ERP1986 Appendixes 2
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Transcript of ERP1986 Appendixes 2
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, 1929-85 252B-2. Gross national product in 1982 dollars, 1929-85 254B-3. Implicit price deflators for gross national product, 1929-85 256B-4. Fixed-weighted price indexes for gross national product, 1982
weights, 1959-85 258B-5. Changes in gross national product, personal consumption expendi-
tures, and related price measures, 1933-85 259Gross national product by major type of product, 1929-85 260Gross national product by major type of product in 1982 dollars,
1929-85 261B-8. Gross national product by sector, 1929-85 262B-9. Gross national product by sector in 1982 dollars, 1929-85 263B-10. Gross national product by industry, 1947-84 264B-ll. Gross national product by industry in 1982 dollars, 1947-84 265B-12. Gross domestic product of nonfmancial corporate business, 1929-
85 266B-l3. Output, costs, and profits of nonfmancial corporate business,
1948-85 267B-14. Personal consumption expenditures, 1929-85 268B-15. Gross and net private domestic investment, 1929-85 270B-16. Gross and net private domestic investment in 1982 dollars, 1929-
85 271B-17. Inventories and final sales of business, 1946-85 272B-18. Inventories and final sales of business in 1982 dollars, 1947-85 273B-l9. Foreign transactions in the national income and product accounts,
1929-85 274B-20. Exports and imports of goods and services in 1982 dollars, 1929-
85 275B-21. Relation of gross national product, net national product, and na-
tional income, 1929-85 276B-22. Relation of national income and personal income, 1929-85 277B-23. National income by type of income, 1929-85 278B-24. Sources of personal income, 1929-85 280B-25. Disposition of personal income, 1929-85 282B-26. Total and per capita disposable personal income and personal con-
sumption expenditures in current and 1982 dollars, 1929-85 283B-27. Gross saving and investment, 1929-85 284B-28. Saving by individuals, 1946-85 285B-29. Number and median income (in 1984 dollars) of families and per-
sons, and poverty status, by race, selected years, 1960-84 286
247
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POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITYPage
B-30. Population by age groups, 1929-85 287B-31. Population and the labor force, 1929-85 288B-32. Civilian employment arid unemployment by sex and age, 1947-85.. 290B-33. Unemployment by duration and reason, 1947-85 291B-34. Civilian labor force participation rate and civilian employment/
population ratio, 1948-85 292B-35. Unemployment rate, 1948-85 293B-36. Civilian labor force participation rate by demographic characteris-
tic, 1954-85 294B-37. Civilian employment/population ratio, 1954-85 295B-38. Civilian unemployment rate by demographic characteristic, 1948-
85 296B-39. Unemployment insurance programs, selected data, 1955-85 297B-40. Employees on nonagricultural payrolls, by major industry, 1939-
85 '. 298B-41. Average weekly hours and hourly earnings in selected private non-
agricultural industries, 1947-85 300B-42. Average weekly earnings in selected private nonagricultural indus-
tries, 1947-85 301B-43. Productivity and related data, business sector, 1947-85 302B-44. Changes in productivity and related data, business sector, 1948-85. 303
PRODUCTION AND BUSINESS ACTIVITY:B-45. Industrial production indexes, major industry divisions, 1939-85.... 304B-46. Industrial production indexes, market groupings, 1947-85 305B-47. Industrial production indexes, selected manufactures, 1947-85 306B-48. Capacity utilization rates, 1948-85 307B-49. New construction activity, 1929-85 308B-50. New housing units started and authorized, 1959-85 310B-51. Business expenditures for new plant and equipment, 1947-86». 311B-52. Sales and inventories in manufacturing and trade, 1948-85 312B-53. Manufacturers' shipments and inventories, 1947-85 313B-54. Manufacturers'new and unfilled orders, 1947-85 314
PRICES:B-55. Consumer price indexes, major expenditure classes, 1946-85.. 315B-56. Consumer price indexes, selected expenditure classes, 1946-85 316B-57. Consumer price indexes, commodities, services, and special
groups, 1940-85 318B-58. Changes in special consumer price indexes, 1958-85 319B-59. Changes in consumer price indexes, commodities and services,
