82.080.782.182.683.9
86.688.688.590.092.4
90.990.493.296.897.2
93.296.0
100.0104.9108.6
107.8108.4105.4107.1112.5
106.1106.1105.1104.1
104.7106.2107.9109.5
111.4113.0113.4113.8
68.169.266.6
68.671.872.674.471.9
74.976.776.373.276.4
76.976.177.878.680.5
83.586.386.588.291.0
89.889.492.296.296.6
92.695.8
100.0105.1109.0
108.3109.0106.0107.5113.2
106.7106.7105.7104.7
106.5108.2110.3
112.3113.6114.1114.7
17.018.418.7
20.022.023.424.925.7
26.428.129.931.232.6
33.935.236.838.240.2
41.744.647.050.754.2
58.262.066.171.478.1
85.692.9
100.0108.5118.7
131.1143.4155.0161.7169.3
151.4153.9156.7158.4
160.2161.0161.8164.2
166.7167.5169.3171.0
18.520.120.7
21.923.825.126.527.3
28.330.031.732.934.2
35.736.838.339.641.4
42.845.447.951.554.9
58.762.566.771.878.5
86.193.0
100.0108.6118.4
130.6143.1154.5162.0169.5
151.0153.2156.0157.9
160.1161.5162.4164.0
166.5168.0169.5170.9
46.146.447.6
50.551.453.456.558.0
59.762.664.565.567.8
69.571.473.875.678.4
80.183.385.388.389.7
90.892.895.797.395.9
96.498.9
100.0100.899.1
96.495.597.398.4
96.997.297.398.0
99.098.598.098.4
98.698.298.498.5
50.150.552.5
55.155.457.260.061.6
64.066.868.368.971.1
73.174.676.778.480.9
82.384.886.989.790.7
91.593.696.697.996.5
96.999.0
100.0100.898.8
96.095.397.098.698.9
96.796.896.997.7
99.098.898.398.2
98.598.598.598.4
38.940.040.1
39.842.543.845.145.9
45.247.749.550.250.7
52.152.352,752.753.1
53.355.357.059.463.4
67.569.571.575.384.4
90.595.1
100.0108.0119.5
132.6142.4153.6156.0157.7
150.0153.4155.3155.9
156.8155.4155.1156.8
157.7156.5158.0158.5
37.038.638.9
38.841.542.844.545.2
45.147.649.550.250.5
52.352.452.652.753.1
53.255.057.059.363.4
67.669.771.775.384.5
90.895.1
100.0108.0119.5
132.8143.5154.5156.6158.9
151.4154.2155.6157.1
155.9155.9157.1
158.3157.6159.5160.2
38.140.840.3
41.044.044.544.945.3
46.047.649.249.850.8
51.651.952.653.253.7
54.756.457.960.363.2
66.069.071.375.382.4
90.494.7
100.0107.5117,2
128.1140.4147.9152.4157.3
145.9147.9148.7149.3
151.0151.7152.7154.2
155.6156.7158.1158.8
36.639.139.4
40.142.843.544.445.0
46.047.649.349.750.9
51.651.952.753.353.9
54.856.358.160.463.3
66.369.371.374,081.6
90.094.6
100.0107.1116.5
128.1140.6148.6153.4158.1
146.5148.6149.3150.2
151.9152.7153.8155.2
156.3157.3159.0159.9
1 Output refers to gross domestic product originating in the sector in 1972 dollars.2 Hours of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates based primarily onestablishment data.
3 Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Also includes anestimate of wages, salaries, and supplemental payments for the self-employed.4 Hourly compensation divided by the consumer price index for all urban consumers.
* Current dollar gross domestic product divided by constant dollar gross domestic product.Source: Department of Labor, Bureau of Labor Statistics.
278
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-41.—Changes in productivity and related data, business sector, 1948-84
[Percent change from preceding period; quarterly data at seasonally adjusted annual rates]
Year or quarter
Output per hourof all persons
Nonfarmbusiness
Output'
sectorNonfarmbusiness
sector
Hours of allpersons2
sectorNonfarmfusinesssector
Compensation perhour3
sectorNonfarm
per hour
sectorNonfarmbusiness
sector
Unit tabor costs
sectorNonfarmbusinesssector
Implicit pricedeflator*
sectorNonfarmbusiness
sector
1948...1949...
1950...1951...1952...1953...1954...
19551956195719581959
196019611962,:19631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984 P.
1982:\\\.IllIV
1983:
\\Z"ZZIIIIV
1984:
\\ZZZZ.IllIV p
5.31.5
7.92.83.23.21.6
4.01.02.53.13.2
1.53.33.83.74.3
3.53.12.33.3
3.63.52.6
-2 .4
2.23.32.4
- L 2
- . 51.9
273.6
.a2.42.7
4.04.9
.62.6
4.32.0
6.01.72.31.71.4
3.9.3
1.72.43.4
2.93.63.23.9
3.12.51.93.3
3.33.72.4
- 2 . 5
2.03.22.2
.6-1 .5
- . 71.5
3.53.1
2.5-1.6
3.61.1
4.48.12.11.0
6.1-1 .9
9.15.83.34.3
-1 .8
7.92.61.0
-1 .67.3
1.61.75.54.36.0
6.85.52.25.12.9
~3.06.66.6
-2 .0
-2 .06.46.65.52.3
-1 .22.5
-2 .64.4
-3 .6-2 .6-1 .3-1 .2
4.412.49.37.8
11.411.2
1.84.3
6.0-1 .9
9.46.53.44.2
-2 .0
8.22.81.2
-1 .97.9
1.51.85.84.46.4
6.95.92.15.32.9
-1 .02.96.96.8
-2 .0
- 2 . 26.76.75.72.2
-1 .42.1
-2 .65.08.5
- 3 . 8- 1 . 4
l !
6.014.38.79.1
10.310.6
73.9
0.7- 3 . 3
1.12.9
.11.0
- 3 . 3
3.81.5
-1 .5-4 .5
3.9
.2-1 .5
1.6.6
1.6
3.22,3
- . 0172.6
-1 .6
l ! o3.9
.4
-4 .13.04.14.93.5
- 7.6
-2 .81.65.0
-5 .9- . 3
-3 .6-3 .8
2.26.16.46.2
1.6-3 .8
3.14.61.02.5
-3 .4
4.12.5
4.4
.6-1 .1
2.21.12.4
3.73.4
2 03.2
-1 .3
1114.3
-4 .13.44.45.137
- . 6.6
-2 .81.55.2
i- 3 . 6- 4 . 0
8.51.6
7.19.86.46.43.2
2.56.56.54.44,3
4.23.84.63.75.2
3.97.05.37.87.0
7.36.66.58.09.4
9.68.57.78.59.4
10.49.48.14.347
1076.87.54.5
4.42.22.06.1
8.62.9
5.88.85.55.63.2
3.66.0573.84.0
4.33.24.03.54.5
3.46.05.57.5
. 6.57.06.6677.69.4
9.68.17,58.69.0
10.39.68.04.94.6
6.13.73.63.5
0.72.6
6.0174.15.72.8
2.84.92.91.63.5
2.62.73.42.53.8
2.24.02.43.51.5
1.32.23.11.6
-1 .4
.52.61.2.8
-1 .7
- 2 7- . 91.91.1
.4
671.3
0.83.9
4.8
3.24.82.7
3.94.42.21.03.2
272.12.82.23.2
173.02.63.21.1
1.02.23.31.3
-1 .4
221.0
.8- 2 , 0
- 2 . 8
~171.6
.3
6.5
is
5.4
-1 :9
6.93.03.11.6
-1 .45.53.91.31.0
2.7.5,7
0
.33.83.04.467
6.42.92.95.3
12.1
7.35.15.18.0
107
11.07.37.91.61.1
809.45.01.7
2.2- 3 . 5
- . 84.6
2.1-2 .9
3.71.5
4.1.9
- . 26.93.13.91.7
- . 3573.91.4.6
3.5.3.4
3,53.54,16.8
6.63.12.85.0
12.2
7.54.75.28.0
107
11.18.0771.41.5
7.97.6374.0
3.1-1 .7
4.71.8
7.0-1.0
1.67.41.1
.91.0
1.63.33.51.32.0
1.4.6
1.51.11.0
1.93.0274.04.9
4.54.43.45.59.5
9.84.75.67.59.0
9.39.65.33.03.2
375.42.31.8
6.8.9
176.61.82.01.4
2.23.53.6
.92.3
1.5.6
1.51.21.2
1.62.83.24.04.7
4.84.53.03.8
10.2
10.35.1577.18.8
10.09.85.73.23.1
3.85.72.02.4
4.62.22.73.7
2.82.84.22.5
» Output refers to gross domestic product originating in the sector in 1972 dollars.2 Hours of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates based primarily onestablishment data.3 Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Also includes anestimate of wages, salaries, and supplemental payments for the self-employed.
4 Hourly compensation divided by the consumer price index for all urban consumers.8 Current dollar gross domestic product divided by constant dollar gross domestic product.Note.—Data relate to all persons engaged in the sector. Percent changes are based on original data and therefore may differ slightly
from percent changes based on indexes in Table B-40.Source: Department of Labor, Bureau of Labor Statistics.
279
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
PRODUCTION AND BUSINESS ACTIVITY
TABLE B-42.—Industrial production indexes, major industry divisions, 1929-84
[1967^100; monthly data seasonally adjusted]
Year or month
1967 proportion
1929 .19331939
1940194119421943194419451946194719481949
19501951195219531954.19551956195719581959
I960196119621963 .19641965 .196619671968196919701971.19721973197419751976197719781979
19801981198219831984 '1983:JanFebMarAprMay .JuneJulyAug ...SeptOct .NovDec
1984:JanFebMarAprMayJune...,JulyAugSeptOctNov*Dec" .. . .
Totalindustrialproduction
100.00
21613.721.7
25.031636.344.047 440.735 039.441138.844 948.750 654.851958.561161957 964.8
66.266.772 276.581789.897.81000106.3111.1107 8109.6119 7129.8129 3117 8130.5138 2146.1152.5
147 01510138.6147 6163.5
137.4138.1140.0142.6144.4146.4
149.7151.8153.8155.0155.3156.2
158.5160.0160.81621162 8164.4165.9166.0165.0164.5165 2166.2
Manufacturing
Total
87.95
22 814.0-21.525.432 437.847.050 942.6 •35 339.440 938.7
45 048.650 655.251558.260 561.257 064.265.465.671575.881.089.797.9100 0106.4111.0
106 4108.2118 9129.812941163130.3138 4146.8153.6146 7150 4137.6148 2165.0
136.7138.2140.4143.1145.1147.4,
150.6152.8155.1156.2156.4156.8
159.5161.4162.1163 4164 2165.7167.3167.6166.6166.41671168.1
Dura-ble
51.98
22.59.117.7
23.531439.954.259945.231637.739 335.7
43 548.951958.751859.261161.653 961.962.961.868.673.178.389.098.9100 0106.5110.6102 3102.4113 7127.1125 7109 3122.3130 0139.7146.4136 7140 5124.7134 5154.7
122.5123.9126.3129.1131.0133.2136.8138.8141.6142.8143.6145.0
148.6150.5151.4152 6153 3154.9157.2157.8157.1157.0157 6158.3
Non-durable
35.97
23.219.926.1
27.533.334.637.138.638.539.741.342.742.046.748.349.251.251.657.260.161.161.667.7
69.371.575.880.085.290.996.7100.0106.2111.5112.3116.6126.5133.8134.61264141.8150.5156.9164.0
161.2164.8156.21681179.8
157.4159.0160.7163.3165.4167.8
170.6172.9174.6175.6174.8173.9
175.2177.2177.6179.1179 9181.3181.8181.7180.3180.0180.7182.3
Min
ing
6.36
43.130.642.1
46.849.751.352.556.255.154.261.364.457.1
63.870.069.471.269.977.982.082.175.378.7
80.380.883.186.489.993.298.2100.0104.2108.3112.2 '109.8113.1114.7115.3112.8114.2118.2124.0125.5132.7142.2126.1116 6125.9
121.9115.6112.6111.6112.8112.6
115.0116.1117.1118.3121.1123.7
124.8124.1123.8123 3125 0127.0129.9128.3128.7123.8125 4126.7
Ittill
ties
5.69
7.46.710.7
11.813.314.916.517.517.818.620.122.423.927.231.033.736.539.343.948.251.553.959.3
63.467.072.077.083.688.795.5100.0108.4117.3124.5130.5139.4145.4143.7146.0151.7156.5161.4166.0
168.3169.1168.7172 4180.7
163.1162.0165.8169.3169.7169.8
176.0179.3179.3176.5176.3182.5
181.0176.5180.0182.7182.3184.3181.8180.6180.9180.5180 5178.8
Source: Board of Governors of the Federal Reserve System.280
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-43.—Industrial production indexes, market groupings, 1947-84
[1967=100; monthly data seasonally adjusted]
Year or month
1967 proportion194719481949
1950195119521953195419551956195719581959
I960196119621963196419651966196719681969
1970197119721973197419751976197719781979
19801981198219831984 "
1983:JanFebMarAprMayJuneJulyAugsepr I:::::::::::::::::::::::::oct .:..:::..:NovDec
1984:JanFebMarAprMayJune
JulvAugSeptOcfN o V . •.Dec p
Totalindustrial
production
100.00
39.441138.8
44.948.750654.851.958.561.161.957.964.8
66.266.772,276.581.789.897.8
100.0106.3111.1
107 8109.6119.7129.8129.3117 8130.5138 2146.1152.5
147.0151.0138.6147.6163.5
137.4138.1140.0142.6144.4146.4
149.7151.8153.8155.0155.3156.2
158.5160.0160.81621162.8164.4
165 9166.0165.0164.5165.2166.2
Final products
Total
47.82
38.640.038.8
43.747.250.754.151.355.458.660.357.663.2
65.365.871.475.579.787.695.9
100.0106.2109.6
105.31063115.7124.4125.11182127.6135.9142.2147.2
145.3149.5141.5147.1162.7
140.1138.9139.9142.8144.5146.4
149.0150.7152.1152.7153.2155.2
157.5158.0158.6160.2161.1163.1
165.2165.1164.6165.2166.0167.0
Consumer goods *
Total
27.68
42.443.743.4
49.649.150.253.252.959.061.262.662.168.1
70.772.277.181.385.992.697.3
100.0105.9109.8
109.0114.7124.4131.5128.9124 0137.1145.3149.1150.8
145.4147.9142.6151.7161.8
143.6143.4144.3147.7150.4152.4
154.8156.3157.3156.9156.1157.7
159.5159.4160.2161.4161.7163.0
163.8162.5161.6161.8162.8163.7
Auto-motive
products
2.83
45.347 447.0
59.152.347159.555.473.660.663.550.563.3
72.566.180.187.791.9
113.3112.8100.0119.4118.1
98 8124.4141.4153.0132.8125 8155.71756179.9167.7
1328137.9129.5158.2181.4
136.2144 3142.6144.9152.2160.0
167.0168.1172.9171.3171.5178.4
184.5182.1184.11809179.8184.3
185 0181.8173.0171.3184.2186.5
Homegoods
5.06
37.539136.2
49.943.043.048.644.953.055.754.551.459.0
59.461.366.571.878.488.997.9
100.0106.4113.2
110.2115.6129.5142.5136.8118 8134.11419147.7149.2
138.9142.0129.1141.4151.5
129.1128.8132.8138.1141.8143.2
144.9146.4148.8148.4147.2147.5
151.5151.5151.3151.7151.1152,0
151.8151.9152.0151.3150.2150.9
Equipmen
Total
20.14
30.632 228.7
31.143.351.956.349.350.455.357.551.556.5
58.157.363.767.571.480.794.0
100.0106.5109.3
100.194.7
103.8114.5120.01102114.6123 0132.8142.2
145.2151.8139.8140.8163.8
135.3132 7133.8136.2136.5138.2
141.0143.1144.9147.0149.1151.8
154.9156.1156.4158.5160.3163.3
167.0168.7168.9170.0170.2171.6
Busi-ness
12.63
38.039 534.5
37.045.251.253.346.850.858.861.151.557.9
59.457.762.765.873.784,4977
100.0105.5112.5
107.0104.1118.0134.2142.4128.2135.4147.8160.3171.3
173.2181.1157.9153.3180.7
146.6142 7143.7146.91477150.2
153.3156.61587161.3164.1167.3
1707171.9172.1173.5176.5181.1
185.5187.6186.4187.1187.1188.5
t
De-fenseand
space
7.51
10.312112.7
14.936.651.461.654.249.748.550.750.953.7
55.156.064.969.967.774.988.1
100.0108.2104.0
88.578.879.981.482.480079.881.386.593.4
98.2102.7109.4119.9135.5
116.41161117.0118.2117.6118.0
120.4120.2121.8122.9124.0125.7
128.3129.5130.1133.2133.1133.5
135.9136.8139.5141.1141.8143.8
Inter-mediateproducts
12.89
41.944342.0
48.851.350.954.554.361.764.464.463.069.5
70.071.475779.985.290.696.2
100.0106.3112.9
112.9116.7126.5137.2135.31231137.2145.1154.1160.5
151.9154.4143.3156.6172.5
1437145 3147.8150.8152.2154.5
158.1162.2165.4166.5165.5165.4
167.8169.0170.2171.0171.6173.5
175.8175.1173.0173.7173.7174.7
Total
39.29
39.541237.6
45.049.850,556.151.861.362.862.856.565.2
66.166.272.176.782,992.4
100.7100.0106.5112.5
109.2111.3122.3133.9n?41155131.7138.6148.3156.4
147.6151.6133.7145.2161.5
132.0134 9137.6139.71417143.7
147.81497152.2154.0154.5154.5
156.6159.4160.4161.5162.0162.9
163.5164.0162.81607161.5162.3
Materials2
Dura-ble
goods
20.35
38 339435.3
44.450.551660.352.063763.963.853.764.0
64.863 370.475181.993 8
103.3100.0106.2112.1
1038104.91177134.6132.7109.1128.0136.1149.0157.8
143.0149.1125.0138.6161.8
121.5125.3128.7132.41347137.0
141.1144.2147.4149.4150.3151.3
154.6158.6159.5161.3161.6163.0
164.2165.3164.3163.0163.0163.3
Non-durablegoods
10.47
45 952.554 954754.462.1
63.265 871.375 682.290397.5
100.0108.81157
1154120.2132.9142.2142.61266147.8155.6165.6175.9
171.5174.6157.5174.5185.0
159.7164.0167.5168.7172.1174.3
177.0178.0182.3185.3184.8180.3
181.2184.1185.91857187.4186.7
186.5186.7184.0182.5184.6186.5
1 Also includes clothing and consumer staples, not shown separately.2 Also includes energy materials, not shown separately.Source: Board of Governors of the Federal Reserve System.
281Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-44.—Industrial production indexes, selected manufactures, 1947-84
[1967-100; monthly data seasonally adjusted}
Year or month
Durable manufactures
Primarymetals
TotalIronand
steel
Fabri-catedmetalprod-ucts
Non-elec-trical
machin-ery
Electri-cal
machin-ery
Transportationequipment
TotalMotor
vehiclesand
parts
Lumberand
prod-ucts
Nondurable manufactures
Apparelprod-ucts
Printingand
publish-ing
Chem-icalsand
prod-ucts
Foods
1967 proportion..
19471948194919501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984 P..
1983:JanFeb..Mar..
6.57 4.21 5.93 9.15 8.05 9.27 4.50 1.64 3.31 4.72 7.74
May-June..
July...,Aug..,Sept..,Oct..,Nov....Dec...
1984:Jan..,..Feb....Mar..
June...
JulyAugSept....Oct.Nov...Dec"...
63.365.855.469.775.869.278.563.582.582.078.562.372.7
72.471.176.382.392.8
102.1108.4100.0104.3113.8106.6100.2112.1126.7123.196.4109.7111.1119.9121.3102.3107.975.385.495.1
73.177.981.283.184.984.8
85.587.5
92.290.4
93.298.497.599.398.297.9
94.594.494.193.090.588.9
49.950.845.856.1
70.193.291.588.266.576.5
77774.277.384.395.9
105.2108.4100.0103.2112.6
104.796.1
107.1122.3119.895.8
104.8103.8113.2113.2
92.499.861.771.579.7
59.064.366.968.569.569.7
71.875.178.284.379.274.1
80.786.084.484.083.583.5
76.577.777.575.672.9
59.958.566.059.467.868.870.663.371.0
71.169.475.477.882.690.897.2
100.0105.6107.9
102.4103.5112.1124.7124.2109.9123.9131.0141.6148.5
134.1136.4114.8120.2137.6
107.6110.3113.9115.3115.5118.5
122.7126.0127.4126.9128.5129.2
131.7132.8134.9135.5136.5138.7
140.6140.0139.5140.7139.6140.9
39.039.233.4
37.547.751.954.046.150.658.057.948.656.7
56.955.462.166.375.685.098.8
100.0101.8109.3
104.4100.2116.0133.7140.1125.1134.5143.6153.6163.7
162.8171.2149.0150.6181.2
138.0136.2138.6143.1146.1149.5
154.2157.3158.3159.2161.8164.3
169.5170.9171.9174.9178.8182.0
186.9189.1187.9187.2186.4187.1
22.223.021.6
29.629.834.039.034.739.943.142.839.247.6
51.654.862.964.768.481.797.9
100.0105.5111.9
108.1107.7122.2143.1143.8116.5134.8145.4159.4175.0
172.8178.4169.3185.5217.5
169.5168.9173.8177.2180.1182.4
188.3189.2195.8198.4200.1201.5
206.2209.9212.0214.6214.5216.0
221.5221.5222.8221.9224.0224.7
31.834.834.941.846.654.268.059.268.066.070.755.863.2
65.461.571.178,080.095.1
102.0100.0111.1108.4
89.597.9
108.2118.3108,797.4
111.1122.2132.5135.4
116.9116.1104.9117.8137.7
106.3109.6110.1111.4113.8116.6
119.7121.1124.7125.5127.3130.8
134.9135.2135.8134.5135.0137.2
140.6141.0137.6137.1141.8142.8
60.581.265.869.051.066.2
74.765.579.888.390.7
115.9113.9100.0120.3116.5
92.3118.6135.8148.8128.2111.1142.0161.1169.9159.9
119.0122.3109.8137.1165.9
113.9123.0123.2125.5130.4136.2
142.3144.3150.9150.9152.9158.9
166.3164.4165.8161.9163.0165.3
169.0169.6162.4161.6171.4172.6
58.961.354.1
65.765.564.768.468.075,975.068.869.979.3
74.778.282.586.392.796.3
100.0100.0105.5107.9
105.6113.8120.8126.0116.2107.6123.2131.2136.3136.9
119.3119.1112.6137.2149.2
130.0130.2128.7132.1135.8137.4
141.3141.6142.3141.7141.0143.8
146.0145.6149.3151.2146.3148.5
146.0148.8149.2152.6152.4
57.860.359.7
64.363.166.367.266.473.375.074.972.880.1
81.782.285.589.192.297.499.9
100.0102.9106.7
101.4104.7109.4117.3114.3107.6125.7134.2134.2134.4
127.0120.4
43.345.446.648.949.749.752.054.159.563.265.463.968.2
71.071.373.977.882.687.994.6
100.0103.2107.4
107.0107.1112.7118.2118.2113.3122.5127.6131.5136.9
139.6144.2144.1152.5169.6
141.3144.0145.9145.7145.2147.4
152.0157.8161.7162.7162.0161.7
163.4164.8165.2166,3167.5169.0
172.6173.1170.5172.2173.9173.5
19.721.321.0
26.229.731.133.634.139.842.745.246.654.3
56.459.265.771.878.887.895.7
100.0109.5118.4
120.4125.9143.6154.5159.4147.2170.9185.7197.4211.8
207.1215.6196.1215.0229.0
197.6202.3205.7208.5211.0214.7
218.3220.3224.1228.4225.6221.1
221.5224.8225.0228.3227.9231.0
232.0231.6230.8229.5230.5
8.75
55.855,255.9
57.959.060.261.462.766.370.171.172.976.5
78.680.983.486.490.492.496.0
100.0102.6106.1
108.9112.8116.8120.9124.0123.4133.0138.8142.7147.5
149.6152.1151.1156.4163.7
154.4153.0152.0153.7155.6157.7
159.9159.3158.2157.6157.1157.7
159.4160.0161.2163.1164.2165.1
164.9164.7164.3165.0
Source: Board of Governors of the Federal Reserve System.
282
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-45.—Capacity utilization rate, 1948-84
[Percent; quarterly data seasonally adjusted]
Year or quarter
19481949
19501951195219531954
19551956195719581959
I9601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984 P
1980:
IIIIIIV
1981:
||IllIV
1982:1IIIIIIV
1983:
||Ill . ...
iv!!!1984:
if ""."".'.".HIIV"
Totalindustry
86987.386.8
80.979.884.488.184.3
74.480.482.684.885.9
80.280.272.175.381.6
84.379.177.480.3
81.481.381.077.0
74.272.671.769.8
71.273.977.378.8
80.581.782.481.7
Total
82.574.2
82 885.885489280.3
87.186483.775.281.9
80 277.481683.585.6
89.691186.987.286.3
79.578.583.587,683.7
72.979.682.284.786.0
79.679.471.175.281.7
83.878.376479.7
80.680.880.375.9
72.971.671.069.0
70.773.877.478.9
80.781.882.581.9
Durablegoods
87.187.285.9
76.574.680.787.283.1
70.377.18 M86.086.7
77.878.268.272.481.5
83.076.573 978.0
79.279.879.274.3
70.569.168.165.1
67.270.774.776.9
79.981.282.682.2
Manufacturing
Non-durablegoods
86.887.187.0
83.984.087.488.184,7
76.683.085.085.686.3
81.881.174.878.882.1
85.080.779 781.9
82.482.081.878.0
75.874.774.874.0
75.177.880,781.3
81.682.582.481.6
!
Primaryprocessing
87.276.2
88 590.284.989 480.6
92.189.784.775.483.4
79.877.981.683.887.8
91.191.485.787.788.5
82.982.388.192.487.8
73.882.384.687.989.5
80.380.868.975.881.8
87.278.074.881.3
83.582.681.975.2
71.568.868.666.8
70,574.678.379.9
81.782.481.981.4
Advancedprocessing
80.073.3
79 883.485 989380.1
84.384,583.175.181.1
80 477.281.783.484.6
88.991287.786.985.2
77.676,481.085.081.5
72.578.280.982.984.0
79.278.772.374.981.7
82.278.577.378.7
79.179.779.476.3
73.773.172.370.2
71.173.576.978.2
80.381.482.882.1
Mining
81583.986.0
88.586.489.190.290.2
87.687.787.887.985.2
86.488.676.670.575.8
88.086.984 486.7
90.286190.488.1
86.278.371.170.9
70.667.970.273.1
75.075.477.775.3
Utilities
92 494.295.6
94.892.894.092.986.9
84.384.984.984.585.2
84.783.481.981.983.6
84.984.185 884.0
82.984.184.182.5
83.482.981.380.1
78.580.884.484.0
83.885.083.582.4
Industrialmaterials
85987.388.3
82.481.486.991787.0
73.381.182 685.687.6
80.480 770.175.282.1
86.279.275 680.6
82.781982,076.2
73.070.769.467.1
70.173.577,579.6
81.682.782.981.4
Source: Board of Governors of the Federal Reserve System.
283Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-46.—New construction activity, 1929-84
[Value put in place, billions of dollars; monthly data at seasonally adjusted annual rates]
Year or month
1929
1933
1939
19401941194219431944
19451946
New series194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984 ".
Totalnew
construc-tion
10.8
2.9
8.2
8.712.014.18.35.3
5.814.3
20.026.126.7
33.635.436.839.141.4
46.547.649.150.055.4
54.756.460.264.868.0
74.176.878.587.594.3
95.2110.3124.4138.4139.2
135.9151.1173.8205.6230.4
230.7239.1230.1262.2311.9
Private construction
Total
8.3
1.2
4.4
5.16.23.42.02.2
3.412.1
16.721.420.5
26.726.226.027.929.7
34.834.935.134.639.3
38.939.342.345.547.7
52.052.852.959.966.3
67.180.494.2
105.9100.9
95.1112.0135.7159.7181.6
175.7185.8179.1211.4256.2
Residentialbuildings1
Total2
3.6
.5
2.7
3.03.51.7.9
9.913.112.4
18.115.915.816.618.2
21.920.219.019.824.3
23.023.125.227.928.0
27.925.725.630.633.2
31.943.354.359.750.4
46.560.581.093.499.0
87.386.674.8
111.7135.1
Newhousing
units
3.0
7.810.510.0
15.613.212.913.414.9
18.216.114.715.419.2
17.317.119.421.721.8
21.719.419.024.025.9
24.335.144.950.140.6
34.447.365.775.878.6
63.162.751.986.1
102.8
Nonresidential buildings and otherconstruction»
Total
4.7
1.7
2.12.71.71.11.4
2.15.8
6.98.28.0
8.610.310.211.311.5
12.914.716.114.815.1
15.916.217.217.619.7
24.127.127.329.333.1
35.337.240.046.250.5
48.651.454.766.282.6
99.2104.399.6
121.0
Com-mercial3
1.1
1.01.41.2
1.41.51.11.82.2
3.23.63.63.63.9
4.24.75.15.05.4
7.89.4
9.811.613.515.515.9
12.812.814.818.624.9
29.934.237.335.849.4
Indus-trial
0.9
1.71.41.0
1.12.12.32.22.0
2.43.13.62.42.1
2.92.82.82.93.6
6.06.8
6.55.44.76.27.9
8.07.277
11.015.0
13.817.017.312.914.5
Other*
2.6
4.25.55.9
6.16.76.87.37.2
7.38.09.08.89.0
8.98.79.29.7
10.7
15.516.9
19.020.121.824.526.7
27.831.532.236.742.7
44.747.949.751.057.2
Public construction
Total
2.5
1.6
3.8
3.65.8
10.76.33.1
2.42.2
3.34.76.3
6.99.3
10.811.211.7
11.712.714.115.516.1
15.917.117.919.420.4
22.124.025.527.628.0
28.129.930,232.538.3
40.939.138.245.948.8
55.053.351.050.855.8
Federal
0.2
1.23.89.35.62.5
1.7.9
1.21.5
1.63.04.24.13.4
2.82.73.03.43.7
3.63.93.94.03.9
4.04.03.53.43.3
3.34.04.44.95.3
6.37.07.38.48.6
9.610.410.110.611.2
State andlocal5
See next page for continuation of table.
284Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-46.—New construction activity, 1929-84—Continued
[Value put in place, billions of dollars; monthly data at seasonally adjusted annual rates]
Year or month
1983:J3nFeb
AprivfayJune
JulyAugSeptOctNovDec
1934:JanFebMarAprMayJune
July ... .AugSeptOctNovp.Decp
newconstruc-
tion
244 8245.0243 2248.7254.9264.1
272 3278.02817267.9267 0263.9
280.93004309.73086316.4315.3
314.2318.0318.7317.9316 0318.7
Private construction
Total
1910195.3195 2200.1205.2213.1
220 2224.7229 6219.2217 4213.3
230.02481255.02541261.2257.8
258 2261.2260 9261.2259 8262.8
Residentialbuildings'
Total2
90 795.698 5
103.5108.5113.7
120 9126.8128 6118.6113 5109.7
121.9137 4141.1136 6138.4136.4
137 8138.91371135.2132 2130.4
Newhousing
units
64.370.273 878.683.288.2
91.293.993 894.294 995.0
96.9102.3102.4102.7106.4105.0
104.6105.0103.2103.4102.1100.8
Nonresidential buildings and otherconstruction'
Total
100.399.796796.596.799.4
99.397.9
1010100.6104 0103.6
108.0110 7113.9117 5122.8121.4
120.4122.2123.8126.0127 6132.3
Com-mercial 3
36.435.034 033.433.534.8
35 636.437.237.438137.4
41.142145.347 449.748.9
48.449.550.953.554658.2
Indus-trial
15113.813 613.012.813.3
13 013.612 610.411612.2
12.914 014.413615.214.1
13.814.614.914.915 415.7
Other*
48.850.949.150.250.351.4
50.747.951.352.854.254.0
54.154.754.256.557.958.4
58.258.158.057.557.758.5
Public construction
Total
53.849.748 048.749.751.0
52.053.352.148.849 650.6
50.952 354.854 555.257.5
56056.957.856.756156.0
Federal
10.610.310 510.610.29.9
11.310.910910.010.4'11.5
10.210 610.911111.211.8
10.511.312.111.311.511.3
State andlocal*
43139.437 638.139.541.1
40 742.341238.839 239.1
40.841743.843444.045.7
45.445.645.745.444.644.7
1 Beginning I960, farm residential buildings included in residential buildings; prior to 1960, included in nonresidential buildings andother construction.
2 Total includes additions and alterations and nonhousekeeping units, not shown separately.3 Office buildings, warehouses, stores, restaurants, garages, etc.4 Religious, educational, hospital and institutional, miscellaneous nonresidential, farm (see also footnote 1), public utilities, and allother private.
5 Includes Federal grants-in-aid for State and local projects.Source: Department of Commerce, Bureau of the Census.
285Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-47.—New bousing units started and authorized, 1959-84
[Thousands of units]
Year or month
New housing units started
Private and public1
Total(farm andnonfarm)
Nonfarm
Private (farm and nonfarm)1
TotalType of structure
l u n i t 2 to 4 5 unitsunits or more
New private housing units authorized*
Total
Type of structure
1 unit 2to4units
5 unitsor more
1959...
1960...1961...1962...1963...1964...
1965...1966...1967...1968....1969...
1970...1971...1972...1973...1974...
1975...1976...1977...1978...1979...
1980...1981...1982...1983...1984".
1983:JanFebMarAprfay....June....
JulyAug
SiNovDec
1984:JanFebMarnday".'.'.;June....
JulyAugSept....Oc?NovDec...
1,553.7
1,296.11,365.01,492.51,634.91,561.0
1,509.71,195.81,321.91,545.41,499.5
1,469.02,084.52,378.52,057.51,352.5
1,171.41,547.6
12,001.72,036.11,760.0
1,312.61,100.31,072.11,712.51,751.0
92,996.7
135.8136.4175.5173.8
161.9177.8156.8159.9136.4108.5
109.3130.4138.1173.0182.2184.3
163.1147.8149.6152.7123.796.9
1,531.3
1,274.01,336.81,468.71,614.81,534.0
1,487.51,172.81,298.81,521.41,482.3
1,517.0
1,252.21,313.01,462.91,603.21,528.8
1,472.81,164.91,291.61,507.61,466.8
1,433.62,052.22,356.62,045.31,337.7
1,160.41,537.51,987.12,020.31,745.1
1,292.21,084.21,062.21,703.01,744.7
1,6321,7061,5921,5491,7791,743
1,7931,8731,6791,6721,7301,694
1,9802,2621,6622,0151,7941,877
1,7541,5541,6831,5351,5541,587
1,234.0
994.7974.3991.4
1,012.4970.5
963.7778.6843.9899.4810.6
812.91,151.01,309.21,132.0
888.1
892.21,162.41,450.91,433.31,194.1
852.2705.4662.6
1,067.61,079.9
283.0
257.4338.7471.5590.8
108.4 450.0
86.661.171.680.985.0
84.8120.3141.3118.368.1
64.085.9
121.7125.0122.0
109.591.180.0
113.5121.8
422.5325.1376.1527.3571.2
535.9780.9906.2795.0381.6
204.3289.2414.4462.0429.0
330.5287.7319.6522.0543.0
1,208.3
998.01,064.21,186.61,334.71,285.8
1,239.8971.9
1,141.01,353.41,323.7
1,351.51,924.62,218.91,819.51,074.4
939.21,296.21,690.01,800.51,551.8
1,190.6985.5
1,000.51,605.21,645.4
938.3
746.1722.8716.2750.2720.1
709.9563.2650.6694,7625.9
646.8906.1
1,033.1882.1643.8
675.5893.6
1,126.11,182.6
981.5
710.4564.3546.4901.5893.6
Seasonally adjusted annual rates
77.1
64.667.687.1
118.9100.8
84.861.073.084.385.2
88.1132.9148.6117,064.3
63.993.1
121.3130.6125.4
114.5101.888.3
133.6140.0
192.9
187.4273.8383.3465.6464.9
445.1347.7417.5574.4612.7
616.7885.7
1,037.2820.5366.2
199.8309.5442.7487.3444,8
365,7319.4365.8570.1611.9
1,0871,0661,0161,0301,1501,124
1,0481,1241,0381,0171,0741,021
1,3011,4631,0711,1961,1311,084
990932
1,016964
1,0091,064
97116103113102118
12710911596130133
114148137169116107
118113109106124122
448524473406527501
618640526559526540
565651454650547686
646509558465421401
1,4311,4561,4921,5561,6601,764
1,7521,6711,5401,6501,6491,602
1,7991,9021,7271,7581,7451,768
1,5651,5061,4401,4181,5911,588
862831859860943
1,010
930900864905919913
9891,083974957913916
823803841794824822
118115124138136141
138132130144141143
155151162155163151
138140122116138123
451510509558581613
684639546601589546
655668591646669701
604563477508629643
1 Units in structures built by private developers for sale upon completion to local public housing authorities under the Department ofHousing and Urban Development "Turnkey" program are classified as private housing. Military housing starts, including those financedwith mortgages insured by FHA under Section 803 of the National Housing Act, are included in publicly owned starts and excluded fromtotal private starts.
2 Authorized by issuance of local building permit: in 16,000 permit-issuing places beginning 1978; in 14,000 places for 1972-77; in13,000 places for 1967-71; in 12,000 places for 1963-66; and in 10,000 places prior to 1963
3 Not available separately beginning January 1970.Source: Department of Commerce, Bureau of the Census.
286Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-48.—Business expenditures for new plant and equipment, 1947-8$
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
194719481949
1950195119521953195419551956195719581959
I9601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984*
1985 «
1983:|||HIIV
1984:|||HIIV4
1985:|4
||*
Industries surveyed quarterly
Allindus-tries
19.6422.2719.78
21.0726.2627.5929.3528.36
304437.4140.0533.4635.49
39.08380240.5343.3350.90
591570.0072.3575 9585.25
91.3792.26102.73118.54137.20
138.28150 91174.68203.54240.22
264.44289.37282.71269.22307.59
333.40
261.71261.16270.05283.96
293.15302.7031311321.40
337.85344.86
Manufacturing
Total
8.739.257 32
7.73110712.1212 4312.00
12 5016.3317 5012.9813.76
16.3615 5316.0317 2721.23
254131.3732 2532 3436 27
36.9933 6035.4242.3753.21
54 92599569.2279 7298.68
115.81126 79119.68111.53131.01
146.25
109.86108.79111.12116.36
122.78127.67134 49139.09
146.00151.23
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
19.8016.7818.2222.7527.44
26.3328 4734.04404351.07
58.9161.8456.4451.7863.02
71.79
50.7448.4853.0654.85
58.9460.2065.4467.49
71.0974.36
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
17.1916.8217.2019.6225.76
28.59314735.1839.2947.61
56.9064.9563.2359.7567.99
74.46
59.1260.3158.0661.50
63.8467.4669.0671.60
74.9176.87
Non manufacturing
Total *
10.9113.0212.47
13.3415.1915.4716.9216.36
17.9421.0822.5420.4721,73
22.7322.4824.5026.0629.67
33.7538.6240.1043.6248.98
54.3858.6667.3176.1783.99
83.3690.96105.46123.82141.54
148.63162.58163.03157.69176.58
187.15
151.85152.38158.93167.60
170.37175.03178.61182.31
191.85193.63
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
2.022.672.883.314.62
6.107449.2410.2111.38
13.5116.8615.4511.8312.90
13.54
12.0310.9111.9312.43
13.9512.1312.6112.92
12.5713.04
Trans-portation
2.212.662.30
2.383.052.992.972.42
2.603.073.352.343.17
3.192823.263.364.46
5.466.436.346.797.04
6.955.936.727.418.23
8.688 899.4010 6812.35
12.0912 0511.95112012.91
13.52
11.0410.8811.0011.86
11.4612.9513 6513.56
13.0013.47
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
13.0314.7016.2617.9719.83
19.9822 3726.79299533.96
35.4438.4041.9542.0044.17
44.82
41.6141.4842.2242.69
43.6244.6144.7543.70
45.2146.20
Com-mercialandother
6.386.776.01
6.707.297.318.098.42
9.7711.5911.5610.9711.74
12.8513.2114.7116.1118.08
20.4422.9623.0624.8828.47
32.3935.3641.4547.4951.31
48.6052 2760.0372 9983.85
87.5995.2793.6892.67106.61
115.28
87.1789.1093.79100.62
101.35105.35107.61112.12
121.07120.93
Addenda
Totalnon-farmbusi-ness2
21.8025.4623.54
25.3230.8331.5933.5833.13
36.5844.7648.1242.1744.78
48.6347 8251.2853.2561.66
70 4382.2283.4288 4599.52
105.61108.53120.25137.70156.98
157 7117145198.0823124270.46
295.6332149316.43302.50
Manu-facturing
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
36.9933.6035.4242.3753.21
54.9259 9569.2279 7298.68
115.8112679119.68111.53131.01
146.25
109 86108.79111.12116.36
122.78127.67134 49139.09
146.00151.23
Nonmanufacturing
Total
13.0716.2116.22
17.5919.7619.4721.1621.13
24.0828.4330.6229.1931.02
32.2832 2935.2535 9940.43
45 0250.8451.18561163.25
68.6274.9384.8295.33103.78
102.7911150128.871515217177
179.81194 70196.75190.97
Sur-veyedquar-terly
10.9113.0212.47
13.3415.1915.4716.9216.36
17 9421.0822 5420.4721.73
22.7322 4824.5026 0629.67
33 7538.624010436248.98
54.3858.6667.3176.1783.99
83.369096105.4612382141.54
148.63162.58163.03157.69176.58
187.15
15185152.38158.93167.60
170.37175.03178.61182.31
191.85193.63
Sur-veyedannu-ally9
2.163.193 76
4 254 574.004 234.76
6147.358 088.729.29
9 559 8010759 9310.76
112712.22110712 5014 27
14.24162617.5119.1619.78
194320 5423.4027 7030.24
31.18321233.723328
1 Excludes forestry, fisheries, and agricultural services; medical services; professional services; social services and membershiporganizations; and real estate, which, effective with the April-May 1984 survey, are no longer surveyed quarterly. See last column("nonmanufacturing surveyed annually") 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; medical services; professional services; social services and membershiporganizations; and real estate.4 Planned capital expenditures as reported by business in late October and November 1984, corrected for biases.
Note.—For details about the reduced industry coverage of the plant and equipment survey, see Survey of Current Business, January 1984.Source: Department of Commerce, Bureau of Economic Analysis.