1929-85 320B-60. Producer price indexes by stage of processing, 1947-85 321B-61. Producer price indexes by stage of processing, special groups,
1974-85 323B-62. Producer price indexes for major commodity groups, 1947-85........ 324B-63. Changes in producer price indexes for finished goods, 1955-85 326
MONEY STOCK, CREDIT, AND FINANCE:B-64. Money stock, liquid assets, and debt measures, 1959-85 327B-65. Components of money stock measures and liquid assets, 1959-85... 328
248
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Page
B-66. Aggregate reserves of depository institutions and monetary base,1959-85 330
B-67. Commercial bank loans and investments, 1972-85 331B-68. Bond yields and interest rates, 1929-85 332B-69. Total funds raised in credit markets by nonfinancial sectors, 1976-
85 334B-70. Mortgage debt outstanding by type of property and of financing,
1939-85 336B-71. Mortgage debt outstanding by holder, 1939-85 337B-72. Consumer credit outstanding, 1950-85 338
GOVERNMENT FINANCE:B-73. Federal receipts, outlays, surplus or deficit, and debt, selected
fiscal years, 1929-87 339B-74. Federal receipts, outlays, and debt, fiscal years 1978-87 340B-75. Relation of Federal Government receipts and expenditures in the
national income and product accounts to the budget, fiscal years1985-87 342
B-76. Federal and State and local government receipts and expenditures,national income and product accounts, 1929-85 343
B-77. Federal and State and local government receipts and expenditures,national income and product accounts, by major type, 1929-85... 344
B-78. Federal Government receipts and expenditures, national incomeand product accounts, 1964-87 345
B-79. State and local government receipts and expenditures, nationalincome and product accounts, 1946-85 346
B-80. State and local government revenues and expenditures, selectedfiscal years, 1927-84 347
B-81. Interest-bearing public debt securities by kind of obligation, 1967-85 348
B-82. Maturity distribution and average length of marketable interest-bearing public debt securities held by private investors, 1967-85. 349
B-83. Estimated ownership of public debt securities, 1976-85 350
CORPORATE PROFITS AND FINANCE:B-84. Corporate profits with inventory valuation and capital consumption
adjustments, 1929-85 351B-85. Corporate profits by industry, 1929-85 352B-86. Corporate profits of manufacturing industries, 1929-85 353B-87. Sales, profits, and stockholders' equity, all manufacturing corpora-
tions, 1950-85 354B-88. Relation of profits after taxes to stockholders' equity and to sales,
all manufacturing corporations, 1947-85 355B-89. Sources and uses of funds, nonfarm nonfinancial corporate busi-
ness, 1946-85 356B-90. State and municipal and business securities offered, 1934-85 357B-91. Common stock prices and yields, 1949-85 358B-92. Business formation and business failures, 1940-85 359
AGRICULTURE:B-93. Farm income, 1929-85 360B-94. Farm output and productivity indexes, 1929-85 361B-95. Farm input use, selected inputs, 1929-85 362B-96. Indexes of prices received and prices paid by farmers, 1946-85 363
249
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Page
B-97. U.S. exports and imports of agricultural commodities, 1940-85 364B-98. Balance sheet of the farm sector, 1939-84 365
INTERNATIONAL STATISTICS:B-99. U.S. international transactions, 1946-85 366B-100. U.S. merchandise exports and imports by principal end-use catego-
ry, 1965-85 368B-101. U.S. merchandise exports and imports by area, 1976-85 369B-102. U.S. merchandise exports and imports by commodity groups,
1966-85 370B-103. International investment position of the United States at year-end,
1977-84 371B-104. International reserves, selected years, 1952-85 372B-105. Exchange rates, 1967-85 373B-106. World trade: Exports and imports, 1965, 1970, 1975, and 1981-
85 374B-107. World trade balance and current account balances 1965, 1970,
1975, and 1981-85 375B-108. Industrial production and consumer prices, major industrial coun-
tries, 1960-85 376B-109. Civilian unemployment rate, and hourly compensation, major in-
dustrial countries, 1960-85 377B-110. Growth rates in real gross national product, 1961-85 „ 378
250
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General Notes
Detail in these tables may not add to totals because of rounding.Unless otherwise noted, all dollar figures are in current dollars.Symbols used:
p Preliminary.— Not available (also, not applicable).