287
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-49.—Sales and inventories in manufacturing and trade 1947-84
[Amounts in millions of dollars; monthly data seasonally adjusted]
Year or month
Total manufacturing andtrade
Sales1
35,26033,788
38,59643,35644,84047,98746,443
51,69454,06355,87954,20159,729
60,82761,15965,66268,99573,682
80,28387,18790,34898,104105,003
107,448116,017130,030153,412177,625182,230204,277229,624260,263297,565
327,113355,762343,504367,096
345,890342,742348,227351,012360,488368,971
370,181373,283379,229382,457386,564395,682
401,133398,815401,905405,880412,725414,124
411,410411,176410,505410,621414,833
Inven-tories2
52,50749,497
59,82270,24272,37776,12273,175
79,51687,30489,05287,09392,129
94,71395,594101,063105,480111,503
120,907136,790144,796155,697169,343
177,556187,766201,950233,237285,807
288,375318,544351,055398,459449,542
491,431523,623505,546514,336
502,209503,043499,370500,263501,035500,615501,379504,284506,984509,171511,453514,336
518,062527,216532,766541,060545,912546,834
551,366556,519560,430563,810564,506
Ratio »
1.421.53
1.361.551.581.581.60
1.471.551.591.601.50
1.561.541.501.491.47
1.451.471.561.541.55
1.621.581.491.411.45
1.571.481.461.441.43
1.451.431.501.37
1.451.471.431.431.391.36
1.351.351.341.331.321.30
1.291.321.331.331.321.32
1.341.351.371.371.36
Manufacturing
Sales1
15,51317,31616,12618,63421,71422,52924,84323,35526,48027,74028,73627,24730,286
30,87930,92333,35735,05837,331
40,99544,87046,48750,22853,501
52,80555,90663,02372,93784,794
86,59598,802113,202126,905143,936
154,391168,129159,193170,617189,442
159,020158,184161,809162,997166,603171,756171,408174,112177,521177,324180,875186,352
184,406185,005188,479187,332189,376190,401
190,658192,006190,151190,521191,978193,549
Invento-
25,89728,54326,321
31,07839,30641,13643,94841,612
45,06950,64251,87150,24152,94553,78054,88558,18660,04663,409
68,18577,95284,66490,61898,202
101,651102,658108,238124,628157,792
159,934175,193189,214210,385240,942
264,089282,059264,599260,426285,808
261,901261,042257,803257,748258,281257,661257,699259,074259,168259,569259,873260,426
260,884264,074267,379270,392274,593277,481280,019283,525285,185286,426285,833285,808
1.581.571.75
1.481.661.781.761.81
1.621.731.801.841.70
1.751.741.701.691.64
1.601.621.761.741.77
1.901.831.671.581.65
1.841.691.611.571.57
1.661.641.731.521.46
1.651.651.591.581.551.50
1.501.491.461.461.441.40
1.411.431.421.441.451.46
1.471.481.501.501.491.48
Merchant wholesalers
Sales1
6,8086,514
7,6958,5978,7829,0528,9939,89310,51310,47510,25711,491
11,65611,98812,67413,38214,529
15,61116,98719,44820,84622,609
23,94326,25729,58438,01447,74846,62350,69455,98766,11778,680
92,658100,67394,76598,649
94,34492,34792,61492,89096,64698,57799,941100,894102,171104,210103,793106,892
110,125108,328109,553111,043115,112114,401
113,310112,564112,114111,367111,955
Invento-ries2
7,9577,7069,2849,88610,21010,68610,637
11,67813,26012,73012,73913,879
14,12014,48814,93616,04817,000
18,31720,76524,83326,13428,624
32,03835,04538,63345,37256,94856,69764,07872,31185,56898,008
111,792115,854115,563118,067
115,030114,425114,569114,902113,557113,172
114,124114,227115,674116,825116,958118,067
119,201120,411121,477123,785124,368123,994
126,227126,676128,205128,723129,578
Ratio3
1.131.19
1.071.161.121.171.18
1.131.191.231.241.15
1.221.201.161.151.14
1.151.151.241.231.22
1.271.271.241.111.07
1.211.191.211.201.18
1.141.131.231.17
1.221.241.241.241.171.15
1.141.131.131.121.131.10
1.081.111.11U l1.081.08
1.111.131.141.161.16
Retail trade
Sales1
10,20011,13511,14912,26813,04613,52914,09114,095
15,32115,81116,66716,69617,95118,29418,24919,63020,55621,823
23,67725,33024,41327,03028,893
30,70033,85337,42242,46245,08249,01254,78160,43567,24274,948
80,06486,96089,54797,831107,985
92,52692,21193,80495,12597,23998,63898,83298,27799,537100,923101,896102,438
106,602105,482103,873107,505108,237109,322107,442106,606108,240108,733110,900110,815
Invento-ries2
14,24116,00715,470
19,46021,05021,03121,48820,92622,76923,40224,45124,11325,30526,81326,22127,94129,38631,09434,40538,07335,29938,94542,51743,86750,06355,07963,23771,06771,74479,27389,530102,504110,592
115,550125,710125,384135,843
125,278127,576126,998127,613129,197129,782129,556130,983132,142132,777134,622135,843
137,977142,731143,910146,883146,951145,359145,120146,318147,040148,661149,095
1.381.641.521.531.511.431.471.441.431.401.451.431.381.391.401.391.441.431.381.411.411.411.401.401.481.441.381.401.431.44
1.411.391.391.33
1.351.381.351.341.331.321.311.331.331.321.321.33
1.291.351.391.371.361.331.351.371.361.371.34
Ratio s
1.261.391.41
1 Monthly average for year and total for month.2 Seasonally adjusted, end of period.3 Inventory/sales ratio. For annual periods, ratio of weighted average inventories to average monthly sales; for monthly data, ratio of
inventories at end of month to sales for month.Note.—Earlier data are not strictly comparable with data beginning 1958 for manufacturing and beginning 1967 for wholesale and
retail trade.The inventory figures in this table do not agree with the estimates of change in business inventories included in the gross national
product since these figures cover only manufacturing and trade rather than all business, and show inventories in terms of current bookvalue without adjustment for revaluation.
Source: Department of Commerce, Bureau of the Census.
288Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-50.—Manufacturers*shipments and inventories, 1947-84
[Millions of dollars; monthly data seasonally adjusted]
Year ormonth
Shipmentsl
Total
Dura-ble
indus-tries
Non-durablegoodsindus-tries
Inventories2
Total
Durable goods industries
TotalMate-
rials andsupplies
Workin
proc-ess
Finished
Nondurable goods industries
TotalMate-
rials andsupplies
Workin
proc-
19471948194919501951195219531954
19551956195719581959
1960196119621963196419651966196719681969
1970197119721973 .1974
1975197619771978197919801981198219831984 P.....
1983:JanFebMar
jfcJune...{yAugSept....OctNovDec
1984:JanFebMar
June....JulyAugSept....OriNovDec"...
15,51317,31616,12618,63421,71422,52924,84323,35526,48027,74028,73627,24730,28630,87930,92333,35735,05837,33140,99544,87046,48750,22853,501
52,80555,90663,02372,93784,794
86,59598,802113,202126,905143,936
154,391168,129159,193170,617189,442
159,020158,184161,809162,997166,603171,756171,408174,112177,521177,324180,875186,352
184,406185,005188,479187,332189,376190,401
190,658192,006190,151190,521191,978193,549
6,6947,5797,1918,84510,49311,31313,34911,82814,07114,71515,23713,56315,609
15,88315,61617,26218,28019,637
22,22124,64925,26727,65929,437
28,18829,95434,02439,68644,228
43,65650,68959,26767,84876,060
77,55083,87276,85985,12698,639
78,00577,89679,65380,12482,01185,59485,07686,73088,96389,18192,31196,351
95,28396,29796,99095,69797,94499,042
98,390101,03598,943100,427101,778101,826
8,8199,7388,935
9,78911,22111,21611,49411,527
12,40913,02513,49913,68414,677
14,99615,30716,09516,77817,694
18,77420,22021,22022,57024,064
24,61725,95229,00033,25040,567
42,93948,11353,93559,05767,876
76,84184,25782,33485,49190,802
81,01580,28882,15682,87384,59286,16286,33287,38288,55888,14388,56490,001
89,12388,70891,48991,63591,43291,35992,26890,97191,20890,09490,20091,723
25,89728,54326,32131,07839,30641,13643,94841,612
45,06950,64251,87150,24152,945
53,78054,88558,18660,04663,409
68,18577,95284,66490,61898,202
101,651102,658108,238124,628157,792
159,934175,193189,214210,385240,942
264,089282,059264,599260,426285,808
261,901261,042257,803257,748258,281257,661257,699259,074259,168259,569259,873260,426
260,884264,074267,379270,392274,593277,481
280,019283,525285,185286,426285,833285,808
13,06114,66213,060
15,53920,99123,73125,87823,710
26,40530,44731,72830,25832,077
32,37132,54434,63235,86638,506
42,25749,92055,00558,87564,73966,78066,28970,25081,398
101,739102,874112,581121,601137,825160,451174,552186,053175,009171,571191,168
172,844172,079170,144170,368171,065170,154
169,679170,283170,084170,219170,656171,571
171,549173,203175,751177,993180,578182,452
184,559187,142188,915190,476190,428191,168
8,9667,8949,194
10,41710,60810,03210,77610,35310,27910,81011,06811,97013,32515,48916,45517,37618,693
19,18219,75920,86026,02835,151
33,92037,54840,25145,18552,606
55,07757,85952,47551,64056,439
51,56151,23150,42650,54850,80550,56450,20650,75950,82150,90951,17451,640
51,91052,22852,86653,07253,96754,420
55,33956,08956,57856,65256,00956,439
10,7209,721
10,75612,31712,83712,38713,063
12,77213,20314,15914,87116,19118,07521,93925,00527,33630,40829,84828,65030,78835,54542,603
43,36946,34550,62058,66969,277
77,00280,97777,72477,37288,439
77,16976,87576,18476,27776,75276,211
76,18976,33576,40176,78876,58277,372
77,05878,17379,92681,46582,65883,863
84,76586,03486,91687,84988,102
6,2066,0406,3487,5658,1257,8398,239
9,2459,0639,6629,92510,344
10,85412,49113,54714,16315,63917,75117,88018,60119,82323,98525,58628,69030,73033,97138,568
42,47347,21744,81042,55946,290
44,11443,97343.53443,54343,50843,37943,28443,18942,86242,52242,90042,559
42,58142,80242,95943,45643,95344,16944,45545,01945,42145,97546,31746,290
12,83613,88113,261
15,53918,31517,40518,07017,902
18,66420,19520,14319,98320,86821,40922,34123,55424,18024,903
25,92828,03229,65931,74333,463
34,87136,36837,98843,23056,05357,06062,61267,61372,56080,49189,53796,00689,59088,85594,640
89,05788,96387,65987,38087,21687,507
88,02088,79189,08489,35089,21788,855
89,33590.87191,62892,39994,01595,029
95,46096,38396,27095,95095,40594,640
8,3178,1678,5563,9718,7758,6629,0809,0829,4939,8139,978
10,13110,44811,15511,71512,28912,724
13,15013,68314,67618,13223,699
23,54225,83327,39829,30832,447
36,17637,66135,07436,06636,702
34,95634,85334,63234,47234,41134,73634,60635,39435,73135,68235,55836,066
36,48637,06336,95636,93137,64237,495
37,61837,64337,64837,43537,25036,702
2,4722,4402,5712>212,8642,8282,944
2,9463,11032963,4063,511
3,8064,2044,4214,8485422
5,2745,6655,9826,7078,175
8,8379,933
11,00311,92213,75915,74516,05114,30914,48514,696
14,37714,45614,22114,36914,21114,26614,46814,44114,49014,64714,84114,485
14,65614,73914,75914,86215,02215,160
15,03815,23914,95814,96214,834
1 Monthly average for year and total for month.2 Book value, seasonally adjusted, end of period.Note.—Data beginning 1958 are not strictly comparable with earlier data.Source: Department of Commerce, Bureau of the Census.
289
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-51.—Manufacturers' new and unfilled orders, 1947-84
[Amounts in millions of dollars; monthly data seasonally adjusted]
Year or month
New orders l
Total
Durable goodsindustries
Total
Capitalgoodsindus-tries,non-
defense
Non-durable
Unfilled orders2
TotalDurablegoods
industries
Non-durable
Unfilled orders-shipmentsratio»
TotalDurablegoods
industries
Non-durablegoodsindus-tries
19471948194919501951195219531954
19551956195719581959
19601961196219631964
1965196619671968196919701971197219731974
1975197619771978197919801981198219831984"....1983:
JanFebMar..
June..July...Aug...Sept..Oct....Nov...Dec...
1984:JanFebMar....
June...
atNovDec
15,25617,69315,614
20,11023,90723,20423,58622,335
27,46528,36827,55927,00230,72430,23531,10433,43635,52438,357
42,10046,40247,05650,68753,95052,03855,98364,16776,05687,244
85,22099,532115,032131,546147,403156,161167,761157,389173,433191,599
162,848157,844162,368165,869168,090175,877
174,451176,360180,336182,911186,606188,374
188,671191,336196,477189,715193,680190,620194,037192,578189.817185,856194,168192,845
6,3888,1266,633
10,16512,84112,06112,14710,76814,99615,36514,11113,29016,00315,30315,75917,37418,70920,65223,27826,17725,82528,11629,871
27,38829,99835,06442,72646,835
42,09951,40361,08272,33979,451
79,36083,56275,12987,806100,849
81,83777,51579,80182,86583,28689,46087,87888,82091,50994,77697,99198,444
99,439102,345105,18398,317102,25699,171101,704102,01598,67696,067104,037101,002
6,9037,660
6,7387,m8,62210,97112,67311,01112,79115,29119,45823,23123,25924,05020,68122,76426,854
20,48219,17220,13121,96021,84923,82722,06022,88725,29525,49924,68024,893
25,09327,01826,86025,88528,95828,029
27,64826,49927,83525,37827,12625,501
9,5668,9819,94511,06611,14311,43911,566
12,46913,00313,44813,71214,720
14,93215,34516,06116,81517,705
18,82320,22521,23122,57124,079
24,65025,98629,10433,33040,40943,12248,12953,95059,20767,95376,80184,19982,26085,62790,750
81,01180,32982,56783,00484,80486,41786,57387,54088,82788,13588,61589,930
89,23288,99191,29491,39891,42491,449
92,33390,56391,14189,78990,13191,843
34,47330,73624,045
41,45667,26675,85761,17848,266
60,00467,37553,18347,37052,73245,08047,40748,57754,32766,88280,07198,401104,547109,926115,422
106,158107,147121,061158,884188,467172,037180,562203,475259,755301,982
323,312318,794296,147330,122356,059
299,976299,636300,195303,067304,554308,675311,718313,967316,782322,369328,099330,122
334,385340,725348,717351,099355,398355,625
358,990359,564359,232354,566356,756356,059
28,57926,61919,62235.43563,39472,68058,63745,25056,24163,88050,35244,55949,37342,51444,37545,96551,27063,691
76,29894,575100,576105,950111,250
101,566102,119114,725151,504182,925
164,139172,273195,008249,461290,750312,564308,767287,014319,303345,861
290,847290,466290,614293,355294,630298,496301,298303,389305,935311,530317,209319,303
323,457329,512337,702340,320344,631344,765
348,065349,048348,782344,422346,678345,861
5,89441174,4236,0213,8723,1772,5413,0163,7633,4952,8312,8113,359
2,5663,0322,6123,0573,191
3,7733,8263,9713,9764,172
4,5925,0276,3367,3805,542
7,8988,2888,467
10,29411,23210,74810,0279,13310,81910,198
9,1299,1709,5819,7129,924
10,17910,42010,57810,84710,83910,89010,819
10,92811,21311,01510,77910,76710,860
10,92510,51610,45010,14410,07810,198
3.423.633.873.353.093.012.782.632.692.803.103.333.813,703.853.753.653.383.313.864.13
3.763.303.273.593.87
3.803.763743.373.41
3.673.703.613.63
3.543.533.483.513.473.37
3.473.513.553.593.553.49
3.553.513.523.433.443.41
4.124.274.554.003.693.54
3.373.133.243.373.723.954.554.404.654.50
4.394.063.904.564.964.523.943.894.214.604.544.564.634.084.12
4.534.564.434.464.414.28
4.334.324.234.284.224.08
4.234.264.304.384.334.254.334.274.284.184.164.12
0.961.121.04.85.86.94
.72
.79
.68
.73
.72
.80
.76
.73
.77
.77
.88
.93
.64
.84
.76
.70
.78
.76
.67
.59
.53
.55
.50
.52
.53
.54
.55
.55
.55
.56
.56
.58
.56
.56
.55
.55
.56
.55
.54
.52
.52
.53
.51
.51
.49
.49
.50
1 Monthly average for year and total for month.* 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.
290
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
PRICES
TABLE B-52.—Consumer price indexes, major expenditure classes, 1946-84
[1967=100]
Year ormonth
Allitems
Food andbeverages
Total1 Food
Housing
Total2 ShelterFuel and
otherutilities3
House-hold
furnish-ingsand
oper-ation2
andupkeep
Trans-portation
Medicalcare
Enter-tainment
Other
andservices
Ener-g y 3
1946194719481949
1950195119521953195419551956195719581959
58.566.972.171.4
72.177.879.580.180.580.281.484.3
196019611962.1963196419651966196719681969
88.789.690.691.792.994.5
1970197119721973197419751976..197719781979....
1980....1981198219831984....1983:
Jan..FebMar
June...
JulyAugSept...OciNovDec
1984:JanFebMar
fcJune...JulyAugSept....OctNovDec
97.2100.0104.2109.8
116.3121.3125.3133.1147.7161.2170.5181.5195.4217.4
246.8272.4289.1298.4311.1
293.1293.2293.4295.5297.1298.1
299.3300.3301.8302.6303.1303.5
305.2306.6307.3308.8309.7310.7
311.7313.0314.5315.3315.3315.5
100.0103.6108.8
114.7118.3123.2139.5158.7172.1177.4188.0206.3228.5
248.0267.3278.2284.4295.1
280.7281.6283.2284.6285.0284.7
284.7284.9285.3285.7285.3286.5
291.6294.2294.3294.5293.6294.3
295.3296.9296.4296.6296.3297.2
58.170.676.673.5
74.582.884.383.082.881.682.284.988.587.1
88.089.189.991.292.494.499.1
100.0103.6108.9
114.9118.4123.5141.4161.7175.4180.8192.2211.4234.5
254.6274.6285.7291.7302.9
288.1289.0290.5291.9292.4292.0
292.0292.2292.6292.9292.5293.9
299.4302.1302.2302.3301.4302.0
303.2304.8304.2304.4304.1305.1
60.665.269.870.9
72.877.278.780.881.782.383.686.287.788.6
90.290.991.792.793.894.997.2
100.0104.0110.4
118.2123.4128.1133.7148.8164.5174.6186.5202.8227.6
263.3293.5314.7323.1336.5
317.9318.5318.6320.3321.8323.1
324.5324.8326.4326.8327.0327.4
329.2331.0331.5333.2334.6336.2
338.1339.5341.4341.2340.9341.2
76.578.279.180.483.485.186.0
87.888.589.690.792.293.896.8
100.0104.8113.3
123.6128.8134.5140.7154.4169.7179.0191.1210.4239.7
281.7314.7337.0344.8361.7
338.3339.2339.3341.7342.7343.6
345.3346.6348.5349.8351.1351.8
353.2354.0355.5357.8358.9360.2
362.7364.6366.5367.8368.9370.1
83.083.585.187.389.991.793.8
95.997.197.398.298.498.398.8
100.0101.3103.6
107.6115.0120.1126.9150.2167.8182.7202.2216.0239.3
278.6319.2350.8370.3387.3
365.4364.6363.8363.6369.3373.6
375.5375.1376.4374.4371.3370.6
376.0383.0380.1380.9385.5390.0
393.9395.5397.0392.4387.5386.0
91.390.989.989.991.992.393.1
93.893.793.894.695.095.397.0
100.0103.8107.7
111.5115.7118.3121.6135.3151.0160.1167.5177.7190.3205.4221.3233.2238.5242.5
235.8236.7237.6239.0238.4238.6
238.9238.0238.9239.4239.9240.5
240.4240.4241.2242.3242.4242.3
241.9242.2244.1244.3244.2244.2
67.578.283.380.1
79.086.185.384.684.584.185.887.387.588.2
89.690.490.991.992.793.796.1
100.0105.4111.5
116.1119.8122.3126.8136.2142.3147.6154.2159.6166.6
178.4186.9191.8196.5200.2
191.0192.0194.5195.5196.1195.6
195.0197.3200.4200.7200.7199.3
196.4196.2198.8199.2198.9197.4
196.6200.1204.2205.7205.2203.2
50.355.561.866.4
68.272.577.379.578.377.478.883.386.089.6
89.690.692.593.094.395.997.2
100.0103.2107.2
112.7118.6119.9123.8137.7150.6165.5177.2185.5212.0
249.7280.0291.5298.4311.7
293.0289.9287.4292.3296.2298.3
300.4302.4303.7305.0306.3306.3
306.0305.8306.9309.6312.2313.1
312.9312.9313.7315.5316.1 i315.8
44.448.151.152.7
53.756.359.361.463.464.867.269.973.276.4
79.181.483.585.687.389.593.4
100.0106.1113.4
120.6128.4132.5137.7150.5168.6184.7202.4219.4239.7
265.9254.5328.7357.3379.5
347.8351.3352.3353.5354.3355.4
357.7360.0361.2362.9364.9366.2
369.5373.2374.5375.7376.8378.0
380.3381.9383.1385.5387.5388.5
100.0105.7111.0
116.7122.9126.5130.0139.8152.2159.8167.7176.6188.5
205.3221.4235.8246.0255.1
241.5243.1244.6244.6244.8245.4
246.0246.6247.5249.1249.5249.5
249.9251.5251.72538253.5254.5
255.3256.4257.3258.3259.0260.1
100.0105.2110.4
116.8122.4127.5132.5142.0153.9162.7172.2183.31967
214.5235.7259.9288.3307J
279.9281.6281.9283.2283.6284.5
287.5289.0294.4296.8298.1298.6
300.5301.5302.1302.8303.2304.4
306.5307.2314.6315.8316.5316.7
90.190.391.8
94.294.494.795.094.696.397.8
100.0101.5104.2
107.0111.2114.3123.5159.7176.6189.3207.3220.4275.9
361.1410.0416.1419.3423.6
414.5406.7399.9410.0421.3427.3
430.1429.8429.3425.1419.9418.0
416.7420.2418.1421.3426.1428.5
428.3427.3429.0426.7421.8418.9
1 Includes alcoholic beverages, not shown separately.2 Series beginning 1967 not comparable with series for earlier years.3 See tables B-53 and 8-54.Note.—Data beginning 1978 are for all 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. See Economic Report of the President February 1983 for homeownership costs as measured prior to 1983.
Source: Department of Labor, Bureau of Labor Statistics.
291Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-53.—Consumer price indexes, selected expenditure classes, 1946-84
[1967=100]
Year or month
Food and beverages
Total
Food
Total home
Awayfromhome
Shelter
Total
Renters' costs
TotalRent,resi-
dential
Home-owners'costs
Mainte-nanceand
Fuel and other utilities
Total
Household fuels
Total
Fuel oil,coal,and
bottled
Gas(piped)
andelec-
tricity
Otherutilities
andpublic
services
194619471948 !194919501951195219531954 ::::19551956195719581959....196019611962 '.1963196419651966. .1967196819691970197119721973197419751976197719781979198019811982198319841983:JanFebMar
JuneJulyAugSeptOctNovDec
1984:Jan....Feb....Mar..
June...July....Aug....Sept...Oct...,Nov...,Dec...,
100.0103.6108.8114.7118.3123.2139.5158.7172.1177.4188.0206.3228.5248.0267.3278.2284.4295.1
280.7281.6283.2284.6285.0284.7
284.7284,9285.3285.7285.3286.5
291.6294.2294.3294.5293.6294.3
295.3296.9296.4296.6296.3297.2
58.170.676.673.5
74.582.884.383.082.881.682.284.988.587.1
88.089.189.991.292.494.499.1
100.0103.6108.9
114.9118.4123.5141.4161.7175.4180.8192.2211.4234.5
254.6274.6285.7291.7302.9
288.1289.0290.5291.9292.4292.0292.0292.2292.6292.9292.5293.9
299.4302.1302.2302.3301.4302.0
303.2304.8304.2304.4304.1305.1
73.579.876.7
77.686.387.886.285.884.184.487,291.088.8
89.690.491.092.293.295.5
100.3100.0103.2108.2
113.7116.4121.6141.4162.4175.8179.5190.2210.2232.9
251.5269.9279.2282.2292.6
279.3280.3281.9283.4283.8283.0282.8282.5282.5282.3281.4283.0
290.2293.6293.1292.8290.7291.4
292.5294.4293.4293.4292.4293.2
59.261.165.168.0
68.970.170.872.274.977.279.3
81.483.285.487.388.990.995.1
100.0105.21U.6
119.9126.1131.1141.4159.4174.3186.1200.3218.4242.9
267.0291.0306.5319.9333.4
314.5315.2316.5318.0318.6319.3319.8321.0322.2323.9324.8325.5
327.2328.5329.8330.9332.6333.1
334.4335.5335.8336.6337.7339.2
76,578.279.180.483.485.186.0
87.888.589.690.792.293.896.8
100,0104.8113.3
123.6128.8134.5140.7154.4169.7179.0191.1210.4239.7
281.7314.7337.0344.8361.7
338.3339.2339.3341.7342.7343.6
345.3346.6348,5349.8351.1351.8
353.2354.0355.5357.8358.9360.2
362.7364.6366.5367.8368.9370.1
70.473.276.280.383.284.385.987.589.190.4
91.792.994.095.095.996.998.2
100.0102.4105.7
110.1115.2119.2124.3130.6137.3144.7153.5164.0176.0
191.6208.2
103.0108.6
100.8101.2101.4101.8102.2102.5
103.1103.7104.4104.8105.0105.1
105.7106.0106.5107.4107.8108.2
108.9109.6110.2110.7110.9111.3
224.0236.9249.3
232.2233.1233.6234.5235.1235.9237.1238.2239.5240.4241.3242.0
242.9243.6244.8246.4247.2248.4
249.7251.1252.4253.8254.8256.1
102.5107.3
100.7100.9100.9101.7102.0102.2
102.7103.0103.5103.9104.3104.5
104.9105.1105.6106.2106.5106.8
107.6108.1108.7109.1109.4109.8
71.272.474.177.280.581.883.2
84.685.986.587.789.591.395.2
100.0106.1115.0
124.0133.7140.7151.0171.6187.6199.6214.7233.0256.4
285.7314.4334.1346.3359.2
342.9339.4339.9343.6344.3345.1
346,1347.9346.6351.1353.4354.7
356.7353.5355.3356.3357.3358.9
360.3360.1362.7361.6362.9364.4
83.083.585.187.389.991.793.8
95.997.197.398.298.498.398.8
100.0101.3103.6
107.6115.0120.1126.9150.2167.8182.7202.2216.0239.3
278.6319.2350.8370.3387.3
365.4364.6363.8363.6369.3373.6
375.5375.1376.4374.4371.3370.6
376.0383.0380.1380.9385.5390.0
393.9395.5397.0392.4387.5386.0
100.0101.4103.4
107.9115.3120.1128.4160.7183.8202.3228.6247.4286.4
349.4407.0446.2469.2485.5
463.5461.5459.7459.2468.3475.2
477.7476.5478.3474.4468.1467.4
470.4479.6475.2476.0483.5490.7
496.5498.6500.1492.1482.6480.2
51.358.468.670.3
72.776.578.081.581.282.385.990.388.789.8
89.291.091.593.292.794.697.0
100.0103.1105.6
110.1117.5118.5136.0214.6235.3250.8283.4298.3403.1
556.0675.9667.9628.0641.8
671.1654.0625.3610.6621.0620.0
619.3619.0623.2624.7623.9623.9
642.8688.6660.0650.7649.2646.0
637.4625.5622.1626.8626.9625.9
77.477.179.181.0
81.281.582.684.285.387.588.489.392.494.7
98.699.499.499.499.499.499.6
100.0100.9102.8
107.3114,7120.5126.4145.8169.6189.0213.4232.6257.8
301.8345.9393.8428.7445.2
413.5414.5418.0420.5429.1437.4
440.5439.1440.5435.6428.2427.5
427.3429.0429.5432.3441.4450.6
459.1463.9466.4456.0444.7442.2
100.0101.2104.0
107.4114.7120.6124.1130.3137.1145,4152.0158.3159.5
165.2181.0200,2213.7230.2
210.1210.9211.4211.7212.5213.2
214.2214,8215.4215.8217.3216.5
224.6228.0227.4228.2228.8229.4
230.6231.3232.7232.9234.4234.1
See next page for continuation of table.
292Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-53.—Consumer price indexes, selected expenditure classes, 1946-84—Continued
[1967=100]
Year or month
1946194719481949
1950195119521953195419551956195719581959
I960196119621963196419651966196719681969
1970197119721973197419751976197719781979
19801981198219831984
1983:JanFeb . .MarAprMayJune
JulyAUESeptOctNovDec
1984:JanFebMarAprMayJune
JulvAugZZZZZOctNovDec
Transportation
Total
50 355.561.866.4
68.272.577.379 578.377.478.883.386.089.6
89.690.692.593.094.395.997.2
100.0103.2107.2
112.7118.6119.9123.8137.7150.6165.5177.2185 5212.0
2497280.0291.5298.4311.7
293 0289.9287 4292.3296.2298.3
300.4302.4303.730503063306.3
306.0305.8306 9309.6312.2313.1
312 9312.9313.7315.5316.1315.8
Private transportation
Total2
54361.568 272,3
72 575.880.882 480.378 980.184787.491.1
90.691.393.093494.796.397 5
100.0103 0106.5
1111116.6117.51215136.61498164.6176.6185 0212.3
249 2277.5287 5293.9306.6
288 4285 2282 7287.52917293.8
296.0298.0299.2300 43017301.8
300 9300 83019304.8307.4308.1
307 5307.53084310 2310 8310.4
Newcars
69.275.682.8
83.487.494.995.894.390.993.598.4
101.5105.9
104.5104.5104.1103.5103.2100.999.1
100.0102.8104.4
107.6112.0111.0111.1117.5127.6135.7142.9153.8166.0
179.3190.2197.6202.6208.5
201.0201.3201.2201.1201.6201.6
201.4202.1202.7204.3206.2207.0
207.2207.2207.2207.4207.6207.7
208.1208.1208.2209.6211.4212.0
Usedcars
89 275.971.869.177.480.289.5
83.686.994.896.0
100.199.497.0
100.0
104.3110.2110.5117.6122.6146.4167.9182.8186.5201.0
2081256.92964329.7375.7
31103091309 3312.7317.1322.7
329.6336.8343.935043561357.6
357.3357.23622370.0378.0382.0
383 2383.8384.2384.63836382.7
Motorfuel3
54962.270.472.3
71.873.975.880.382.583.686.590.088.889.9
92.591.491.991.891.494.997.0
100.0101.4104.7
105.6106.3107.6118.1159.9170.8177.9188.2196.3265.6
369.1410.9389.4376.4370.7
372-2359.7348 8367.6380.7385.9
389.0389.4387.0382.53783375.4
370.6369.43691374.3376.9375.2
3702366.6368.5370.9369.8366.4
Auto-mobilemainte-nanceand
repair
52.056.459.661.1
62.367.068.672.374.876.579.582.483.785.5
87.289.390.491.692.894.596.2
100.0105.5112.2
120.6129.2135.1142.2156.8176.6189.7203.7220.6242.6
268.3293.6315.8330.0341.5
324.4325.9326.6327.4328.7329.5
329.8331.0332.3333.5335.2335.4
336.1337.4338.3338.9340.2340.7
341.6342.7344.2345.3345.8346.2
Other
100.0103.4109.7
119.2128.4129.1127.8132.4141.2163.1177.3184.6198.6
222.6241.3257.8260.8273.3
259.9259.7259.2258.4258.7258.1
258.6260.0260.8263.3265.6266.8
267.6267.7268.3269.0270.4271.5
272.4274.9275.9278.7280.7282.3
Publictranspor-
tation
34.436.040.745.2
48.954.057.561.365.567.470.072.776.178.3
81.084.687.488.590.191.995.2
100.0104.6112.7
128.5137.7143.4144.8148.0158.6174.2182.4187.8200.3
251.6312.0346.0362.6385.2
357.7355.2354.5361.1359.2361.2
363.2365.0366.6368.2370.3369.0
378.2377.4377.4378.0380.7385.2
389.3390.8389.5391.13918392.8
Medical care
Total
44448.151152.7
53 756.359.361463.464867.269.973.276.4
79.181483,585687.389.593 4
100.0106.1113.4
1206128.4132.5137 7150.5168.6184.7202.42194239.7
265 9294.53287357.3379.5
347 83513352 3353.5354.3355.4
357.7360.0361.2362 93649366.2
369.53732374 53757376.8378.0
380 3381.9383.1385.5387.5388.5
Medicalcarecom-
modities
76 281886187.4
88 591.091892 693.794 796.7993
102,81044
104.51033101.71008100.5100 21005100.0100 2101.3
103 6105.4105.6105 9109.61188126.0134.11435153.8
1681186.52057223.3239.7
215 3216 72186221.2222.5223.2
224.2225.4226.3227 52289229.9
2312232 9235 0236.9238.7239.4
240 7241.6242.4244.1245 6247.3
Medi-cal
careserv-ices
40143 546448.1
49 251.755 057 058760462.865568.772 0
74.977 780.282684.687 3920
1000107 3116.0
124 2133.31382144 3159.11791197.1216.7235 4258.3
287 4318.23560387.0410.3
377 43815382 2382.8383.5384.6
387.2389.8391039293950396.3
400 2404 44053406.3407.1408.4
4109412,7413.9416.5418 5419.3
1 Includes alcoholic beverages, not shown separately.2 Includes direct pricing of new trucks and motorcycles, beginning September 1982.3 Includes direct pricing of diesel fuel and gasohol beginning September 1981.* Not available.Note.—Data beginning 1978 are for all urban consumers,- earlier data are for urban wage earners and clerical workers.See also Note, Table B-52.
Source: Department of Labor, Bureau of Labor Statistics.
293
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-54.—Consumer price indexes, commodities, services, and special groups, 1940-84
[1967=100]
Year ormonth
19401941194219431944194519461947.;19481949
1950195119521953195419551956195719581959
1960196119621963 ...196419651966196719681969
1970197119721973197419751976197719781979
19801981198219831984
1983:JanFebMar
JuneJulyAugSeptOct.NovDec
1984:JanFebMar
MayJuneJulyAugSeptOct.NovDec
Allitems
42 044148.851852.753 958 566.972171.4
72,177.879 580*. 1
80281.484.386.687.388.789.690.691.792.994.597.2
100.0104.2109.8116.3121.3125.3133.1147.71612170.5181.519542174
246.82724289.12984311.1
293,1293 22934295.5297.1298.1299.3300.3301.8302.6303.1303.5
305.2306.6307,3308.8309.7310.7311.7313.0314.5315.3315.3315.5
Commodities
Allcom-
modities
40643.349.654054.756362.475.080 478.3
78.885.987 086785.985185.988.690.690.7
91.592.092.893 694.695.798.2
100.0103.71084
113.51174120.9129.9145.515841652174.7187 1208.4
233.9253.6263.8271.5280.7
267.2266 7266.7269.2270.9271.6272.5273.4274.5275.0275.2275.5
276.8278.3278.7280.1280.4280.6280.6281.4282.3283.1283.0282.8
Food
35238.445,150349.650 758.170.676 673.5
74 582.884 383.082.881682.284.988.587.1
88.089.189.991292.494499.1
100.0103.6108.9
114.9118 4123.51414161.717541808192.22114234.5
254.6274.6285.7291.7302.9
288.1289 0290.5291.92924292.0292.0292.2292.6292.9292.5293.9
299,4302.1302.2302.33014302.0303.2304.8304.2304.4304.1305.1
Commodities less food
All
48 050456.058461.664168.176,882 781.5
81487.588 388587.586987.890.591.592.7
93.193.494.194 895.696.297.5
100.0103.7108.1
112.51168119.4123 5136.61491156 6165.1174 7195*1
222 0241.2250.9259.0267.0
254.4253 22524255.4257.6258.9260.22614262.9263.6264.1263.8
263 0263.8264.4266.52674267.4266.8267.1268.8269.8269.9269.2
Durable
48.151458460.365.970.974180*386.2874
88.495.196495 793*391.591.594.495.997.3
96.796.697.697.998.898,498.5
100.0103.1107.0
111.8116.5118.9121.9130.6145 5154*3163.2173 9191*1
2104227.1241.1253.0266.5
247.324712474248.7249.5251.2252.9254.32564258.7261.0261.8
261.4260.9262.2265.2267.0267.8267.8267.82687269.3270.0269.8
Non-durable
44.746751.653.856.658.662972.277.876.3
76.282.082483,183.583.585.387.688.289.3
90791.291.892.793.594.897.0
100.0104.1108.8
113.1117 0119.8124.8140.915171583166.5174 31987
2352257.5261.6266.3270.8
2624260 525819263.0266.3267.32684269.6270.6270.2269.5268.5
267 4269.1269.3270.7271.1270.5269.5270.0272.3273.6273.3272.2
Services
Allservices
43.644 245.646447.548.249151.154.356.9
58.761.864 567*369.570972.775.678.580.8
83.585.286.888.590.292.295.8
100.0105.2112.5
121.61284133.3139.1152.116661804194.3210 9234*2
27033057333.3344.9363.0
337.9338 93394341.2342.6344.0345.6346.8349.0350.2351.0351.6
353 9355.3356.5358.1359.9361.9364.5366.5368.93697369.9370.6
UaAiMeat-
catcareserv-ices
32.532.733.735436.937.940.143.546.448.1
49.251755 057.058.760.462.865.568772.0
74.977.780.282.684.687.392.0
100.0107.3116.0
124.2133.3138,2144.3159.11791197121672354258*3
287 4318*2356.0387.0410.3
3774
3822382:8383.5384.6387.2389.8391.0392.9395.0396.3
400 2404.4405.3406.3407.1408.4410.94127413.9416.5418.5419.3
Serv-icesless
medi-cal
care
77.680.482.5
85.286788.189.691.293.2964
100.0104.9112.0
121.3127 7132.6138.3151.01647177 7190.62069230*1
266 6302.2328.6338.1355.6
331.4332 23327334.5336.03374338.9339.9342.2343.3344.1344.5
3466347.8349.0350.6352.5354.5357.1359.2361.7362.3362.3363.0
Special indexes
Allitemslessfood
47.348.752.153.655.756.959.464.969.670.3
71.175777 579.079.579.781.183.885787.3
88.889.790.892.093.294.596.7
100.01044110.1
1167122.1125.8130.7143.71571167.5178.41912213*0
244.0270.62884298.3311.3
292.6
2924
296^297.8299.3300.5302.3303.2303.9304.0
304 8305.9306.8308.6310.0311.0312.0313.2315.2316.1316.2316.2
Allitemsless
energy
83.986.387.0
88389.390491692.994.397.3
100.0104.4110.3
117.01220126.1133 8146.9160.2169 2179.8193 8213*1
23802617279.3289.3302.9
283.8284 7285:6287.0287.6288.2289.2290.3292.1293.4294.4295.0
2970298^299.2300.5301.1301.9303.1304.6306.1307.1307.7308.2
Allitemslessfoodand
ener-gy
83.385.287.0
88.389.390.591693.094.396.6
100.0104.61107
117.61231126.91313142*21553165*5175.8188 7207*0
2328257,1276.1287.0301.2
281.1282 0282:6284.02847285.5286.8288.2290.2291.8293.2293.6
294 6295*52967298.3299.3300.2301.3302.8304.9306.1306.9307.3
Ener-g y 1
90.190.391.8
94.294494795 094.696.397.8
100.0101.5104,2
107.01112114.3123 5159.7176.61893207.32204275*9
3611410*0416.1419.3423.6
414.5406 739^9410.0421.3427.3430.1429.8429.3425.1419.9418.0
416 7420*2418.1421.3426.1428.5428.3427.3429.0426.7421.8418.9
1 Fuel oil, coal, and bottled gas; gas (piped) and electricity; and motor fuel. Motor oil, coolant, etc. also included through 1982.Note.—Oata beginning 1978 are for all urban consumers; earlier data are for urban wage earners and clerical workers.See also Note, Table 6-52.Source: Department of Labor, Bureau of Labor Statistics.
294Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-55.—Changes in special consumer price indexes, 1958-^84
[Percent change]
Year or month
19581959
I9601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1983:JanFebMarAprMayJuneJulyAugSeptOctNovDec
1984:JanFebMarAprMayJuneJulyAugSeptOctNovDec
All items
Dec.to
Dec 1
181.51.5
71.2161.2193.4304.76.15.5343.48.8
12.270486.890
13.3
12.4893.9384.0
Yearto
year
27.8
1.6101.1121.3172.9294.25.4
5.9433.36.2
11.0
915.86.577
11.3
13.51046.1324.3
All items lessfood
Dec.to
Dec.1
162.31.01.11.21.61.01.63.33.54.95.7
6.53.13.05.6
12.2
7.16.26.38.5
14.0
12.99.94.04.14.0
Yearto
year
231.91.7101.21.31.3142.3344.45.5
6.04.63.03.99.9
936.66.57.2
11.4
14.610.96.63.44.4
All items lessenergy
Dec.to
Dec*
1.91.41.4
.81.21.81.31.93.53.14.96.4
5.63.33.58.3
11.5
6.74.66.89.2
11.1
11.78.64.24.44.5
Yearto
year
29.8
1.51.11.21.31.41.53.22.84.45.7
6.14.33.46.19.8
9.15.66.37.8
10.0
11.710.06.73.64.7
All items lessfood andenergy
Decto
Dec1
1.82.2
.81.51.11,81.2L53.33.95.16.1
6.63.13.04.7
11.3
6.76.16.48.5
11.3
12.19.64.54.94.7
Yearto
year
232.11.5111.3121.5142.4354.65,8
6.24.73.13.58.3
9 26.66.27.39.7
12.510.47.43.94.9
All items less food,energy, and shelter
Decto
Dec1
4.65.0
5.7322.63.5
11.3
647.05.2657.2
9.9946.1504.4
Yearto
year
464.8
51492.43.07.6
89706.0576.9
8.8957.7525.0
Change from preceding month
Unad-justed
0.2.01
5
.435
.2
.1
.65.2.5.3.3
.345.3
0.1
Sea-sonally
ad-justed
0.3- . 1
1
'4.2.444,4.4.2
.64.2.5.2
.354.42
.2
Unad-justed
0.20
.8
.6
.5
.46
.2
.0
.3
.4
.3
.6
.5
.3
.46.3.0
0
Sea-sonally
ad-justed
0.3- . 1- 0
.85.3
.5
.44
.4
.4
.2
.4
.3
.6
.3
.2
.3
.44.4.2.2
Unad-justed
0.5
!3
\l.2
.3
.4
.6
.3
.2
.7
.4
.3
2
.4
.5
*2
Sea-sonally
ad-justed
0.5.3.2.5.2.2
.4
.44.5.4.3
.7
.4
.3
2.3
.4
.5
.3
.4
.2
.3
Unad-justed
0.4
.2
.5
.2
.5
.5
.7
.6
.1
.3
.4
.5
.3
.4
.7
.3
.1
Sea-sonally
ad-justed
0.5.3.2.5.2.3
.5
.5
.5
.4
.5
.3
.5
.3
.4
.5
.3
.3
.4
.5
.4
.3
3
Unad-justed
0.3.44
.4
.3
.4
.58
.6
.3
.5
.5
.'3
.3
7.4.3
0
Sea-sonally
ad-justed
0.5.4.3.4.2
.5
.5
.5
.3
.6
.3
.5
.3
.3
.44
\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-52.Source: Department of Labor, Bureau of Labor Statistics.
295Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-56.—Changes in consumer price indexes, 1929-84
{Percent change]
Year
192919331939194019411942 ".'."..19431944;;;;.19451946194719481949195019511952!"!!19531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984
All items
Dec.to
Dec.1
0.25
—.51.0979.3322.12.3
18.29.02.7
- 1 . 85.859.9.6
- .5.4
2.93.01.81.51.5.7
1.21.61.21.93.43.04.76.15.53.43.48.8
12.27.04.86.89.0
13.312.48.93.93.84.0
Yearto
year
o51
- 1 . 41.050
10761172.38.5
14.47.8
- 1 . 01.0792.1.8.5
- .41.53.62.7.8
1.61.01.11.21.31.72.92.94.25.45.94.33.36.2
11.09.15.86.577
11.313.510.4
y4.3
Commodities
Total
Dec.to
Dec.1
- 1 . 01.2
13 513.0402.22.9
24.910.41.7
- 4 . 1775.9
_ 7-.S
- 1 . 4
2.S2.61.3.6
1.101.01.4.8
1.62.52.53.85.54.02.93.4
10.412.76.33.36.18.9
13.011.16.0
U2.6
Yearto
year
- 2 . 01067
14.5891.32.9
10.820.27.2
- 2 . 6.6
901.3
~!9- .9
.93.12.3.1.9.5.9.9
1.11.22.61.83.74.54.73.43.07.4
12.08.94.35.87.1
11.412.28.44.02.93.4
Food
Dec.to
Dec.1
2,370
- 2 . 52,6
16.417.531.2
3.031.511.2
- 0 . 8- 3 . 7
9.674
- 1 . 1- 1 . 3- 1 . 6- .93.12.82.2
- .83.1
- .91.51.91.43.43.91.24.37.22.24.34.7
20.112.26.5.6
8.011.810.210.24.33.12.63.8
Yearto
year
1.329
- 2 . 81791
17.4115
- 1 . 42.2
14.621.58.5
- 4 . 01.4
1111.8
- 1 . 5- .2
- 1 . 4
3 34.2
- 1 . 61.01.3.9
1.41.32.25.0.9
3.65.15.53.04.3
14.514.48.53.16.3
10.010.98.67.94.02.13.8
Commoditiestess food
Dec.to
Dec.*
0.2.4
10.86.45.45.03.0
12.99.15.3
- 4 . 85.746~:s.2
- 1 . 402.52.2.8
1.5- .3
.67
1,2,4.7
1.93.13.74.54.82.32.55.0
13.26.25.14.97.7
14.311.56.73.83.12.0
Yearto
year
- 1 . 6.6
5011.14.35.54.16.2
12.87.7
- 1 . 5- .175.9.2
- 1 . 1- 71.03.11.11.3.4.3.77.8.6
1.42.63.74.24.13.82.23.4
10.69.25.05.45.8
11.713.88.64.03.23.1
Services
Total
Dec.to
Dec.1
0.27
2.52.02.61.71.03.55.26.13.63.65,24.64.21.92.33.14.52.73.72.71.9172,31.82.64.94.06.17.48.24.13.66.2
11.38.17.37.99.3
13.714.213.04.34.85.4
Yearto
year
0.2.2
1.43.21.82.41.51.94.16.34.83.25.34.44.33.32.02.54.03.82.93.32.01.92.01.92.23.94.45.26.98.15.63.84.49.39.58.37.78.5
11.015.413.19.03.55.2
Medical careservices
Dec.to
Dec.1
0,30153.9582.82.98.96.57.02.13.3585.53.62.63.24.14.54.94.63.83.53.02.62.63.58.17.97.47.08.35.33.85.8
13.310.31079.09.2
10.610.012711.26.15.8
Yearto
Year
0.30.6
3.15,042275885673723516.43.63.02.94.04.34.94.84.0373.23.02.43.25.4877.38.17.17.33.74.4
10.312.610.19.98.697
11.310711.9876.0
Energy*
Dec.to
Dec.1
- 0 74.315
- 4 12.1
- .8— .22.01.81.4173,14.53.12.8
16.821.611.66.97.28.0
37.418.111.91.3
Yearto
year
...
0.2172,6.2.3
-A1.81.62.21.527273.92.88.0
29.310.67.29.56.3
25.230.913.51,5.8
1.01 Changes from December to December are based on unadjusted indexes,* Fuel oil, coal, and bottled gas; gas (piped) and electricity; 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-52.Source; Department of Labor, Bureau of Labor Statistics.
296
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-57.—Producer price indexes by stage of processing, 1947-84
[1967 = 100]
Year or month
1947 ;,1948.... V.1949
19501951195219531954
19551956195719581959
I9601961196219631964
19651966196719681969
19701971 . . . .1972.19731974
19751976197719781979
19801981198219831984 l
1983:JanFebMarAprMayJune
JulyAugSeptOctNovDec
1984: *JanFebMarAprIVfayJune
JulyAugiziz.:::::;.:::::::SeptOctNovDec
Finished goods
Totalfinishedgoods
74.079 977.6
79 086586085185.3
85.587991.193.293.0
93 793.794 093.794.1
95798.8100.0102.8106.6
110 3113.7117.2127.9147.5163.417061817195.9217.7
247 0269.8280 7285.2291.2
283 92841283.4283.1284 2285.0
285.7286.12851287 6286 8287.2
289 5290 62914291.2291.1290.9
292 3291.3289.8291.6292 3292.4
Consumer foods
Total
82.890.483.1
84795.294 389488.7
86.586389.394.590.1
92191.792 591.491.9
95 4101.6100.0103.6110.0
113 5115.3121.7146.4166.9
181.018041899207.2226.2
239 5253.6259 3261.8273.5
258 42610261.1262.9262 6261.2
260.7260.7263 0263 72619264.3
272 2274 7276 6274.3271.7270.8
275 3274.0273.4271.8272 3274.4
Crude
99.4107.1101.3
92 2105.9112 8105.294.7
98.898 797.4103.594.3
100.696.197 095.598.2
98 6104.8100.0107.5116.0
116.3115.8121.2160.7180.8
181.219392010216.8233.1
237 2263.8252.7258.7283.9
232 9240 8247.9265.8267.2251.2
247.1259.9267.4287 3270 4266.0
306.9313 6323 7299.0270.7258.9
270 8274.6274.7277.2265.5270.8
Proc-essed
80.287680.1
83493.291386 787.6
84.484 387.993.189.5
90790.991790.790.8
94 9101.0100.0103.0108.9
1131115.1121.7143.9164.6
181.3177 8187 3204 6223.8
237 8250.6257 7260.0270.3
258 5260 7260.1260.52601260.0
259.8258.7260 5259 52590262.0
266 9269 0270 2269.9269.6269.7
273 4271.7271.0269.1270 7272.5
Finished goods excluding consumer foods
Total
100.0102.6105.4
1091113.1115.4120.1139.3
156.21661177 71907213.3
247 8273.3285 8290.8294.8
290 3289 6288.7287.7289 3290.8
291.8292.5290.3293 4293 0292.6
292.9293 6294 0294.6295.3295.4
295 7294.8292.9295.92967296.1
Consumer goods
Total
79.084 082.2
83589 588389189.4
90.192 394.694.795.9
96 396.296 096.095.9
96 698.11O0.0102.1104.6
107 7111.4113.5118.6138.6
153.1162 6174 3186 7211.5
250 8276.5287 8291.4294.1
2914290 3288.9287.3289 4291.6
292.8293.52914293 9293 2292.5
292 52931293 6293.5294.9294.9
295 0293.8291.9294.8295 7294.9
Durable
74.679 781.8
82 788.288989690.3
91.294397.198.499.6
99 298.898 397.898.2
97 998.5100.0102.2104.0
106 9110.8113.3115.4125.9
138.2144 5152 8166,9183.2
206 2218.6226 7233.1236.6
2317232 9231.9232.2232 9233.1
233.4233.8229.2235.3235 4235.9
235.9236.1236 6236.7236.6236.4
236 6236.7232.5237.9238.4238.8
Non-durable
80.785.882.3
83 690.087 888.688.9
89.491.193.292.694.0
94.794.794.895.194.8
95997,8100.0102.2105.0
108.3111.7113.6120.5146.8
163.0174.8189 3200.0231.3
283.9319.6333.6335.3337.4
336 6333.7332.0328.7332.0335.7
337.7338.6338.6338.1336.8335.2
335.0336.1336.7336.4338.9339.2
339.2336.9336.9337.7339.1337.2
Capitalequipment
55.460.463.4
64 971.272473.674.5
76.782.487.589.891.5
91.791.892.292.493.3
94.496.8100.0103.5106.9
112.0116.6119.5123.5141.0
162.5173.4184.6199.2216.5
239.8264.3279.4287.2294.1
285.2285.6285.6286.2286.5286.7
287.2287.7285.1289.9290.0290.4
291.6292.3292.3294.5293.9293.9
294.6294.6292.9296.0296.3296.4
finishedconsumergoods
80.586 582.5
83991890 789 289.1
88.589 892.494.493.6
94 594.394 694.194.3
96199.4100.0102.7106.6
109.9112.9116.6129.2149.3163.6169.7180.7194.9217.9
248.9271.3281.0284.6290.4
283 5283.7282.7282.3283.6284.6
285.2285.7285.1287.0285.9286.3
288.9290.1291.1290.3290.3290.1
291.6290.4288.9290.3291.2291.3
See next page for continuation of table.
297
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-57.—Producer price indexes by stage of processing, 1947-84—Continued
[1967=100]
Year or month
Intermediate materials, supplies, and components
TotalFoodsand
feeds3Other
Materials andcomponents
Formanufac-
turing
Forcon-
struction
Proc-essedfuelsand
lubri-cants
Con-tainers Supplies
Crude materials for further processing
Total
Food-stuffsand
feed-stuffs
Other
Total Fuel Other
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984»...
1983:Jan....Feb....Mar...
May"!!June..
July....Aug...Sept..OctNovDec
1984: »JanFebMar....
May";;;;June...
JulyAug....Sept...OctNovDec
72.478.375.2
78.688.185.586.086.5
88.192.094.194.395.6
95.695.094.995,295.5
96.899.2
100.0102.3105.8
109.9114.1118.7131.6162.9
180.0189.1201.5215.6243.2
280.3306.0310.4312.3320.0
309.2309.9309.5308.7309.-7311.3
312.8314.0315.5315.6315.5315.7
316.3317.6319.7320.3320.9321.6
321.7321.1320.3319.9320.5319.8
100.099.4
102.7
109.1111.7118.5168.4200.2
195.3185.3190.5203.1226.1
252.6250.3239.4247.9253.1
236.4238.8238.0243.6244.4242.8
244.0250.9263.2258.2257.4256.9
260.7255.1257.5259.1260.8257.8
255.3251.4248.0243.8244.1243.1
70.076.174.2
77.787.084.385.385.7
88.392.695.094.896.4
96.895.595.395.095.6
96.998.9
100.0102.5106.1
109.9114.3118.9128.1159.5
178.6189.4202.3216.5244.4
282.3310.1315.7317.1325.0
314.6315.2314.8313.6314.6316.4
318.0318.7319.5320.0319.9320.2
320.6322.3324.4325.0325.4326.4
326.7326.3325.7325.6326.1325.5
72.177.874.5
78.188.584.886.286.3
92.694.895.296.5
96.595.394.794.995.9
97.499.3
100.0102.2105.8
110.0112.8117.0127.7162.2
178.7185.4195.4208.7234.4
265.7286.1289.8293.4301.8
288.6291.1290.2291.0291.9292.4
294.1294.7296.7296.4296.5297.6
298.9299.8301.8302.9303.3303.4
303.2302.5301.7301.2301.8301.1
66.073.173.2
77.084.383.785.185.5
88.993.594.094.096.6
95.994.694.294.595.4
96.298.8
100.0105.0110.8
112.6119.7126.2136.7161.6
176.4188.4203.4224.7247.4
268.3287.6293.7301.8310.3
296.5298.8299.6300.9301.2302.4
302.9303.7303.1303.6303.9304.9
305.5307.8309.6310.5309.8310.3
310.9312.0311.3311.6311.6312.3
85.596.988.2
89.993.992.893.493.3
93.396.2
101.996.095.6
98.299.499.098.196.0
97.499.2
100.097.698.5
105.0115.2118.9131.5199.1
233.0250.1282.5295.3364.8
503.0595.4591.7564.8566.3
577.9565.4564.2543.3547.8562.0
567.9572.0573.2574.2568.1561.7
556.4561.3567.8562.9567.2575.2
576.6569.2567.6564.2566.2561.1
66.869.870.1
72.084.579.980.081.5
82.688.692.594.794.2
95.594.795.994.794.0
95.898.4
100.0102.4106.3
111.4116.6121.9129.2152.2
171.4180.2188.3202.8226.8
254.5276.1285.6286.6302.1
285.0285.3285.2284.8285.8285.9
286.1286.3287.2288.1289.3289.9
292.3294.8297.3299.4300.9301.8
303.0304.1304.7307.9309.4309.3
77.581.076.3
78.988.888.884.386.3
84.887.188.090.091.2
90.791.893.895.294.3
95.299.4
100.0101.0102.8
108.0111.0115.6140.6154.5
168.1179.01887198.5218.2
244.5263.8272.1277.1283.3
273.1273.5273.9275.5275.6275.6
276.2277.9280.2280.6281.6281.6
282.6282.2283.0284.2284.3283.9
283.2284.1283.3283.1283.1283.1
101.2110.996.0
104.6120.1110.3101.9101.0
97.197.699.8
102.099.4
97.096.597.595.494.5
99.3105.7100.0101.6108.4
112.3115.1127.6174.0196.1
196.9202.7209.2234.4274.3
304.6329.0319.5323.6331.0
313.9320.2321.6325.8325.8323.3
320.6327.1328.5324.8324.0327.5
333.5332.6338.8339.4338.0333.0
334.1328.9326.7320.0323.7323.1
111.7120.8100.3
107.6124.5117.2104.9104.9
95.193.197.2
103.096.2
95.193.895.792.990.8
97.1105.9100.0101.3109.3
112.0114.2127.5180.0189.4
191.8190.2192.1216.2247.9
259.2257.4247.8252.2259.7
239.6249.3249.1256.8258.5252.1
248.4256,4257.2253.7251.8256.0
264.0260.5269.9269.7266.4260.3
263.6256.5253.1245.5253.4253.7
100.0102.2106.8
112.7117.0128.0162.5208.9
206.9228.5245.0272.3330.0
401.0482.3473.9477.4484.7
473.6473.0477.7474.6475.4476.8
476.2479.6482.5478.2479.4481.6
483.4488.1487.5490.1492.3489.6
486.4485.0485.1480.2475.4473.0
66.678.778.3
77.979.479.982.779.0
78.884.489.290.391.9
92.892.692.193.292.8
93.596.3
100.0102.3106.6
122.6139.0148.7164.5219.4
271.5305.3372.1426.8507.6
615.0751.2886.1931.5931.4
930.79377961.8941.6935.99367
927.8926.9931.0910.9915.3921.1
926.1926.6910.6920.8928.4932.6
940.2953.1938.8935.0934.1930.9
90.6100.791.6
10471207104.6100.198.2
103.8107.6106.2102.2105.8
101.4102.5102.0100.7102.4
104.5106.7100.0102.1106.9
109.8110.7121.9161.5205.4
188.3206.7212.2233.1284.5
346.1413.7376.8372.2380.6
368.0366.0366.8367.0369.0370.5
371.6375.6378.1377.1377.7379.1
380.1385.5387.8388.8389.9386.1
380.9376.8379.8374.8369.4367.2
1 Data have been revised through August 1984 to reflect the availability of late reports and corrections by respondents. All data aresubject to revision 4 months after original publication.
2 Intermediate materials for food manufacturing and feeds.Source: Department of Labor, Bureau of Labor Statistics.
298Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-58.—Producer price indexes by stage of processing, special groups, 1974-84
[1967 = 100]
Year or month
197419751976197719781979
19801981198219831984 2
1983:JanFebMar
June
JulyAugSeptOctNovDec
1984: ^JanFebMar.
JulyAugSeptOctNovDec
Finished goods
Total
147.5163.4170.6181.7195.9217.7
247.0269.8280.7285.2291.2
283.9284.1283.4283.1284.2285.0
285.7286.1285.1287.6286.8287.2
289.5290.6291.4291.2291.1290.9
292.3291.3289.8291.6292.3292.4
Foods
166.9181.0180.4189.9207.2226.2
239:5253.6259.3261.8273.5
258.4261.0261.1262.9262.6261.2
260.7260.7263.0263.7261.9264.3
272.2274.7276.6274.3271.7270.8
275.3274.0273.4271.8272.3274.4
Ener-gy
215.2252.4282.3326.7347.7469.9
701.3835.4822.9783.6750.8
811.1788.0774.1749.2769.0791.1
794.1797.6795.7788.5777.4767.6
753.8757.3757.9751.1762.7764.8
755.6741.0737.1745.0747.4736.4
Excluding foods andenergy
Total
133.3148.5156.8166.3178.7194.7
216.4235.1248.6256.1262.3
253.8254.5254.4254.9255.3255.6
256.5256.9254.7258.5258.7258.9
260.1260.6261.0262.0262.1262.0
262.8262.9261.2263.8264.5264.5
Cap-ital
equip-ment
141.0162.5173.4184.6199.2216.5
239.8264.3279.4287.2294.1
285.2285.6285.6286.2286.5286.7
287.2287.7285.1289.9290.0290.4
291.6292.3292.3294.5293.9293.9
294.6294.6292.9296.0296.3296.4
Con-sumergoodsexclud-
ingfoodsand
energy
129.1141.0148.1156.6168.0183.3
204.2220.1232.6239.9245.8
237.5238.5238.2238.7239.2239.5
240.5240.9238.9242.2242.5242.7
243.8244.2244.7245.2245.6245.5
246.4246.4244.8247.2247.9248.0
Intermediate materials, supplies,and components
Total
162.9180.0189.1201.5215.6243.2
280.3306.0310.4312.3320.0
309.2309.9309.5308.7309.7311.3
312.8314.0315.5315.6315.5315.7
316.3317.6319.7320.3320.9321.6
321.7321.1320.3319.9320.5319.8
Foodsand
feeds1
200.2195.3185.3190.5203.1226.1.
252.6250.3239.4247.9253.1
236.4238.8238.0243.6244.4242.8
244.0250.9263.2258.2257.4256.9
260.7255.1257.5259.1260.8257.8
255.3251.4248.0243.8244.1243.1
Ener-gy
188.7220.8236.8267.3280.3348.6
484.9573.6570.8543.9545.2
556.8545.3543.7524.3528.0541.0
546.4550.1551.4552.1546.7540.9
536.2540.8546.7542.2546.2553.5
554.5547.7546.5543.3544.9540.2
Other
156.7174.7185.0196.1210.4234.2
261.8283.4290.1294.8303.5
290.5292.4292.3293.1293.7294.3
295.4295.8296.6297.1297.6298.6
299.5301.0302.7303.8303.9304.2
304.4304.8304.2304.4304.9304.6
Crude materials for furtherprocessing
Total
196.1196.9202.7209.2234.4274.3
304.6329.0319.5323.6331.0
313.9320.2321.6325.8325.8323.3
320.6327.1328.5324.8324.0327.5
333.5332.6338.8339.4338.0333.0
334.1328.9326.7320.0323.7323.1
Food-stuffsand
feed-stuffs
189.4191.8190.2192.1216.2247.9
259.2257.4247.8252.2259.7
239.6249.3249.1256.8256.5252.1
248.4256.4257.2253.7251.8256.0
264.0260.5269.9269.7266.4260.3
263.6256.5253.1245.5253.4253.7
Ener-gy
223.0266.9283.1323.5362.5439.9
586.1783.4801.5791.1785.6
812.1799.9801.6793.3790.9791.1
786.3785.8787.8779.7781.6783.3
786.0786.4780.1783.1786.4787.7
790.5795.0789.7787.0779.9775.4
Other
198.3165.0191.0190.1209.2253.0
269.4266.0238.1250.7266.1
230.7237.8244.3244.7247.5249.7
251.9257.7261.1259.5260.2262.7
263.7271.1274.3276.4277.8272.8
265.6260.4264.1257.9254.8253.9
1 Intermediate materials for food manufacturing and feeds.2 Data have been revised through August 1984 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.
299Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-59.—Producer price indexes for major commodity groups, 1947-84[1967=100]
Year or month
1947194819491950195119521953195419551956195719581959I9601961196219631964196519661967196819691970 . ..19711972197319741975197619771978197919801981198219831984 2
1983:JanFebMarAprMayJuneJuryAugIZZZZIZr'7 \.ZSeptOct .NovDec ,
1984:a
JanFebMarAprMayZZZ........ V.June ,JulyAugSeptOct . . .NovDec
Farm products and processedfoods and feeds
Total
94.3101.589.693.9
106.9102.796.095.791.290.693.798.193.593.793.794.793.893.297.1
103.5100.0102.4108.0111.7113.9122.4159.1177.4184.2183.1188.8206.6229.8244.7251.5248.9253.9262.6
245.8250.4250.6254.7254.7252.5251.5255.5259,1257.5256.0257.9
264.4263.4267.9267.3265.8262.8264.9261.4259.6255.8258.4259.2
Farmproducts
109.4117.5101.6106.7124.2117.2106 2104798 296.999.5
103.997.597.296.398.096094.698.7
105.9100.0102.5109.11110112.9125.0176.3187.7186.7191.0192.5212 5241,4249.4254.9242.4248.2255.7
233.2240.7241.5250.5250.4247.4244.3253.5256.4255.2251.0254.0
263.4261.6267.4265.4260.8257.1258.7253.3249.7240.1245.5245.7
Processedfoods and
feeds
82.988.780.683.492.791.687.488.985.084.987.491.889.489.591.091.992.592.395.5
101.2100.0102.2107.3112.1114.5120.8148.1170.9182.6178.0186.1202.6222.5241.2248.7251.5255.9265.3
251.7254.7254.5256.0256.1254.3254.4255.5259.6257.8257.6259.0
263.8263.4267.1267.2267.5264.8267.3264.8264.0263.3264.4265.5
Industrial commodities
Total
70.876.975.378.086.184.184.885.086.990.893.393.695.395.394.894.894 795.296.498.5
100.0102.5106.01100114.1117.9125.9153.8171.5182.4195.12094236.5274 8304.1312.3315.7322.6
313.9313.9313 5312.4313.6315.3316.5317.3317.1318.5318.3318.4
319.13206321.9322.6323.2323.8323.9323.3322.3323.2323.8323.0
Textileproducts
andapparel
103.6108.198.9
102.7114.6103.4100.898.698.798.798.897.098.499.597.798.698.599.299.8
100.1100.0103.7106.0107.1109.0113.6123.8139.1137.9148.2154.01598168.7183 5199.7204.6205.1209.9
202.7202.62034203.5204.3204.7205.3206.0206.2207.0207.7207.8
208.2209 6209.9209.9210.5210.2210.5210.1210.6209.6210.0209.8
Hides,skins,
leather,and
relatedproducts
83.384.279.986.399.180.181.377.677.381.982.082.994.290.891.792.790 090.394.3
103.4100.0103 2108.911031141131.31431145.11485167.8179.32000252.4248 9260.9262.6271.1286.5
266.7264.3264 9267.4269.4271.2272.3274.7274.4273.7277.0277.3
279.1283 3286.7286.8288.5290.1288.9288.7290.3288.9283.2282.9
Fuels andrelated
products,and
power *
76.990.586.287.190.390.192.691.391.294.099.195.395.396.197.296.796 393.795.597.8
100.098.9
100.91062115.2118.6134 3208.32451265.6302.2322 5408.1574 0694.5693.2664.7657.0
683.6668.6658 0644.8651.9665.5668.7671.7672.3669.5663.7658.0
652.1656 0658.7654.7660.6665.9665.0657.9654.8654.5655.3648.9
Chemicalsand alliedproducts!
93.795.987.688 9
101.796.597 798.998 599.1
101.2102.0101.61018100.799197 998 399.099 4
100.099899.9
102 21041104.21100146.81813187.2192.8198 8222.3260 3287.6292.3293.0300.9
289.3290.52898291.3291.1290.8293.7294.4295.9295.5296.4297.7
298.1296 5300.1302.0302.7302.2302.6301.1301.4301.0301.6301.0
See next page for continuation of table.
300Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-59.—Producer price indexes for major commodity groups, 1947-84—Continued
[1967 = 100] .
Year or month
19471948 ! """'.'"'".'"19491950195119521953195419551956195719581959I960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984 2
1983:JanFebMarAprMayJuneJulyAugSeptOctNovDec . . .
1984:2JanFebMarAprMayJuneJulyAugSeptoct..::.:.: :.:;..:.::::::NovDec
Rubberand
plasticproducts
70.572.870.585.9
105.495.589.190.4
102.4103.8103.4103.3102.9103.199.296.396.895.595.997.8
100.0103.4105.3108.3109.1109.3112.4136.2150.2159.2167.6174.8194.3217.4232.6241.4243.2247.2
242.9242 3241.8243.0243.2243.1243.4243.7243.2244.4243.6243.8
244 8246.2246.4247.3247.5247.6247.5
* 247.7247.9248.1247.7247.5
Lumberand
woodproducts
73.484.077.789.397.294.494.392.697.198.593.592.498.8
95.391.091.693.595.495.9
100.2100.0113.3125.3113.6127.3144.3177.2183.6176.9205.6236.3276.0300.4288.9292.8284.7307.1307.5
293.3303 1305.8307.2308.0314.8314.6313.9305.6305.6304.9308.7
3091315.7316.8315.1308.5307.1304.4304.7303 4300.2301.1303.3
Pulp,paper,and
alliedproducts
72.575.772.474.388.085785.585.587.893.695.496.497.398.195.296.395.695.496.298.8
100.0101.1104.0108.2110.1113.4122.1151.7170.4179.4186.4195.6219.0249.2273.8288.7298.1318.3
293.6294 2294.8295.4296.0297.0297.8298.8299.9302.2303.6304.0
3091312.0314.0316.3317 7318.4319.8321.33212322.6323.8323.2
Industrial commodities—Continuec
Metalsand
metalproducts
54.962.563.0
66.373.873.976.376.982.189.291.090.492.392.491.991.291.393.896.498.8
100.0102.6108.5116.6118.7123.5132.8171.9185.6195.9209.0227.1259.3286.4300.4301.6307 2316.0
300.3304 7304.4304.6306.1306.3307.3308.2310.7310.9310.9311.9
312 9314.8316.8317.9317 4317.3316.1316.2315 3315.4316.2315.3
Machineryand
equipment
53.758.261.063.170,570.672 273.475 781.887 689.491.3
92.091.992.092.292.893.996.8
100.0103.2106.5111.4115 5117.9121.7139.4161.4171.0181.7196.1213.9239.8263 3278.82864293.1
283 3284 3284.7285.4286.0286.2287.4287.4287.9287 6288.0288.8
289 7290.2291.0292.2292 6293.1294.02941294 5295.02957295.6
Furnitureand
householddurables
77.081.682.984.791.890-191.992.993.395.898.399.199.399.098.497.797.097.496.998.0
100.0102.8104.9107.5110.0111.4115.2127.9139.7145.6151.5160.4171.3187.7198.5206.9214.0218.6
210.7212 5212.3212.8213.6214.0214.8214.9215.4215 3215.7215.7
216 8217.2217.4218 22191219.1219.2219 22189219.0219.6219.7
1
Non-metallicmineralproducts
66.371.673.575.480.180.183385.187.591.394.895.897.0
97.297.697.697.197,397.598.4
100.0103.7107.7112.9122.4126.1130.2153.2174.0186.3200.5222.8248.6283.0309.5320.2325.2337.3
322 3322.0324.1324.1324.5325.1326.3327.2328.0328.9328.9
330.1332.2333.4335.8337.6338.3339.8340.83404339.6339.5339.9
Transpor-tationequip-ment:Motor
vehiclesand
equip-ment3
64.170.875.775.379 484.083 683.886 391.295198.1
100.398.898698.697 898.398598.6
100.0102.8104.8108.7114.9118.0119.2129.2144.6153.8163.7176.0190.5208.8237.6251.3256.8261.4
257.0256 3255.4255.9256.2256.5256.6256.8249.1260.6260.5260.6
2611261.2261.5261.9261.5261.1261.4261.1254 6263.3263.6263.9
Miscella-neous
products
73.576 578.079 283 983485 686 486 587 690292 092.2
93 093 393.794 595.295 997.7
100 0102.2105.2109.9112 9114.6119 7133.1147 7153.7164.3184.3208.7258.8265 7276.4289 6296.0
2857288 8287.4287.4287.1288.0291.5292.0291.429172917292.8
294 5294.9294.9294.6294 3295.7297.3298 22964297.0297.0297.1
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 1984 to reflect the availability of late reports and corrections by respondents. All data are
subject to revision 4 months after original publication.3 Index for total transportation equipment is not shown but is available beginning December 1968.
Source: Department of Labor, Bureau of Labor Statistics.
301Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-60.—Changes in producer price indexes for finished goods, 1950-84
[Percent change]
Year or month
1950195119521953195419551956195719581959
19601961 .19621963196419651966 ..1967196819691970197119721973197419751976 .. .197719781979198019811982 ...19831984 2 .
1983:JanFebMar
June"!!!!!"!!!!!JulvAugSeptOcfNov ..Dec
1984: 3
JanFebMar
JuneJulyAug ..„SeptOcfNovOec
Totalfinishedgoods
Oec. toDec.1
10.42.9
=-2.251
1.24.23.2
.5-= 41.8
- . 51
-2.5
3.32.21.63.14.82.23.23.8
11.818.36.63.76.99.2
12.811.87.13.7
.61.8
Yearto year
1.89.5
- . 61 0
2.2
2.83.62.3
.80
3
A1.73.21.22.8373.53.13.19.1
15.310.84.46.57.8
11.113.59.24.01.62.1
Finishedconsumer
foods
Dec. toDec.'
13.35.3
= 5.92219
- 2 . 93.65.3.4
- 3 75.21.8
5- 1 . 3
4
9.11.4
= 44.88.22.55.98.0
22.513.05.5
- 2 . 56.9
11.77.47.51.42.12.33.8
Yearto year
1.912.4= .952
8
=2.52
3.55.8
- 4 72.2
.49
- 1 . 25
3.86.5
- 1 63.66.23.21.65.6
20.314.08.4
~5.39.19.25.95.92.21.04.5
Finished goods excluding consumer foods
Total
Oec. toOec.1
IZZ
2.43.44.32.12.16.6
21.27.26.26.98.3
14.813.38.84.1
.01.2
Yearto year
2.62.73.5372.04.1
16.012.16.37.07.3
11.916.210.34.61.71.4
Consumergoods
Dec. toDec'
8.2.9
.31.72,51.7.2.84
- 31
.1
.1
.9172.12.02.93,92.02.07.4
20.5676.06.78.5
17.514.28.54.2
- . 8.8
Yearto year
1.67.2
- 1 . 3.9.3.8
2.42.5
U4
- .12
0
.71.61.92.12.43.03.41.94.5
16.910.56.27.27.1
13.318.610.2
4.11.3
.9
Capitalequipment
Dec. toDec.*
10.33.4
.82.31.15.68.34.31.31.0
1
3.5.9
1.53.93.13.04.64.92.42.05.3
22.68.26.47.37.98.8
11.49.23.91,92,1
Yearto year
2.49.71.71.71.23.07.46.22.61.9
2.14.2
1.01.22.53.33.53.34.84.12.53.3
14.215.26.76.57.98.7
10.810.25.72.82.4
Finishedenergygoods
Dec. toDec.'
16.411.512.18.5
58.027.814.1
-S2- 4 . 1
Yearto year
17.311.81576.4
35.149.219.1
- 1 . 5- 4 , 8=4.2
Finished goodsexcluding foods
and energy
Dec. toDec*
6.15.66.38.39.4
10.77.84.91.82.2
Yearto year
11.45.66.17.59.0
11.18.6573.02.4
Percent change from preceding month
Unad-justed
=0 .6
-2
'.32.1
•— 3'.9
.1
.8
'.3- . 1- . 0
.5— 3—*5
.2
.0
Sea-son-allyad-
justed
-0 .7
- ! i
.3
.40
.1
1.2
.6
.4
.40
- . 10
.3
~2.5
Unad-justed
0.01.0.07
- . 1- . 5= .20
.9
.37.9
3.0.9.7
- . 8.9
- . 317
- . 6.2.8
Sea-son-a
justed
=0.2.8
0.8
- . 4- . 6- . 5
71.0
2.6.6
— 7- U
= .4
1.3
.4
7.5
Unad-justed
- 0 . 8
-.3
16.5.3
- . 81.1
1
.1
.2
.2
-.3- . 61.0
-2
Sea-son-a
justed
- 0 . 9- . 1
— 3
7.2,3
- . 11
- . 0
- . 0.3.32.1
- . 1.1
~!4- . 1
Unad-justed
1.2=.4
.5- . 6
7.8.4.2
.92
— .2
022
!s0
.0
.4
.61.0.3
= . 3
Sea-son-allyad-
justed
- 1 . 4- . 3- . 3- . 4
.1
.3- . 0
- . 2
- . 1.2.3
.3
- . 2
- ! l
-2
Unad-justed
0.1
o'
.122
-.917
o
.4
.20
.8- . 20
20
U.1.0
Sea-son-aljyad-
justed
- 0 . 1,3.3.0.2
.2
.5- . 1
1.3
.2
.4
.3
=! i.12
22
Unad-justed
- 4 . 1- 2 . 8- 1 . 8- 3 . 2
2.62.9
.4
.4- . 2—.914
- 1 . 3
- 1 . 8.5.1
~L5.3
- 1 . 2- 1 . 9
1.1
- L 5
Sea-son-allyad-
justed
= 3.5- 3 , 0- 3 , 0- 1 . 9
2.62.4
- . 3- . 2
—*51 2
- 1 . 1
= 1.2.3
- 1 . 2.4
1.5- . 2
- 1 . 8- 2.5
21.5.6
- 1 . 3
Unad-justed
- 0 . 2.3
~*.2
.4
.2
~i!s1
.1
.5
.2
.2
'.0~.o
!o- . 61.0
0'
Sea-son-
3justed
- 0 . 4.4.4.0
.3
.5- . 1
~*3.2
.2
.3
.6
.20
.2
.2
.3
.2
1 Changes from December to December are based on unadjusted indexes.2 Data nave been revised through August 1984 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.
302Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MONEY STOCK, CREDIT, AND FINANCE
TABLE B-61.—Money stock, liquid assets, and debt measures, 1959-84
[Averages of daily figures; billions of dollars, seasonally adjusted]
Ml
Sum ofcurrency,demand
deposits,travelers
checks, andother
checkabledeposits(OCDs)
M2
Ml plusovernightRPs and
Eurodollars,
balances(general
purpose andbroker/dealer),
MMDAs. andsavings andsmall timedeposits
M3
M2 pluslarge timedeposits,term RPs,
andinstitution-only MMMF
balances
M3 plusother liquid
assets
Debt»
Debt ofdomestic
nonfinancialsectors
(monthlyaverage)
December:1959....I960....1961....1962...,1963....1964....1965....1966....1967....1968....1969...1970...1971..,.1972...1973....1974....1975...1976...1977...1978...1979...1980....1981...,1982...1983...1984"
1984:JanFebMar .
fcJune....JulyAugSept....OctNovDec "...
141.0141.8146-5149.2154.7161.9169.5173.7185.1199.4205.8216.6230.8252.0265.9277.6291.2310.4335.4363.1389.1414.9441.9480.5525.4554.5
530.1533.0535.3535.5541.2546.3545.8546.6548.9545.5549.4554.5
297.8312.3335.5362.7393.2424.8459.4480.0524.3566.3589.5628.2712.8805.2861.0908.5
1,023.31,163.61,286.71,389.11,498.51,632.61,796.61,965.42,196.32,376.3
2,206.82,222.62,230.02,242.92,258.62,272.12,281.92,291.02,305.62,317.22,346.42,376.3
299.8315.3341.0371.4406.0442.5482.2505.1557.1606.2615.0677.5776.2886.0985.0
1,070.51,172.41,311.91,472.91,647.11,804.81,990.02,238.22,462.52,710.42,987.3
2,723.12,746.22,767.12,792.12,819.12,841.62,862.62,873.62,891.42,915.72,952.92,987.3
388.6403.6430.8466.1503.8540.4584.4614.8666.5728.9763.5816.3903.1
1,023.01,141.71,249.31,367.91,516.61,704.71,910.62,117.12,326.22,599.82,870.83,183.1
683.4718.776L6814.5870.4934.0
1,002.81,070.11,147.11,242.41,330.71,420.51,555.51,715.31,906.32,081.82,270.82,513.32,829.13,200.03,583.53,926.14,311.84,710.05,224.6
3,198.33,227.93,269.83,296.13,328.63,372.93,410.73,432.53,455.7
5,282.85,341.75,396.75,455.95,517.75,571.75,632.45,694.55,743.15,798.95,871.6
1 Consists of outstanding credit market debt of the U.S. Government, State and local governments, and private nonfinancial sectors; datafrom flow of funds accounts.
Note.—The nontransactions portion of M2 is seasonally adjusted as a whole to reduce distortions caused by substantial portfolioshifts arising from regulatory and financial changes in recent years, especially shifts to MMDAs in 1983. A similar procedure is used toseasonally adjust the remaining nontransactions balances in M l See Table B-62 for components.
Source: Board of Governors of the Federal Reserve System.
303
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-62.—Components of money stock measures and liquid assets, 1939-84
[Averages of daily figures; billions of dollars, seasonally adjusted, except as noted]
Period Currency Travelerschecks
Demanddeposits
Othercheckabledeposits
Overnightrepur-chase
merits<RPs)
net, plusovernightEurodol-
larsNSA
Money market mutualfund (MMMF)
balances
Generalpurpose
andbroker/-
dealerNSA
Institu-tion only
NSA
Moneymarketdeposit
accounts(TA,
Savingsdeposits
December:1959....
I960....1961....1962....19631964
19651966....1967..,.1968....1969....
1970....1971....1972....1973....1974....
197519761977....19781979
19801981....1982....1983....1984 "..
1984:JanFebMar
{"iyAugSeptOcfNovDec*....
29.0
28.929,530.632.534.3
36.338.340.443.446.1
49.252.656.861.567.8
73.980.588.597.4
106.3
116.7124.0134.1148.0158.0
149.9150.2150.9151.8152.9154.2
155.0156.0156.7157.2157.5158.0
0.4
.4
.4
is
1.01.11.31.51.8
2.32.83.13.53.7
4.24.34.34.95.2
4.95.05.05.15.15.1
5.25.25.15.05.15.2
111.6
112.5116.5118.2121.7127.0
132.5134.6143.9155.1158.8
166.3176.9193.7202.5207.5
214.2224.4239.6253.8261.9
266.5236.2239.7243.7248.3
244,5243.8244.0245.3245.2248.2
247.1245.5246.4243.8245J248.3
0.0
.0
.0
.0
A
.1
.1
.1
.1
.1
.2
A.9
2.74.28.5
17.1
27.677.4
102.4128.9143.0
130.8134.0135.4133.3138.0138.8
138.5139.9140.7139.6141.1143.0
0.0
.0
.0
.0
.0
.0
.0
.0
.0
.02.2
1.32.32.85.35.6
5.810.614.720.321.2
28.335.944.156.257.6
58.659.558.357.559.156.5
56.958.756.856.858.257.6
0.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
u2.72.42.46.4
33.4
61.6150.6185.2138.2168.1
137.8142.1144.8145.9146.5148.9
150.5150.6152.0155.7162.2168.1
0.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0,0.0.0.2
.4
.6
3:?9.5
15.238.051.143.262.7
43.544.645.045.045.345.7
46.146.246.952.258.3627
0.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.043.0
376.0410.0
380.3386.0392.5396.4394.6392.9
389.2383.8383.4386.8397.3410.0
146.4
159.1175.5194.8214.4235.2
256.9253.1263.7268.9263.7
261.0292.2321.4326.8338.5
388.7452.8491.3480.8423,1
401.4345.7362.1312.9294.3
309.9306.6305.5305.5305.5305.1
303.0299.7298.8297,3296.1294.3
See next page for continuation of table.
304
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-62.~Components of money stock measures and liquid assets, 1959-84—-Continued
[Averages of daily figures; billions of dollars, seasonally adjusted, except as noted]
Period
December:1959
I9601961196219631964 .
19651966196719681969
19701971 . .197219731974
19751976 . .197719781979
19801981198219831984 p
1984:Jan .. .FebMarAprhfay ..June
JulyAug ..SeptOctNovDecp
Smalldenomi-nationtime
deposits1
11.4
12.514 820.125529 2
34 555.077 8
100 5120.4
152.2190 5232.226602881
33813910446.052196358
7314827 3856 9793.1897.1
797.0800 9803.4808 3816.78290
8452862.0874.3884.9891 5897.1
Largedenomi-nationtime
deposits1
1.2
2.03.97.0
10 815.2
21.223.130937.420.4
45.257 773.3
1110144.7
129.71181145.1195 2222.1
258.43013327 4325.4409.7
333.03399347.9355 5367.33788
389 0391.9392.8401.0404 3409.7
Termrepur-chaseagree-ments(RPs)NSA
€.0
.0
.0
.0
.0
.0
.0
.0
.0
.02.6
1.62.73.56.88.0
8.414.119.427.030.1
34.737040.256.064.6
53.354.555.959 861.6596
59663.464.766.468 264.6
TermEurodol-
lars(net)VISA
0.7
.81.41.61.92.4
1.72.12.12.92.7
2.22.73.65.48.09.7
14.820.231.844.7
50.367 581.793.481.5
89.989 993.293194.1903
88886.184.479.080 181.5
Savingsbonds
46.1
45.746.546.948.149.0
49.650.251.251.851.7
52.054.357.660.463.3
67,271.876,480.379.5
72.367.767.971.0
71.271.772.272.572.873.0
73.273.473.6
Short-term
Treasurysecurities
38.6
36.737.039.840.738.5
40.743.238.746.159.5
48.936.140.749.452.9
69.570.478.482.0
108.6
133.8149.9187.8223.3
226.3231.2245.2241.4239.9254.4
267.4276.8286.3
Bankers'accept-ances
0.6
.91.11.11.21.3
1.61.81.82.33,3
3.53.83.55.0
12.6
10.710.814.122.027.1
32,039.843.843.3
42.741.642.443.145.346.9
47.347.346.2
Commer-cial paper
3.6
5.15.26.87.79.1
10.214.417.822.534.0
34.532.735.241.950,1
48.051,762.979,297,0
98.1104.2108.8130.8
134.9137.3142.9146.9151.4157.1
160.2161.4158.2
1 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 6 - 6 1 .Source: Board of Governors of the Federal Reserve System.