Note.—Data for the national income and product accounts series appear-ing in this appendix reflect the comprehensive revision by the Department ofCommerce, Bureau of Economic Analysis. See Survey of Current Business fordetails.
251
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NATIONAL INCOME OR EXPENDITURE
TABLE B-l.—Gross national product, 1929-85
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year or quarter
1929193319391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967 ,196819691970197119721973197419751976 ...197719781979198019811982198319841985"1982:1
I II I IIV
1983- 11!I l lIV
1984: II II l lIV
1985:!||I I II V "
Grossnationalproduct
103.956.091.3
100.4125.5159.0192.7211.4213.4212.4235.2261.6260.4288.3333.4351.6371.6372.5405.9428.2451.0456.8495.8515.3533.8574.6606.9649.8705.1772.0816.4892.7963.9
1,015.51,102.71,212.81,359.31,472.81,598.41,782.81,990.52,249.72,508.22,732.03,052.63,166.03,401.63,774.73,992.53,112.63,159.53,179.43,212.53,268.73,365.13,437.53,535.03,676.53,757.53,812.23,852.53,917.53,960.64,016.94,075.1
Personal consumption expenditures
Total
i
77.345.867.071.080.888.699.5
108.2119.6143.9161.9174.9178.3192,1208.1219.1232.6239.8257.9270.6285.3294.6316.3330.7341.1361.9381.7409.3440.7477.3503.6552.5597.9640.0691.6757.6837.2916.5
1,012.81,129.31,257.21,403.51,566.81,732.61,915.12,050.72,229.32,423.02,581.91,996.32,023.82,065.62,117.02,146.02,210.12,254.92,306.32,358.62,414.42,439.02,480.12,525.02,563.32,606.12,633.3
Dura-ble
goods
9.23.56.77.89.76.96.56.78.0
15.820.422.925.030.829.929.332.732.138.938.239.737.242.843.541.947.051.856.863.568.570.681.086.285.797.6
111.2124.7123.8135.4161.5184.5205.6219.0219.3239.9252.7289.6331.1360.8245.1248.9252.8263.8268.5285.3295.3309.4321.6330.2331.1341.5351.5356.5376.0359.2
Non-durablegoods
37.722.335.137.042.950.858.664.371.982.790.996.694.998.2
109.2114.7117.8119.7124.7130.8137.1141.7148.5153.2157.4163.8169.4179.7191.9208.5216.9235.0252.2270.3283.3305.1339.6380.9416.2452.0490.4541.8613.2681.4740.6771.0817.0872.4912.5758.1762.6776.7786.6792.4811.7826.5837.2856.6873.2876.6883.1895.7910.2914.5929.4
Services
30.420.125.226.228.331.034.337.239.745.450.655.558.463.269.075.182.188.094.3
101.6108.51157125.0134.0141.8151.1160.6172.8185.4200.3216.0236.4259.4284.0310.7341.3373.0411.9461.2515.9582.3656.1734.6831.9934.7
1,027.01,122.71,219.61,308.6
993.11,012.21,036.11,066.51,085.21,113.01,133.11,159.61,180.41,211.11,231.31,255.41,277.81,296.61,315.61,344.6
Gross private domestic investment
Total
16.71.69.5
13.418.310.36.27.7
11.331.535.047.136.555.160.553.554.954.169.772.771.163.680.278.277.187.693.199.6
116.2128.6125.7137.0153.2148.8172.5202.0238.8240.8219.6277.7344.1416.8454.8437.0515.5447.3501.9674.0670.4459.5467.8452.2409.6425.0483.7521.2577.6658.8673.3687.9676.2657.6672.8666.1685.2
Fixed investment
Total
14.93.19.1