305
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-63.—Aggregate reserves of depository institutions and monetary base, 1959-84
[Averages of daily figures-, millions of dollars; seasonally adjusted, except as noted]
Year and month
Adjusted for changes in reserve requirements«
Reserves of depository institutions
Total2rowed
Nonbor-rowedplus
extendedcredit
Required
Mone-tary
base'
Borrowings of depositoryinstitutions from the Federal
Reserve, NSA
Total Seasonal Extendedcredit
1959: Dec
I960: Dec1961: Dec1962: Dec1963: Dec1964: Dec
1965: Dec1966: Dec1967: Dec1968: Dec1969: Dec
1970: Dec1971: Dec1972: Dec1973: Dec1974: Dec
1975: Dec1976: Dec1977: Dec1978: Dec1979: Dec
1980: Dec1981: Dec1982: Dec1983: Dec1984: Dec *
1983:'JanFeb...Mar,!."
fernJuneJulyAugSectOctNov.;Dec
1984:Jan.Feb.;;;;;;Mar
fe::::::::::::June ,JulyAugSeptOct.Nov.;;;;;Dec P
13,695
13,86314.29314,55614,85615,336
15,88115,87517,27918,18118,471
19,35620,59422,66323,67124,904
25,04425,59626,62727,90629,087
31,03832,09634,28336,13838,704
33,95934,39334,94435,27135,37735,848
36,00336,04336,13936,15736,10336,138
36,35737,02537,09737,10937,44738,282
38,23338,38038,13537,74538,09938,704
12,754
13,78914,16014.29614,52415,072
15,43715,34217.05117,43517,352
19,02320,46821,61322.37324,176
24,91425,54326,05727,03827,615
29,34831,46033,64935,36435,518
33,43033,81134,15234,26134,42434,212
34.55034,49634,69835,31335,19835.364
35,64236,45836,14535.875
32,30930,36330,89431,72833,48235.518
12,754
13,78914,16014,2%14,52415,072
15,43715,34217,05117,43517,352
19,02320,46821,61322,37324,323
24,92625,54326,05727,03827,615
29,35131,60833,83535,36638,122
33,58734,08934,46934,66634,93735,170
35,12834,98735,2133556935,20435,366
35,64636,46336,17235,91934,49636,855
37.31737,40637,35236,78537,31938,122
13,189
13,12013,70913,98514,36614,930
15,45815,53616,90417,75518,185
19,10720,41222,37923.36824,645
24,77825,32226,43727,67428,759
30,52431,77733,78335,57837,857
33,41133,95834,51134,79434,92835,368
35,49535,59635,64135,65235,57435,578
35,74436,08336,38836,61936,87037,516
37,62637,69737,51537,13837,41937,857
43,425
43,40844,43745,68347,93550,285
52,96155,03658,45362,53365,678
69,68574,37780,92187.43694,629
100,771108,347117,461128,043138,903
150,342158,097170,145185,486198,007
171,003172,821174,668175,882177,166178,808
179,789180,619182,272183,357184,472185,486
187,469189,277189,417190,357191,977193,858
194,755195,980195,992196,375197,022198,007
941
74133260
444532228746
1,119
332126
1.0501,298727
13053
569868
1,473
1,690636634774
3,186
529582792
1,009952
1,636
1,4531,5461,441844906774
715567952
1,2342,9883,300
5,9248,0177,2426,0174,6173,186
4132
14135513581
116543396113
3340538299122
17119819014212196
103133139196264
308346319299212113
147
12
31481862
2,604
157278317405513958
57849151525662
4
274437
1,873
5,0087,0436,4595,0573,8372,604
"Reserve aggregates include required reserves of member banks and Edge Act corporations and other depository institutions.Discontinuities associated with the implementation of the Monetary Control Act, the inclusion of Edge Act corporation reserves, andother changes In Regulation D have been removed. Beginning with the week ended December 23, 1981, reserves aggregates have beenreduced by shifts ofreservable liabilities to international banking facilities (IBFs), On the basis of reports of liabilities transferred toIBFs by U.S. commercial banks and U.S. agencies and branches of foreign banks, it is estimated that required reserves were lowered onaverage by $10 to $20 million in December 1981 and $40 to $70 million in January 1982.
2 Reserve balances with Federal Reserve Banks (which exclude required clearing balances) plus vault cash at institutions with requiredreserve balances plus vault cash equal to required reserves at other instititions.8 Includes reserve balances and required clearing balances at Federal Reserve Banks in the current week plus vault cash held twoweeks earlier used to satisfy reserve requirements at all depository institutions plus currency outside the U.S. Treasury, Federal ReserveBanks, the vaults of depository institutions, and surplus vault cash at depository institutions.
Source: Board of Governors of the Federal Reserve System.
306
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-64.—Commercial bank loans and investments, 1972-84
[Monthly average, billions of dollars, seasonally adjusted']
Year and monthTotal loans
andinvestments
loans
TotalCommercial
andindustrial
Investments
U.S.Governmentsecurities
Othersecurities
1972: Dec1973: Dec1974: Dec
1975: Dec1976: Dec1977: Dec1978: Dec1979: Dec
1980: Dec1981: Dec1982: Dec1983: Dec1984: Dec".,.
1983:JanFebMar
fczJuneJulyAugSeptOctNovDec
1984:JanFebMarAprMayJune
JulyAugSeptOctNov. . . .Dec
572.3647.8713.7
744.9804.6891.4
1,013.81,135.4
1,481.41,495.01,506.81,520.81,539.11,553.0
1,565.01,584.11,599.61,612.91,629.81,636.6
1,652.61,662.1
21,674.91,683.01,700.91,713.6
390.5460.1519.8
516.9554.8632.2746.9849.1
1,239.41,307.41,400.51,553.01,713.6
1,411.71.419.51,432.31,443.31,453.61,466.9
914.2967.4
1,032.81,122.71,313.1
1,035.11,038.21,044.41,049.11,051.31,057.9
1,069.01,079.41,086.21,095.31,108.51,122.7
1,160.81,181.21,196.31,213.21,232.01,243.2
1,256.71,264.2
21,275.01,284.51,299.91,313.1
137.5165.0196.6
189.3190.9211.0246.1291.1
326.9355.1391.5412.8469.9
392.9393.8395.5394.5393.2394.6
397.9401.2402.1405.0409.6412.8
414.1421.7432.2438.5448.0452.2
455.0458.1
2 460.0463.9469.5469.9
88.688.286.3
116.7136.3136.6137.6144.4
170.9179.6202.7260.8260.2
208.8213.4220.9226.0233.4238.5
240.7242.2246.9252.9257.8260.8
260.4260.7261.0257.6257.3253.7
256.4257.1258.0257.0259.4260.2
93.299.4
107.5
111.2113.5122.7129.2141.9
154.4160.4165.0169.6140.3
167.8167.8167.0168.2169.0170.5
171.7173.4173.7172.6172.7169.6
143.7142.2142.3142.1140.5139.7
139.5140.8141.9141.5141.6140.3
'Data are prorated averages of Wednesday figures for domestically chartered banks and averages of montfi-end data for foreign-relatedinstitutions.
2 Beginning September 26, 1984, a transfer of loans from Continental Illinois National Bank to the Federal Deposit InsuranceCorporation reduced total loans and investments and total loans by $1.9 billion, commercial and industrial loans by $1.4 billion, and realestate loans (not shown here) by $0.4 billion.
Note.—Data are not strictly comparable because of breaks in the series.
Source: Board of Governors of the Federal Reserve System.
307Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-65.—Total funds raised in credit markets by nonfinancial sectors, 1975-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Item 1975 1976 1977 1978 1979 1980 1981 1982 1983
Net credit market borrowing by nonfinancial sectors
Total net borrowing by domestic nonfinancial sectors..
U.S. Government
193.0 243.5 319.4 369.8 386.0 344,6 380.4 404.1 526.4
Treasury issuesAgency issues and mortgages..
Private domestic nonfinancial sectors..
Debt capital instruments
Tax-exempt obligations..Corporate bondsMortgages
Home mortgagesMulti-family residential..CommercialFarm
Other debt instruments
Consumer creditBank loans n.e.cOpen-market paper..Other
By borrowing sector: Total...
State and local governments..HouseholdsNonfinancial business
FarmNonfarm noncorporate-Corporate
Foreign net borrowing in United States..
Bank loans n.e.c,
U.S. Government loans..
Total domestic plus foreign..
85.4
85.8
- . 4
107.6
100.916.127.257.6
42.0.0
11.04.6
6.7
9.6-10.4- 2 . 610.1
107.6
12.353.541.8
8.512.520.9
11.3
6.22.0
Z8
204.4
Total funds supplied to domestic nonfinancial sectors..
Private domestic nonfinancial sectors
Deposits and currency „..
Checkable deposits and currencyTime and savings depositsMoney market fund sharesSecurity repurchase agreementsForeign deposits
Credit market instruments-
Foreign funds
At banksCredit market instruments...
U.S. Government and related loans, netU.S. Government cash balancesPrivate insurance and pension reservesOther sources .
193.0
141.6
102.0
15.6
84.11.3
39.6
- 2 . 5
- 8 . 6
6.1
11.9-1 .740.13.6
69.0
69.1
- . 1
174.5
123.6
15.722.885.1
63.93.9
11.65.7
50.9
25.44.54.0
16.9
174,5
13.291.569.8
10.215.444.2
19.3
8.65.61.93.3
262.8
56.8
57.6- . 9
262.6
171.1
21.922.9
126.3
94.07.1
18.17.1
91.6
40.227.12.9
21.3
262.6
12.0140.7110.0
12.328.0
13.5
5.13.12.43.0
332.9
53.7
55,1
- 1 . 4
316.2
199.728.421.1
150.2
112.29.2
21.77.2
116.5
48.837.4
5.225.1
316.2
16.5172.0127.6
14.632.480.6
33.8
4.219.16.63.9
403.6
37.4
38.8
- 1 . 4
348.6
211.230.317.3
163.6
120.07.8
23.911.8
137.5
45.451.211.129.7
348.6
17.6179.3151.7
21.434.496.0
20.2
3.92.3
11.22.9
406.2
79.2
79.8- . 6
265.4
192.0
30.326.7
135.1
96.78.8
20.29.3
73.4
6.336.7
5.724.8
265.4
17.2122.1126.1
14.433.778.1
27.2
11.510.14.7
371.8
87.4
87.8
- . 5
293.1
159.1
22.721.8
114.676.04.3
24.69.7
134.0
26.754.719.233.4
293.1
6.2127.5159.4
16.340.2
102.9
27.2
5.43.7
13.94.2
407.6
161.3
162.1- . 9
242.8
158.9
53.8
18.786.5
52.55.5
23.65.0
83.9
21.055.5
- 4 . 111.5
242.8
31.394.5
117.1
7.639.570.0
15.7
6.7- 6 . 210.74.5
419.8
Direct and indirect supply of funds to credit markets
243.5
170.7
132.1
17.8110.3
.02.31.7
38.7
10.6
- 4 . 515.2
1.1- . 141.519.7
319.4
185.5
149.0
25.3120.0
.22.21.3
36.5
41.0
1.439.6
4.14.3
55.429.1
369.8
213.6
153.9
25.4112.1
6.97.52.0
59.6
44.6
6.538.0
- 6 . 66.8
74.936.6
386.0
246.5
146.8
26.278.134.46.61.5
99.6
23.0
27.6- 4 . 6
11.6
72 831.8
344.6
237.2
181.1
15.5128.729.26.51.1
56.1
1.5
-=21.723.2
1.8- 2 . 683.922.7
380.4
292.5
221.9
27.583.9
107.52.5
70.6
7.6
- 8 . 716.3
6.8-1 .190.4
-15.9
404,1
276.1
181.9
25.4130.524.73.8
- 2 . 5
94.2
- 8 . 6
-26.718,1
10.46.1
104.615.6
186,6
186.7
339.8
239.3
56.315.7
167.3
108.78.4
47.32.9
100.5
51.327.3
- 1 . 223.1
339.8
36.7175.4127.7
4.363.959.5
18.9
3.84.96.04.3
545.3
526.4
364.7
222.6
36.0211.6
-=44.114.34.8
142.1
49.2
22.127.1
3.3- 5 . 399.215.2
See next page for continuation of table.
308Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-65.—Total funds raised in credit markets by nonfinancial sectors, 1975-84—Continued
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Item1983 1984
Net credit market borrowing by nonfinancial sectors
Total net borrowing by domestic nonfinancial sectors ...
U.S. Government
Treasury issues
Agency issues and mortgages
Private domestic nonfinancial sectors
Debt capital instruments
Tax-exempt obligationsCorporate bondsMortgages
Home mortgagesMulti-family residentialCommercialFarm ,
Other debt instruments
Consumer creditBank loans n.e.cOpen-market paperOther,..,
By borrowing sector: Total
State and local governmentsHouseholdsNonfinancial business
farm ,Nonfarm noncorporateCorporate
Foreign net borrowing in United States
BondsBank loans n.e.cOpen-market paperU.S. Government loans
Total domestic plus foreign
Total funds supplied to domestic nonfinancial sectors
Private domestic nonfinancial sectors
Deposits and currency
Checkable deposits and currencyTime and savings deposits ,Money market fund sharesSecurity repurchase ageementsForeign 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 ,
Source: Board of Governors of trie Federal Reserve System.
428.6
209.6
209.5.1
219.0
175.0
50.522.0
102.5
67.1- . 435.3
.5
44.0
26.517.1
- 1 0 . 711.1
219.0
31.1108.579.4
4Z437.5
8.9
3.617.7
-16 .84.4
549.3
234.5
234.8
- . 3
314.8
253.875.124.0
154.7
100.56.1
45.42.7
61.0
45.39.6
-10 .516.6
314.8
52.7161.0101.1
2.157.841.2
21.6
5.74.97.63.4
516.2
165.2
165.4
351.0
251.7
44.09.1
198.6
131.812.350.44.2
99.3
48.718.07.2
25.4
351.0
25.1195.9129.9
4.775.449.8
13.3
2.9- 3 . 4
9.14.8
611.4
136.9
137.1
- . 1
474.4
276.755.57.8
213.4
135.515.658.34.0
197.8
84.664.5
9.439.3
474.4
38.0236.1200.3
11.179.9
109.4
31.7
3.0
2334.5
437.5 570.9 529.5 643.1 650.0 764.0 619.1
660.9
184.1
184.4
- . 3
476.8
256.746.529.4
180.8
123.314.341.5
1.8
220.1
78.596.012.133.5
476.8
27.4201.1248.3
4.168.1
176.1
-10 .9
-1 .1-3 .7
-13 .27.2
715.6
161.6
161.8- . 1
554.0
280.3
29.618.7
232.1
141.718.969.0
2.4
273.6
124.287.250.911.3
554.0
10.6261.6281.7
- 2 . 697.5
186.8
48.4
3.3-10 .3
50.94.5
652.9
186.1
186.3
466.7
295.3
54.435.9
205.0
129.215.159.4
1.2
171.4
87.545.923.114.9
466.7
31.1241.8193.8
5.368.3
120.2
- 3 3 . 7
2.2-13.4-30.3
7.8
Direct and indirect supply of funds to credit markets
428.6
322.2
238.2
49.5259.9
-105.221.7
12.3
84.0
-15.4- 3 7 . 4
22.0
3.61.2
86.130.9
549.3
377.4
190.8
76.1175.3
-62.7.4
1.6
186.6
40.69.1
31.6
19.118.994.0- . 8
516.2
340.6
208.5
13.8204.6- 6 . 5- 3 . 5
.0
132.1
41.735.5
6.231.2
-21.793.630.9
611.4
418.6
252.9
4.4206.5- 1 . 838.5
5.3
165.7
130.0
81.548.6
-40.5-19 .8123.2
- . 1
660.9
416.2
272.9
63.3167.344.92.6
- 5 . 1
143.3
34.8
21.013.8
36.115.186.572.2
715.6
538.4
316.2
47.7252.2
15.48.1
- 7 . 2
222.2
53.3
13.240.1
-18.0-12 .2124.529.6
652.9
457.7
273.7
- 1 . 4284.420.5
-23.8- 6 . 0
184.0
39.2
12.227.0
13.916.186.939.1
309Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-66.—Bond yields and interest rates, 1929-84
[Percent per annum]
Year andmonth
1929
1933
1939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
197019711972 ........19731974
19751976197719781979
19801981198219831984
1980:JanFebMarAprMayJune
JulyAugSeptOctNovDec
U.S. Treasury securities
Bills(new issues) l
3-month
0.515
.023
.014103326.373.375
375375594
1.0401.102
1.21815521.7661.931.953
1.7532.6583.2671.8393.405
2.9282.3782.7783.1573.549
3.9544.8814.3215.3396.677
6.4584.3484.0717.0417.886
5.8384.9895.2657.221
10.041
11.50614.02910.686
8.639.58
12.03612.81415.52614.0039.1506.995
8.1269.259
10.32111.58013.88815.661
6-month
3$32*
3.2472.6052.9083.2533.686
4.0555.0824.6305.4706.853
6.5624.5114.4667.1787.926
6.1225.2665.5107.572
10.017
11.37413.77611.084
8.759.80
11.85112.72115.10013.6189.1497.218
8.1019.443
10.54611.56613.61214.770
Constantmaturities2
years
2.471.63
2.473.193.982.844.46
3.983.543.473.674.03
4.225.235.035.687.02
7.295.655.726.957.82
7.496.776.698.299.71
11.5514.4412.9210.4511.89
10.8812.8414.0512.029.448.91
9.2710.6311.5712.0113.3113.65
mill
years
2.852.40
2.823.183.653.324.33
4.123.883.954.004.19
4.284.925.075.656.67
7,356.166.216.847.56
7.997.617.428.419.44
11.4613.9113.0011.1012.44
10.8012.4112.7511.4710.189.78
10.2511.1011.5111.7512.6812.84
Corporatebonds
(Moody's)
4.73
4.49
3.01
2.842 772.832.732.72
2 622.532612.822.66
2.622 862.963.202.90
3.063.363.893.794.38
4.414.354.334.264.40
4.495.135.516.187.03
8.047.397.217.448,57
8.838.438.028.739.63
11.9414,1713.7912.0412,71
11.0912.3812.9612.0410.9910.58
11.0711.6412.0212.3112.9713.21
D 3 3
5.90
7.76
4.96
4.754 334.283.913.61
3 293.053 243.473.42
3.243.413.523.743.51
3.533.884.714.735.05
5.195.085.024.864.83
4.875.676.236.947.81
9.118.568.168.249.50
10.619.758.979.49
10.69
13.6716.0416.1113.5514.19
12.4213.5714.4514.1913.1712.71
12.6513.1513.7014.2314.6415.14
High-
grademunici-pal
bonds(Stand-a r d s
Poor's)
4.27
4.71
2.76
2.502102.362.061.86
1671.642 012.402.21
1.982002.192.722.37
2.532.933.603.563.95
3,733.463.183.233.22
3.27
3 984l515.81
6.515.705.275.186.09
6.896.495.565.906.39
8.5111.2311.579.47
10.15
7.218.049.098.407.377.60
8.088.628.959.119.55
10.09
Nownew-home
mortgageyiefds
/rill nn\ 4(t-HLBB)*
5.895.82
5.81
6.466 977!80
8.457.747.607.968.92
9.00
IS9.5610.78
12.6614.7015.1412,5712.38
11.8711.9312.6213.0313.6812.66
12.4812.2512.3512.6113.0413.28
Com-mercial
paper, 6months*
5.85
1.73
.59
.5653.66.69.73
.75
l!031.441.49
1.452.162.332.521.58
2.183.313.812.463.97
3.852.973.263.553.97
4.385.555.105.907.83
7,715.114.738.159.84
6.325.345.617.99
10.91
12.2914.7611.898.89
10,16
12.6613.6016,5014.939.298.03
8.299.61
11.0412.3214.7316.49
Prime ratecharged by
banks8
5.50-6.00
1,50-4.00
1.50
1.501501.501.501.50
150L50
1.50-1.751.75-2.00
2.00
2.072.563.003.173.05
3,163.774.203.834.48
4.824.504.504.504.50
4.545.635.616.307.96
7.915.725.258.03
10.81
7.866.846.839.06
12.67
15.2718.8714.8610.7912.04
High-low
15.25-15.2516.75-15.2519.50-16.7520.00-19.5019.00-14.0014.00-12.00
12.00-11.0011.50-11.0013.00-11.5014.50-13.5017.75-14.5021.50-17.75
Discountrate,
FederalReserveBank of
New York8
5.16
2.56
1.00
1.00100
*i!oo•1.00B 1,00
81.0081.00
1.001.341.50
1.591.751.751.991.60
1.892.773.122,153.36
3.533.003.003.233.55
4.044.504.195.165.87
5.954.884.506.447.83
6.255.505.467.46
10.28
11.7713.4211.028.508.80
High-low
12.00-12.0013.00-12.0013.00-13,0013.00-13.0013.00-12.0012.00-11.00
11.00-10.0010.00-10.0011.00-10.0011.00-11.0012.00-11.0013.00-12.00
Federalfundsrate7
!"!!
.....
1.782.733.111.573.30
3.221.962.683.183.50
4.075.114.225.668.20
7.184.664.438.73
10.50
5.825.045.547.93
11.19
13.3616.3812.269.09
10.22
13.8214.1317.1917.6110.989.47
9.039.61
10.8712.8115.8518.90
See next page for continuation of table.
310Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLB B-66.—Bond yields and interest rates, 1929-84—Continued
[Percent per annum]
Yearand
month
1981:JanFebMar....
to.June...July....Aug....Sept...OctNovDec
1982:JanFebMar....
May....June...July....Aug....Sept...OctNovDec
1983:JanFebMar. . . .AprMay....June...July....Aug....Sept...OcfNovDec
1984:JanFebMar....
ivfay.'.".'June...July....Aug....Sept...Oc?NovDec
V.S. Treasury securities
Bills(new issues)'
3-month
14.72414.90513.47813.63516.29514.55714.69915.61214.95113.87311.26910.926
12.41213.78012.49312.82112.14812.10811.9149.0068.1967.7508.0428.013
7.8108.1308.3048.2528.198829.129.399.058.718.718.96
8.939.039.449.699.909.94
10.1310.4910.419.978.798.16
6-month
13.88314.13412.98313.43415.33413.94714.40215.54815.05714.01311.53011.471
12.93013.70912.62112.86112.22012.310
12.23610.1059.5398.2998.3198.225
7.8988.2338.3258.3438.208.899.299.539.198.908.899.14
9.069.139.589.83
10.3110.5510.5810.6510.5110.058.998.36
Constantmaturities2
years
13.0113.6513.5114.0915.0814.2915.1516.0016.2215.5013.1113.66
14.6414.7314.1314.1813.7714.48
14.0012.6212.0310.629.989.88
9.649.919.849.769.66
10.32
10.9011.3011.0710.8710.9611.13
10.9311.0511.5911.9812.7513.1813.0812.5012.3411.8510.9010.56
10years
12.5713.1913.1213.6814.1013.47
14.2814.9415.3215.1513.3913.72
14.5914.4313.8613.8713.6214.30
13.9513.0612.3410.9110.5510.54
10.4610.7210.5110.4010.3810.85
11.3811.8511.6511.5411.6911.83
11.6711.8412.3212.6313.4113.5613.3612.7212.5212.1611.5711.50
Corporatebonds
(Moody's)
Aaa 3fxaa
12.8113.3513.3313.8814.3213.7514.3814.8915.4915.4014.2214.23
15.1815.2714.5814.4614.2614.8114.6113.7112.9412.1211.6811.83
11.7912.0111.7311.5111.4611.74
12.1512.5112.3712.2512.4112.57
12.2012.0812.5712.8113.2813.5513.44!2.8712.6612.6312.2912.13
RaaOdd
15.0315.3715.3415.5615.9515.8016.1716.3416.9217.1116.3916.55
17.1017.1816.8216.7816.6416.9216.8016.3215.6314.7314.3014.14
13.9413.9513.6113.2913.0913.37
13.3913.6413.5513.4613.6113.75
13.6513.5913.9914.3114.7415.0515.1514.6314.3513.9413.4813.40
High-grade
munici-pal
bonds(Stand-ards
Poor's)
9.6510.0310.1210.5510.7310.5611.0312.1312.8612.6711.7112.77
13.1612.8112.7212.4511.9912.4212.1111,1210.619.599.979.91
9.459.489.168.969.039.51
9.469.729.579.649.799.90
9.619.639.929.98
10.5510.7110.5010.0310.1710.3410.2710.04
New-home
mortgageyields
/rfll QR\ 4
13.2713.5414.0214.1514.1014.6714.7215.2715.2915.6516.3815.87
15.2515.1215.6715.8415.8915.4015.7015.6814.9814.4113.8113.69
13.4913.1613.4112.4212.6712.3612.5012.3812.5412.2512.3412.42
12.2912.2312.0212.0412.1812.1012.5012.4312.5312.7712.7512.55
Com-mercial
paper, 6months8
15.1014.8713.5914.1716.6615.2216.0916.6215.9314.7211.9612.14
13.3514.2713.4713.6413.0213.7913.0010.8010.869.218.728.50
8.158.398.488.488.319.039.369.689.288.989.099.50
9.189.319.86
10.2210.8711.2311.3411.1610,9410,169.068.55
Prime ratecharged by
banks6
High-low
21.50-20.0020.00-19.0019.00-17.5018.00-17,0020.50-18.0020.50-20.0020.50-20.0020.50-20.5020.50-19.5019.50-18.0018.00-16.0015.75-15.75
15.75-15.7517.00-15.7516.50-16.5016.50-16.5016.50-16.5016.50-16.5016.50-15.5015.50-13.5013.50-13.5013.50-12.0012.00-11.5011.50-11.50
11.50-11,0011.00-10.5010.50-10.5010.50-10.5010.50-10.5010.50-10.5010.50-10.5011.00-10.5011.00-11.0011.00-11.0011.00-11.0011.00-11.00
11.00-11.0011.00-11.0011.50-11.0012.00-11.5012.50-12.0013.00-12.5013.00-13.0013.00-13.0013.00-12.7512.75-12.0012.00-11.2511.25-10.75
Discountrate,
FederalReserveBank of
New York8
High-tow
13.00-13.0013.00-13.0013.00-13.0013.00-13.0014.00-13.0014.00-14,0014.00-14.0014.00-14.0014.00-14.0014.00-14.0014.00-13.0013.00-12.00
12.00-12.0012.00-12.0012.00-12.0012.00-12.0012.00-12.0012.00-12.0012.00-11.5011.50-10.0010.00-10.00
10.00-9,509.50-9.009.00-8.50
8.50-8.508.50-8.508.50-8,508.50-8.508.50-8.508.50-8.508.50-8.508.50-8.508.50-8.508.50-8.508.50-8.508.50-8.50
8.50-8.508.50-8.508.50-8.509.00-8.509.00-9.009.00-9.009.00-9.009.00-9.009.00-9.009.00-9.009.00-8.508.50-8.00
Federalfundsrate7
19.0815.9314.7015.7218.5219.1019.0417.8215.8715.0813.3112.37
13.2214.7814.6814.9414.4514.1512.5910.1210.319.719.208.95
8.688.518.778.808.638.989.379.569.459.489.349.47
9.569.599.91
10.2910.3211.0611.2311.6411.309.999.438.38
1 Rate on new issues within period; bank-discount basis.2 Yields on the more actively traded issues adjusted to constant maturities by the Treasury Department.3 Series excludes public utility issues for January 17, 1984 through October 11, 1984 due to lack of appropriate issues.4 Effective rate (in the primary market) on conventional mortgages, reflecting fees and charges as well as contract rate and
assuming, on the average, repayment at end of 10 years. Rates beginning January 1973 not strictly comparable with prior rates.6 Bank discount basis; prior to November 1979, data are for 4-6 months paper.«For monthly data, high and low for the period. Prime rate for 1929-33 and 1947-48 are ranges of the rate in effect during the
period.7 Since July 19, 1975, the daily effective rate is an average of the rates on a given day weighted by the volume of transactions at
these rates. Prior to that date, the daily effective rate was the rate considered most representative of the day's transactions, usuallythe one at which most transactions occurred.
8 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 Home Loan Bank Board (FHLBB),Moody's Investors Service, and Standard & Poor's Corporation.
311Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-67.—Consumer credit outstanding, 1950-84
[Amount outstanding (end of month); millions of dollars, seasonally adjusted]
Year and monthTotal
consumercredit
Installment credit*
Total Automobile Revolving * Mobile homes Other
Noninstallmentcredit4
December:
19531!195419551956195719581959
19601961
1964""!19651966196719681969
1970197119721973197419751976197719781979
1980198119321983
1983:JanFebMar
fczJune.......
mAugSeptOct.NovDec
1984:Jan.Feb ;;Mar
&E:JulyAug
Nov
25,01826,57631,83035,92837,29344,31948,2245 1 , : "51,L59,432
63,92866:56972,83081,57891,279
101,726108,227113,628124:915135,431
141,010155,537175,286200,894210,634219,772244,932284,599332,849377,486
383,246409,598433,480484,263
437,473436,672440,007443,011446,156451,186
455,425459,714463,209468,891475,130484,263
493,268497,335503,891512,132524,922534,946
543,904551,966556,824564,944574,057
15,16615,85920,12123,87024,47029,80932,66034,91434,73640,421
44,33545,43850,37557,05664,67472,81478,16281,78390,11299,381
103,905116,434131,258152,910162,203169,387190,725226,646269,392307,115
309,694330,218348,944388,718
351,539351,561354,498356,539358,811362,672
366,378370,471373,024378,117382,936388,718
393,187399,795405,665412,073422,306430,131
437,237443.235447,518453,793461,743
6,0355,9817,6519,7029,755
13,48514,49915,49314,26716,641
18,10817,65620,00122,89125,86529,37831,02431,13634,35236,946
36,34840,52247,83553,74054,24157,27967,79882,890
101,863116,523
116,808125,323129,799141,876
130,079129,565130,328130,769131,475132,915
134,764137,136137,431139,140140,408141,876
143,982146,781147,107149,265152,954155,851
159,273161,050162,367164,724167,448
2,0223,563
4,9008,2529,391
11,31813,23214,46716,50536,42745,00453,174
54,90060,30965,45375,564
65,76265,76766,81467,78568,36969,473
70,08970,63071,20972,44773,87475,564
76,06977,34280,30482,17284,98986,558
87,19888,512
91,33293,04.6
2,4337,1719,468
13,50514,58214,38214,53014,89715,19916,843
17,30217,87922,11923,460
22,36922,35122,52522,57622,67622,839
23,07623,29823,55323,52323,45923f460
23,36823,24123,52623,81124,11324,567
25,02925,60225,92025,70425,675
9,1319,878
12,47014,16814,71516,32418,16119,42120,46923,780
26,22727,78230,37434,16538,80943,43647,13850,64753,73858,872
60,22460,48964,56474,34780,14883,25991,89292,432
107,326120,575
120,684126,707131,573147,818
133,329133,878134,831135,409136,291137,445
138,449139,407140,831143,007145,195147,818
149,768152,430154,728156,825160,250163,155
165,737168,071169,395172,033175,574
9,85210,71711,70912,05812,82314,51015,56416,22216,85919,011
19,59321,13122,45524,52226,60528,91230,06531,84534,80336,050
37,10539,10344,02847,98448,43150,38554,20757,95363,45770,371
73,55279,38084,53695,545
85,93485,11185,50986,47287f34588,514
89,04789,24390,18590,77492,19495,545
100,08197,54098,226
100,059102,616104,815
106,667108,731109,306111,151112,314
1 Installment credit covers most short- and intermediate-term-credit extended to individuals through regular business channels,usually to finance the purchase of consumer goods and services or to refinance debts' incurred for such purposes, and scheduled to berepaid (or with the option of repayment) in two or more installments. Credit secured by real estate is generally excluded,
* Consists of credit cards at retailers, gasoline companies, and commercial banks, and check credit at commercial banks. Prior to1968, included in "other," except gasoline companies, included in noninstallment credit prior to 1971. Beginning 1977, includes open-end credit at retailers, previously included In ''other/' Also beginning 1977, some retail credit was reclassified from commercial intoconsumer credit.
9 Not reported separately prior to July 1970/• Noninstallment credit h credit scheduled to be repaid in a Jump sum, including single-payment loans, charge accounts, and service
credit. Because of Inconsistencies in the data and Infrequent benchmarking, series is no longer published by the Federal Reserve Boardon a regular basis. Data are shown here as a general indication of trends.
Source: Board of Governors of the Federal Reserve System.
312Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLB B-68.—Net change in consumer credit outstanding, 1950-84
[Change from preceding period; millions of dollars, seasonally adjusted]
Year and monthTotal
consumercredit
Installment credit *
Total Automo-bile
Revo IV-ing*
Mobilehome3 Other
stailmentcredit *
December:1950195119521953195419551956195719581959
1960...1961...1962...1963...1964...1965...1966...1967...1968...1969...
1970...1971...1972...1973...1974...1975...1976...1977...1978....1979...
1980198119821983
1983:Jan....Feb....Mar...
l/ay"!June..
July...Aug...Sept..Oct....Nov...Dec...
1984:Jan....Feb....Mar...
May-June..
July...Aug...Sept..
OcfNov...
4,7231,5585,2544,0981,3657,0263,9052,912459
7,837
4,4962,6416,2618,7489,70110,4476,5015,40111,28710,516
5,57914,52719,74925,6089,7409,138
25,16039,66748,25044,637
5,76026,35223,88250,783
3,993- 8 0 13,3353,0043,1455,030
4,2394.2893|4955,6826,2399,133
9,0054,0676,5568,241
12,79010t024
8,9588,0624,8588,1209,113
3,220693
4,2623,749
6005,3392,8512,254- 1 7 85,685
3,9141,1034,9376,6817,6188,1405,3483,6218,3299,269
4,52412,52914,82421,6529,2937,184
21,33835,92142,74637,723
2,57920,52418,72639,774
2,59522
2,9372,0412,2723,861
3,7064,0932,5535,0934,8195,782
4,4696,6085,8706,408
10,2337,825
7,1065,9984,2836,2757,950
1,539-541,670
3,7301,014
994-1,226
2,374
1,467- 4 5 22,3452,8902,9743,5131,646
1123,2162,594
- 5 9 84,1747,3135,905
5013,038
10,51915,09218,97314,660
2858,5154,47612,077
280-514763441706
1,440
1,8492372295
1,7091,2681,468
2,1062,799326
2,1583,6892,897
3,4221,7771,3172,3572,724
2,0221,541
1,3373,3521,1391,9271,9141,2352,03819,9228,5778,170
1,7265,4095,14410,111
309
1,047971584
1,104
616541579
1,2381,4271,690
5051,2732,9621,8682,8171,569
6401,3141,3241,4961,714
2,4334,7382,2974,0371,077-200148367302
1,644
459577
4,2401,341
250-1817451100163
237222255-30-64
-92-127285285302454
462573318
-216-29
1,681747
2,5921,698547
1,6091,8371,2601,0483,311
2,4471,5552,5923,7914,6444,6273,7023,5093,0915,134
1,352265
4,0759,7835,8013,1118,633540
14,89413,249
1096,0234,86616,245
1,756549953578882
1,154
1,004958
1,4242,1762,1882,623
1,9502,6622,2982,0973,4252,905
2,5822,3341,3242,6383,541
1,503865992349765
1,6871,054
658637
2,152
5821,5381,3242,0672,0832,3071,1531,7802,9581,247
1,0551,9984,9253,956
4471,9543,8223,74655046,914
3,1815,8285,156
11,009
1,398- 8 2 3
398963873
1,169
533196942589
1,4203,351
4,536-2,541
6861,8332,5572,199
1,8522,064
5751,8451,163
1 Installment credit covers most short- and intermediate-term credit extended to individuals through regular business channels,usually to finance the purchase of consumer goods and services or to refinance debts incurred for such purposes, and scheduled to berepaid (or with the option of repayment) in two or more installments. Credit secured by real estate generally excluded.2 Consists of credit cards at retailers, gasoline companies, and commercial banks, and check credit at commercial banks. Prior to1968, included in "other," except gasoline companies, included in noninstallment credit prior to 1971. Beginning 1977, includes open-end credit at retailers, previously included in ''other. Also beginning 1977, some retail credit was reclassified from commercial intoconsumer credit.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.
Note—See also Table B-67.Source: Board of Governors of the Federal Reserve System.
313Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-69.—Mortgage debt outstanding by type of property and of financing, 1939-84
[Billions of dollars]
End of yearor quarter
Allproper-
ties
Farmproper
ties
Nonfarm properties
Total1- to 4-familyhouses
Multi-familyproper-
ties
Com-mercialproper-ties1
Nonfarm properties by type of mortgage
Government underwritten
Total*
1- to 4-family houses
Total FHAinsured
VAguar-
anteed
Conventional •
Total1- to 4-familyhouses
1939
194019411942194319441945.,....,1946194719481949
19501951195219531954
19551956195719581959
196019611962
1965...1966...1967...1968...1969...
19701971197219731974
19751976197719781979
1980198119821983
1982:1..
Ill(V
1983:1
llCZZIV
1984:1
Ill
35.5
36.537.6mm34.735.541.848.956.262.7
72.882.:91.4
101.3113.7
129.9144.5156.5171.1190.8
207.5228.0251.4278.5305.9
333.3356,5381.2410.9441.4
474.2526.5603.4681.6744.3
806.1893.0
1,022.71,173.61,337.41,471.81,583,31,655.01,826.4
1,681.91,723.11,775,11,826:4
1,869.41,926.61,982.6
6.6
6,56,<6.05.44.9
4,84.95.1
5.6
6.16.77.L7.7
9.09i
10.411.112.1
12.813.915.216.818.9
21.223.125.127.429.2
30.332.235.841.346.3
51.156.663.770.882.6
92.0101.7106.7109.6
103.9105.5106.5106.7
106.9108.0109.0109.6
110.1111.0111.7
28.9
30.031.230.829.929.7
30.836.943.950.957.1
66.775.684.293.6
105.4
120.9134.6146.1160.7178.7
194.7214.1236.2261.7287.0
312.1333.4356.1383.5412.2
443.8494.3567.7640.3698.0
755.0836.4959.1
1,102.81,254.8
1,379.81,481.51,548.31,716.8
1,499.51,518.81,525.71,548.3
1,574.91,615.11,666,11,716.8
1,759,41,815.61,871.0
16.3
17.418.18.217.117.9
18.623.028.L33.337,6
45.251.758.566.175.7
88.299.0
107.6117.7130.9
141.9154.6169.3186.4203,4
220.5232.9247.3264.8283.2
298.1328,3372.2415.5451.2
495.0560.7657,8770.7891.0
987.01,065.31,105.71,214.6
1,078.21,090.51,091.71,105.7
1,122.11,146.91,182.11,214.6
1,244.21.278.61,314.1
5.6
5.5.95.85.85.6
5,;6.16.67.58.6
10.11112.312.913.5
14.314.915.316.818.7
20.323.025.8
37.240.343.947.352.2
60.170.182.893.1
100.0
100.6104.5111.5120.7128.4
137.1136.4140.6151.0
138.1138.8138.2140.6
141.5144.7147.1151.0
88162.6
7.0
6.97.06.76.36.;
6.47,79.1
10.210.8
11.512.513,414."16.3
18.320.723.226.129.2
32.436.541,146.250.0
54.560.164.871.476.9
85.695.9
112.7131.7146.9
159.3171.2189.7211.4235.4
255.7279.9302.1351.3
283.3289.5295.8302.1
311.3323.4337.0351.3
360.9378.2394,2
1.8
2.33.(3.74.14.2
4 3€9.8
13.617,1
22.126.629.3
36.2
42.947.851.655/59.
62.365.669.473.477.2
81.284.188.293.4
100.2
109.2120.7131.1135.0140.2
147.0154.1161.7176.4199,0
225.1238.9248.9279.8
240.5241.6246.8248.9
252.5261.1273.7279.8
286.8290.5
1.8
2.3
4J4.2
6J9.3
12.515.0
18.822.925.428.132.1
38.943.947.250.153.8
56.4
B5.S
73.176.179.984.490.2
97,3105.2113,0116.2121.3
127.7133.5141.6153.4172.9
195.2207.6217.9248.8
209.0209.8214.8217,9
222.1230.0241.7248.8
255.9260.5
1.8
2.33.03.74.14,:
4.13.3.85.36.9
8.59.7
10.812.012.8
14.315.516.519.723.8
26.729.532.335.038.3
42.044.847.450.654.5
59.965.768.266.265.1
66.166.568.07 1 /8
93.6101.3108.0127.4
102.0102.7106.2108.0
110.8115.8123.8127.4
131.1133.6
0.22.45.57.:8.1
10.313.214.616.119.3
24.628.<30.730.430.0
29.729.629.930.930.9
31.131.332.533,835.7
37.339.544.750.056.2
61.667.073.682.092.0
101.6106.2109.9121.4
107.0107.1108.6109.9
111,3114.3117.9121.4
124.8126.9
27.1
27.728.227.125.825.5
26.530.634.137.340.0
44.749.154.961
78.086.894.6
105.5119.4
132.3148.5166.9188.2209.8
231.0249.3267.9290.1312.0
334.6373.5436.5505.3557.8
608.0682.3797.3926.4
1,055.7
1,154.71,242.6i;2995i;299.51,437.0
1,259.01,277.21,278.91,299.5
1,322.51,354.01,392.4lr437.0
1,472.61,525.2
14.5
15.115.414.513.713.7
14.316.918.920.822.6
26.328.933.238.043.6
49.355.160.467.677,0
85,595.5
107.1120.5134.1
147.4156.9167.4180.4193.0
200.8223.1259.2299.2329.9
367.3427.1516.2617.3718.1
791.8857.7887.9965.8
869.2880.7876.9887.9
900.0916.9940.4965.8
988.31,018.1
1 Includes negligible amount of farm loans held by savings and loan associations.1 Includes FHA insured multifamily properties, not shown separately.3 Derived figures. Total includes multifamily and commercial properties, not shown separately.Source: Board of Governors of the Federal Reserve System, based on data from various Government and private organizations.
314Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-70.—Mortgage debt outstanding by bolder, 1939-84
[Billions of dollars]
End of yearor quarter Total
Major financial institutions
TotalSavingsand loanassocia-
tions
Mutualsavingsbanks
Commer-cial
banks »
Lifeinsur-ancecom-
panies
Other holders
Federaland
relatedagen-cies3
1939.. .
1940 . . .194119421943 . .1944 ... .
1945 . .1946 ... .1947 .. .19481949
1950195119521953 .1954
1955.1956 . ..1957 . .19581959 . . ..
19601961196219631964
1965196619671968196919701971197219731974
1975..1976..1977..1978..1979..
1980..1981..1982..1983..
1982:1
n i lIV...
1983: IIIIII...IV...
1984: III...III..
35.5
36.537.636.735.334.7
35.541.848.956.262.7
72.882.391.4
101.3113.7
129.9144.5156.5171.8190.8
207.5228.0251.4278.5
. 305.9
333.3356.5381.2410.9441.4
474.2526.5603.4681.6744.3
806.1893.0
1,022.71,173.61,337.4
1,471.81,583.31,655.01,826.4
1,603.41,624.31,632.21,655.0
1,681.91,723.11,775.11,826.4
1,869.41,926.61,982.6
18.6
19.520.720.720.220.2
21.026.031.837.842.9
51.759.566.975.185.7
99.3111.2119.7131.5145.5
157.6172.6192.5217.1241.0
264.6280.8298.8319.9339.1
355.9394.2450,0505.4542.6
581.2647.5745.2848.2938.2
997.21,040.81,023.61,110.0
1,042.31,042.91,027.11,023.6
1,029.11,048.71,079.61,110.0
1,136.21,179.61,219.7
3.8
4.14.64.64.64.8
5.47.18.9
10.311.6
13.715.618.422.026.1
31.435.740.045.653.1
60.168.878.890.9
101.3
110.3114,4121.8130.8140.2
150.3174.3206.2231.7249.3
278.6323.0381.2432.8475.7
503.2518.5483.6493.4
516.5513.7494.9483.6
477.0474.5482.3493.4
502.1526.7544.3
4.8
4.94.84.64.44.3
4.24.44.95.86.7
8.39.9
11.412.915.0
17.519.721.223.325.0
26.929.132.336.240.6
44.647.350.553.556.1
57.962.067.673.274.9
77.281.688.295.298.9
99.9100.097.8
136.1
97.596.394.497.8
105.4119.2129.6136.1
143.2147.5155.1
4.3
4.64.94.74.54.4
4.87.29.4
10.911.6
13.714.715.916.918.6
21.022.723.325.528.1
28.830.434.539.444.0
49.754.459.065.770.7
73.382.599.3
119.1132.1
136.2151.3179.0214.0245.2
263.0284.5300.2328.9
289.5293.2297.3300.2
303.4310.2320.3328.9
338.9351.5364,5
5.7
6.06.46.76.76.7
6.67.28.7
10.812.9
16.119.321.323.326.0
29.433.035.237.139.2
41.844.246.950.555.2
60.064.667.570.072.0
74,475.576.981.486.2
89.291.696.8
106.2118.4
131.1137.7142.0151.6
138.8139.7140.5142.0
143.3144.7147.4151.6
152.0153.8155.8
5.0
4.94.74.33.63.0
2.42.01.81.82.3
2.83.54.14.64.8
5.36.27.78.0
10.2
11.512.212.611.812.2
13.517.520.925.131.1
38.346.454.664.882.1
101.0116.6140.3170.4215.8
256.5289.1354.8432.4
301.0315.1332.8354.8
374.6394.8414.8432.4
447.3457.7471.0
1 Includes loans held by nondeposit trust companies, but not by bank trust departments.2Includes former Federal National Mortgage Association (FNMA) and new Government National Mortgage Association (GNMA), as wellas Federal Housing Administration; Veterans Administration, Public Housing Administration, Farmers Home Administration, and in earlieryears Reconstruction Finance Corporation, Homeowners Loan Corporation, and Federal Farm Mortgage Corporation. Also Includes GNMAPools and U.S.-sponsored agencies such as new FNMA, Federal Land Banks, and Federal Home Loan Mortgage Corporation. Other U.S.agencies (amounts small or current separate data not readily available) included with "individuals and others.
Source: Board of Governors of tf\e Federal Reserve System, based on data from various Government and private organizations.
315
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-71.—Federal budget receipts, outlays, and debt, fiscal years 1976-86
[Including outlays off-budget under current taw '; millions of dollars; fiscal years]
DescriptionActual
1976 1977 1978 1979 1980
BUDGET RECEIPTS AND OUTLAYS:
Total receipts
Federal fundsTrust fundsInterfund transactions..
Total outlays
Federal fundsTrust fundsInterfund transactions
Total surplus or deficit ( - ) . . . ,
Federal fundsTrust funds
OUTSTANDING DEBT, END OF PERIOD:
Gross Federal debt
eld by the public.
Federal Reserve System.,Other
298,060
201,099132,509-35,548
371,779
277,228130,099-35,548
-73,719
-76,1292,410
631,866
151,566480,300
94,714385,586
355,559
241,312151,503-37,256
409,203
304,459142,000
-37,256
-53,644
-63,1479,502
709,138
157,295551,843
105,004446,839
399,740
270,670166,467-37,397
458,729
342,355153,771-37,397
-58,989
-71,68512,696
780,425
169,477610,948
115,480495,468
463,302
316,366188,072-41,136
503,464
374,867169,733-41,136
-40,161
-58,50118,340
833,751
189,162644,589
115,594528,995
517,112
350,856212,106-45,850
590,920
433,468203,302-45,850
-73,808
-82,6128,804
914,317
199,212715,105
120,846594,259
BUDGET RECEIPTS...
Individual income taxesCorporation income taxesSocial insurance taxes and contributionsExcise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts:
Deposits of earnings by Federal Reserve System..Another .! ..
BUDGET OUTLAYS
National defenseInternational affairs ,General science, space, and technologyEnergy ,Natural resources and environmentAgricultureCommerce and housing creditTransportationCommunity and regional developmentEducation, training, employment, and social services..HealthSocial security and medicare
Social securityMedicare
Income securityVeterans benefits and servicesAdministration of justiceGeneral governmentGeneral purpose fiscal assistanceNet InterestAllowancesUndistributed offsetting receipts
Employer share, employee retirement:Military retireo payOther
Rents and n ,_ . .Sale of Conrail...
298,060
131,60341,40990,76916,9635,2164,074
5,4512,576
371,779
89,6196,4334,3734,2048,1843,1707,619
13,7395,442
18,91015,73489,73673,90315,83460,78418,4333,3242,5197,232
26,711
355,559
157,62654,892
106,48517,5487,3275,150
5,908623
409,203
97,2416,3534,7365,770
10,0326,7873,093
14,8297,021
21,10417,302
104,41485,06819,34561,04418,0383,6023,2679,569
29,878
399,740
59,952120,96718,3765,2856,753
6,641778
458,729
104,4957,4824,9267,992
10,98311,3576,254
15,52111,84126,71018,524
116,62993,86122,76861,48818,9783,8103,5768,442
35,441
463,302
217,84165,677
138,93918,7455,4117,439
8,327925
503,464
116,3427,4595,2359,180
12,13511,2364,686
17,53210,48030,22320,494
130.567104,07326,49566,35919,9314,1693,9288,369
42,615
-14,386
-7,482-4,242-2,662
-14,879
-7,957-4,548-2,374
-15,720
-8,478-4,983-2,259
-17,476
=8,938-5,271=3,267
517,112
244,06964,600
157,80324,3296,3897,174
11,767981
590,920
133,99512,7145,832
10,15613,8588,8399,390
21,32911,25231,84323,169
150,638118,54832,09086,53921,1854,5824,4488,582
52,512
-19,942
-10,055-5,787-4,101
1 Outlays off-budget under current law are proposed to be on-budget.See next page for continuation of table.
316Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-71.—Federal budget receipts, outlays, and debt, fiscal years 1976-86—Continued
[Including outlays off-budget under current law »; millions of dollars; fiscal years]
DescriptionActual
1981 1982 1983 1984
Estimates
1985 1986
BUDGET RECEIPTS AND OUTLAYS:
Total receipts
Federal fundsTrust fundsInterfund transactions...
Total outlays..
Federal fundsTrust fundsInterfund transactions..
Total surplus or deficit ( - )
Federal fundsTrust funds
OUTSTANDING DEBT, END OF PERIOD:
Gross Federal debt
Held by Government agencies...Held by the public
Federal Reserve System..Other
599,272
410,422240,601-51,751
678,209
496,182233,778
-51,751
-78,936
-85,7606,823
1,003,941
209,507794,434
124,466669,968
617,766
409,253270,138-61,625
745,706
543,437263,894-61,625
-127,940
-134,1846,244
1,146,987
217,560929,427
134,497794,930
600,562
382,432319,363
-101,233
808,327
613,277296,282
-101,233
-207,764
-230,84523,081
1,381,886
240,1161,141,770
155,527986,243
666,457
418,095338,103-89,740
851,781
636,324305,198
-89,740
-185,324
-218,22932,905
1,576,748
264,1591,312,589
155,1221,157,467
736,859
459,314396,495
-118,950
959,085
731,630346,405
-118,950
-222,226
-272,31650,090
1,841,077
327,1101,513,967
793,729
493,534421,302
-121,107
973,725
734,931359,901
-121,107
-179,996
-241,39761,401
2,074,231
387,6421,686,589
BUDGET RECEIPTS...
Individual income taxesCorporation income taxesSocial insurance taxes and contributionsExcise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts:
Deposits of earnings by Federal ReserveSystem
All other
BUDGET OUTLAYS..
National defenseInternational affairsGeneral science, space, and technologyEnergyNaturai resources and environmentAgricultureCommerce and housing credit .TransportationCommunity and regional developmentEducation, training, employment, and social serv-
icesHealthSocial security and medicare
Social securityMedicare
Income securityVeterans benefits and servicesAdministration of justiceGeneral governmentGeneral purpose fiscal assistanceNet interestAllowancesUndistributed offsetting receipts
Employer share, employee retirement:
OtherRents and royalties on the Outer Continental
ShelfSale of Conrail
599,272
285,91761,137182,72040,8396,7878,083
12,834956
678,209
157,51313,1046,46915,16613.56811,3238,206
23,37910,568
33,70926,866178,733139,58539,14999,72322,9914,7624,5826,854
68,734
617,766
297,74449,207
201,49836,3117,9918,854
15,186976
745,706
185,30912,3007,200
13,52712,99815,9446,256
20,6258,347
27,02927,445
202,532155,96446,567107,71723,9584,7034,5326,390
84,995
600,562
288,93837,022
208,99435,3006,0538,655
14,4921,109
808,327
209,90311,8487,9359,35312,67222,9016,681
21,3347,560
26,60628,641
223,311170,72452,588
122,59824,8465,0994,7896,452
89,774
666,457
296,20656,893
241,65137,3616,01011,370
15,6841,281
851,781
227,41315,8768,3177,08612.59113,6136,917
23,6697,673
27,57930,417
235,764178,22357,540112,66825,6145,6605,0536,770
111,058
-28,041
-11,532-6,371
-10,138
-26,099
-12,829-7,020
-6,250
-33,976
-15,362-8,122
-10,491
-31,957
-16,503-8,760
736,859
329,67766,403
268,36736,9955,60311,809
16,4191,585
959,085
253,83019,5838,7408,16413,02420,1655,987
26,9948,553
30,43433,879
257,363191,10766,256127,24026,8506,6865,7826,552
130,4261,131
-32,296
-17,017-9,977
-5,302
793,729
358,88974,088
289,43634,9985,34512,342
16,9321,698
973,725
285,66918,3499,2854,671
11.88412,6292,206
25,8607,323
29,28834,920
269,404202,24567,158
115,76926,769
6,5874,8452,797
142,550399
-37,478
-18,232-10,730
-7,317-1,200
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, not shown here.
Refunds of receipts are excluded from receipts and outlays.See "Budget of the United States Government, Fiscal Year 1986" for additional information.Sources: Department of the Treasury and Office of Management and Budget.
317
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-72.—Federal budget receipts, outlays, components, and debt, selected fiscal years 1929-86[Bil l ions of dol lars]
Fiscal year or period
Budget totals
(Including outlays off-budget undercurrent law, which are proposed to be
included on-tMJdget)
Receipts OutlaysSurplus or
deficit
Components of budget
Outlays
Off-budgetunder
currentlaw;
proposed tobe includedon-budget
On-budget under currentlaw
OutlaysSurplus or
deficit()
Gross Federal debt (endof period)
Total Hefd bythe public
Adden-dum:Gross
nationalproduct
192919331939 :...::;;::::.:19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959I960....1961196219631964
19651966196719681969
1970197119721973197419751976Transition quarter,..197719781979
19801981198219831984
1985 *1986 *
3.92.05.0
6.58.7
14.624.043.7
45.239.338.541.639.4
39.451.666.269.669.7
65.574.680.079.679.2
92.594.499.7106.6112.6
116.8130.8148.8153.0186.9
192.8187.1207.3230.8263.2
279.1298.181.2
355.6399.7463.3
517.1599.3617.8600.6666.5
736.9793J
3.14.68.8
9.513.735.178.691.3
92.755.234.529.838.8
42.645.567.776.170.9
68.470.676.682.492.1
92.297.7106.8111.3118.5
118.2134.5157.5178.1183.6
195.6210.2230.7245.7269.4
332.3371.896.0
409.2458.7503.5
590.9678.2745.7808.3851.8
959.1973.7
07- 2 . 6- 3 . 9
- 2 . 9- 4 . 9
-20 .5-54.6-47.6
-47.6-15.9
4.011.8
- 3 . 16.1
- 1 . 5- 6 . 5- 1 . 2
- 3 . 03.93.4
- 2 . 8-12.8
- X 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
-=53.2-73.7-14.7-53.6-59.0-40.2
-73.8-78.9
-127.9-207.8-185.3
-222.2-180.0
0.11.48.17.31.88.7
10.412.5
14.221.017.312.410.0
12.51.5
9.513.735.178.691.3
92.755.234.529.838.8
42.645.567.776.170.9
68.470.676.682.492.1
92.297.7
106.8111.3118.5
118.2134.5157.5178.1183.6
195.6210.2230.7245.6267.9
324.2364.594.2
400.5448.4491.0
576.7657.2728.4796.0841.8
946.6972.2
- 2 . 9- 4 . 9
-20.5-54.6-47.6
-47.6-15.9
4.011.8
.6
- 3 . 16.1
- 1 . 5- 6 . 5- 1 . 2
- 3 . 03.93.4
- 2 . 8-12 .8
X3-7 .1- 4 . 8-5 .9
-1 .4- 3 . 7-8 .6
-25.23.2
- 2 . 8-23.0-23.4-14.8- 4 . 7
-45 .2-66.4-13,0-44.9-48.6-27.7
-59.6»57.9
-110.6-195.4-175.4
- 209.8-178.5
U6.91 22.5
48.2
50.757.579.2
142.6204.1
260.1271.0257.1252.0252.6
256.9255.3259.1266.0270.8
274.4272.8272.4279.7287.8
290.9292.9303.3310.8316.8
323.2329.5341.3369.8367.1
382.6409.5437.3468.4486.2
544.1631.9646.4709.1780.4833.8
914.31,003.91,147.01,381.91,576.7
1,841.12,074.2
41.4
42.848.267.8
127.8184.8
235.2241.9224.3216.3214.3
219.0214.3214.8218.4224.5
226.6222.2219.4226.4235.0
237.2238.6248.4254.5257,6
261.6264.7267.5290.6279.5
284.9304.3323.8343.0346.1
396.9480.3498.3551.8610.9644.6
715.1794.4929.4
1,141.81,312.6
1,514.01,686.6
95.0109.0139.0177.0202.0
217.0202.0221.3245.5261.8
265.1312.8339.3361.3364.2
380.6411.8433.9443.1474.4
497.9509.3548.2578.0618.2
659.5724.1777.3831.3910.6
968.81,031.51,128.81,252.01,379.4
1,479.91,640.1
432.21,862.82,091.32,357.7
2,575.82,885.93,046.03,221.43,581.1
3,868.54,198.5
1 Not strictly comparable with later data.* 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.
Data for 1929-39 are according to the administrative budget and those beginning 1940 according to the unified budget.Refunds of receipts are excluded from receipts and outlays.See "Budget of the United States Government, Fiscal Year 1986" for additional information.Sources: Department of the Treasury, Office of Management and Budget, and Department of Commerce (Bureau of Economic
Analysis),
318
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-73.—Relation of Federal Government receipts and expenditures in the national income andproduct accounts to the unified budget, fiscal years 2984-86
[Billions of dollars; fiscal years]
Receipts and expenditures
RECEIPTS
Total budget receipts
Government contributions for employee retirement (grossing) .Other netting and grossingTiming adjustments...Geographic exclusions.Other . . . .
Federal sector, national income and product accounts, receipts
EXPENDITURES
Total budget outlays
Lending and financial transactions ,Government contributions for employee retirement (grossing)Other netting and grossingDefense timing adjustmentBonuses on Outer Continental Shelf land leasesGeographic exclusions
Federal sector national income and oroduct accounts exDenditures
1984
666.5
13.112.3
- 2 . 8- 1 . 8
687.6
851.8
18.213.112.32.23.55.0
— 1.8
857.9
1985
736.9
14.713.9
- 5 . 3- 1 . 9
.2
758.5
959.1
- 3 6 . 514.713.9
1.51.75.2
—.7948.5
Estimate
1986
793 7
15.116.13.4
- 2 . 1.4
826.6
973.7
- 1 3 . 015.116.1
.94.0
- 5 . 21.1
992.7
Note.-See Note, Table B-72.Data are revised to include the outlays of Federal entities that are off-budget under current law and proposed to be included on-
budBetSee Special Analysis B, "Special Analyses, Budget of the United States Government, Fiscal Year 1986" for description of these
categories.Sources: Department of Commerce (Bureau of Economic Analysis), Department of the Treasury, and Office of Management and
319Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-74.—Federal and State and local government receipts and expenditures, national income andproduct accounts, 1929-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Calendar year or quarter
Total government
Expendi-tures
Surplus ordeficit
nationalincome
andproduct
accounts
Federal Government
Receipts Expendi-tures
Surplus ordeficit
nationalincome
andproduct
accounts
State and localgovernment
Receipts Expendi-tures
Surplus ordeficit
nationalincome
andproduct
accounts
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
I960196119621963196419651966196719681969
1970197119721973197419751976197719781979
19801981198219831984 "1982:IIIIllIV
1983:IIIHI....IV
1984:
IIIIIIV
11,39.315.4
17.725.032.649.251.253.251.056.958.955.9
69.085290.194.689.9101.1109.7116.2115.0129.4
1395144.8156.7168.5174.0188 3212.3228.2263.1296.7
302.8322.6368 3413.14552470,5538.4605.4681.9765.1
838.3956,9974.8
1,033.01,133.8
970.4980.8972 8975.3
992.61,036.51,039.61,063.4
1,105.41,131.61,138.7
10.310.717.6
18.428.864.093.3
103.092.745.642.550.559.3
61.079.293.9
101.697.098.0
104.5115.2127.6131.0
136.4149.1160.5167.8176.3187.8213.6242.4269.1286.8
313.4342.0371.6405.3460.0534.3574.9623.3681.1750.8
983.61,090.11,167.51,258.1
1,044.21,058.51,103.11,154.5
1,144.31,160.01,173.11,192.8
1,212.81,240.81,271.71,307.3
1.0- 1 . 4- 2 . 2
- . 7- 3 . 8
-31.4-44.1-51.8-39.5
5.414.48.4
- 3 . 4
8.06.1
- 3 . 8-6 .9- 7 . 1
3.15.2
.9-12.6- 1 . 6
3.1- 4 , 3^3.8
-iz- U
-14.2- 6 . 0
9.9
-10 .6-19.4- 3 . 3
7.8-4 .7
-63 .8-36 .5-17.8
.814.3
-30.7-26.7
-115.3-134.5-124.4
-73.8-77 .6
-130.4-179.2
-151.7-123.4-133.5-129.3
-107.4-109.2-133.0
3.82.76.7
8.615.422.939.341.042.539.143.243.238.7
50.064.367.370.063.772.678.081.978.7
96.198.1
106.2114.4114.9124.3141.8150.5174.4196.9
191.9198.6227.5258.6287.8287.3331.8375.2431.6493.6
540.9624.8616.7641.1703.5
622.9625.9609.9608.3
619.8649.3640.2655.0
686.4704.3706.2
2.64.08.9
10.020.556.185.895.584.635.629.834.941.3
40.857.871.177.169.868.171.979.688.991.0
93.1101.9110.4114.2118.2123.8143.6163.7180.5188.4
204.3220.6244.3264.2299.3356.6384.8421.1461.0509.7
602.1689.1764.9819.7879.9
729.3737.9773.6818.9
805.6816.7821.1835.5
847.6868.0886.8917.3
1.2- 1 . 3- 2 . 2
- 1 . 3- 5 . 1
-33.1-46.6-54.5-42.1
3.513.48.3
- 2 . 6
9.26.5
- 3 . 7- 7 . 1- 6 . 0
4.46.12.3
-10.3- 1 . 1
3.0- 3 . 9- 4 . 2
.3- 3 . 3
- L 8-13.2- 6 . 0
8.4
-12.4-22.0-16.8- 5 . 6
-11 .5-69.3=53.1-45.9-29.5-16 .1
-61 .2-64.3
-148.2-178.6-176.4
-106.3-112.0-163.7-210.6
-185.7-167.3-180.9-180.5
-161.3-163.7-180.6
7.67.29.6
10.010.410.610.911.111.613.015.417.719.5
21.323.425.427.429.031.735.038.542.046.4
49.954.058.563.269.575.184.893.6
107.3120.2
135.4153.0178.3195.0211,4237,7267.8297.7327.6352.0
386.1420.0441.9478.2523.2
430.1440.1445.9451.6
458.3473.5486.1495.0
509.6520.6524.6
7.87.29.6
9.39.18.88.48.59.0
11.114,417.620.2
22.523.925.527.330.232.935.939.844.346.9
49.854.458.062.868.575.184.394.7
107.2118.7
133.5150.4164.8181.6204.6232.2251.2269.7297.3321.5
355.5382.4409.0434.1471.1
397.6405.7412.6420.2
424.2429.6438.7443.8
455.7466.1477.0485.8
Note.—Federal erants-in-aid to State and local governments are reflected in Federal expenditures and State and local receipts. Totalgovernment receipts and expenditures have been adjusted to ©" - • - - * - " -= - JIjusted to eliminate this duplication.
Source: Department of Commerce, Bureau of Economic Analysis.
320Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-75.—Federal and State and local government receipts and expenditures, national income andproduct accounts, by major type, 1929-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Receipts
Total
Per-sonaltaxand
nontaxre-
ceipts
Corpo-rate
profitstax ac-cruals
In-directbust-nesstaxandnon-taxac-
cruals
Contri-buttons
forsocial
Expenditures
Total *
Pur-chases
of Trans-fer
ments
Net interest paid
Total
Inter-est re-ceived
bygovern-
ment
Less:Divi-
dendsre-
ceivedby
govern-ment
Subsi-dieslesscur-rentsur-
plus ofgovern'meritenter-
Surplusor
deficit(-).
na-tional
incomeand
prod-uct ac-counts
192919331939
194019411942194319441945194619471948...1949
1950195119521953195419551956195719581959
19601961196219631964.....19651966.....196719681969
1970197119721973197419751976197719781979
19801981198219831984 *
1982:IIIHIIV
1983:
n'ZZZ!iniv
1984:
IIillIV "...
11.39.315.4
17.725.032.649.251.253.251.056.958.955.9
69.085.290.194.689.9101.1109.7116.2115.0129.4
139.5144.8156.7168.5174.0188.3212.3228.2263.1296.7
302.8322.6368.3413.1455.2470.5538.4605.4681.9765.1
838.3956.9974.8
1,033.01,133.8
970.4980.8972.8975.3
992.6,036.5
1,039.61,063.4
1,105.41,131.61,138.7.,159.4
2.61.42.4
2.6
5.117.818.920.818.721.421.018.5
20.628.934.035.532.535.439.742.442.146.0
50.452.156.860.358.664.974.582.197.2
115.7
115.8116.7141.0150.7170.2168.9196.8226.4258.7301.0
336.5387.7404.1404.2435.1
404.4411.4398.5402.0
401.4411.6395.8407.9
418.3430.3440.9451.0
1.4
L4
2.87.6
11.414.112.910.79.1
11.312.410.2
17.922.619.420.317.622.022.021.419.023.6
22.722.824.026.228.030.933.732.539.239.5
34.237.541.649.051.650.663.872.783.287.6
84.881.160.775.8
62.962.961.955.0
59.174.884.784.5
92.795.883.182.2
7.17.19.4
10.111.311.812.814.215.517.118.420.121.3
23.425.327.729.729.632.235.137.538.741.8
45.448.051.654,658.862.665.370.278.986.6
94.3103.7111.5120.9129.1140.1151.7165.7178.2189.6
213.4251.3258.8280.4304.3
254.7256.0260.1264.2
266.9279.9284.7290.1
295.5301.3306.6313.7
0.2
tl
2.32.83.54.55.26.16.15.85.45.9
7.18.59.09.1
10.111.512.914.915.218.0
21.121.924.327.328.730.038.843.447.955.0
58.664.674.292.4
104.3110.9126.0140.6161.8186.9
203.7236.8251.3272.7305.9
248.3250.4252.3254.1
265.3270.2274.3281.0
298.9304.2308.1312.6
10.310.717.6
18.428.864.093.3
103.092.745.642.550.559.3
61.079.293.9
101.697.098.0
104.5115.2127.6131.0
136.4149.1160.5167.8176.3187.8213.6242.4269.1286.8
313.4342.0371.6405.3460.0534.3574.9623.3681.1750.8
869.0983.6
1,090.11,167.51,258.1
1,044.2L.058.5L.103.11,154.5
L,144.31,160.0,173.1.,192.8
,212.8,240.8,271.7,307.3
8.88.2
13.5
14.24.959.888.997.082.827.525.5
•32.038.4
38.560.175.682.575.875.079.487.195.097.6
100.3108.2118.0123.7129.8138.4158.7180.2199.0208.8
220.1234.9253.1270.4304.1339.9362.1393.8431.9474.4
537.8596.5650.5685.5748.0
630.9633.7656.3681.0
678.8682.2689.8691.4
704.4743.7761.0782.7
1.01.52.6
2.72.62.2.43.06.0
13.113.114.516.8
18.014.814.214.916.918.319.221.926.127.1
28.932.933.835.636.939.843.951.758.664.8
78.392.6
102.6116.6138.6173.9189.6202.5218.4244.2
291.2330.0368.2396.3407.1
348.3357.8374.2392.7
390.1398.1394.5402.6
401.2404.4408.7414.1
0.71.01.1
1-2
1.41.92.43.24.14.24.24.3
4.44.54.54.64.74.75.25.65.36.3
6.96.46.97.47.98.18.58.9
10.311.5
12.312.412.915.216.418.923,125.129.030.6
36.353.265.372.391.5
60.964.168.567.7
67.368.474.878.7
83.685.996.1
100.2
10.19.9
10.811.612.513.214.515.718.119.8
22.323.124.829.633.638.144.749.158.470.9
86.6114.4135.3151.9181.9
128.3133.1139.2140.6
142.6146.9156.0162.0
169.5175.5188.0194.8
3.33.53.94.24.65.16.06.87.78.3
9.910.711.914.417.119.221.524.029.440.3
50.361.270.079.590.5
67.469.070.872.9
75.378.581.183.2
85.989.691.994.6
!8.8.8
1.31.71.9
1.82.12.82.62.8
-0 .2- . 0
.4
.4
.1
.1
.1
.6
.7
- .1
.1- . 1
- . 3- . 0
.7
.71.1
.41.71.81.11.71.62.51.61.41.9
2.92.63.83.41.12.41.03.13.73.4
5.56.18.8
15.614.4
1.0- 1 . 4-2 .2
-1 :8-31 .4-44 .1-51.8-39 .5
5.414.48.4
- 3 . 48.06.1
- 3 . 8- 6 . 9- 7 . 1
3.15.2.9
-12.6-1 .6
3.1- 4 . 3- 3 . 8
-M
-i.3-14.2
- 6 . 09.9
-10.6-19.4- 3 . 3
7.8- 4 . 7
-63 .8-36 .5-17.8
.814.3
-30 .7-26.7-115.3-134.5-124.4
6.65.77.1
15.9
10.812.716.222.6
26.49.68.4
13.3
-73 .8-77 .6-130.4-179.2
-151.7-123.4-133.5-129.3
-107.4-109.2-133.0-147.9
1 Includes an item for the difference between wage accruals and disbursements, not shown separately.Source: Department of Commerce, Bureau of Economic Analysis.
321Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-76.—Federal Government receipts and expenditures, national income and product accounts,
1960-86
[Billions of dollars; quarterly data at seasonally adjusted annual fates]
Year orquarter
Fiscal:2
19601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985 0....1986'....
lX'196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984 ^....
1983:
\\Z""..Z.tit ,IV
1984:
ItIllIV P
Receipts
Total
94.895.0
104.0110.0115.6120.0132.7146.0159.9189.8194.8192.4213.4240.7271.6283.4314.9365.9414.3480.8525.9609.2626.4627.1687.6758.5826.6
96.198.1
106.2114.4114.9124.3141.8150.5174.4196.9191.9198.6227.5258.6287.8287.3331.8375.2431.6493.6540.9624.8616.7641.1703.5
619.8649.3640.2655.0
686.4704.3706.2
'ersonaltax andnontax
receipts
42.543.647.349.650.751.457.564.471.490.294.087.9
100.5107.4122.7127.5137.2166.3186.5222.6250.4289.4311.4294.1303.2340.6368.8
43.644.748.651.548.653.961.767.579.795.192.690.3
108.2114.7131.3125.8147.3170.1194.9230.6257.7298.7306.2295.2314.8
298.2304.7284.6293.3
301.6310.7319 7327.3
Corpo-rate
profitstax
accruals
22.320.022.723.325.727.130.830.333.136.832.931.934.241.243.441.852.558.967.376.169.969.350.953.870.175.793.1
21.421.522.524.626.128.931.430.036.136.130.633.536.643.345.143.654.661.671.374.270.365.746.659.869.7
46.959.266.766.5
73 075 665*3
Indirectbusinesstax andnontax
accruals
13.213.314.215.015.616.915.515.817.118.619.220.019.920.721.422.224.324.527.229.135.553.550.351.055.256.157.1
13.413.614.615.316.216.515.616.318.019.019.320.420.021.221.723.923.425.028.129.439.056.448.452.455.7
47.153.854.054.5
541553561
Contri-butions
forsocialinsur-ance
16.718.119.922.123.624.528.935.538.344.248.852.658.971.584.291.9
101.0116.2133.3153.1170.0197.0213.9228.3259.1286.1307.6
17.618.320.523.124.025.033.136.740.746.749.354.462.779.589.894.1
106.5118.5137.2159.5173.9204.1215.5233.7263.4
227.6231.7234.9240.7
257 626202652
Expenditures
Total i
91.398.1
106.2111.7117.2118.51327154.9172.2184.6195.5212.9232.7255.7278.2328.8370.7411.2450.4495.6576.5668.2740.0816.4857.9948.5992.7
93.1101.9110.4114.2118.2123.8143.6163.7180.5188.4204.3220.6244.3264.2299.3356.6384.8421.1461.0509.7602.1689.1764.9819.7879.9
805.6816.7821.1835.5
847 6868C886$91713
Purchases ofgoods and
services
Total
52,955,861.063.765.964.672.486.095.098.097.194.9
100.6101.1104.5117.9125.1139.8150.4164.1189.3218.4250.6273.2285.2326.8354.9
53.757.463.764.665.267.378.890.998.097.695.796,2
101.7102.0111.0122.7129.2143.4153.6168.3197.0228.9258.9269.7295.5
273.0270.5269.2266.3
267 62964302 C316ll
Nationaldefense
44.546.249.750.050.247.954.167.074.976.175.372.272.272.873.680.284.491.497.8
108.2126.0147.0173.0196.7215.4241.5271.7
44.547.051.150.349.049.460.371.576.976.373.670.273.172.877.083.086.092.8
100.3111.8131.2153.7179.5200.5221.5
194.7199.3200.9207.2
213.4220 8220'23ll4
Transferpayments
Topersons
20.623.625.126,527.428.431.837.242.748,755.067.776.187,2
101.8131.4153.8166.6178.7197.8234.6273.7304.5338.3340.7361.0377.6
21.625.025.627.027.930.333.540.146.050.661.372.780.593.3
114.5146.3158.8169.6181.8205.0246.2281.2315.3338.7344.7
335.6341.9337.1340.0
34113437346234718
Toforeign-
ers
1.82.12.12.12.22.22.32.22.12.22.02.32.82.73.03.13.03.23.54.14.85.76.16.37.7
10.29.9
1.92,12.22.22.22.22.32.22.12.12.22.62.72.63.23.13.23.33.84.25.35.66.37.07.6
5.36.26.4
10.1
66
9lf
Grants-n-aid toStateandlocal
govern-ments
6.96.97.68.39.8
10.912.714.817.819.222.626.832.640.441.648.457.566.374.779.186.790.183.485.790.8
100.096.1
6.57.28.09.1
10.411.114.415.918.620.324.429.037.540.643.954.661.167.577.380.588.787,983.986.392.9
85.586.386.786.5
90 693 292]
Netnter-estpaid
6.86.46.47.17.78.28.79.6
10.411.913.514.014.015.719.621.725,228.433.540.650.767.782.390.3
109.7129.6142.8
6.86.26.87.38.08.49.29.8
11.312.714.113.814.418.020.723.126.829.135.242.453.473.384.494.2
116.8
87.790.097.3
102.0
107 6110?122 C12616
Subsi-diesless
currentsurplus
ofgovern-
mententer-prises
2.43.34.14.04.14.34.85.24.14.75.57.06.59.27.66.06.26.99.79.9
10.412.513.022.223.920.811.4
2.64.04.23.94.54.65.54.74.55.26.56.37.97.85 56.95.88.29.59.2
11.512.316.123.422.5
18.520.524.130.6
34 41711652ll5
Surplus
deficit
nationalincome
andproduct
accounts
3.4-3 .1
2.2-1 .7-1 .5
1.4.0
-8 .9-12.3
5.2-.7
-20.5-19 .2= 14.9
-6 .6-45.4= 55.8-45.3=36.1-14.8-50.7=58.9
= 113.6~ 189,3-170.3-190.0-166.1
3.0- 3 . 9
4.2.3
=3.3.5
-1 .8-13.2
- 6 . 08.4
-12.4-22.0-16.8
-5 .6= 11.5=$9.3-53.1-45.9-29.5-16.1-61.2-64.3
-148.2-178.6-176.4
-185.7= 167.3-180.9= 180.5
—161.3—163.7—180.6
1 Includes an item for the difference between \ v r2 Under provisions of the Congressional Budget Act of 1974, the fiscal year for the Federal Government shifted beginning with fiscalyear 1977. Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), thefiscal year is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separatefiscal period known as the transition quarter.
» Estimates.Sources: Department of Commerce (Bureau of Economic Analysis) and Office of Management and Budget.
322Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-77.—State and heal government receipts and expenditures, national income and product accounts,
1946-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Calendar yearor quarter
Receipts
TotalPersonaltax andnontaxreceipts
Corpo-rate
profitstax
accruals
Indirect
tax andnontax
accruals
Contribu-tions for
socialinsurance
Federalgrants *
Expenditures
Total1
Pur-chases
ofgoodsand
services
Trans-ferpay-
mentsto
per-sons
Netinterest
paidlessdivi-
dendsreceived
Subsi-diesless
currentsurplus
ofgovern-
mententer-prises
Surplusor
deficit
nationalincome
andproduct
accounts
L946194719481949
1950.1951195219531954
1955195619571958
I9601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984 P.
1982:
||IllIV..
1983:IlitIV ..
1984:||jIIIIV *
13,015417.719.5
21323.425.427.429.0
31.735.038.542 046.4
49.954 058.563 269.5
75.184 893.6107 3120.2
135.4153.0178 3195.0211.4
237.7267 8297.7
352 0
3861420.0441.9478.2523.2
430.1440.1445.9451.6
458.3473.54861495.0
509.6520.6524.6
1.51.72.12.4
2.52.83.03.23.5
3.9.4.55.05.46.1
6.77.48.28.8
10.0
10.912.814.617.520.6
23.226.432.836.039.0
43.149.656.3
1178.889.097.8
109.0120.3
94.496.299.7
101.1
103.1106.9111.3114.6
116.7119.6121.2123.7
0.5.6
.6
.8
.9
.8
.8
.8
1.01.01.01.01.2
1.21.31.51.71.8
2.02.22.53.13.4
3.54,15.05.86.5
7.19.3
11.111.913.4
14.515.414.016.018.8
14.414.514.412.9
12.215.618.018.0
19.720.217.8
9.310.712.213.3
14.615.917.418.819.9
21.623.825.727.229.3
32.034.437.039.442.6
46.149.754.060.967.6
75.083.391.599.7
107.4
116.2128.3140.7150.0160.2
174.4194.9210.3228.0248.6
204.1208.7212.5216.0
219.7226.1230.7235.6
241.4245.4250.5257.2
0.6
'.B.9
1.11.41.61.72.0
2.12.32.62.83.1
3.43.73.94.24.7
5.05.76.77.28.3
9.210.211.513.014.6
16.819.522.124.727.4
29.732.735.839.042.6
34.635.536.337.0
37.738.539.440.3
41.342.143.043.8
1.11.72.02.2
2.32.52.62.82.9
3.13.34.25.66.8
6.57.28.09.1
10.4
11.114.415.918.620.3
24.429.037.540.643.9
54.661.167.577.380.5
88.787.983.986.392.9
82.785.183.084.6
85.586.386.786.5
90.693.292.195.8
11.114.417.620.2
22.523.925.527.330.2
32.935.939.844.346.9
49.854.458.062.868.5
75.184.394.7
107.2118.7
133.5150.4164.8181.6204.6
232.2251.2269.7297.3321.5
355.5382.4409.0434.1471.1
397.6405.7412.6420.2
424.2429.6438.7443.8
455.7466.1477.0485.8
9.912.815.318.0
19.821.823.225.027.8
30.633.537.141.143.7
46.550.854.359.064.6
71.179.889.3
101.0111.2
124.4138.7151.4168.5193.1
217.2232.9250.4278.3306.0
340.8367.6391.5415.8452.4
381.1388.7394.7401.6
405.8411.6420.6425.1
436.8447.4458.9466.6
1.72.33.03.0
3.63.13.33.53.6
3.83.94.34.85.1
5.45.86.06.46.9
7.38.19.4
10.512.2
14.717.319.320.720.9
24.627.629.732.835.0
39.743.246.750.754.8
45.246.047.148.3
49.250.051.052.5
53.654.454.856.5
0.2.1.1.1
!o.0.0.1
.1
A
'.I
.1
'.I
-.1
- . 3
- ! 9-1 .1- 1 . 4
- 2 . 0-1 .7-1 .9- 3 . 3- 5 . 0
- 5 . 1- 4 . 5- 5 . 3- 7 . 9
-13.8
-18.9-22.2-21.9-24.5-28.1
-21.9-21.7-21.8-22.1
-23.1-24.2-25.0-25.9
-26.7-27.7-28.7-29.2
-0 .7- . 8- . 8- . 9
- . 9- 1 . 0- 1 . 1- 1 . 2- 1 . 3
- 1 . 5- 1 . 6-1 .7- 1 . 7- 2 . 0
- 2 . 2- 2 . 3- 2 . 5- 2 . 8- 2 . 8
-3 .0- 3 . 0- 3 . 1- 3 . 2- 3 . 3
- 3 . 6- 3 . 7- 4 . 2- 4 . 3- 4 . 4
- 4 . 5-4 .8-5 .1
-7.7-7.8-7.9-7.9
-8.0-8.0-8.1-8.2
1 Includes an item for the difference between wage accruals and disbursements, not shown separately.Source: Department of Commerce, Bureau of Economic Analysis.
323Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-78,—State and local government revenues and expenditures, selected fiscal years, 1927-83[Millions of dollars]
Fiscal year»
1927
19321934 .19361938
19401942194419461948
1950195219531954
19551956195719581959
I960196119621963
1962-631963-641964-65
1965-661966-671967-681968-691969-70
1970-711971-721972-731973-741974-75
1975-761976-771977-781978-791979-801980-811981-821982-83
General revenues by source2
Total
7,271
7,2677,6788,3959,228
9,60910,41810,90812,35617,250
20,91125,18127,30729,012
31,07334,66738,16441,21945,306
50,50554,03758,25262,890
62,26968,44374,000
83,03691,197101,264114,550130,756
144,927167,541190,214207,670228,171
256,176285,157315,960343,278382,322423,404457,654486,878
Propertytaxes
4,730
4,4874,0764,0934,440
4,4304,5374,60449866,126
7,3498 6529,3759,967
10,73511,74912,86414,04714,983
16,40518,00219,05420,089
19,83321,24122,583
24,67026,04727,74730,67334,054
37,85242,87745,28347,70551,491
57,00162,52766,42264,94468,49974,96982,06789,253
Salesandgrossre-
ceiptstaxes
470
7521,0081,4841,794
1,9822,3512,28929864,442
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
33,23337,51842,04746,09849,815
54,54760,64167,59674,24779,92785,97193,613100,247
Individ-ual
incometaxes
70
7480153218224276342422543
788998
1,0651,127
1,2371,5381,7541,7591,994
2,4632,6133,0373,269
3,2673,7914,090
4,7605,8257,3088,90810,812
11,90015,22717,99419,49121,454
24,57529,24633,17636,93242,08046,42650,73855,129
Corpo-ri+innrationnet
incometaxes
92
7949113165156272451447592
593846817778744890984
1,0181,001
1,1801,2661,3081,505
1,5051,6951,929
2,0382,2272,5183,1803,738
3,4244,4165,4256,0156,642
7,2739,17410,73812,12813,32114,14315,02814,258
frnmTrOmFederalGovern-ment
116
2321,016948800945858954855
1,861
2,4862,5662,8702,966
3,1313,3353,8434,8656,377
6,9747,1317,8718,722
8,66310,00211,029
13,21415,37017,18119,15321,857
26,14631,34239,25641,82047,034
55,58962,44469,59275,16483,02990,29487,28289,983
Allother»
1,793
1,6431,4491,6041,811
1,8722,1232,2692,6613,685
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
57,19161,12468,43679,86495,466111,599128,926138,009
(
Total
7,210
7,7657,1817,6448,757
9,2299,1908,86311,02817,684
22,78726,09827,91030,701
33,72436,71140,37544,85148,887
51,87656,20160,20664,816
63,97769,30274,678
82,84393,350102,411116,728131,332
150,674168,550181,357198,959230,721
256,731274,215296,983327,517369,086407,449436,896466,421
leneral expenditures by function1
Education
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
97,216102,780110,758119,448133,211145,784154,282163,876
High-ways
1,809
1,7411,5091,4251,650
1,5731,4901,2001,6723,036
3,8034,6504,9875,527
6,4526,9537,8168,5679,592
9,4289,84410,35711,136
11,15011,66412,221
12,77013,93214,48115,41716,427
18,09519,02118,61519,94622,528
23,90723,05824,60928,44033,31134,60334,52036,655
Publicwelfare
151
444889827
1,069
1,1561,2251,1331,4092,099
2,9402,7882,9143,060
3,1683,1393,4853,8184,136
4,4044,7205,0845,481
5,4205,7666,315
6,7578,2189,85712,11014,679
18,22621,11723,58225,08528,155
32,60435,90639,14041,89847,28854,12157,99660,484
t
Altother4
3,015
3,2692,9523,2153,547
3,8623,8893,7374,5917,170
8,86710,34210,61911,557
12,19713,39914,94016,54717,876
19,32521,06322,54924,423
23,67825,58627,579
30,02933,28136,91541,96347,508
54,94062,59769,44678,09692,180
103,004112,472122,476137,731155,277172,941190,098205,406
»Fiscal i8 Excludes revenues or expenditures of publicly owned utilities and liquor stores, and of Insurance-trust activities. Intergovernmentalreceipts and payments between State and focal governments are also excluded.3 Includes licenses and other taxes and charges and miscellaneous revenues.4 Includes expenditures for hospitals, health, social insurance administration, veterans' services, air transportation, water transportand terminals, parking facilities, police protection, fire protection, correction, protective inspection and regulation, sewerage, naturalresources, parks and recreation, community development, sanitation other than sewerage, general control, financial administration,general public buildings, interest on genera! debt and unallocable items.