11.213.88.56.98.7
12.325.135.542.439.548.350.250.554.555.764.068.069.765.174.475.174.781.587.394.2
106.2114.4115.4129.1143.4145.7164.7191.5219.2225.4225.2261.7322.8388.2441.9445.3491.5471.8508.3607.0661.4483.6472.9461.2469.5467.7489.2524.0552.1566.7604.5619.5637.2639.1657.3665.9683.2
Nonresidential
Total
11.02.56.17.79.76.35.47.4
10.617.323.526.824.927.831.831.935.134.739.044.547.542.446.348.848.352.555.261.473.183.584.491.4
102.3105.2109.6123.0145.9160.6162.9180.0214.2259.0302.8322.8369.2366.7356.3427.9475.7382.0369.2360.7354.9338.0343.0357.3386.8394.1423.4435.9458.1459.6474.2478.5490.6
Struc-tures
5.51.12.22.63.32.21.82.43.37.48.19.59.2
10.011.912.213.613.915.218.218.917.518.019.219.420.520.822.727.430.530.732.937.139.240.944.551.457.056.360.166.781.099.5
113.9138.5143.3126.1147.6170.0150.3145.1140.2137.6127.6121.5124.7130.5135.0147.0151.3157.2166.1169.7170.4173.7
Pro-ducers'
dur-able
equip-ment
5.51.43.95.26.44.13.75.07.39.9
15,317.315.717.819.919.721.520.823.926.328.624.928.329.728.932.134.438.745.853.053.758.565.266.168.778.594.5
103.6106.6119.9147.4178.0203.3208.9230.7223.4230.2280.2305.8231.7224.1220.5217.3210.4221.5232.6256.3259.1276.5284.5300.9293.5304.5308.1316.9
Resi-dential
4.0.6
3.03.54.12.21.41.41.77.8
12.115.614.620.518.418.619.421.125.023.522.222.728.126.326.429.032.132.833.130.931.137.741.240.555.168.673.364.862.381.7
108.6129.2139.1122.5122.3105.1152.0179.1185.6101.7103.6100.5114.7129.7146.2166.7165.4172.6181.0183.7179.1179.4183.1187.4192.5
Changein busi-
nessinven-tories
1.7-1.6
.42.24.51.8
-.6-1.0-1.0
6.4_ 547
-3.16.8
10.23.1
.4-1.6
5.74.61.4
-1.55.83.12.46.15.85.49.9
14.210.37.99.83.17.8
10.519.615.4
-5.616.021.328.613.0
-8.324.0
-24.5-6.467.19.1
-24.1-5.0-9.0
-59.9-42.7-5.5-2.825.592.168.968.339.018.515.5
.22.1
See next page for continuation of table.
252Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-l.—Gross national product, 1929-85—Continued
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939
1940. .194119421943194419451946194719481949
1950195119521953195419551956195719581959
19601961196219631964196519661967 .19681969
197019711972197319741975...19761977 . .19781979
198019811982198319841985 p
1982- 1I II l lIV
1983- 1III I I .IV
1984:1III l lIV
1985:1||I I IIV
Net exports of goods andservices
Netexports
1.1.4
1.2
1.81.5
.2-1.9-1.7-.57.8
11.97.06.5
2.24.53.21.32.63.05.37.33.31.5
5.97.26.98.2
10.99.77.57.45.55.6
8.56.33.2
16.816.331.118.81.94.1
18.8
32.133.926.3
-5.3-59.2-74.4
34.742.114.514.1
28.4-2.6
-19.7-27.4
-37.4-65.3-61.9-72.2
-42.3-70.3-87.8-97.2
Exports
7.12.44.6
5.46.15.04.65.57.4
15.220.317.516.4
14.519.819.218.118.821.125.228.224.425.0
29.931.133.135.740.542.946.649.554.860.4
68.972.481.4
114.1151.5161.3177.7191.6227.5291.2
351.0382.8361.9354.1384.6370.4
373.0378.9359.9335.9
344.6345.0358.0368.8
375.4382.3391.4389.5
379.6369.2363.2369.7