Note.—Data for fiscal years listetffrom 1962-63 to 1982-83 are the aggregations of data for government fiscal years which endedIn the 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.
324
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-79.—Interest-bearing public debt securities by kind of obligation, 1967-84
[Millions of dollars]
End of yearor month
Totalinterest-bearingpublicdebt
securities
Marketable
Total Treasurybills
Treasurynotes
Treasurybondsl
Nonmarketable
TotalU.S.
savingsi K
Foreigngovern-
mentand
publicseries2
Govern-ment
accountseries
Other^
Fiscal year:196719681969
19701971....1972....1973....1974....
1975....1976....1977....1978....1979...
1980...,1981....1982...,1983....1984...,
1983:Jan...Feb...Mar..
May...June..
July...Aug...Sept..Oct...,Nov...Dec...
1984:JanFebMar....
May...June..
July...Aug...Sept..Oct....Nov...Dec...
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
1,199,5991,213,7421,242,9931,242,0671,289,8971,318,111
1,320,6711,346,9151,375,7511,383,2651,387,8601,400,906
1,435,6121,455,7611,452,0991,484,3921,495,3931,501,131
1,536,8941,558,9691,559,5701,609,8701,629,3841,660,633
* 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
888,659907,652937,751935,478957,347978,929
985,7091,010,3711,024,0001,035,3301,044,3131,050,892
1,081,8801,100,0641,097,7321,123,3441,131,2521,126,634
1,159,8241,184,6981,176,5561,207,6391,225,0371,247,403
58,53564,44068,356
76,15486,67794,648100,061105,019
128,569161,198156,091160,936161,378
199,832223,388277,900340,733356,798
308,099314,882331,884325,939325,213334,299
337,581340,413340,733339,969335,310343,815
346,888349,461350,230347,259344,209343,282
347,431360,447356,798359,066365,208374,369
49,10871,07378,946
93,489104,807113,419117,840128,419
150,257191,758241,692267,865274,242
310,903363,643442,890557,525661,887
472,986481,300494,431494,904513,626527,142
527,183544,158557,525566,159575,252573,376
597,581607,975604,915629,787635,781632,120
657,216666,141661,887686,531691,858705,092
97,41891,07978,805
62,95653,98949,13545,07133,137
36,77939,62645,72456,35571,073
83,77296,178103,631125,742158,070
107,574111,471111,436114,635118,508117,488
120,946125,800125,742129,202133,751133,701
137,411142,628142,586146,299151,262151,233
155,177158,109158,070162,042167,971167,942
111,614117,808125,623
136,426150,816168,158193,382206,663
216,516226,673254,121281,816312,314
311,896313,286316,461351,751383,015
310,940306,090305,243306,589332,550339,182
334,961336,544351,751347,935343,547350,015
353,732355,697354,368361,047364,141374,496
377,070374,271383,015402,231404,347413,230
51,21351,71251,711
51,28153,00355,92159,41861,921
65,48269,73375,41179,79880,440
72,72768,01767,27470,02472,832
67,81468,04268,24168,53368,91969,140
69,46669,74770,02470,35170,61970,466
70,71570,98171,31871,53771,78072,042
72,25972,49472,83272,98073,33973,058
1,5143,7414,070
4,7559,270
18,98528,52425,011
23,21621,50021,79921,68028,115
25,15820,49914,64111,4508,806
14,01812,68512,39211,96311,14411,405
11,19311,05211,45011,50010,51210,448
10,8049,8029,9169,8619,0098,847
9,3638,5608,8068,4538,7109,114
56,15559,52666,790
76,32382,78489,598
101,738115,442
124,173130,557140,113153,271176,360
189,848201,052210,462234,684259,534
203,031199,125196,970197,593222,446225,041
220,607221,357234,684230,324226,214231,887
235,045236,988234,640240,864243,217253,182
254,915252,197259,534278,187278,407286,199
2,7312,8283,051
4,0685,7593,6543,7014,289
3,6444,883
16,79727,06727,400
24,16423,71824,08535,59341,843
26,07726,23927,64028,50030,04133,596
33,69634,38935,59335,76036,20237,214
37,16837,92638,49438,78540,13540,425
40,53341,02041,84342,61143,89144,859
1 Includes Treasury bonds and minor amounts of Panama Canal and postal savings bonds.2 Nonmarketable certificates of indebtedness, notes, bonds, and bills in the Treasury foreign series of dollar-denominated and foreign-currency denominated issues.3 Includes 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.
• 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.
325Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-80.—Maturity distribution and average length of marketable interest-bearing public debt securitiesheld by private investors, 1967-84
End of year or month
Amountout-
standing,privately
held
Maturity class
Within1 year
I to5years
5 to 10 10 to 20years
20 yearsand over
Average length
Millions of dollars YearsFiscal year:
196719681969
1970197119721973 . .1974
197519761977....19781979
19801981198219831984
1983:JanFebMar
June*::::::::::::::::::::::::::::;
JulyAUBsept.;...:;::::::::::::::::;::::::Oct
Dec,
1984:JanFebMar
June
JulyAugSeptOctNovDec
150,321159,671156,008
157,910161,863165,978167,869164,862
210,382279,782326,674356,501380,530
463,717549,863682,043862,631
1,017,488
750,274766,075795,087789,629810,150831,309
835,893857,935862,631883,287888,932893,991
925,683953,274942,372955,267970,488969,341
1,003,2601,026,4971,017,4881,054,4031,062,2511,081,548
56,56166,74669,311
76,44374,80379,50984,04187,150
115,677151,723161,329163,819181,883
220,084256,187314,436379,579437,941
348,444351,150367,383360,536363,465373,669
375,845380,424379,579384,406383,761394,088
399,857418,060413,070408,445413,316415,474
424,193444,361437,941447,809447,330455,801
53,58452,29550,182
57,03558,55757,15754,13950,103
65,85289,151113,319132,993127,574
156,244182,237221,783294,955332,808
245,990256,133262,985259,420276,825282,444
279.730294,000294,955303,810309,516298,262
317,869323,520311,574325,657332,509322,719
343,145342,249332,808354,372362,598365,794
21,05721,85018,078
8,28614,50316,03316,38514,197
15,38524,16933,06733,50032,279
38,80948,74375,74999,174130,417
79,75881,07787,01388,95885,31490,979
92,42093,97499,174101,94199,893106,043
108,471110,595116,643117,644115,773122,146
122,928123,641130,417131,895128,376136,121
6,1536,1106,097
7,8766,3576,3588,7419,930
8,8578,0878,42811,38318,489
25,90132,56933,01740,82649,664
35,70836,84636,83736,79739,97539,949
39,85041,08640,82641,07343,08243,058
43,86843,58847,10947,141
47,13349,66749,66449,65552,09052,068
12,96812,67012,337
8,2727,6456,9224,5643,481
4,6116,65210,53114,80520,304
22,67930,12737,05848,09766,658
40,37440,869
43,91844,57144,268
48,04848,45148,09752,05752,68052,540
52,68057,21757,21759,93361,78161,861
65,86166,57966,65870,67271,85771,765
Months
63
11
87U37
901116
001011
0
0111
3
Note.—AU 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.
326Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABUS B-81.—Estimated ownership of public debt securities, 1976-84
[Par values; > billions of dollars]
End of month
1976:JuneDec
1977:JuneDec
1978:JuneDec
1979:JuneDec
1980:JuneDec
1981:MarJuneSeptDec
1982:MarJuneSeptDec..:...::..::
1983:MarJuneSeptDeb
1984:MarJuneSept
Totalpublicdebt
securi-ties
620.4653.5
674.4718.9
749.0789.2
804.9845.1
877.6930.2
964.5971.2997.9
1,028.7
1,061.31,079.61,142.01,197.1
1,244.51,319.61,377.21,410.7
1,463.71,512.71,572.3
Held byGovern-
mentaccounts
149.6147.1
151.2154.8
161.1170.0
178.5187.1
194.9192.5
190.9199.9208.1203.3
202.5211.7216.4209.4
201.2229.3239.02363
239.8257.6263.1
Held
FederalReserveBanks
94.497.0
102.2102.8
110.1110.6
109.7117.5
124.5121.3
. 119.0120.0124.3131.0
125.6127.0134.4139.3
136.7141.7155.41519
150.8152.9155.0
Held by private investors
Total
376.4409.5
421.0461.3
477.8508.6
516.6540.5
558.2616.4
654.6651.2665.4694.5
733.3740.9791.2848.4
906.6948.6982.7
10226
1,073.01,102.21,154.1
Com-mercialbanks2
91.4103.5
102.798.9
97.895.0
86.188.1
97.4112.1
117.0119.7112.7111.4
116.1116.1117.8131.4
153.2171.6176.31888
189.8182.3183.0
Nonbank investors
Total
285.0306.0
318.3362.4
380.0413.6
430.5452.4
460.8504.3
537.6531.5552.7583.1
617.2624.8673.4717.0
753.4777.0806.48337
883.2919.9971.1
Individuals3
Total
96.1101.6
104.9107.8
109.0114.0
115.5118.0
116.5117.1
105.2107.4109.7110.8
112.5114.1115.6116.5
116.7121.3128.91334
136.2142.2147.5
Sav-ings
bonds*
69.672.0
74.476.7
79.180.7
80.679.9
73.472.5
70.469.268.368.1
67.567.467.668.3
68.869.770.6715
72.272.973.7
Othersecu-rities
26.529.6
30.531.1
29.933.3
34.938.1
43.144.6
34.838.241.442.7
45.046.748.048.2
47.951.658.4619
64.069.373.8
Insur-ancecom-
panies
14.416.2
18.119.9
19.720.0
20.921.4
22.324.0
25.626.427.629.0
32.132.534.839.1
43.747.451.2567
57.161.658.6
Moneymar-ket
funds
0.81.1
.8
.9
1.31.5
3.85.6
5.33.5
14.59.0
11.421.5
25.722.438.642.6
44.828.322.122.8
19.414.913.6
Corpora-tions6
23.323.5
22.118.2
17.317.3
18.617.0
14.019.3
17.019.918.017.9
16.917.621.624.5
27.232.835.939.7
42.645.347.7
Stateandlocal
govern-ments6
33.839.8
46.851.9
59.564.5
71.274.1
78.987.9
91.896.999.8
104.3
108.4113.6122.4127.8
137.1144.9149.9155.1
162.9165.0
Foreignand
interna-tional'
69.878.1
87.9109.6
119.5133.1
114.9119.0
118.2129.7
138.2136.6130.7136.6
136.1137.2140.6149.5
156.2160.1160.1166.3
166.3171.5175.5
Otherinves-tors8
46.845.7
37.754.1
53.763.2
85.697.3
105.6122.8
145.3135.3155.5163.0
185.5187.4199.8217.0
227.7242.2258.3259.8
298.7319.4
1 U.S. savings bands, series A-F and J, are included at current redemption value.2 Includes domestically chartered banks, U.S. branches and agencies of foreign banks, New York investment companies majority owned by foreign banks,
and Edge Act corporations owned by domestically chartered and foreign banks.3 Includes partnerships and personal trust accounts.• Includes U.S. savings notes. Sales began May 1 ,1967 , and were discontinued June 3 0 , 1 9 7 0 .5 Exclusive of banks and insurance companies.<• Includes State and local pension funds.7 Consists of the investment of foreign balances and international accounts in the United States.B 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.
327
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-82.—Corporate profits with inventory valuation and capital consumption adjustments, 1929-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Corporateprofits with
inventory
and capitalconsumptionadjustments
Corporateprofits tax
liability
Corporate profits after tax with inventoryvaluation and capital consumption adjustments
Total ends
5.82.03.8
4.04.44.34.44.6
4.65.66.37.07.2
8.88.58.58.89.1
10.311.111.511.312.2
12.913.314.415.517.3
19.119.420.222.022.5
22.522.924.427.029.9
30.837.440.847.0527
58.666.569.272.980.5
69.268.669.070.2
71.171.773.375.4
77.779.981.3
Undistributedprofits with
inventoryvaluation
and capitalconsumptionadjustments
1.9- 4 . 3
.1
1.82.13.65.06.1
3.81.947
10.09.7
7.27.68.27.28.4
13.110710.38.2
13.8
12.112.518.220.423.9
30.032.029727.923.1
14.822.830.532.313.4
29.136.953.762.254.5
32.142.329.276.5
115.6
27.930.132.426.4
48.870.286.9
100.0
107.0115.3118.4
1929...1933...1939...,
1940.1941..1942..1943..1944..
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
1980198119821983
1984 "...
1982:
III!!!
1983:
It IIIIII
1984:III
9.0- 1 7
5.3
8.614.119.323.523.6
19.016.622.329.427.1
33.938.736.136,335.2
45.543.743.338.549.6
47.648.656.662.169.2
80.085.182.489.185.1
71.483.296.6
108.394.9
110.5138.1167.3192.4194.8
175.4189.9159.1225.2284.5
159.91617163.3151.6
179.12167245.0260.0
277.4291.1282.8
1.4,5
1.4
2.87.6
11.414.112.9
1079,1
11.312.410.2
17.922.619.420.317.6
22.022.021.419.023.6
22.722.824.026.228.0
30.933732.539.239.5
34.237.541.649.051.6
50.663.872.783.287.6
84.881.160775.888.4
62.962.961.955.0
59.174.884784.5
92795.883.1
7.7- 2 . 3
3.9
5.86.57,99.5
10,7
8.47.5
11.017.016.9
16.016.116716.017.5
23.421.821.819.526.0
24.925.832.635.941.2
49.151.449.950.045.6
37.245.755.059.343.3
59.974.394.6
109.1107.2
90.6108.898.4
149.4196.1
97.098.8
101.496.6
120.0141.9160.2175.5
1847195.2199.8
Source: Department of Commerce, Bureau of Economic Analysis.
328Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-83.—Corporate profits by industry, 1929-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or
Corporate profits with inventory valuation adjustment and without capital consumption adjustment
Total
Domestic industries
Total
Financial *
TotalFederal
Re-servebanks
Other
Nonfinancial
Total Manufac-turing^
Trans-portation
andpublic
utilities
andretailtrade
Other
1929....193319391940....1941....1942....1943....1944....1945....1946....1947....1948....1949....1950....1951....1952....1953....1954....1955....1956....1957,...1958....1959....I960....1961....1962....1963....1964....1965....1966....1967....19681969....1970....1971....1972....1973....1974....1975....1976....1977....1978....1979...1980....1981....1982...1983...
1982:III....III...IV...
1983:
\\ZIII...IV...
1984:III...III..
10.5- 1 . 2
6.59.8
15.420.524.524.019.319.625.933.431.137.943.340.640.238.447.546.946.641.652.349.750.055.159.766.076.080.978.184.980.868.982.094.0
105.698.7
120.6151.6178.5205.1209.6191.7197.6156.0192.0228.6
161.3160.9158.8143.2
157.3186.1208.1216.3
229.8238.7224.5
10.2- 1 . 2
6.19.6
15.020.124.123.518.918.924.932.229.936.741.538.738.436.445.144.143.539.149.646.746.851.555.861.871.576.773.779.774.662.474.985.392.080.4
107.6137.4163.4185.4179.0161.9173.2133.6167.2204.4
139.8138.6136.5119.7
134.9162.4180.6190.8
204.1217.5200.2
1.3
'81.01.11.21.31.61.72.11.72.63.13.13.64.04.54.64.85.05.25.76.87.27.07.36.86.97.58.59.0
10.411.112.114.115.315.915.011.817.123.131.030.326.919.519.629.627.3
13.619.021.024.9
28.432.029.528.5
28.728.926.6
0.0.0.0.0.0.0.0
.1
\\
.2
2AA.3.3'.S.6
1.0.8.9
1.01.11.41.72.02.53.13.63.33.44.55.75.76.06.27.79.6
11.914.515.414.816.7
15.415.915.614.8
14.414.514.915.5
16.016.417.1
1.3.3
.91.01.21.31.61.62.01.62.32.93.03.33.74.14.34.54.54.65.16.06.26.36.45.85.86.26.87.07.98.08.6
10.711.911.49.36.2
11.116.923.320.715.04.94.2
14.810.6
- 1 . 83.25.4
10.1
14.017.514.613.1
12.712.59.5
8.9- 1 . 5
5.38.6
14.018.922.821.917.316.823.229.626.833.537.934.733.931.840.339.138.333.542.939.539.844.249.054.964.068.264.869.363.550.260.870.076.065.495.8
120.3140.3154.4148.6134.9153.7114.0137.6177.0
126.2119.6115.594.8
106.5130.4151.1162.3
175.4188.6173.6
5.2
~X35.59.5
11.813.813.29.79.0
13.617.616.220.924.621.722.019.926.024.724.019.426.423.623.326.029.332.339.341.938.541.236.626.634.140.745.539.052.669.278.386.985.672.984.954.565.284.3
58.057.460.442.4
44.959.373.882.9
89.892.378.3
1.8.0
1.01.32.03.44.43.92.71.82.23.03.04,04.64.95.04.75.65.95.85.97.07.47.88.49.3
10.011.011.810.710.810.38.28.59.08.76.1
10.014.517.820.615.917.118.817.622.527.6
20.220.616.513.3
18.922.725.023.5
27.328.327.1
1.0—.5
1.21.42.23.03.23.33.84.65.54.55.05.04.83.83.85.04.54.44.65.94.95.05.85.97.58.18.29.1
10.410.59.5
11.713.413.912.521.322.426.626.927.123.631.825.933.445.3
30.225.324.024.1
25.333.035.939.5
40.647.046.8
0.9
~'.3.6
1.11.51.61.61.52.12.93.63.13.63.73.33.13.43.64.14.03.63.63.63.73.94.45.15.66.36.56.96.15.96,56.98.07.9
11.914.217.620.020.121.318.215.916.419.9
17.716.314.615.1
17.415.316.516.4
17.921.021.5
1 Consists of the following industries: Banking; credit agencies other than banks; security and commodity brokers, dealers, andservices; insurance carriers; regulated investment companies; small business investment companies; and real estate investment trusts.
2 See Table B-84 for industry detail.Note.—The industry classification is on a company basis and is based on the 1972 Standard Industrial Classification (SIC) beginning
1948, and on the 1942 SIC prior to 1948.Source: Department of Commerce, Bureau of Economic Analysis.
329Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-84.—Corporate profits of manufacturing industries, 1929-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Corporate profits with inventory valuation adjustment and without capital consumption adjustment
Totalmanufac-
turing
Durable goods
Total
Pri-marymetalindus-tries
Fabri-catedmetalprod-ucts
Machin-ery,
exceptelectri-
cal
Electricand
elec-tronicequip-ment
Motorvehicles
andequip-ment
Other
Nondurable goods
Total
Foodand
kindredprod-ucts
Chemi-calsand
alliedprod-ucts
Petro-leumandcoal
prod-ucts
Other
5.2
l ! 32.6
~1
2.6
1.7
5.59,5
11.813.813.29.79.0
13.617.616.2
20.924.621.722.019.926.024.724.019.426.4
23.623.326.029.332.339.341.938.541.236.6
26.634.140.745.539.052.669.278.386.985.6
72.984.954.565.284.3
58.057.460.442.4
44.959.373.882.9
89.892.378.3
316472817.44.52.45.87.58.1
12.013.211.711.910.514.312.813.39.3
13.7
11.611.414.016.317.923.023.820.922.218.9
10.216.322.424.313.218.930.438.144.337.1
20.423.0
2,611.927.6
4.47.15.4
-6 .3
1.78.7
14.322.7
30.327.626.4
2.43.14.65.75.95.26.67.8
10.08.1
8.911.49.9
10.19.4
11.811.910.710.012.7
12.011.912.013.114.416.318.117.619.117.7
16.517.818.321.225.833.638.840.242.648.4
52.561.951.953,456.7
53.650.255.148.7
43.250.659.460.2
59.464.751.9
1.61.5
2.33.11.92.51.72.93.03.01.92,3
2.01.61.62.02,53.13.62.71.91.4
.8
.71.62.25.42.92.11.13.53.5
2.72.9
=5.0-2.3
.3
-3.3-6.2-5.1-5.3
-2.7^2.6-2.3-1.4
.8
1.11.31.01.0
.91.01.11.1.9
1.1
.81.01.11.31.42,02.42.42.32,0
1.11.52.12.51.63.03.84.44.95.2
4.24.42.63.55.6
3.73.02.61.4
1.83.23.75.3
5.26.05.7
1.21.3
1.62.32.31.91.71.72.12.01.42.1
1.81.92.32.53,33,94.54.14.13.7
2.92.94.34,62.94.76.38.89.48.9
7.48.23.52.05.0
7.33.52.4
.6
.42.62.02.9
.7
.8
1.21.31.51.41.21.11.21.51.31.7
1.31.31.51.61.72,73.02.92,82.3
1.21.92.83.0
.42.13.45.66.55.1
5.24.61.8.9
2.6
1.82.92.5
.1
2.81,93.1
1.42,1
3.12.42.42.62.14.12.22.6
.93.0
3.02.54.04.94,76.25.13.95.54.7
1.25.05.95.7
ii7.29.48.94.7
-3 .8
7,49.8
-3.23.93.6
-1 .0
2.75.0
10.111.7
14.67.97.6
1.81.7
2.62.82.62.62.93.53.23.12.93.5
2.73.13.54.04.45.15.24.95.74.9
2.94.35.76.22.94.37.68.8
11.09.8
4.72.6
-1 .1.4
4.4
-1.9.1
- . 7-2 .0
-1.3
72.3
3.65.24.9
1.91.6
1.61.41.71.81.62.21.81.82.12.4
2.22.32.32.72.72.83.23.23.23.0
3.23.52.92.42.88.66.96.86.05.7
7.16.67.1
6.67.27.6
6.56.66.17.1
1.71.8
2.32.82.32.22.23.02.82.82.53.5
3.13.23.23.64.04.64.94.35.24.5
3.94.45.26.05.66.58.37.98.37.1
6.96.85.23.1
5.26.07,88.1
9.09.57.8
281.9
2327232.82.7303.32.62,12.5
2.52.22.22.12.42.93.23.93.73.2
3.53.53.05.0
10.59.6
12.611.613.820.7
28.231.627.623.522.6
30.424.829.525.6
16.622.028.027.6
23.627.919.3
15.016.117.517.3
19.119.518.2
Note.—The industry classification is on a company basis and is based on the 1972 Standard Industrial Classification (SIC) beginning1948, and on the 1942 SIC prior to 1948.
Source: Department of Commerce, Bureau of Economic Analysis.
330Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-85.—Sales, profits, and stockholders' equity, all manufacturing corporations, 1950-84
[Billions of dollars]
Year orquarter
All manufacturing corporations
Sales(net)
Profits
Beforeincometaxes1
Afterincometaxes
Stock-holders'equity2
Durable goods industries
Sales(net)
Profits
Before AfterStock-
holders'equity2
Nondurable goods industries
(net)
Profits
Beforeincometaxes1
Afterincome
Stock-holders'equity8
1950195119521953195419551956195719581959I9601961.,!1962196319641965196619671968196919701971197219731973: IVNew series:1973: IV
1974
19751976197719781979
1980198119821983
1981:
!L:EIV
1982:
\\ZZZZZIllIV
1983:
inIV
1984:
\iZZ.ZZin
181.9245.0250.2265.9248.5
278.4307.3320.0305.3338.0345.7356.4389.4412.7443.1
492.2554.2575.4631.9694.6
708.8751.1849.5
1,017.2
275.1
236.6
1,060.6
1,065.21,203.21,328.11,496.41,741.8
1,912.82,144.72,039.42,114.3
520.8549.6539.9534.4
502.9521.9508.0506.6
490.8527.1534.7561.6
565.9597.4576.4
23.227.422,924.420.9
28.629.828.222.729.727.527.531.934.939.6
46.551.847.855.458.148.152.963.281.4
21.4
20.6
92.1
79.9104.9115.1132.5154.2
145.8158.6108.2133.1
39.045.640.034.0
29.030.927.820.5
24.134.636.238.2
42.348.438.5
12.911.910.711.311.2
15.116.215.412.716.3
15.215.317.719.523.2
27,530.929.032.133.2
28.631.036.548.1
13.0
13.2
58.7
49.164.570.481.198.7
92.6101.370.985.8
24.428.925.222.9
19.020.017.814.1
15.522.123.225.0
26.531.025.7
83.398.3
103.7108.2113.1
120.1131.6141.1147.4157.1
165.4172.6181.4189.7199.8
211.7230.3247.6265.9289.9
306.8320.8343.4374.1
386.4
368.0
395.0
423.4462.7496.7540.5600.5
668.1743.4770.2812.8
718.4739.4753.5762.3
757.5765.0775.2783.0
787.7804.1821.9837.6
852.1858.2865.2
116.8122.0137.9122.8
142.1159.5166.0148.6169.4
173.9175.2195.3209.0226.3
257.0291.7300.6335.5366.5
363.1381.8435.8527.3
140.1
122.7
529.0
521.1589.6657.3760.7865.7
889.1979.5913.1973.5
234.1257.2245.1243.0
225.3239.4224.4224.0
220.6243.6243.9265.4
270.4290.9276.7
12.915.412.914.011.4
16.516.515.811.415.8
14.013.616.818.521.2
26.229.225.730.631.5
23.026.533.643.6
10.8
10.1
41.1
35.350.757.969.672.4
57.467.234.748.7
16.720.716.413.4
10.712.68.52.9
7.613.212.715.2
19.023.016.9
6.76.15.55.85.6
8.18.37.95.88.1
7.06.98.69.5
11.6
14.516.414.616.516.9
12.914.518.424.8
6.3
6.2
24.7
21,430.834.841.845.235.641.621.730.0
10.112.710.38.5
6.88.15.31.5
4.68.38.09.2
11.714.811.4
39,947.249.852.454.9
58.865.270.572.877.982.384.989.193.398.5
105.4115.2125.0135.6147.6
155.1160.4171.4188.7
194.7
185.8
196.0
208.1224.3239.9262.6292.5
317.7350.4355.5372.4
339.4349.7354.2358.3
351.2354.5358.3358.1
359.6368.1376.7385.1
392.4398.5404.9
95.1128.1128.0128.0125.7
136.3147.8154.1156.7168.5
171.8181.2194.1203.6216.8
235.2262.4274.8296.4328.1
345.7369.3413.7489.9
135.0
113.9
531.6
544.1613.7670.8735.7876.1
1,023.71,165.21,126.41,140.8
286.7292.4294.8291.3
277.6282.6283.6282.6
270.3283.5290.8296.2
295.5306.4299.7
10.312.110.010.49.6
12.113.212.411.313.9
13.513.915.116.418.3
20.322.622.024.826.6
25.226.529.637.810.6
10.5
51.0
44.654.357.262.981.8
88.491.373.684.4
22.324.923.520.6
18.318.319.417.6
16.521.323.523.0
23.325.421.7
6.15.75.25.55.6
7.07.87,56.98.3
8.28.59.2
10.011.6
13.014.614.415.516.4
15.716.518.023.3
6.7
7.0
34.1
27.733.735.539.353.556.959.649.355.8
14.216.214.914.3
12.311,912.512.6
11.013.815.215.8
14.716.214.3
43.551.153.955.758,2
61.366.470.674.679.2
83.187.792.396.3
101.3
106.3U5.1122.6130.3142.3
151.7160.5172.0185.4
191.7
182.1
199.0
215.3238.4256.8277.9308.0
350.4393.0414.7440.4
379.1389.7399.4404.0
406.3410.5416.8425.0
428.1436.0445.2452.5
459.7459.7460.3
1 tn the old series, "income taxes" refers to Federal income taxes only, as State and local income taxes had already been deducted.In the new series, no income taxes have been deducted.2 Annual data are average equity for the year (using four end-of-quarter figures).
Note.—Data are not necessarily comparable from one period to another due to changes in accounting procedures, industryclassifications, sampling procedures, etc. For explanatory notes concerning compilation of the series, see "Quarterly Financial Report forManufacturing, Mining, and Trade Corporations, Department of Commerce, Bureau of the Census.
Source: Department of Commerce, Bureau of the Census.
331
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-$6.~-Relation of profits after taxes to stockholders' equity and to sales, all manufacturing
corporations, 1947-84
Year or quarter
Ratio of profits after income taxes (annualrate) to stockholders' equity—percentl
Allmanufacturingcorporations
Durablegoods
industries
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
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
Profits after income taxes per dollar of
Durablegoods
industries
Nondurablegoods
industries
194719481949
1950
19511952195319541955195619571958. ..1959...
1960. . .19611962... .1963.. ..1964
19651966196719681969
197019711972.. .19731973: IV
New series:1973: IV
197419751976 ;:::197719781979
19801981198219831981:
I||MI""""!!"iv
1982:
n'!!!!!!!!Ziniv
1983:IIIIllIV
1984:
15.616.011.6
15.412.110.310.59.9
12.612.3.10.98.6
10.49.28.99.8
10.311.6
13.013.411.712.111.5
9.39.7
10.612.8
13.4
14.3
14.9
14.415,712.1
16.913.011.111.110.3
13.812.811.38.0
10.48.58.19.6
10.111.7
13.814.211.712.211.4
8.39.0
10.813.1
12.9
13.3
12.6
11.613.914.215.016.4
13.913.69.2
10.6
13.615.613.412.0
10.110.59.27,2
7.911.011.311.9
12.414.511.9
10,313.714.516.015.4
11.211.96.18.1
12.014.611.69.5
7.79.25.91.7
5.19.08.59.5
12.014.811.3
14.0
15.3
17.1
12.914.213.814.217.4
16.315.211.912.7
15.016.614.914.2
12.111.612.011.9
10.212.713.714.0
12.814.112.4
4.7
5.6
5.5
4.65.45.35.45.7
4.84.73.54.1
4.75.3
3.83.83.52.8
3.24.24.34.5
4.75.24.5
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
4.04.22.43.1
4.34.94.23.5
3.03.42.4
2.13.43.33.5
4.35.14.1
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-85.Source: Department of Commerce, Bureau of the Census.
332
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-87.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1946-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Yearor
qterr"
1946...1947...1948...1949...
1950...1951..1952..1953..1954..
1955..1956..1957..1958..1959...
1960...1961...1962...1963...1964...
1965...1966...1967...1968...1969...
1970...1971...1972...1973...1974...
1975...1976...1977...1978...1979...
1980...1981...1982...1983...
1982:1IIIII....IV....
1983:
HI;III....IV....
1984:t
HI;;;;
Sources
Total
18727.028.919.9
42,136.429.927.829.6
52744.943.441.956.3
48.656.360.168.473.9
91.897.694.7
113.5115.5
102.3125.3151.6192.5190.3
157.0211.0254.1317.5345.2
335.2364.2309.4436.3
309.4324.4328.8274.8
333.9449.2443.3519.1
516,1500.6448.8
Internal
Total
8.112.919.119.5
18.020.221.921723.9
29.529.531.530.336.0
35.436.542.846.551.8
58.562.663.665.064.4
61.873.585.091785.6
1197134.2157.41757188.8
189.5230.4234.3280.5
229.9234.6238.8234.0
250.42697292.5309.3
319.63317337.5
Domes-tic
undis-tributedprofits
8.112.113.28.7
13.19.67.88.07.6
11.810.99.66.5
10.7
8.07.29.6
11,114.6
19.121.218.117.113.4
7.612718.128.132.4
34.043.954762.867.3
49.046.010.418.6
13.813.912.01.6
- 1 . 315.130.630.2
37.639.829.9
Inven-tory
valuationand
capitalcon-
sumptionadjust-ments
- 8 . 2- 9 . 4- 6 . 1- 2 . 0
- 8 . 9-5 .7-3 .5- 4 . 8- 3 . 5
-3 .7- 5 . 9- 4 . 9- 3 . 4- 3 . 0
- 2 . 3- 1 . 2
1.42.32.4
2.51.82.5
.4- 1 . 8
- 4 . 1- 3 . 2- 3 . 8
-17.3- 4 1 7
-21.1-27.5-26.8-36.1-56.8
-57.2-29.6
- 5 . 521.8
- 6 . 6- 7 . 0-4 .7- 3 . 4
17.918.417.233.9
33.444.1567
Capitalcon-
sumptionallow-ances
7.69.2
10.8117
12.614.615.716717.8
19.021723724.7257
26.627.428.229.230.6
32.535.438.642.346.7
51.856.862.067.278.7
93.8103.6114.3129.2147.7
167.8189.5207.1215.2
201.2205.4209.2212.4
211.4212.5217.32197
222.8226.5230.2
Foreignearn-ings1
0.71.01.31.1
1.31.71.91.82,0
2.42.83.12.52.7
3.03.23.63.94,2
4.54.24.45.26.1
6.57.18.6
13.716.3
13.014.315.119730.6
29.924.422.424,8
21,522.322.323.5
22.423.727.525.6
25.721.3207
External
Total
10.614.197
.4
24.016.28.06.15.7
23.215.411.911720.2
13.219.817.322.022.1
33.335.031.148.551.1
40.551.866.6
100.71047
37.376.896.7
141.8156.4
1457133.875.0
155.9
79.589.890.040.8
83.5179.51507209.8
196.6168.9111.3
Credit market funds
Total
6.98.46.53.1
8.110.595576.5
10.212.812.310.512.3
12.112.912.812.514.1
18.523.827.827732.3
35.337.243.456770.2
30.854.772.480.588.2
90.991.581.487.8
98.094.089.144.6
68.786.566.6
129.4
112.681.365.0
Securi-tiesand
mort-gages
3.65.46.74.9
4.26.48.06.067
6.47.5
10.410.58.1
7.51079.48.47.8
7.614.319.115.014.6
26.332.826.420726.3
38.738.235.832.820.9
52.421.843.956.4
24.438.038.674.6
67.085.937.035.7
- 2 3 7-76.9- 7 . 4
Loansand
short-termpaper
3.33.0
- .2- 1 . 8
3.94.11.4
- .4- .2
375.31.9
- .04.2
4.62.23.44.06.2
11.09.58.7
12.617.7
9.04.4
16.936.043.9
- 7 . 916.536.647.767.3
38.569737.531.4
73.756.050.5
-30.1
1.7.6
29.693.6
136.3158.272.4
Other2
3.75.83.3
-2 .7
15.957
- 1 . 5.5
- .8
13.12.5
- .41.27.9
1.26.94.69.58.0
14.811.23.3
20.918.8
5.314.623.244.034.5
6.522.124.361.368.2
54.842.3
- 6 . 468.1
-18.5- 4 . 1
.9- 3 . 8
14.893.184.180.4
83.987.646.3
Uses
Total
16.825.625.318.3
40.437.629.228.027.8
49.140.839.138.551.2
41.451.055.560.464.9
82791.388.5
106.0115.3
98.7122.7149.1191.9190.1
150.9201.8237.6293.63437
317.6334.2258.0384.3
249.9281.2274.3226.8
282.3390.5395.4468.8
483.5458.3443.0
Capital
Wt
18.117.320.314.8
24.030.224.625.722.9
32.636.834.S27737,0
37.536.743.244.750.1
61.074.772.275,4837
80.086.099.0
121.5137.9
109.7148.3175.1201.6219.4
221.2271.3229.6256.2
252.1238.0229.4199.1
206.9255.3270.6291.9
354.5364.3386.8
Increasein
financialassets
- 1 . 48.45.03.5
16.47.44.6
316.54.04.2
10.814.2
3.914.212.315714.8
21.816.616.330.631.6
18.736.750.170.552.2
41.253.562.5
96.562 928.4
128.1
- 2 . 243.244.9277
75.4135.1124.8177.0
129.094.056.2
Discrep-
(sourcesless uses)
1.91.43.61.6
17- 1 . 2
.6— 1U
3.54.14.33.45.0
7,25.34.68.09.0
9.16.46.27.5.2
3.62.62.4
.5
.2
6.09.2
16.523.8
1.5
17.630.051.352.1
59.643.354.548.0
51.558747.850.3
32742,2
5.8
1 Foreign branch profits, dividends, and subsidiaries' earnings retained abroad.* Consists of tax liabilities, trade debt, and direct foreign investment in the United States.9 Plant and equipment, residential structures, inventory investment, and mineral rights from U.S. Government.
Source: Board of Governors of the Federal Reserve System.
333Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-88.—Current assets and liabilities of U.S. corporations, 1940-84
[Billions of dollars, except as noted]
End ofperiod
Current assets
Total Cash*U.S.
Govern-ment
securities2
Notesand
accountsreceiv-
able
Inven-tories
Othercurrentassets
Current liabilities
TotalNotesand
accountspayable
Othercurrentliabil-ities
Networkingcapital
Currentratio8
60.372.983.693.897.297.4
108.1123.6133.0133.1161.5179.1186.2190.6194.6224.0237.9244.7255.3277.3289.0306.8
13.113.917,621.621.621.722.825.025.326.528.130.030.831.133.434.634.834.937,436.337.241.1
2.04.0
10.116.420.921.115.314.114.816.819.720.719.921.519.223.519.118.618.822.820.120.0
24.028.027.326.926.525.930.738.342.443.056.861.567.468.573.688.997.7
102.2109.7120.6129.2139.2
All corporations
19.825.627.327.626.826.337.644.648.945.355.164.965.867.265.372.880.482.281.988.491.895.2
1.51.41.31.31.42.41.71.61.61.41.72.12,42.43.14.25.96.77.59.1
10.611.4
4
32.840.747.351.651.745.851.961.564.460.779.892.696.198.999.7
121.0130.5133.1136.6153.1160.4171.2
23.226.426.026.326.825.731.637.639.337.548.354.959.359.561.776.183.986.690.4
101.0106.8114.6
9.614.321.325.324.920.120.323.925.023.331.637.836.839.438.045.046.646.546.252,053.656.6
27.532.336.342.145.651.656.262.168.672,481.686.590.191.894.9
103.0107.4111.6118.7124.2128.6135.6
254.7269.7288.2305.6336.0364.0386.2426.5473.6492.3529.6599.3697.8790.7
735.4759.0827.4912.7
1,043.71,214.81,327.01,418.41,432,71,557.3
1,444,21,468.01,522.81,557.3
1,600.61,630.8
1.8381.7911.7671.8181.8802,1272.0832.0102.0652.1932.0241.9341.9381.9271.9521.8511.8231.8381.8691.8111.8021.792
Nonfinancial corporations8
34.837.139.840.542.841,945.548.247.950.253.359.066.371.1
73.282.188.297.2
105.5118.0126.9135.5147.0165.8
143.1147.9150.5165.8
159.3155.5
16.516.816.715.814.413.010.311.510.67,7
11.010.612.812.3
11.119.023.518.217.216.718.717,622.830.6
26.028.227.030.6
35.136.8
97.9103.2110.5119.9134.1146.6155.3173.9197.0206.1221.1248.2288.5322.1
265.8272.1292.9330.3388.0459.0506.8532.0519.2577.8
525.3539.3565.0577.8
596.9612.6
95.0100.5106.8113,1126.6142.8153.1166.0186.4193.3200.4225.7263.9313.6
319.5315.9342.5376.9431.8505.1542.8583,7578.6599.3
577.6576.2597.3599.3
623.1633.3
10.512.114.416.318.119.722.026.931.635.043.855.866.471.7
65.969.980.390.1
101.1116.0131.8149.5165.2183.7
172.1176,4183.0183.7
186.3192.5
123.7132.4145.5156.6178.8199.4211.3244.1287.8304.9326.0375.6450.9530.4
453.4451.6495.1557,1669.5807.3889.3970.0976.8
1,043.0
983.4990.2
1,026.61,043.0
1,079.01,111.5
84.488.797.0
104.9121.5137.5147.1168.8199.2211.3220.5282.9340.3402.3
269.8264.2282.1317.6383.0460.8513.6546.3543.0577.9
530.9536.6559.4577.9
584.1606.0
39.343.748.551.757.361.964.275.388.693.6
105.592.7
110.7128.1
183.6187.4213.0239.6286.5346.5375.7423.7433.8465.2
452.6453.6467.2465.2
495.0505.5
131.0137.3142.7149.0157.2164.6174.9182.4185.7187.4203.6223.7246.9260.3
282.0307.4332.4355.5374.3407,5437.8448.4455.9514,3
460.8477.8496.3514.3
521.6519.3
2.0592,0371.9811.9511.8791.8251.8281.7471.6461,6151.6251.5951.5481.491
1.6221.6811.6711.6381,5591.5051.4921.462L4671.493
1.4691.4831.4831.493
1.4831.467
1 Includes time certificates of deposit.* Includes Federal agency issues.9 Total current assets divided by total current liabilities.* Excludes banks, savings and loan associations, and insurance companies.s Based on data from ''Statistics of Income," Department of the Treasury.* Excludes banks, savings and loan associations, insurance companies, investment companies, finance companies (personal and
' Federal Trade Commission. See
Report was transferred to the Department of Commerce, Bureau of the Census.Note.-SEC series not available after 1974.Sources: Board of Governors of the Federal Reserve System, Federal Trade Commission, Department of Commerce (Bureau of the
Census), and Securities and Exchange Commission.
334Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-89.—State and municipal and business securities offered, 1934-84
[Millions of dollars]
Year or quarter
Stateand
municipalsecurities
offeredfor cash(princi-
palamounts)
Business securities offered for cash l
Totalofferings
Type of security
Commonstock 2
Preferredstock
Bondsand
notes
Industry of issuer
Manufac-turing3
Electric,gas, andwater*
Transpor-tation •
Communi-cation Other
19341939
1940194119421943194419451946194719481949
1950...1951 *19521953195419551956195719581959
1960196119621963196419651966196719681969
197019711972197319741975197619771978 6....1979
1980..1981..1982..1983..
1984.- First threequarters
1983:
I
IV...
1984:
\\ZIII. . .
9391,128
1,238956524435661795
1,1572,3242,6902,907
3,5323,1894,4015,5586,9695,9775,4466,9587,4497,681
7,2308,3608,55810,10710,54411,14811,08914,28816,37411,460
17,76224,37022,94122,95322,82429,32633,84545,06046,21542,261
47,13346,13477,17983,348
57,689
17,32927,34216,97321,703
14,53218,61924,538
3972,164
2,6772,6671,0621,1703,2026,0116,9006,5777,0786,052
6,3627,7419,5348,8989,51610,24010,93912,88411,5589,748
10,15413,16510,70512,21113,95714,78217,38524,01421,26125,997
37,45143,22939,70531,68037,82053,63253,31454,22929,94937,248
67,12665,88872,152102,620
61,767
28,26633,21219,99621,146
24,38115,44921,937
1987
1081103456163397891779614736
8111,2121,3691,3261,2132,1852,3012,5161,3342,027
1,6643,2941,3141,0112,6791,4731,9011,9273,8857,640
7,0379,485
10,7077,6424,05074148,3058,0477J248,816
19,28225,22623,19745,153
16,237
11,75113,2749,924
10,204
6,2864,8235,128
698
183167112124369758
1,127762492425
631838564489816635636411571531
409450422343412724580881636691
1,3903,6833,3713,3412,2733,4592,8033,9161,7571,964
3,1941,6964,948?,615
2,916
3,4701,7171,4071,021
1,1221,117
677
3721,979
2,3862,389
917990
2,6704,8554,8825,0365,9734,890
4,9205,6917,6017,0837,4887,4208,0029,9579,6537,190
8,0819,4208,969
10,85610,86512,58514,90421,20616,74017,666
29,02330,06125,62820,70031,49742,75942,20642,26620,46826,468
44,65038,96644,00749,852
42,614
13,04518,2218,6659,921
16,9739,509
16,132
67604
992848539510
1,0612,0263,7012,7422,2261,414
1,2003,1224,0392,2542,2682,9943,6474,2343,5152,073
2,1524,0773,2493,5143,0465,4147,056
11,0696,9586,346
10,64711,6516,3984832
10,51118,65215,49613,7574,4836,643
20,85715,28713,23922,814
9,095
6,3218,8724,5833.038
1,7882,7854,522
1331,271
1,2031,357
472477
1,4222,3192,1583,2572,1872,320
2,6492,4552,6753,0293,7132,4642,5293,9383,8043,258
2,8513,0322,8252,6772,7602,9343,6664,9355,2936,715
11,00911,72111,31410,26912,83615,89314,41813,7049,1389,937
13,74613,24516,40812,594
4,982
3,6203,8332,1672,974
1,4911,3822,109
176186
32436648161609
1,454711286755800
813494992595778893724824824967
718694567957982702
1,4941,639l!5641,779
1,2531,148860811
1,0053,6374,6493,2181,2511,640
2,3061,8832,0934,161
1,350
1,286864895
1,116
432379539
902571
399612760882720
1,1321,4191,4621,424717
1,0501,8341,3031,1052,189945
2,0031,97517752,172
5,2915,8404,8364,8723,9324,4663,5624,4432,9594,482
6,8655,8673,8955,528
975
2,0881,8721,467101
476270229
21103
159964
21109211329293
1,008946
1,3001,0581,0682,1382,0372,7572,6192,4261,9912,733
3,3833,5272,7613,9574,9804,7873,1674,3965,6718,985
9,25212,86716,29810,8979,63210,98315,19419,11312,12014,547
23,35629,60836,52057,523
45,365
14,95117,77110,88413,917
20,19410,63314,538
1 Business securities offered include securities offered by corporate and non-corporate business enterprises such as limitedpartnerships. Beginning 1978 excludes private placements.
* Common stock combines the conventional ownership shares of corporate business and securities issued by non-corporate business,e.g., limited partnership interests, voting trust certificates and condominium securities.
3 Prior to 1948, also includes extractive, radio broadcasting, airline companies, commercial, and miscellaneous company issues.4 Prior to 1948, also includes telephone, street railway, and bus company issues.6 Prior to 1948, includes railroad issues only.8 Beginning 1978, business security offerings exclude private placements.Note.-Covers substantially all new issues of State, municipal, and business securities offered for cash sale in the United States in
amounts over $100,000 ana with terms to maturity of more than 1 year; excludes notes issued exclusively to commercial banks,intercorporate transactions, and issues to be sold over an extended period, such as employee-purchase plans. Closed-end investmentcompany issues are included beginning 1973.
Sources: Securities and Exchange Commission, "The Commercial and Financial Chronicle/' and "The Bond Buyer."
335Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-90.—Common stock prices and yields, 1949-84
Year or month
Common stock prices »
New York Stock Exchange indexes (Dec. 31,1965=50)a
Composite Industrial Transpor-tation Utility Finance
Dow
industrialaverage3
Standard& Poor's
compositeindex
(1941-43=10) *
Common stock yields(percent)*
Dividend-priceratio8
Earnings-price
ratio7
194919501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984
1983:Jan....FebMar
fc:JuneJulyAugSeptOctNovDec
1984:JanFebMar
JulyAug....Sept...OctNovDec
9.0210.8713.0813.8113.6716.1921.5424.4023.6724.5630.73
30.0135.3733.4937.5143.7647.3946.1550.7755.3754.6745.7254.2260.2957.4243.8445.7354.4653.6953.7058.32
68.1074.0268.9392,6392.46
83.2584.7487.5090.6194.6196.4396.7493.9696.7096.7895.3694.92
96.1690.6090.6690.6790.0788.28
87.0894.4995.6895.0995.8594.85
46.1851.9758.0057.44
48.0357.9265.7363.0848.0850.5260.4457.8658.2364.76
78.7085.4478.18
107.45108.01
95.3797.26
100.61104.46109.43112.52
113.21109.50112.76112.87110,77110.65
112.16105.44105.92106.56105.94104.04
102.29111.20112.18110.44110.91109.05
50.2653.5150.5846.96
32.1444.3550.1737.7431.8931.1039.5741.0943.5047.34
60.6172.6160.4189.3685.63
75.6579.4483.2885.2689.0792.22
92.9188.0694.5695.4197.6898.79
97.9886.3386.1083.6181.6279.29
76.7286.8686.8886.8287.3788.00
45.4145.4344.1942.80
37,2439.5338.4837.6929.7931.5036.9740.9239.2238.20
37.3538.9139.7547.0046.44
45.5945.9245.8946.2247.6246.76
46.6146.9448.1648.7348.5047.00
47.4345.6744.8343.8644.2243.65
44.1746.4947.4749.0249.9350.58
44.4549.8265.8570.49
60.0070.3878.3570.1249.6747.1452.9455.2556.6561.42
64.2573.5271.9995.3489.28
85.6686.5793.2299.07
102.45101.22
99.6095.7697.0094.7994.4894.25
95.7989.9589.5088.2285.0680.75
79.0387.9291.5992.9495.2895.29
179.48216.31257.64270.76275.97333.94442.72493.01475.71491.66632.12618.04691.55639.76714.81834.05910.88873.60879.12906.00876.72
753.19884.76950.71923.88759,37802.49974.92894.63820.23844.40
891.41932.92884.36
1,190.341,178.48
1,064.291,087.431,129,581,168.431,212.861,221.47
1,213.931,189.211,237.04
1,257.64
1,258.891,164.461,161.971,152.711,143.421,121.14
1,113.271,212.821,213.511,199.301,211.301,188.96
15.23
18.4022.3424.5024.7329.69
44.3846.2457.38
55.8566.2762.3869.8781.3788.1785.2691.9398.7097,84
83.2298.29
109.20107.4382.8586.16
102.0198.2096.02
103.01
118.78128.05119.71160.41160.46
144.27146.80151.88157.71164.10166.39166.96162.42167.16167.65165.23164.36
166.39157.25157.44157.60156.55153.12151.08164.42166.11164.82166.27164.48
6.59
6.576.135.805.804.954.084.094.353.973.23
3.472.983.373.173.013.003.403.203.073.24
3.833.142.843.064.474.313.774.625.285.47
5.265.205.814.404.64
4.794.744.594.444.274.26
4.214,354.244.254.314.32
4.274.594.634.644.724.86
4544.624.61
15.48
13.9911.829.47
10.268.577.957.557.896.235.78
5.904.625.825.505.325.596.635.735.676.08
6.455.415.507,12
11,599.158.90
10.7912.0313.46
12.6611.9611.608.03
8.12
...„.„„
8.01
8*51
9.57
""io'M
9.96
•Averages of dally closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.* Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.3 Includes 30 stocks.4 Includes 500 stocks.8 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 ratios are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's Corporation.
336Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-91.—Business formation and business failures, 1940-84
Year or month
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969,..,
1970197119721973197419751976197719781979 . .
1980198119821983*.
1983: JanFebMarfc :::June:
SeptOctNovDec
1984: JanFebMar
% =JuneJulyAugSeptOctNov
Indexof net
businessformation(1967-
100)
io'i.986.4
90.689.593.391.791.098.496.692.492.298.7
95.592.193.795.298.6
100.299.4
100.0106.8112.9
106.4108.5115.9114.9109.2107.0115.6123.2128.2128.3
122.4118.6113.2114.8
Newbusinessincorpo-rations
(number)
132,916112,89796 34685,640
93,09283,77892,946
102,706117,411139,915141,163137,112150,781193,067
182,713181,535182,057186,404197,724203,897200,010206,569233,635274,267
264,209287,577316,601329,358319.149326,345375,766436,170478,019524,565
533,520581,242566,942600,400
Business failures»
Businessfailurerate2
63.054.444.616.46.54.25.2
14.320.434.4
34.330.728.733.242.041.648.051.755.951.8
57.064.460.856.353.253.351.649.038.637.3
43.841.738.336.438.442.634.828.423.927.8
42.161.389.0
109.7
Seasonally adjusted
111.4113.3112.7112.0114.8116.4
115.2114.4115.8118.0117.8116.3
115.9119.1117.6118.5115.8116.6
115.5118.2119.6119.9120.6
49,99948,29648,03248,90350,21150,992
48.60152,82850,44550,44151,64251,557
53,04453,59153,42453,93351,16654,729
52,0925172351,892
103.196.9
105.594.893.7
110.2
106.5135.8111.8108.1144.0110.0
Number of failures
Total
13,61911,8489,4053,2211,222
8091,1293,4745,2509,246
9,1628,0587,6118,862
11,08610,96912,68613,73914,96414,053
15,44517,07515,78214,37413,50113,51413,06112,3649,6369,154
10,74810,3269,5669,3459,915
11,4329,6287,9196,6197,564
11.74216,79424,90831,334
2.4552,3972,8812,4712,2922,641
2,3133,2182,3842,5113,2872,484
Liability size class
Under$100,000
13,40011,6859,28231551,176
7591,0033,1034,8538,708
8,7467,6267,0818.075
10,22610,11311,61512,54713,49912,707
13,65015,00613,77212,19211,34611,34010,83310,1447,8297,192
8,0197,6117,0406,6276,7337,5046,1764,8613,7123,930
5,6828,233
11,509
$100,000and over
219163123664650
126371397538
416432530787860856
1,0711,1921,4651,346
1,7952,0692,0102,1822,1552,1742,2282,2201,8071,962
2,7292,7152,5262,7183.1823,9283,4523,0582,9073,634
6,0608,561
13,399
Amount of current liabilities(millions of dollars)
Total
166.7136.1100.845.331.730.267.3
204.6234.6308.1
248.3259.5283.3394.2462.6449.4562.7615.3728.3692.8
938.61,090.11,213.61,352.61,329.21,321.71,385.71265.2
941.01,142.1
1,887.81,916.92,000.22,298.63,053.14,380.23,011.33,095.32,656.02,667.4
4,635.16,955.2
15,610.816,072.9
2,158.11,086.41154 7U25.6
920.02,188.6
829.21,353.1
947.21,816.81,624.5
868.5
Liability size class
Under$100,000
119.9100.780330.214.511.415.763.793.9
161.4
151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9
327.2370.1346.5321.0313.6321.7321.5297.9241.1231.3
269.3271.3258.8
• 235 6256.9298.6257.8208.3164.7179.9
272.5405.8541.7
$100,000and over
46.835.420.515.117.118.851.6
140.9140.714S.7
97.1128.0151.4226.6251.2243,0322.9348.2430.7413.9
611.4720.0867.1
1,031.61,015.61,000.01,064.1
967.3699.9910.8
1,618.41,645.61,741.52,063.02,796.34,081.62,753.42,887.02,491.32,487.5
4,362.66,549.3
15,069.1
1 Commercial and industrial failures only. Excludes failures of banks and railroads and, beginning 1933, of real estate, insurance,holding, and financial companies, steamship lines, travel agencies, etc.2 Failure rate per 10,000 listed enterprises.
Sources: Department of Commerce (Bureau of Economic Analysis) and Dun & Bradstreet, Inc.
337Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-92.—Farm income, 1929-84
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Income of farm operators from farming
Gross farm income
Total1
13.86.9
10.7
11.314.319.923.324.025.429.632.436.530.8
33.138.337.834.434.233.534.034.839.037.9
38.940.542.343.442.346.550.550.551.856.4
58.862.171.299.098.3
100.6102.9108.7127.2150.4
150.2167,9161.8151,4
169.9160.9153.3163.2
153.3147.3148.5156.6
169.8165.8176.4
Cash marketing receipts
Total
11.35.37.98.4
11.115.619.620,521.724.829.630.227.8
28.532.932.531.029.829.530.429.733.533.6
34.235,236.537.537.339.443.442.844.248.2
50.552.761.186.992.488.995.496.2
112.9131.8
140.5142.6144.8138.7
146.7143.0141.2148.1
144.6138.3143.7128.3
134.2138.9147.5
Livestockand
products
6.22.84.54.96.59.0
11.511.412.013.816.517.115.4
16.119.618.216.916.316.016.417.419.218.9
19.019.520.220.019.921.925.024.425.528.6
29.530.535.645.841.343.146.347.659.268.6
67.869.270.169.2
69.870.870.769.2
70.468.767.670.1
73.070.469.1
Crops
5.12.53.33.54.66.58.19.29.7
11.013.113.112.4
12.413.214.314.113.613.514.012.314.214.7
15.315.716.317.417.417.518.418.418.719.6
21.022.325.541.151.145.849.048.653.763.2
72.773.374.669.5
76.972.270.578.9
74.269.676.158.2
61.268.578.4
value OTinventorychanges*
-0 .1- .2
.1
.3
.41.1
-.1- .4- .4
.0-U
1.7-.9
.81.2
.9-.6
.5
.2- .5
.6
.8
.0
.4
.3
.6
.6- .81.0
- .1.7.1.1.0
i.4.9
3.4- 1 . 6
3.4- 1 . 5
1.1.8
4.9- 5 . 5
7.9-2 .6
-11.7
4.0-.7
- 5 . 2- 8 . 3
-11.4-14 .4-16.8- 4 . 4
2.28.1
10.6
Produc-tion
expenses
7.74.46.36.97.8
10.011.612.313.114.517.018.818.0
19.522.322.821.521.822.222.723.725.827.2
27,428.630.331.631.833.736.538.239.542.1
44.547.151.764.671.075.082.788.999.5
118.1
128.9136.9x: i sU5.3
140.0141.4140.1136.4
135.6135.2134.7135.8
139.2141.5143.2
Net farm income
Currentdollars
6.22.64.44.56.59.9
11.711.712.315.115.417,712.8
13.615.915.013.012.411.311.311,113.210.7
11.512.012.111.810.512.914.012.312.314.3
14.415.019.534.427.325.620.119.827.732.3
21.231.022.316.1
29.919.513.226.8
17.712.113.820.8
30.624.333.2
1967dollars*
12.06.6
10.6
10.714.720.222.722.222.825.823.024.517.9
18.920.518.816.215.414.113.813.115.212.3
13.013,313.312.811.313.714.412.311.813.0
12.412.415.625.918.515.911.810.914.214.9
8.611.47.75.4
10.66.84.59.1
6.04.14.66.9
10.07.8
10.6
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
19801981198219831982:
IIIII....IV....
1983:
IL.'"III....
1984:
III..
'Cash marketing receipts and inventory changes plus Government payments, other farm cash income, and nonmoney incomefurnished by farms.
* Physical changes in end-of-period inventory of crop and livestock commodities valued at average prices during the period.»Income in current dollars divided by the consumer price index (Department of Labor).Note.—Oata include net Commodity Credit Corporation loans and farm households.Source: Department of Agriculture, except as noted.
338Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-93.—Farm output and productivity indexes, 1929-84
[1977=100]
Year
192919331939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
I9601961196219631964
19651966196719681969
1970 :1971197219731974
19751976197719781979
198019811982198319g4p
Farm output
Total1
444248
5052585759
5860586362
6163666666
6969677374
7676778079
8279838585
8492919388
9597100104111
10311811493109
Crops 2
Total3
484349
5152585558
5659566461
5960626261
6363626968
7270717472
7673777980
7786879284
9392100102113
10111611887110
Feedgrains
383540
4144514749
4751395750
5147504951
5454586466
6962626859
7070797578
7192889174
9196100108116
9712112467113
Foodgrains
392736
4045484151
5355646253
4949635751
4850476955
6660565965
6767768074
6981778691
10810710093108
121144140116128
Oilcrops
6514
1616232320
2019222726
2626262628
3034333936
3843444646
5355566465
6668748771
8674100105129
9911412491108
Live-stockandprod-ucts2
505456
5760677269
6866656467
7073747477
7979787983
8286868991
8991949495
9910010199100
9599100101104
108109107109108
Productivity indicators
Farmoutputper
unit oftotalinput
454651
5254585758
5860586361
6161636465
6768697474
7778798281
8683868788
8794949590
9998100102105
10011611498109
Cropproduc-tionper
acre4
484351
5354595558
5760576460
5959626261
6364657372
7778818381
8583868991
8896999988
9694100105113
9911311699112
Farm output perfarm work
Total
9911
1213141414
1516161819
1920222324
2628293335
3739414547
5253586263
6674788179
8994100108119
112131131118130
Crops
101012
1314151516
1618182020
2222242526
2830333837
4142454749
5659636668
7079848780
8991100105118
104120126105126
hour of
Live-stockandprod-ucts
141314
1415161616
1617171818
1920212223
2425262831
3235374043
4549535559
6468737682
8593100109117
129136143154150
1 Farm output measures the annual volume of net farm production available for eventual human use through sales from farms orconsumption in farm households.
2 Gross production.3 Includes items not included in groups shown.4 Computed from variable weights for individual crops produced each year.Source: Department of Agriculture.
339Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-94.—Farm input use, selected inputs, 1929-84
Year
Farm populationApril*
ber(thou-sands)
Asper-centof
totalpopu-
lation *
Farm employment(thousands)a
TotalFa mi-
w,Vers
Hiredwork-
ers
Cropshar-
vested(mil-
lions ofacres) •
Selected indexes of input use (1977 -100 )
Total Farmlabor
Farmreal
estate
Me-chanicalpower
andmachin-
ery
Turalchemi-cals8
Feed,seed,andlive-stockpur-
chases9
192919331939
1940....1941....1942.,..1943....1944....
1945....1946....1947....1948....1949...
1950....1951....1952....1953....1954,...
1955....1956..,.1957....1958....1959....
I960....1961.,..1962,...1963.,..1964....
1965....1966....1967....1968....1969....
1970....1971197219731974
19751976197719781979
19801981198219831984*....
30,58032,39330,840
30,54730,11828,91426,18624,815
24,42025,40325,82924,38324,194
23,04821,89021,74819,87419,019
19,07818,71217,65617,12816,592
15,63514,80314,31313,36712,954
12,36311,59510,87510,45410,307
9,7129,4259,6109,4729,264
8,8648,253
'6,194* 6,501'6,241
6,0515,7905,6205,787
25.125.823.5
23,122.621.419.217.9
17.518.017,916.616,2
15.214.213.912.511.7
11.511.110.39.89.3
8.78,17.77.16.7
6.45.95.55.25.1
4.74.54.6
4^3
4.13.8
'2.8'2.9'2,87 2.7'2.5'2.4'2.5
12,76312,73911,338
10,97910,66910,50410,44610,219
10,00010,29510,38210,3639,964
9,9269,5469,1498,8648,651
8,3817,8527,6007,5037,342
7,0576,9196,7006,5186,110
5,6105,2144,9034,7494,596
4,5234,4364,3734,337
4,3424,3744,1553,9573,774
3,70513,6413,5783,5183,461
9,3609,8748,611
8,3008,0177,9498,0107,988
7,8818,1068,1158,0267,712
7,5977,3107,0056,7756,570
6,3455,9005,6605,5215,390
5,1725,0294,8734,7384,506
4,1283,8543,65035353,419
3,3483,2753,2283,1693,075
2 8592,6892,501
2,4022,3242,2482,1742,103
3,4032,8652,727
2,6792,6522,55524362,231
2,1192,1892,2672,3372,252
2,3292,2362,1442,0892,081
2,0361,9521,9401,9821,952
1,8851,8901,8271,7801,604
1,4821,3601,2531,2131,176
1,1751,1611,1461,1681,314
1,3171,3771,2961,2681,273
1,30313171,3301,3441,358
365340331
341344348357362
354352355356360
345344349348346
340324324324324
324302295298298
298294306300290
293305294321328
336337345338349
352366363305347
999396
9797
100102103100
9999
100102
101104104103102
102101
989899
9897979797
9696989797
979897
9699
100102105
103102100
95100
468456418
416410420414411
385369350340328
309309295284273
263248231221215
206198189183173
156146142137132
126123116114111
107103100
9693
92908779
107100105
107105103102101
102106106107108
109109108108108
108106105104105
103103104104104
103102104102102
105103102100
99
9798
100100101
101101101100
8587869092
9698
100104107
104102
9993
647
99
101113
1314151618
1921232424
2627272832
3235384346
4956666973
7581869092
8396
100107118
120121110
282637
3942444848
5049515256
5862636365
6669687377
7781838385
89928993
9a102104107
99
93101100104111
109105104101
1 Farm population as defined by Department of Agriculture and Department of Commerce, i.e., civilian population living on farms inrural areas, regardless of occupation. See also footnote 7.JTotal population of United States including Armed Forces overseas, as of July 1.
5 Includes persons doing farmwork on all farms. These data, published by the Department of Agriculture, differ from those onagricultural employment by the Department of Labor (see Table B-29) because of differences in the method of approach, in concepts ofemployment, and in time of month for which the data are collected,
* Acreage harvested plus acreages in fruits, tree nuts, and farm g"Fertilizer, lime, and pesticides.
tree nuts, and farm gardens.
•Nonfarm'consTan'rdolTar'valueof feed, seed, and livestock purchases.'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; 6,942and 3.0; 6,870 and 3.0: and 7,029 and 3.0, respectively.8 Previous basis for farm employment series nas been discontinued. Employment after 1980 is estimated.
Note.—Population includes Alaska and Hawaii beginning 1960.Sources: Department of Agriculture and Department of Commerce (Bureau of the Census).
340
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-95.—Indexes of prices received and prices paid by farmers, 1946-84[1977=100]
Year or month
1946194719481949
19501951195219531954195519561957195819591960196119621963196419651966 . ..196719681969
197019711972197319741975197619771978 ....197919801981198219831984 P.1983:
JanFebMarApr ..Nfay"""JuneJulyAugSeptOctNovDec
1984:JanFebMarApr(I/fayJune "" ..JulyAugSeptOctNovDec p
Prices received by farmers
Allfarmprod-ucts
52* 60
6355566663565451505155535253535352545855565960626998105101102100115132134139133134142
128132133136136133131136136134136140
145144145146145144145143139138137135
Crops
53615952546162555653545252515152545555535552525052566091117105102100105116125134121127139
113117120
. 126127124123134135133136136
139137139140145145144144136138130125
Live-stockandprod-ucts
5060655658706456524947515753535253514954605760676767771049498101100124147144143145141146
142146146145144141138139137135136143
150151151151145143145143141139143145
Prices paid by farmers
Allcommod-ities,
services,interest,taxes,andwagerates1
30353836374142404040404243434444454545474949515355586271818995100108123138150157160164
158159159160160161160161161161162162
163164165165165165164164164164164164
Production items
Total2
33394341424747444443434446464646474747485050505254576173839197100108125138148150153155
150151152153153153152153154153154154
155156157158157157156155154153153153
Tractorsandself-pro-pelledmachin-
ery
394042444749515458688291100109122136152165174181
168168172172172176176176177177177177
177177180180180182182182182182182182
Fertil-izer
45505556545759595958575858ft
ftS
58575757565552484850525692120102100100108134144144137143
139139138138138138138138138134134136
136136146146147147147147147141141139
Fuelsand
energy
. . ..
494950505152535457798893100105137188213210202202
205199191198203204205206206206203201
202204203203204203201199200201200198
Wagerates
20222322222526272727282930323333343536384144485357596369798593100107117126137144148150
148148148148148148148148148148148148
150150150150150150150ggg
150150
Adden-dum:Aver-agefarmreal
estatevalueperacre3
11131414141618181819192122232425262729313335384042434753667586100109125145158157148146
148
146
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, for February 1 for 1976 through 1981, and forApril 1 for 1982 through 1984. Monthly data are for first of month.
Source: Department of Agriculture.
341
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-96.—U.S. exports and imports of agricultural commodities, 2940-84
[Billions of dollars]
Exports
Total1 Feedgrains
Foodgrains3
Oil-seedsand
prod-ucts
Cot-ton
To-bacco
Ani-malsand
prod-ucts
Imports
Total1fruits,and
Ani-malsand
aCof-fee
Cocoabeansand
prod-ucts
culturaltrade
balance
19401941194219431944
19451946194719481949
1950......1951195219531954
19551956195719581959
19601961196219631964
1965196619671968.;...,1969
1970......1971197219731974
19751976197719781979
1980198119821983
Jan-Nov:1983..1984,.
0.5
l'.22.12.1
2.33.14.03.53.6
2.94.03.42.83.1
3.24.24.53.94.0
4.85.05.05.66.3
6.26.96.46.36.0
7.3779.4
17.721.9
21.923.023.629.434.7
41.243.336.636.1
32.634.3
El.4
'.3
.2!3.3.2.3.4
.5
'.S.8.9
1.11.31.1.9.9
1.11.01.53.54.6
5.26.04.95.97.7
9.89.46.47.3
6.57.3
1.21.41.31.51.7
1.41.81.51.41.2
1.41.31.84.75,4
6.24.73.65.56.3
7.99.67.97.4
6.86.9
0.2.1.1
.1
.3
".4
.9
1.01.1.9.5
A.6
$1.3
1.01.01.51.72.2
2,92.32.01.8
,2.1
.2
.2
.32.3.3
.4
.3
.4
.4
.3
.4
.4
.4
.4
.4
.4
.5
.7
.7
.8
.9
.91.11.41.2
1.31.51.51.5
1.31.3
0.1
'.81.21.3
,9.9.7.5.4
.3
A.5
1.0LI1.61.8
1.72.42.73.03.8
3.84.23.93.8
3.53.9
1.31.71.31.51.8
1.72.32.83.12.9
4.05.24.54.24.0
4.04.04.03.94.1
3.83.73.94.04.1
4.14.54.55.05.0
5.85.86.58.4
10.2
9.311.013.414.816.7
17.416.815.416.6
15.217.9
.91.21.51.7
1.72.02.32.4
2.22.9
0.2.3
.4
.3
.4
.4
.4
.6
.4
.71.1
.6
.5
.5,4
.5
'.B
.6
.9
.9
.91.21.11.31.4
1.61.51.82.62.2
1.82.32.33.13.9
3.83.53.73.8
3.53.7
0.1
.3
,3
.6
'.H
1.11,41.41.51.5
1.41.41.41.21,1
1.01.01.01.01.2
1.11.11.01.2.9
1,21.21,31.71.6
1.72.94.24.04.2
4.22.92.92.8
2.63.1
Ej
.2
.2
.2
.2
.2
.2
.2
.2
.1
.1
\2
.3
.2
.3
.5
.61.01.41.2
.9
.9
.8
.81.0
- 0 . 8- 1 . 0
1.2
-1 .1-1 .1-n-1 .3
•=•> 9
.2
.6
i'l1.01.31.21.62.3
2.12.41.91.31.1
1.51.92.99.3
11.7
12.612.010.214.618.0
23.926.621.219.5
17.416.4
1 Total includes items not shown separately.3 Rice, wheat, and wheat flour.3 Includes nuts, fruits, and vegetable preparations.Hess than $56 million.Note-Data derived from official estimates released by the Bureau of the Census, Department of Commerce. Agricultural commodities
are defined as (1) nonmanne 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.
342Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-97 .—Balance sheet of the farming sector, 1929-85
[Billions of dollars]
Beginning ofyear
192919331939
19401941194219431944
19451946194719481949
1950..1951 :.195219531954
19551956195719581959
I960196119621963..1964; :::
19651966...196719681969
19701971197219731974.....
1975 ait
1976197719781979
19801981198219831984
1985"
Assets
Total
53.054.862.973.684.0
93.8102.9115.9127.4134.6
134.5154.3170.1167.6164.5
168.9173.6182.8191.3207.6
210,2210.9219.3227.6235.8
243.8260.8274.3288.0302.8
314.9326 0351.8394.8478.5
502.6576.3664.2736.5873.4
1,005.51,089.81,083.51,045.21,031.1
1,022.4
Realestate
48.030.8341
33.634.437.541.648.2
53.961.068.573.776.6
77.689.598.5
100.198.7
102.2107.5115.7121.8131.1
137.2138.5144.5150.2158.6
167.5179.2189.1199.7209.2
215.8223.2239.6267.3327.7
359.7418.1496.4554.7655.0
755.9828.4818.9769.2764.5
749.2
Live-stock1
6.63.051
5.15.37.19.69.7
9.09.7
11.913.314.4
12.917.119.514.811.7
11.210.611.013.917.7
15.215.616.417.315.9
14.517.619.018.820.2
23.523 727.334.142.4
24.529.429.031.951.3
61.460.853.653.049.8
50.4
Other physical assets
Machin-ery andmotor
vehicles
3.22.532
3.13.34.04.95.4
6.55.45.37.4
10.1
12.214.116.717.418.4
18.719.320.220.121.8
22.722.222.523.523.9
24.826.027.429.831.3
32.334 436.639.344.2
54.764.071.077.085.1
96.8102.5108.8111.0108.2
106.5
Crops2
2.73.03.85.16.1
6.76.37.19.08.6
7.67.98.89.09.1
9.68.38.37.69.3
7.78.08.8
. 9.39.8
9.297
10.09.6
10.6
10.910 711.814.522.0
23.321.322.124.828.0
33.535.936.341.333.7
38.2
House-hold
eSand
furnish-ings
4.24.14.84.84.7
5.25.67.28.18.9
8.49.6
10.19.69.5
9.710.09.69.69.4
9.28.78.98.88.8
8.4848.38.89.4
9.610 010.811.912.3
11.211.712.113.816.0
17.219.420.823.024.8
26.0
Financial assets
Depos-its
andcur-
rency
3.23.54.25.46.6
7.99.4
10 29.99.6
9.19.19.49.49.4
9.49.59.49.5
10.0
9.28.78.89.29.2
9.610.010.310.911.5
11.912 413.214.014.9
14.014.514.815.215.5
15.916.216.717.418.2
18.7
U.S.
bonds
0.2.4fj
1.12.2
3.44.24.24.44.6
4.74.74.74.64.7
5.05.25.15.15.2
4.74.64.54.44.2
4.2413.93.83.8
3.7363.74.04.2
3.83.93.83.94.2
4.03.83.63.53.6
3.7
Invest-ments incooper-atives
0.8.9.9
1.01.1
1.21.41.51.71.9
2.12.32.52.72.9
3.03.23.53.73.9
4.24.54.85.05.4
5.6596.26.56.8
7.2808.89.8
10.9
11.413.414.915.418.3
20.822.824.826.928.3
29.7
Claims
Total
53.054 862.973.684.0
93.8102.91159127.4134.6
134.5154.31701167.6164.5
168.9173.6182.8191.3207.6
210.2210.9219.3227.6235.8
243.8260 8274.3288.0302.8
314.9326 0351.8394.8478.5
502.6576.3664.2736.5873.4
1,005.51,089.81,083.51,045.21,031.1
1,022.4
Realestatedebt
988568
6.6656.46.05.4
4.94.8495.15.3
5.66.1677.27.7
8.2909.8
10.411.1
12112.813.915.216.8
18.921223.125.127.4
29.230332.235.139.5
44.649.655.263371.4
85.495.5
105.5109.5111.6
110.9
Otherdebt
3.4404.13.93.5
3.43.1354.26.1
6.97.0808.99.2
9.49.89.5
10.012.6
12.713.414.616.217.6
17.919.520.922.323.1
23.824127.429.833.8
37.042.048.759.469.4
80.486.596.2
106.8103.1
101.3
Propri-etors'
equities
43.044352.563.875.1
85.495.0
107 5118.1123.3
122.1141.31555151.5147,6
151.2154 9163.4170.8183.9
185 4184.71909196.2201.4
207 02201230.2240.6252.3
261.92715292.2330 0405.2
421.0484.8560.4613 8732.6
839.7907.8881.8828.8816,4
810.2
1 Beginning with 1961, horses and mules are excluded.2 Includes all crops held on farms and crops held off farms by farmers as security for Commodity Credit Corporation loans.3 Beginning 1975, data are for farms included in the new farm definition, that is, places with sales of $1,000 or more annually.4 Forecast.Note—Data include farm households. Beginning 1960, data include Alaska and Hawaii.Source: Department of Agriculture.
343Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INTERNATIONAL STATISTICSTABLE B-98.—£/.£ international transactions, 1946-84
[Millions of dollars; quarterly data seasonally adjusted, except as noted. Credits ( + ) . debits ( - ) ]
Year orquarter
Merchandise12
Exports Imports Net
Investment income3
Receipts Payments Net
Netmilitarytransac-
tions
Nettraveland
transpor-tation
receipts
Otherserv-
net*
Balance
andservices* *
Remit-tances,
pensions,and otherunilateral
transfers'
Balanceon
currentac-
count ' 4
1946..1947..1948..1949..
1950..1951..1952..1953..1954..
1955..1956..1957..1958..1959..
I960..1961..1962..1963..1964..
1965..1966..1967..1968..1969..
1970..1971..1972..1973..1974..
1975..1976..1977..1978...1979..
1980...1981...1982..,1983...
1982:
nzIN....IV....
1983:
IV
1984;
11,76416,09713,26512,213
10,20314,24313,44912,41212,929
14,42-17,55619,56216,41416,458
19,65020,10820,78122,27225,501
26,46129,31030,66633,62636,414
42,46943,31949,38171,41098,306
107,088114,745120,816142,054184,473
224,269237,085211,198200,257
55,48255,11852,07948,519
49,24648,74550,43751,829
53,93554,56355,497
-5,067-5,973-=7,557-6,874
-9,081— 11,176-10,838-10,975-10,353
-11,527-12,803-13,291-12,952-15310
-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= 124,228-151,907-176,020-212,028
-249,781=-265,086-247,667= 261,312
-62,546-60,921-64.442-59,758
-58,523-63,615-67,938-71,236
-79,790-80,408-88,631
6,69;10,1245,7085,339
1,1223,0672,6111,4372!576
2,8974,7536,2713,4621,148
4,8925,5714,5215,2246,801
4,9513,8173,800
635607
2,603-2,260=-6,416
911-5,505
8,903-9,483
-31,091-33,966-27,555
-25,512-28,001-36,469-61,055
- 7 , 0 6 4=5,803
if"-9,277
= 14,870-17,501-19,407
-25,855-25,845-33,134
7721,1021,9211,831
2,0682,6332 7512,7362 & 9
3,4063,8374,1803,7904,132
4,6164,9995,6186,1576,824
7,4377,5288,0209,368
10,912
11,74712,70714,76421,80827,587
25,35129,28632,17942,24564,132
72,50686,41183,86277,003
20,88922,30721,50519,162
17,61818,97320,80219,609
23,30020,82222,501
-212- 2 4 5- 4 3 7-476
-559-583- 5 5 5-624-582
- 6 7 6- 7 3 5- 7 9 6»825
-=1,061
-1,237-1,245-1,324-1,561-1,784
-2,088-2,481-2,747-3,378=4,869
-5,516- 5 436-6,572-9,655
-12,084
-12,564-13,311=-14,217-21,680-32,914
-42,063-52,359-56,059-53,495
-13,653= 14,772-14,390-13,243
-12,380-12,995-13,630-14,490
-15,552
560857
1,4841,355
1,50920502,1962,1122,347
2,7303,1023,3842,9653,071
3,3793,7544,2944,5965,040
5,3495,0475,2735,9906,043
6,2317,2718,192
12,15315,503
12,78715,97517,96220,56531,218
30,44334,05227,80323,508
7,2367,5357.1155919
5,2385,9787!l725,119
7,7483,4593,678;
-493-455-799-621
-576-1,270-2,054-2,423-2,460
-2,701-2,788-2,841-3,135-2,805
-2,752-2,596^2,449-2,304-2,133
-2,122-2,935-3,226-3,143-3,328
-3,354-2,893-3,420-2,070-1,653
= 746559
1,528621
-1,778
-2,237-1,115
195515
52239
-14
79053
-55-273
-370-404-241
733946374230
-12029883
-238-269
-297-361-189-633-821
-964-978
-U5J.-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
-1,008-4,584
-114-247-99-548
-263-1,131-1,426-1,764
-1,400-2,112-2,590
310145175208
242254309307305
299447482486573
579594809960
1,041
1,3871,3651,6121,6301,833
2,1802,4952,7663,1843,986
4,5984,7115,2726,0135,735
7,2778,0488,3398,704
2,1602,0052,1182,054
2,1422,2582,1072,198
2,3512,3552,205
7,80711,6176,9426,511
2,1774,3993,1451,1952,499
2,9285,1537,1073,1451,166
5,1326,3466,0257,1679,604
8,2855,9635,7083,5633,393
5,6252,269
-1,94111,0219,147
22,7299,205
-9 ,894-10,340
4,686
8,97513,128
-1,141-32,912
2,2703,729
-3,231-3,908
-1,370-7,712-9,703
-14,127
= 17,526=-22,547-30,082
-2,922-2,625-4,525-5,638
-4,017-3,515-2,531-2,481-2,280
-2,498-2,423-2,345-2,361-2,448
-2,308-2,524-2,638=2,754~~2,781
-2,854-2,932-3,125=2,952=2,994
-3,294-3,701=-3,854-3,881-7,186
-4,613-4,998-4,617-5,106-5,649
-7,077-6,833-8,058-8,651
-2,105-1,802-1,745-2,406
= 1,573-1,848-2,143-3,086
-2,147-=2,157-2,818
4,8858,9922,417
873
-1,840884614
-1,286219
4302,7304,762
784-1,282
2,8243,8223,3874,4146,823
5,4323,0312,583
611399
2,331- 1 ,433-5,795
7,1401,962
18,1164,207
-14,511~ 15,446
-964
1,8986,294
-9,199-41,563
1651,927
-4,976-6 ,314
-2,943-9,560
-11,846= 17,213
-19,673-24,70432,900
1 Excludes military.2 Adjusted from Census data for differences in valuation, coverage, and timing.3 Fees and royalties from U.S. direct investments abroad or from foreign direct investments in the United States are excluded from
investment income and included in other services, net.* In concept, balance on goods and services is equal to net exports and imports in the national income and product accounts (and
the sum of balance on current account and allocations of special drawing rights is equal to net foreign investment in the accounts)although the series differ because of different handling of certain items (gold, extraordinary military shipments, etc.), revisions, etc.
See next page for continuation of table.
344Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-98.—U.S. international transactions, 1946-84—Continued
[Millions of dollars; quarterly data seasonally adjusted, except as noted]
Year orquarter
1946194719481949
19501951195219531954
19551956195719581959
I9601961196219631964
1965...1966196719681969
19701971197219731974
19751976197719781979
1980 , „298119821983
1982:
H"IllIV ,
1983:||j
IllIV
1984:
||III"
U.S. assets abroad, net[increase/capital outflow ( - ) ]
Total
-4.099-5.538-4.174-7.270-9,560
-5,7167.321
-9,757-10,977-11,585
-9,337-12,475
14,497-22,874-34,745
-39,703-51,269-34,785
61,130-64,331
-86,118-110,976
118,898-49,490
-31,96041,40926,216
-19,314
-24,364-1,060-9,223
-14,843
-1,98919,03716,024
US.officialreserveassets0
623-3,315
1,736- 2 6 6
1,758-33415
1,256480182
- 8 6 9-1,165
2,2921,0352,145
6071,535
378171
1,22557053
- 8 7 0-1,179
2,4812,349
158-1,467
- 8 4 9-2,558
- 3 7 5732
-1,133
-8,155-5,175- 4 9 6 5- U 9 6
-1,089- 1 1 3 2
-794-1,950
78716
529-953
657-566-799
OtherU.S.
Govern-ment
assets
-1,100- 9 1 0
-1.085-1,662-1,680
-1,6051,543
-2,423-2,274-2,200
-1,589-1,884-1,568-2,644
«366
-3,474-4,214-3,693-4,660-3,746
-5,162-5,107-6,143-5,013
- 8 0 3-1,700-2,555-1,086
-1,130-1,251-1,204-1,429
-2,037-1,235-1,474
U.S.privateassets
-5,144-5,235-4,623
5,986-8,050
-5,3366,347
-7,386-7,833-8,206
-10,229-12,940-12,925-20,388-33,643
-35,380-44,498-30,717-57,202-59,453
-72,802-100,694-107,790
-43,281
-30,068-38,577-22,867-16,279
-22,447175
-8,548-12,461
70517,23718,297
Foreign assets in the U.S., net[increase/capital inflow ( + ) ]
Total
2,2942,7051,9113,2173,643
7423,6617,3799,928
12,702
6,35922,97021,46118,38834,241
15,67036,51851,31964,03638,752
58,08681,31395,18181,722
28,34433,77218,38414,680
15,88812,45219,57833,804
15,66040,405
6,234
Foreignofficialassets
1,473765
1,2701,9861,660
134- 6 7 23,451- 7 7 4
-1,301
6,90826,87910,4756,026
10,546
7,02717,69336,81633,678
-13:665
15,4975,0033,3185,339
-3,22113992,4772,664
- 2 5 21,739
-2,7036,555
-2,784. - 3 4 5-1,022
Otherforeignassets
8211,939
6411,2311,983
6074,3333,928
10,70314,002
- 5 5 0-3,90910,98612,36223,696
8,64318,82614,50330,35852,416
42,58976,31091,86376,383
31,56532,37315,90712,017
16,13910,71422,28127,249
18,44440,750
7,256
Alloca-tions ofspecialdrawingrights(SBRs)
867717710
*1,139"
1,1521,093
Statisticaldiscrepancy
Total(sum of
the itemswith signreversed)
-1,019- 9 8 9
-1,124360907
458629
- 2 0 5438
-1,516- 2 1 9
-9,7791,879
-2,6541,458
5,91710,544
-2,02312,54025,404
24,98222,27532,9169,331
3,4505,710
12,80810,947
11,420-1,833
1,491-1,748
6,0023,336
10,642
Of which:Seasonaladjust-ment
discrep-ancy
- 9 6 4487
-2,2762,752
- 5 7 9439
-2,5182,657
154104
-2,386
8 Includes extraordinary U.S. Government transactions with India.6 Consists of gold, special drawing rights, convertible currencies, and the U.S. reserve position in the International Monetary Fund(IWIr).