Imports
5.92.13.4
3.74.74.86.57.27.97.38.3
10.69.8
12.315.316.016.816.318.119.920.921.123.5
24.023.926.227.529.633.239.142.149.354.7
60.566.178.297.3
135.2130.3158.9189.7223.4272.5
318.9348.9335.6359.4443.8444.8
338.4336.8345.4321.9
316.2347.5377.6396.2
412.8447.6453.3461.7
421.9439.5451.0466.9
Government purchases of goods andservices
Total
8.98.3
13.6
14.225.059.988.997.183.029.126.432.639.0
38.860.475.882.876.075.379.787.395.497.9
100.6108.4118.2123.8130.0138.6158.6179.7197.7207.3
218.2232.4250.0266.5299.1335.0356.9387.3425.2467.8
530.3588.1641.7675.7736.8814.6
622.1625.7647.1671.8
669.3673.8681.1678.6
696.5735.1747.3768.4
777.2794.8832.5853.7
Federal
Total
1.52.25.2
6.117.052.081.489.474.819.213.617.321.1
19.138.652.757.948.444.946.450.554.554.6
54.458.264.665.766.468.780.492.7
100.1100.0
98.899.8
105.8106.4116.2129.2136.3151.1161.8178.0
208.1242.2272.7284.8312.9353.9
262.9259.3275.3293.2
287.1287.0286.0279.2
285.6314.8318.5332.9
334.4337.8364.8378.6
Nation-al
defense
il2.3
13.849.479.887.573.716.410.011.313.9
14.333.846.249.041.639.040.744.646.346.4
45.347.952.151.550.451.062.073.479.178.9
76.874.177.477.582.689.693.4
100.9108.9121.9
142.7167.5193.8215.7237.0262.0
182.2190.3197.3205.4
209.4214.5215.8222.9
228.3235.8236.2247.5
249.5256.0269.9272.5
Non-de-
fense
19"
3.93.22.61.62.01.12.83.66.07.2
4.74.86.58.96.86.05.75.98.38.2
9.210.212.614.216.017.718.319.321.021.1
22.025.828.428.933.639.642.950.352.956.1
65.474.878.969.276.091.9
80.769.078.087.7
77.872.570.256.2
57.379.082.285.4
84.981.795.0
106.1
Stateandlocal
7.46.18.3
8.18.07.87.57.68.29.9
12.815.318.0
19.821.823.124.827.730.333.336.940.843.3
46.150.253.558.163.569.978.287.097.6
107.2
119.4132.5144.2160.1182.9205.9220.6236.2263.4289.9
322.2345.9369.0390.9423.9460.7
359.2366.4371.8378.7
382.2386.9395.1399.4
410.9420.3428.8435.5
442.8457.1467.7475.2
Finalsales
102.257.690.9
98.3121.0157.2193.4212.3214.4206.0235.7256.9263.4
281.4323.2348.6371.1374.1400.2423.6449.6458.3490.0
512.3531.4568.5601.1644.4695.2757.8806.1884.8954.1
1,012.31,094.91,202.31,339.71,457.41,604.11,766.81,969.22,221.02,495.2
2,740.33,028.63,190.53,408.03,707.63,983.4
3,136.73,164.53,188.43,272.4
3,311.43,370.63,440.33,509.5
3,584.43,688.73,743.93,813.5
3,899.03,945.04,016.74,073.0
Percent changefrom preceding
period
Grossnation-
alprod-uct
-4.27.0
10.025.026.621.29.7
.9-.510.811.2-.5
10.715.75.55.7
.29.05.55.31.38.5
3.93.67.65.67.18.59.55.89.38.0
5.48.6
10.012.18.38.5
11.511.713.011.5
8.911.73.77.4
11.05.8
-.26.22.54.2
7.212.38.9
11.8
17.09.16.04.3
6.94.55.85.9
Finalsales
-5.55.4
8.123.229.923.09.81.0
-3.914.49.02.5
6.814.87.96.5
.87.05.86.11.96.9
4.63.77.05.77.27.99.06.49.87.8
6.18.29.8
11.48.8
10.110.111.512.812.3
9.810.55.36.88.87.4
4.23.63.1
11.0
4.97.38.58.3
8.812.26.17.6
9.34.87.55.7
Source.- Department of Commerce, Bureau of Economic Analysis.
253
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-2.—Gross national product in 1982 dollars. 1929-85
[Billions of 1982 dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year orquarter
1929193319391940194119421943194419451946194719481949 .19501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981 .1982198319841985"1982: 1
III l lIV
1983- 1I II l lIV
1984: II II l lIV
1985:1I II l lIV
Grossnationalproduct
709.6498.5716.6772.9909.4
1,080.31,276.21,380.61,354.81,096.91,066.71,108.71,109.01,203.71,328.21,380.01,435.31,416.21,494.91,525.61,551.11,539.21,629.11,665.31,708.71,799.41,873.31,973.32,087.62,208.32,271.42,365.62,423.32,416.22,484.82,608.52,744.12,729.32,695.02,826.72,958.63,115.23,192.43,187.13,248.83,166.03,277.73,492.03,573.53,170.43,179.93,154.53,159.33,190.63,259.33,303.43,357.23,449.43,492.63,510.43,515.63,547.83,557.43,584.13,605.0
Personal consumptionexpenditures
Total
471.4378.7480.5502.6531.1527.6539.9557.1592.7655.0666.6681.8695.4733.2748.7771.4802.5822.7873.8899.8919.7932.9979.4
1,005.11,025.21,069.01,108.41,170.61,236.41,298.91,337.71,405.91,456.71,492.01,538.81,621.91,689.61,674.01,711.91,803.91,883.81,961.02,004.42,000.42,024.22,050.72,145.92,239.92,312.62,031.22,041.02,051.82,078.72,096.42,137.22,161.82,188.12,210.92,243.02,243.42,262.02,288.62,303.52,329.62,328.7
Durablegoods
40.320.735.740.646.231.328.126.328.747.856.561.767.880.774.773.080.281.596.992.892.486.996.998.093.6
103.0111.8120.8134.6144.4146.2161.6167.8162.5178.3200.4220.3204.9205.6232.3253.9267.4266.5245.9250.8252.7283.6318.6344.7247.7249.1251.8262.0264.9280.8288.5300.0311.0317.7318.0327.6335.0340.3359.3344.3
Non-durablegoods
211.4181.8248.0259.4275.6279.1284.7297.9323.5344.2337.4338.7342.3352.8362.9376.6388.2393.8413.2426.9434.7439.9455.8463.3470.1484.2494.3517.5543.2569.3579.2602.4617.2632.5640.3665.5683.2666.1676.5708.8731.4753.7766.6762.6764.4771.0800.7828.0847.4764.2768.3772.8778.6787.0796.8806.8812.0819.4832.8831.2828.6839.9846.7849.8853.0
Services
219.7176.2196.7202.7209.3217.2227.2232.9240.5262.9272.6281.4285.3299.8311.1321.9334.1347.4363.6380.1392.6406.1426.7443.9461.4481.8502.3532.3558.5585.3612.3641.8671.7697.0720.2756.0786.1803.1829.8862.8898.5939.8971.2991.9
1,009.01,027.01,061.71,093.31,120.51,019.21,023.51,027.21,038.11,044.51,059.71,066.51,076.11,080.51,092.61,094.31,105.81,113.71,116.51,120.41,131.3
Gross private domestic investment
Total
139.222.786.0
111.8138.8
76.750.456.476.5
178.1177.9208.2168.8234.9235.2211.8216.6212.6259.8257.8243.4221.4270.3260.5259.1288.6307.1325.9367.0390.5374.4391.8410.3381.5419.3465.4520.8481.3383.3453.5521.3576.9575.2509.3545.5447.3503.4661 3650.6464.2467.5448.6408.8422.5489.0526.3575.9649.0662.9673.3659.9639.6655.6645.0662.2
Fixed investment
Total
128.433.582.197.4
111.164.749.761.684.9
150.2178.9196.0178.4210.8204.3201.8213.8217.3243.5244.9240.4224.8253.8252.7251.8272.4290.5310.2341.8353.7345.6370.7385.1373.3399.7443.7480.8448.0396.1431.4492.2540.2560.2516.2521.7471.8508.9598.6643.3488.2473.0458.1468.1464.7492.7524.9553.2565.4596.8608.4623.8623.8640.5646.8662.0
Nonresidential
Total
93.025.853.265.076.647.439.452.674.2