Note.—Quarterly data for U.S. official reserve assets and foreign assets in the United States are not seasonally adjusted.Source: Department of Commerce, Bureau of Economic Analysis.
345
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-99.—U.S. merchandise exports and imports by principal end-use category, 1965-84
[Millions of dollars; quarterly data seasonally adjusted]
Year or quarter
19651966196719681969
1970 .1971197219731974 .
19751976197719781979
1980198119821983 ZL
1982:iII ..inIV
1983:
ItIllIV
1984:|It|||p
Exports
Total
26,46129,31030,66633,62636,414
42.46943,31949.38171,41098,306
107,088114,745120.816142,054184,473
224,269237,085211,198200.257
55,48255,11852.07948,519
49,24648,74550,43751,829
53,93554,56355,497
tst
6,3056,9496,4536,2976,098
7,3817,8369,51417.97722,410
22,24323,38024,33229,90235,595
42,15644,03537,23036,639
10,01710,4238,4088,382
8,8238,7069,3069,804
10,3049,2759,031
Nonagricultural
Total
20,15622,36124,21327,32930,316
35,08835,48239,86853,43375,896
84,84691,36596,484112,152148,879
182,113193,050173,968163,618
45,46544,69543,67140,137
40,42340,03941,13142,026
43,63145,28846,466
Capitalgoodsexceptauto-motive
8,0528,9079,93411,11112,422
14,65915,37216,91421,99930,878
36,63939,11339,76646,47158,843
74.21081,61473,67568,279
19,33619,15318,45916.727
17,32416,91616,85717,182
17,90018,16918,432
Othergoods
12,10413,45414,27916,21817,894
20,42920,11022,95431,43445,018
48,20752,25256,71865,68190,036
107,903111,436100,29395,339
26,12925,54225,21223,410
23,09923,12324,27424,844
25,73127,11928,034
Imports
Total
21,51025,49326.86632.99135,807
39,86645,57955,79770,499
103.811
98,185124,228151,907176,020212,028
249,781265,086247,667261,312
62,54660,92164,44259,758
58,52363,61567,93871,236
79,79080,40888,631
Petro-leumand
products
2,0342,0782,09123842,649
2,9293,6414,6508,415
26,608
27,01834,57244,98242,31260,482
79,26377,79461,27053,804
15,82813,33416,79815,310
10,77012,82715,92214,284
13,85214,90314,463
Nonpetroleum
Total
19,47623,41524,77530,60733,158
36,93941,93751,14762,08577,204
71,16789,656
106,925133,708151,546
170,518187,292186,397207,508
46,71847,58747,64444,448
47,75350,78952,01656,951
65,93865,50574,168
Indus-trial
suppliesand
materi-als
9,12310,2359,95612,02711,662
12,25013,59516,00219,18827,421
23,61929,14534,95141,30148,494
54,02757,42850,04153,588
13,04912,37412,43312,186
12,43013,49313,64314,023
16,40416,35217,699
Othergoods
10,35313,18014,81918.58021,496
24,68928,34235,14542,89749,783
47,54860,51171,97492,407103,052
116,491129,864136,356153,920
33,66935,21335,21132,262
35,32337,29638,37342,928
49,53449,15356,469
Note.—Data are on an international transactions basis and exclude military shipments.Source: Department of Commerce, Bureau of Economic Analysis.
346Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-100.—U.S. merchandise exports and imports by area, 1975-84
[Millions of dollars]
Item 1975 1976 1977 1978 1979 1980 1981 1982 1983
1984 first3 quartersat annual
rate1
Exports ,
Industrial countries....
CanadaJapanWestern EuropeAustralia, New Zealand,
and South Africa
Other countries, exceptEastern Europe
OPEC2..Others.
Eastern Europe
International organizationsand unallocated
107,088
66,496
23,5379,567
29,884
3,508
37,343
9,95727,386
3,249
114,745
72,335
26,33610,19631,883
3,920
38,287
11,56126,726
4,123
120,816
76,970
28,53310,56634,094
3,777
40,951
12,87728,074
2,895
142,054
87,948
31,22912,96039,546
4,213
50,213
14,84635,367
3,893
Imports
Industrial countries...
Canadaj a p a n
Western EuropeAustralia, New Zealand,
and South Africa
Other countries, exceptEastern Europe
OPEC2...Other"..
Eastern Europe
International organizationsand unallocated
98,185
56,117
21,85411,25720,764
2,242
41,334
18,89722,437
734
124,228
67,665
26,65215,53123,003
2,479
55,379
27,40927,970
875
309
151,907
79,447
29,86418,56528,226
2,792
70,679
35,77834,901
1,127
654
176,020
99,357
33,75824,54136,618
4,440
74,403
33,28641,117
1,508
752
184,473
115,930
38,69017,62954,177
5,434
62,630
14,55648,074
5,913
212,028
112,809
39,22926,26141,826
5,493
96,137
45,03951,098
1,896
1,186
224,269
137,152
41,62620,80667,603
7,117
82,941
17,36865,573
4,143
33
249,781
127,908
42,90331,21747,255
6,533
119,142
55,60263,540
1,444
1,287
237,085
141,918
46,01621,79665,108
8,998
90,639
21,09769,542
4,440
265,086
144,339
48,25837,59852,873
5,610
119,194
49,93469,260
1,553
211,198
127,254
39,20320,69459,701
7,656
80,130
20,65159,479
3,749
65
247,667
144,152
48,52637,68552,908
5,033
102,425
31,51770,908
1,067
23
200,257
126,951
43,81221,67754,878
6,584
70,323
15,14955,174
2,918
66
261,312
154,880
54,36041,30753,896
5,317
105,061
25,18579,876
1,371
218,660
141,129
53,76123,15156,291
7,927
73,667
13,78859,879
3,820
44
331,772
204,013
68,16558,15672,096
5,596
125,682
27,40398,279
2,077
1 Preliminary; seasonally adjusted.2 Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.3Latin American Republics, 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.
347Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-101.—U.S. merchandise exports and imports by commodity groups, 1965-84
[Millions of dollars; monthly data seasonally adjusted]
Year ormonth
Totaldomes-tic andforeign
exports*
Merchandise exports
Domestic exports
Total1 2
Food,bever-ages,and
tobacco
Crudemateri-als andfuels8
Manu-facturedgoods4
Merchandise imports
General imports5
Total2
Food,bever-ages,and
tobacco
Crudemateri-als andfuels3
facturedgoods4
Total,c.i.f.
value8
Merchandise trade balance
Exportsless
imports,customs
value
Exportsless
imports,f.a.s.
Exportsless
imports,cl.f.
F.a.s, value7 Customs value
1965196619671968196919701971197219731974
1974*1975*1976*1977*1978*1979*1980
19811982198319841983:JanFebMar...
fcJune..July...Aug...Sept..OctNov...Dec...
1984:JanFebMar...AprMay,..June..July....Aug...,Sept..,OctNov...,Oec...
26,74229,49031,03034,06337,33242,65943,54949,19970,82397,998
98,092J 07,652115,223121,232143,681181,860220,630
233,677212,193200,486217,865
17,23216,31216,69016,09515,65516,95916,48616,58217,25717,03317,06317,298
18,32717,21217,72717,52217,95017,63319,44218,03618,17718,38718,37319,230
26,39929,05430,64633,62636,78842,02542,91148,39969,73096,634
96,679106,161113,549119,024141,142178,633216,515
228,899207,076195,917212,034
16,84615,97016,27315.74315,27516,60216,15816,19516,89216,58016,66416,895
17,84816,78617,21217,07217,46417,17818,96317,57817,67617,86217,83518,710
4,5195,1864,7104,5924,4465,0585,0766,56912,93815,233
15,23316,79317,23415,96320,60424,58730,407
33,20626,977!26,979j27,312
2,29112,2032,3362,0792,0032,142
2,0632,0462,3142,4522,6052,449
2,4022,1032,4572,1842,1621,847
2,1952,1002,6372,3152,4932,440
4,2734,4044,7264,8655,006
6,6926,4417,091
10,73515,802
15,80215,19716,09518,57920,95728,22233,719
33,02233,51829,55531,482
2,7442,4062,3732,4832,3322,425
2,3882,7452,6912,3452,2702,532
2,6642,5322,7912,5232,8332,6032,7402,6422,3782,2432^852,966
17,43319,21820,84423,81826,785
29,34430,44333,74044,73163,523
21,42725,61826,88933,22636,043
39,95145,56355,58369,476
101,394
4,0134,5904,7015,3655,308
6,2306,4047,3799,235
10,701
5,4405,7185,3676,0316,391
6,5427,2688,838
13,44631,842
11,24414,44615,75620,62423,011
25,90730,41437,76745,00156,202
F.a.s. value7
63,52370,95177,24180,15194,473116,587143,891
102,55998,503123,477150,390174,757209,458244,871
10,7099,92311,89114,22715,74317,73518,551
32,06432,59641,47453,55451,90171,39093,973
55,22351,08064,77576,554100,317112,226125,122
Customs value
154,283139,716132,409143,142
11,13910,78710,97310,63210,37511,51511,02810,88211,14711,24111,27711,407
12,09711,37211,14711,56011,62811,83712,98811,76611,92412,43612,10812,491
260,982243,952258,048325,726
20,12718,80419,52819,91421,44620,91621,82822,71422,45124,33323,11522,976
26,58626,14726,77128,36825,56925,35631,88326,56729,43026,31327,03326,169
18,35017,81718,81921,626
1,7001,4331,5581,5931,7121,4901,4861,4801,4661,7471,5651,591
1,7591,7731,8652,0281,7611,5762,0021,7111,8031,9241,7051,719
92,87374,40468,03772,758
5,9024,4224,6484,5175,8295,5676,0116,5816,4656,8555,8915,360
6,0636,0396,3086,6365,6186,0716.4945,7885,8096,0946,1485,738
142,475144,022163,449221,515
11,97712,43812,60213,01213,23913,10113,79613,91213,75415,10715,12415,478
17,94817,65217,82718,76617,40216,88922,37618,32620,99417,57918,21117,965
28,74535,32038,24142,42948,34258,86273,573108,392
110,875105,880132,498160,411186,045222,228256,984
273,352254,885269,878341,177
21,07519,68220,38720,82122,40621,852
22,85823,74623,47725,46524,18524,033
27,79427,30527,99229,71126,78926,543
33,50327,89530,82427,56728,31027,430
5,3153,8724,141
8371,289
2,708=2,014=6,384
1,348=3,396
-4,4679,149
=8,254-29,158- 31,076-27,599
=24,241
-27,305-31,759^57,562-107,861
-2,895-2,493-2,837=3,819= 5,791-=3,957
-5,341-6,132-5,195- 7,300-6,052-5,678
- 8,260-=8,935= 9,044-10,847-7,619^7,723
= 12,440-8,531= 11,253=7,927-8,661-6,940
2,283-1,257
- 9 0 9
230-4,793-9,663
2,752-10,395
-12,7831,772
-17,274- 39,179^42,364=40,368
-36,354
-39,675-42,691-69,392
= 123,312
-3,843-3,371-3,696-4,726-6,751-4,893
-6,371-7,164-6,221-8,432-7,122-6,735
-9,468-10,093-10,264= 12,190
=8,839-8,910
= 14,061-9,859
-12,647-9,180- 9,937-8,200
1 Department of Defense shipments of grant-aid military supplies and equipment under the Military Assistance Program are excluded8 Total includes commodities and transactions not classified according to kind.3 Includes fats and oils.4 Includes machinery, transportation equipment, chemicals, metals, and other manufactures. Export data for these items include
military grant-aid shipments through 1977 and exclude them thereafter.6 Total arrivals of imported goods other than intransit shipments.• C.i.f. {cost, insurance, and freight) import value at first port of entry into United States. Data for 1967-73 are estimates.7 F.a.s. (free alongside ship) value basis at U.S. port of exportation for exports and at foreign port of exportation for imports.Note.—Data are as reported by the Bureau of the Census adjusted to include silver ore and 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 for 1980 and 1981 include trade of the U.S. Virgin Islands, except that for 1980 Virgin Islands exports are reflected only in thefigures for domestic and foreign exports combined, total domestic exports, and trade balance.
*Data for 1974-79 for domestic and foreign exports combined, total domestic exports, total general imports, and trade balanceinclude trade of the Virgin Islands.
Source: Department of Commerce (Bureau of the Census and International Trade Administration, Office of Trade Information andAnalysis, Trade Statistics Division).
348Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-102.—International investment position of the United States at year-end, 1976-83
[Billions of dollars]
Type of investment 1976 1977 1978 1979 1980 1981 1982 1983
Net international investment position of the United States...
U.S. assets abroad..
U.S. official reserve assetsGoldSpecial drawing rightsZZ1Reserve position in the International Monetary
Foreign currencies "Z "."..".
Other U.S. Government assets, other than officialreserve assets
U.S. loans and other long-term assetsRepayable in dollarsOtherU.S. foreign currency holdings and U.S. short-
term assets
. privateDirect investments abroadForeign securities
BondsCorporate stocks
U.S. claims on unaffiliated foreigners reportedby U.S. nonbanking concerns
U.S. claims reported by U.S. banks, not included
Foreign assets in the United States..,
Foreign official assets in the United StatesU.S. Government securities
U.S. Teasury securitiesOther
Other U.S. Government liabilitiesU.S. liabilities reported by U.S. banks, not in-
cluded elsewhereOther foreign official assets
Other foreign assets in the United States
Direct investments in the United StatesU.S. Treasury securitiesU.S. securities other than U.S. Treasury securi-
tjtjgsCorporate and other bondsCorporate stocks.
U.S. liabilities to unaffiliated foreigners reportedby U.S. nonbanking concerns
U.S. liabilities reported by U.S. banks, not in-cluded elsewhere
83.6
347.2
18.711.62.4
4.4.3
46.044.141.3
2.8
1.9
282.4136.844.234.79.5
20.3
81.1
263.6
104.4
72.670.6
2.08.9
17,25.8
159.1
30.87.0
54.912.042.9
13.0
53.5
72.7
379.1
19.311.72.6
4.9.0
49.547.745.2
2.6
1.8
310.2146.049.439.310.1
22.3
92.6
306.4
140.9
105.4101.1
4.310.3
18.07.2
165.5
34.67.6
51.211.539.8
11.9
60.2
76.1
447.8
18.711.71.6
1.04.4
54.252.349.8
2.4
1.9
375.0162.753.442.111.2
28.1
130.8
371.7
173.1
128.5124.0
4.512.7
23.38.5
198.7
42.58.9
53.611.5
42.1
16.0
777
94.5
510.6
19.011.22.7
1.33.8
58.456.554.1
2.4
1.9
433.2187.956.842.014.8
31.5
157.0
416.1
159.9
106.6101.7
4.912.7
30,5
256.3
54.514.2
58.610.348.3
18.7
110.3
106.1
606.9
26.811.22.6
2.910.1
63.661.859.62.2
1.7
516.6215.462.743.5
19.2
34.7
203.9
500.8
176.1118.2111.3
6.913.4
30.4
14.1
324.7
83.016.174.19.5
64.6
30.4
121.1
143.1
719.6
30.111.24.1
5.19.8
68.567.064.72.3
1,4
621.1228.3
63.445.8
17.6
35.9
293.5
576.5
180.5125.1117.0
8.113.1
26.715.6
396.0
106.218.5
75.410.764.6
30.6
165.4
149.5
838.1
34.011.15.3
7,310,2
74.472.770.7
2.0
1.7
729.8221.5
75.656.7
18.9
28.2
404.6
688.6
189.0132.5124.9
7.613.5
25.018.0
499.6
121.925.8
93.616.876.7
27.1
231.3
106.0
887.5
33.711.15.0
11.36.3
79.377.675.7
1.9
1.7
774.4226.1
84.858.3
26.5
33.5
430.0
781.5
193.9136.9129.7
7.213.7
25.417.9
587.6
133.533.9
114.617.497.2
25.2
280.3
Note.—For details on the series, see Survey of Curwit\Bu$ine$$, August 1984.Source: Department of Commerce, Bureau of Economic Analysis.
349
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-103.—International reserves, selected years, 1952-84
[Millions of SDRs; end of period]
Area and country 1952 1962 1972 1980 1981 1982 1983
1984
No vein-ber
All countries
Industrial countries..,
United States...CanadaAustraliajapanNew Zealand
AustriaBelgium...Denmark..FinlandFrance
Germany .. . •IcelandInlandItalyNetherlands
NorwaySpainSwedenSwitzerlandUnited Kingdom
Oil-exporting countries..,
AlgeriaIndonesia..IranIraqKuwait
LibyaNigeriaOmanQatarSaudi Arabia..
United Arab Emirates..Venezuela
49,388
38,582
24,7141,944
9201,101
183
1161,133
150132
9608
318722953
164134504
1,6671,956
1,699
8431417713150
500
Non-otl developing countries..,
AfricaAsiaEuropeMiddle EastWestern Hemisphere..
443
8,573
966825
2,173
62,851
52,535
17,220256111682,021
251
1,0811,753
256237
4,049
6.958
3594,0681,943
3041,045
8022,9193,308
2,030
18610821119397
96289
268
147,333
110,282
12,1125,5725,656
16,916767
2,5053,564787664
9,224
21,90878
1,0385,605M07
1,2204,6181,4536,9615,201
9,956
454531885720335
2,6943463456
2,303
583
8,172
1,6352,5501,348940
1,699
354,893
211,904
21,4793,1191,603
20,164277
4,8797,3302,7121,501
24,301
41,430138
2,25520,47710,669
4,7839,8132,89315,19016,851
69,299
3,1534,3118,150
369,772
212,693
25,5023,7171,713
25,083580
5,2795,4512,2461,319
21,991
40,892199
2,29019,6319,562
5,4149,7943,30614,92513,757
75,299
3,3704,416
363,749
211,918
29,9183,4286,053
22,001577
5,5444,7572,1111,420
17,850
43,909133
2,39015,10710,723
6,2727,4503,397
16,93011,904
69,604
2,3912,959
395,616
232,398
30,8314,0168,749
24,346744
5,0525,6993,5151,227
21,826
44,092144
2,53421,53711,253
6,3737,5814,06517,27511,496
68,660
1,9913,660
432,742
252,435
33,0843,1178,018
2713631,995
4,4495,8094,5573,069
25,458
44,422164
, . . . „ . .
11,155
9,75612.8384,232
16,42710,071
68,603
1,8314,882
1,595
26,137
3,1686,6406,4282,4067494
3,169
10,3728,049
463286
18,536
1,6005,579
71,851
4,48024,9688,0608,311
26,032
3,583
7,8603,371
649339
27,855
2,7757,415
75,450
4,20827,466
8,1509,001
26,625
5,449
6,5251,486
801382
26,948
2,0376,365
74,361
3,84634,393
6,87410,13219,195
5,048
5,110970738404
26,224
2,0087,701
83,087
4,34340,801
8,1379,478
20,328
4,344
3,8141,230
599
2,1889,217
96,823
3,90047,001
8,8377,986
29,099
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 USSR. , other Eastern Europeancountries, and Cuba (after 1960).
U.S. dollars per SDR (end of period) are: 1952 and 1962—1.00000; 1972-1.08571; 1979-1.31733; 1980-1.27541; 1981—1.16396; 1982—1.10311; 1983—1.04695; and November 1984—.98935.
Source: International Monetary Fund, "International Financial Statistics."
350
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-104.—Exchange rates, 1967-84
[Cents per unit of foreign currency, except as noted]
Period
March 1973
196719681969
19701971 .'".'19721973 ....1974
19751976197719781979 ....
19801981...:.198219831984
1983:|IIillIV
1984:
|ff|JIV
March 1973
196719681969
19701971197219731974
19751976197719781979
198019811982 :19831984
1983:
|| ....IllIV
1984:||*IllIV
Belgian franc
2.5378
2.01252.00261.9942
2.01392.05982.27162.57612.5713
2.72532.59212.79113.18093.4098
3.42472.70072.19821.96211.7348
2.11102.01781.88381.8357
1.81191.80951.69501.6230
Netherlandsguilder
34.834
27.75927.62627.592
27.65128.65031.15335.97737.267
39.63237.84640.75246.28449.843
50.36940.19137.47335.12031.245
37.54535.82033.81633.300
32.86532.73830.36529.011
Canadiandollar
100.333
92.68992.80192.855
95.80299.021100.93799.977102.257
98.297101.41094.11287.72985.386
85.53083.40881.07781.13377.244
81.46381.21481.11080.743
79.66377.36676.11175.837
Swedish krona
22.582
19.37319.34919.342
19.28219.59221.02222.97022.563
24.14122.95722.38322.13923.323
23.64719.86016.06313.04412.103
13.48613.26012.80612.626
12.55612.49211.88711.477
French franc
22.191
20.32320.19119.302
18.08718.14819.82522.53620.805
23.35420.94220.34422.21823.504
23.69418.48915.29313.18311.474
14.51713.40312.56112.251
12.06012.00411.16010.673
Swiss franc
31.084
23.10423.16923.186
23.19924.32526.19331.70033.688
38.74340.01341.71456.28360.121
59.69751.02549.37347.66042.676
49.59548.17846.56346.306
45.52544.51440.93839.726
German mark
35.548
25.08425.04825.491
27.42428.76831.36437.75838.723
40.72939.73743.07949.86754.561
55.08944.36241.23639.23535.230
41.51340.25637.82837.344
37.05236.89134.25132.726
United Kingdompound
247.24
275.04239.35239.01
239.59244.42250.08245.10234.03
222.16180.48174.49191.84212.24
232.58202.43174.80151.59133,56
153.28155.21150.95146.91
143.50139.58129.65121.50
Italian lira
0.17604
.16022
.16042
.15940
.15945,16174.17132.17192.15372
.15328
.12044
.11328
.11782
.12035
.11694
.08842
.07411
.06605
.05708
.07139
.06773
.06351
.06156
.06019
.05967
.05558
.05288
Japanese yen
0.38190
.27613
.27735
.27903
.27921
.28779
.32995
.36915
.34302
.33705
.33741
.37342
.47981
.45834
.44311
.45432
.40284
.42128
.42139
.42436
.42109
.41252
.42714
.43326
.43539
.41055
.40635
Multilateral trade-weighted value ofthe U.S. dollar (March 1973=100)
Nominal
100.0
120.0122.1122.4
121.1117.8109.199.1101.4
98.5105.6103.392.488.1
87.4102.9116.6125.3138.2
119.4123.0128.7130.2
131.6132.8141.7147.2
Real*
100.0
98.899.2
93.997.393.184.283.2
84.8100.8111.7117.3128.7
112.1115.3120.5121.4
122.4123.3132.3136.7
1 Adjusted by changes in consumer prices.Source: Board of Governors of the Federal Reserve System.
351
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-105.— World trade: Exports and imports, 1965, 1970, 1975, and 1980-84
[Billions of U.S. dollars]
Area and country 1965 1970 1975 1980 1981 1982 1983 1984 >
Developed countriesa
United States....CanadaJapan
European Community4
FranceWest GermanyItalyUnited Kingdom....
Other developed countries..
Developing countries
OPEC«..Other....
Communist countries •
U.S.S.REastern Europe..China.... .......
TOTAL.
Developed countries3...
United States .....CanadaJapan...
European Community4
Prance ,West Germany....ItalyUnited Kingdom..
Other developed countries..
Developing countries
OPEC 6Other.
Communist countries"..
U.S.S.REastern Europe..China
TOTAL.
131.3
27.58.48.5
65.2
10.217.97.2
13.8
21.7
34.5
10.324.2
23.2
8.211.82.0
189.0
138.7
23.28.78.2
70.5
10.417.67.4
16.1
28.2
36.0
6.429.6
22.5
8.011.61.8
197.2
Exports, f.o.b.3
226.6
43.216.719.3
113.5
18.134.213.219.4
33.8
52.5
16.935.6
34.9
12.818.22.2
314.0
584.9
108.134.155.8
299.6
53.190.234.843.4
87.4
207.8
111.596.3
90.3
33.445.3
7.1
883.0
1,284.5
220.867.7
130.4
665.8
116.0192.977.7
110.1
199.7
557.1
298.9258.2
201.7
76.486.218.9
2,043.3
1,259.3
233,772.7
151.5
612.4
106.4176.175.3
102.2
188.9
541.3
278.1263.2
205.2
79.483.821.5
2,005.8
1,192.9
212.370.5
138.4
590.0
96.7176.473.597.0
181.8
462.8
215.4247.4
223.9
87.291.422.9
1,879.6
Imports, cJ.f.7
1,179.8
200.576.7
147.0
575.2
94.9169.472.791.6
180.3
431.1
176.4254.8
235.7
91.796.723.7
1,846.6
1,288.9
218.089.6
168.8
615.5
100.1170.172.792.7
197.0
470.6
185.2285.3
244.6
93.5100.026.6
2,004.1
238.0
42.714.318.9
118.7
19.129.915.021.9
43.4
53.1
9.943.2
34.1
11.718.52.2
325.2
618.9
105.936.257.9
306.6
54.074.938.553.3
112.4
180.1
52.1128.0
100.8
37.151.37.4
899,8
1,428.9
257.062.8
141.3
729.1
134.9188.099.7
115.5
238.7
440.8
133.0307.8
200.4
68.591.220.7
2,070.1
1,361.5
273.470.3
142.9
645.4
121.0163.991.1
102.7
229.6
488.6
156.5332.1
200.0
73.287.519.3
2,050.1
1,278.7
254.958.4
131.5
615.4
115.7155.486.299.7
218.5
463.1
166.1297.0
203.1
77.887.117.9
1,944.9
1,254.5
269.965.1
126.4
590.7
105.4152.980.4
100.2
202.5
421.8
140.2281.6
213.0
80.491.719.6
1,889.3
1,405.0
327.177.6
138.4
626.1
105.9155.681.6
106.2
235.8
432.5
132.9299.6
220.2
80.595.821.9
2,057.71 Preliminary estimates.2 Free-on-board ship value.9 Includes the OECD countries, South Africa, Israel, and non-OECD Europe.4 Includes Belgium-Luxembourg, Denmark, Greece. Ireland, and the Netherlands, not shown separately.8 Includes Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia,
Venezuela.<* Includes North Korea. Vietnam, Albania, Cuba, Mongolia, and Yugoslavia, not shown separately.7 Cost, insurance, and freight value, except Eastern Europe (except Hungary) and U.S.S.R., which are f.o.b. (free on board).Sources: International Monetary Fund, Organization for Economic Cooperation and Development, and Council of Economic Advisers.
United Arab Emirates, and
352Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-106.— World trade balance and current account balances, 1965, 1970, 1975, and 1980-84
[Billions of U.S. dollars]
Area and country
Developed countries3
United StatesCanada.Japan
European Community*
FranceWest GermanyItalyUnited Kingdom
Other developed countries
Devetooins countries
OPEC6
Other
Communist countries6
US.S.REastern EuropeChina
TOTAL*
Developed countries3
United StatesCanada.japan .
European Community4
franceWest GermanyItalyUnited Kingdom
Other developed countries
Developing countries
OPEC5
Other
Communist countries8
U.S.S.REastern EuropeChina
TOTAL
1965 1970 1975 1980 1981 1982 1983 1984'
World trade balance2
- 7 . 4
4.3-.2
.3
- 5 . 3
_ 2
- 2- 2 . 3
- 6 . 5
- 1 . 5
3 9- 5 . 4
.7
.2
.2
.2
- 8 . 2
-11 .4
.52.5
.4
- 5 . 3
- 1 . 04.3
- 1 . 8- 2 . 4
- 9 . 6
- . 6
7.0- 7 . 6
.8
1.1- . 3
.0
- 1 1 . 2
- 3 4 . 0
2.2- 2 , 1- 2 . 0
»7.0
- . 815.2
- 3 . 7- 9 . 9
- 2 5 . 0
27.7
59.431.7
10.5
- 3 . 7- 6 . 0
16.8
-144.4
- 3 6 . 24.9
- 1 0 . 9
-63.3
- 1 8 . 94.9
- 2 2 . 0- 5 . 4
- 3 9 . 0
116.2
165.9- 4 9 . 6
1.3
7.9- 5 . 0- 1 . 8
- 2 6 . 9
-102.2
- 3 9 . 62.48.6
- 3 2 . 9
-14 .512.2
- 1 5 . 8
- 4 0 . 7
52.7
121.6- 6 8 . 9
5.2
6.2- 3 . 7
2.2
- 4 4 . 3
- 8 5 . 7
- 4 2 . 612.16.9
-25 .4
- 1 9 . 021.1
- 1 2 . 72.7
- 3 6 . 7
- . 3
49.3-49 ,6
20.8
9.44.35.1
65.2
-74 .7
- 6 9 . 311720.5
-15 .5
10516.5
- 7 . 7- 8 . 5
- 2 2 . 2
9.3
361- 2 6 . 8
22.7
11.35.04.0
- 4 2 J
-116 .1
-109 ,112130.3
- 1 0 . 7
5 814.6
-9.C- 1 3 . 4
- 3 8 , 8
38.1
523- 1 4 . 3
24,4
1304.24.7
-53 ,6
Current account balances8
3.2
5.4- 1 . 1
.9
.8
4- 1 . 6
2.2
- 2 . 9
-2
4.7
2.31.12.0
2.8
.1
.9
.82.0
- 3 . 4
8.5
- . 5- 8 . 0
- . 8
.1- . 8
- 4 . 6
0.2
18.14.7
- . 7
3.4
2.74.0
- . 6- 3 . 3
- 1 5 . 9
- . 9
27.0- 2 7 . 9
- 1 1 . 1
- 4 . 6- 6 . 4
- 1 1 . 8
- 6 4 . 5
1.9- 1 . 0
- 1 0 . 7
- 3 5 . 4
- 4 . 2- 1 5 . 7
- 9 . 78.4
- 1 9 . 3
48.8
109.8- 6 1 . 0
- 4 . 6
1.9- 5 . 5- 1 . 0
- 2 0 . 3
-30 .4
6.3- 5 . 1
4.8
- 1 1 . 8
- 4 7- 5 . 8- 8 . 114.5
- 2 4 . 6
- 2 8 . 6
49.8-78 .4
- . 4
_ 2- 3 . 7
3.5
-59 .4
- 3 3 . 1
- 9 . 22.26.9
- 9 . 5
- 1 2 . 13.8
- 5 . 59.1
- 2 3 . 5
80.8
-15 .465.4
11.6
4.31.75.6
-102.3
- 2 6 . 8
-41 .61.4
20.8
3.6
- 4 44.1
.84.4
- 1 1 . 0
- 5 6 . 8
- 1 8 . 1-38 ,7
12.5
4.73.84.0
- 7 1 . 1
- 7 5 . 5
-102.41.0
32.3
- 1 . 0
- . 32.3
- 1 . 0- 1 . 5
- 5 . 4
- 3 0 . 0
2.0- 3 2 . 0
4.82.9
1 Preliminary estimates.2 Exports f.o.b. (free-on-board ship value) less imports c.i.f. {cost, insurance, and freight).3 Includes the OECD countries, South Africa, Israel, and non-OECD Europe.4 Includes Belgium-Luxembourg, Denmark, Greece. Ireland, and the Netherlands, not shown separately.5 Includes Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, andVenezuela.
* Includes North Korea, Vietnam, Albania, Cuba, Mongolia, and Yugoslavia, not shown separately.7 Asymmetries arise in global payments aggregations because of discrepancies in coverage, classification, timing, and valuation in therecording of transactions by the countries involved and because freight charges are attributed to the cost of imports.
0 Includes only countries listed.Sources: International Monetary Fund, Organization for Economic Cooperation and Development, and Council of Economic Advisers.
353
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-107.—Industrial production and consumer prices, major industrial countries, 1960-84
[1967=100]
Year or quarter
I960196119621963196419651966196719681969
1970197119721973197419751976197719781979
19801981198219831984 "
1983:I ;.IIIllIV
1984:
IIIII
I9601961196219631964 :.19651966196719681969
1970197119721973 *197419751976197719781979
19801981198219831984
1983:
ifZZZZZZZZZZZ!III. , . ,IV
1984:
IIIIIIV
UnitedStates Canada Japan
EuropeanCommu-
nity*France West
GermanyItaly United
Kingdom
Industrial production *
66.266.772.276 581.789.897.8
100.0106.3111.1107.8109.6119.7129.8129.3117.8130.5138.2146.1152.5
147 0151.0138.6147.6163 5
138.5144.5151.8155.5
159.8163.1165.6165.3
88.789.690.691.792.994.597.2
100.0104.2109.8
116.3121.3125.3133.1147.7161.2170.5181.5195.4217.4
246.8272.4289.1298.4311.1
293.2296.9300.5303.1
306.4309.7313.1315.4
63.165 671.275 782.689.796.2
100.0106.4113.7
115.3121.5130.7144.6149.2140.3148.5152.7157.8167.6
1651165 9149.5157.6
149.8154.2160.6166.5
167.4168 7174.1
85.986.787.789.290 993196.5
100.0104 0108.8
112.4115.6121.2130.3144.5160.1172.1185.9202.5221.0
243.5273.9303.5321.0335 0
314.5318.8324.0326.8
330.7 .333.6336.7339.0
43.051.255.461771474.283.8
100.0115.2133.4
151.8155 7167.0190.5183.1163.9182.0189.7201.1215.3
2252227 5228.4236.5
228.6232.7239.0245.5
253.6259 9264.2
68.371.876.782.585 891696 3
100.0105 3110.9
119 3126.5132.3147.9184.0205.8224.9243.0252.3261.3
282.3296.2304.1309.7
306.5310.1309.0312.6
313.9316.6316.0
74.778.181.384.891.094.798.4
100.0107.4117.6
123.3126.1131.7141.4142.3132.8142.6145.9149.7156.8
155.8152.1149.7151.1
148.1148.5151.8154.1
155.1153.0156.0
Consume
79.281.284.387.690 794197 5
100.0103 7107.9
113.2120.2127.5138.2156.2176.7195.2214.3229.2250.0
280.9312.1343.0368.5
359.6365.7371.3377.5
383.1389.3393.0
70737886909398
100104114
120128135145148139149152
161160158159
159159159160
163161164
r prices3 78.03 80.6
85.489.592 594 897 4
100.0104 5111.3
1171123.5131.1140.7160.0178.9196.1214.5233.9259.1
294.2332.7373.1407.9
393.2404.4413.1420.8
428.1436.1443.7
78.482.886.188 996 6
102.1103.0100.0109.2123.2
1311133.6138.7147.7145.1137.1149.1152.0154.1161.5
162 01591154 5155.7
152 3155.7155.2159.9
161.4153 7163.1
82.984.887.489.992 095 0984
100.01016103.5
1071112.7119.0127.2136.1144.2150.5156.0160.2166.9
175.8186.9196.8203.3
201.2202.2204.3205.2
207.0208.0208.0
59.265.571.978 479282 893 3
100 0106.4110.5
117 6117 5122 7134 6140 6127 6143.5145.1147.9157.6
166 5163 8158 8153.7
154 6150.5154.5155.2
156.8157 6160.6
74.175.779.285.190194 2964
100.01014104.1
109 2114.4121.0134.0159.7186.8218.1255.2286.2328.5
398.0472.4549.4631.8
609.7627.5643.0671.9
684.9699.6709.0
83.984.285,087 895 097 8993
100.0107.6111.3
11181112113 2123 3120 8114.4118.1124.2127.8132.8
1241119 61217125.7
123 9123.8126.6128.4
127.5124 9124.7
79.081.685.186.889693 997 6
100.0104 8110.3
117 4128.5137.7150.2174.3216.5252.4292.4316.6359.0
423.6473.9514.7538.3
525.3536.1543.0549.1
552.5563.7568.6
1 Consists of Belgium-Luxembourg, Denmark, France, Greece. Ireland, Italy, Netherlands, United Kingdom, and West Germany. Industrialproduction prior to July 1981 excludes data for Greece, which Joined the EC in 1981.
* All data exclude construction. Quarterly data are seasonally adjusted.3 Data for 1960 and 1961 are for Paris only.Sources: Department of Commerce (International Trade Administration, Office of Trade Information and Analysis, Trade Statistics
Division) and Department of Labor (Bureau of Labor Statistics).
354
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-108.—Civilian unemployment rate, and hourly compensation, major industrial
countries, 1960-84
[Quarterly data seasonally adjusted]
Year or quarter
19601961196219631964196519661967196819691970197119721973197419751976197719781979 ..198019811982198319841983.
11IIIIV .
1984:I ,
IIIIV
1960196119621963 . ...1964 ....1965196619671968196919701971197219731974197519761977197819791980198119821983
UnitedStates
5.56.75.55.75.24.53.83.83.63.54.95.95.64.95.68.57.77.16.15.87.17.69.79.67.5
10.410.19.38.5
7.97.57.47.2
36.737.739.240.342.042.844.847 050.453.957.661.164.469.076.485.592.3
100.0108.3118.8132.7145.2158.0163.4
Canada
6.56.75.55.24.43.63.43.84.54.45.76.26.25.55.36.97.18.18.37.47.57.5
11.011.911.3
12.512.211.611.2
11.311.411.311.2
29.729.228.429 230.3
fii$42.747.452 757 662.874.481.796.9
100.099.5
107.3118.7134.3143.9153.9
Japan France WestGermany
Civilian unemployment rate (percent)1
1.71.51.31.31.21.21.41.31.21.11.21.31.41.31.41.92.02.02.32.12.02.22.42.7
2.72.72.72.6
2.82.72.8
1.61.41.31.21.31.41.71.82.42.22.42.72.82.72.94.24.64.95.46.16.57.78.78.8
8.78.88.89.1
9.510.010.2
1.1.6.6
.43.3
1.31.1.6
'.&
u3.43.43.53.43.02.94.15.97.37.4
717.4757.3
7.27.47.57.3
Hourly compensation (1977=100)2
6.67.78.898
11.012 413.615 317 921.325.430 340155067.177.182.3
100.0136.1138.5143.8158.0147.0158.6
15.116.718.520121.923.725.126 930.330.832.436 844.257.763.387.991.4
100.0124.2149.9172.5155.1151.2147.3
10.512.213.914 816.117 619.120 221724.230.635943 559 369.380.284.3
100.0124.7146.2159.8137.8134.8132.8
Italy
3.22.82.52.12.4
303330313.12.82.93.43.22.83.03.43.63.73.9
3.94.34.85.35.6
495.4535.6
555.65.55.6
11.913.115.518 320.421822 825 427130.736.843152 366474.095.089.5
100.0119.1143.1165.3152 8154.0161.4
UnitedKingdom
2.11.92.73.32.4212232323.03.13.94.23.23.14.66.06.36.25.67.0
10.512.013.113.5
13113.313 3110
13 213.313.6
23.925.626.928129.9
35 536 033 636.642.450 057 663 276.795.692.0
100.0128.4166.8217.02151202.0188.0
1 Civilian unemployment rates, approximating U.S. concepts. Data for United Kingdom exclude Northern Ireland. Quarterly data forFrance, West Germany, and United Kingdom should be viewed as less precise indicators of unemployment under U.S. concepts than theannual data. Beginning 1977, changes in the Italian survey resulted in a large increase in persons enumerated as unemployed. However,many also reported that they had not actively sought work in the past 30 days. Such persons have been provisionally excluded forcomparability with U.S. concepts; their inclusion would more than double the rates shown for Italy.
2 Hourly compensation in manufacturing, U.S. dollar basis. Data relate to all employed persons (wage and salary earners and the self-employed) in the United States and Canada, and to all employees (wage and salary earners) in the other countries. For France andUnited Kingdom compensation adjusted to include changes in employment taxes that are not compensation to employees, but are taborcosts to employers.
Source: Department of Labor, Bureau of Labor Statistics.
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TABLE B-109.—Growth rates in real gross national product, 1961-84
[Percent change]
Area and country1961-65annualaverage
1966-70annualaverage
1971-75annualaverage
1976-80annualaverage
1980 1981 1982 1983 1984»
Developed countriesa...
United States..Canadajapan
European Community4
FranceWest Germany,...Italy
ingdom..
Other developed countries..
Developing countries
OPEC5..Other....
Communist countries*...
U.S.S.REastern Europe....China
TOTAL..
5.3
4.75.7
10.0
4.7
5.85.05.23.2
5.1
6.3
6.96.14.2
5.03.9
5.1
4.5
3.24.8
11.2
4.5
5.44.26.22.5
3.5
6.7
7.76.3
5.1
5.33.88.3
5.1
3.1
2,65.04.6
2.7
4.02.12.42.0
3.0
7.0
9.16.3
4.2
3.74.95.6
4.0
3.4
3.73.35.1
3.1
3.33.53.81.5
3.0
5.5
4.95.72.7
2.61.95.9
3.5
1.2
- . 31.04.9
1.1
1.11.83.9
-2 .6
.9
4.9
1.86.2
1.4
1.6
52
1.6
2.0
2.54.04.0
- . 3
.3- . 1
- L 3
2.3
1.4
- 1 . 22.4
1.2
1.9-1 .0
3.0
2.4
- 0 . 5
-2 .1-4 .2
3.2
1.6-1 .0
- 1 . 5
.9
— .5
2.2
2.6- . 87.4
.0
2.3
3.73.03.0
.8
U-1.5
2.5
2.8
.5
-1 .11.0
3.8
3.61.99.0
2.3
6.84.35.8
2.3
1.82.53.02.0
3.5
- . 53.6
3.2
2.01.8
13.0
1 Preliminary estimates.3 Includes the OECD countries, Israel, South Africa, and non-OECD Europe.»Not available.4 Includes Belgium-Luxembourg, Denmark, Greece. Ireland, and the Netherlands, not shown separately.6 Includes Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Ara
• Includes North Korea and Yugoslavia, not shown separately.
Sources: Department of Commerce, International Monetary Fund, Organization for Economic Cooperation and Development (OECD)Council of Economic Advisers.
Arabia, United Arab Emirates, and
and
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