105.5121.7127.4114.8124.0131.7130.6140.1137.5151.0160.4161.1143.9153.6159.4158.2170.2176.6194.9227.6250.4245.0254.5269.7264.0258.4277.0317.3317.8281.2290.6324.0362.1389.4379.2395.2366.7360.1430.3471.8387.0369.5358.0352.3337.5346.9363.4392.9398.8426.8437.6457.8457.2470.9473.7485.4
Struc-tures
54.714.325.228.533.420.915.620.427.050.947.550.549.352.856.557.362.364.969.475.575.270.671.976.177.781.381.687.9
101.8108.0105.4108.0112.9111.1107.3109.5117.7115.2102.8104.4108.3119.3130.6136.2148.8143.3129.7148.7165.7151.0144.7139.3
- 138.3129.3125.4128.6135.4138.8148.5151.6156.0163.2165.3165.8168.4
Produc-ers'
durableequip-ment
38.411.528.036.543.226.523.832.147.254.774.276.965.571.275.273.377.772.781.784.985.973.381.783.380.588.995.1
107.0125.8142.4139.6146.5156.8152.9151.0167.5199.6202.7178.4186.2215.7242.8258.8243.0246.4223.4230.5281.6306.1235.9224.9218.7214.1208.2221.4234.7257.5260.0278.3286.0301.9293.9305.6307.9317.0
Residen-tial
35.47.7
28.932.534.417.310.49.0
10.744.757.268.663.686.772.671.273.879.892.484.479.381.0
100.293.393.6
102.2113.9115.3114.2103.2100.6116.2115.4109.3141.3166.6163.4130.2114.9140.8168.1178.0170.8137.0126.5105.1148.7168.3171.5101.2103.4100.1115.8127.2145.8161.6160.4166.6170.0170.8166.0166.7169.6173.1176.7
Change inbusinessinvento-
ries
10.8-10.7
3.914.427.812.0
.7-5.2-8.427.9
-1.012.3
-9.724.230.810.02.8
-4.816.312.93.0
-3.416.57.77.3
16.216.615.725.236.928.821.025.1
8.219.621.840.033.3
-12.822.129.136.815.0
-6.923.9
-24.5-5.562.7
7.3-24.0-5.4-9.4
-59.3-42.2-3.7
1.422.683.666.064.936.115.815.1
-1.8.1
See next page for continuation of table.
254Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-2.—Gross national product in 1982 dollars, 1929-85—Continued
[Billions of 1982 dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year or quarter
1929193319391940194119421943194419451946194719481949195019511952195319541955 .1956 ,195719581959196019611962196319641965196619671968196919701971.1972197319741975197619771978197919801981198219831984 . .1985 '1982:1
III l lIV
1983: 1I II!)IV
1984- 1I II l lIV
1985:1||I I IIV
Net exports of goods andservices
Netexports
4.7-1.4
6.18.23.9
-7.7-23.0-23.8-18.9
27.042.419.218.84.7
14.66.9
-2.72.5
.04.37.0
-10.3-18.2-4.0-2.7-75-1.9
5.9-27
-13.7-16.9-29.7-34.9-30.0-39.8-49.4-31.5
.818.9
-11.0-35.5-26.8
3.657.049.426.3
-19.4-85.0
-105.140.441.711.711.722.5
-15.0-36.2-48.9-60.6-90.4-88.7
-100.2-71.8
-101.1-119.8-127.6
Exports
42.122.736.240.042.029.125.127.335.269.082.366.265.059.272.070.166.970.076.987.994.982.483.798.4
100.71069114.7128.81320138.4143,6155.7165.0178.3179.2195.2242.3269.1259.7274.4281.6312.6356.8388.9392.7361.9349.4370.9360.2374.1378.5359.5336.0342.8342.4353.1359.1362.7366.6376.9377.3368.7358.2353.5360.4
Imports
37.424.230.131.738.236.948.051.154.142.039.947.146.254.657.463.369.767.576.983.687.992.8
101.9102.4103.31144116.6122.81347152.1160.5185.3199.9208.3218.9244.6273.8268.4240.8285.4317.1339.4353.2332.0343.4335.6368.8455.9465.3333.7336.8347.8324.3320.3357.4389.3408.0423.3457.0465.6477.5440.5459.3473.3488.0
Government purchases of goods andservices
Total
94.298.5
144.1150.2235.6483.7708.9790.8704.5236.9179.8199.5226.0230.8329.7389.9419.0378.4361.3363.7381.1395.3397.7403.7427.14494459.8470.84870532.6576.2597.6591.2572.6566.5570.7565.3573.2580.9580.3589.1604.1609.1620.5629.7641.7647.8675.9715.4634.6629.7642.5660.1649.1648.2651.5642.2650.1677.1682.4693.9691.4699.4729.2741.7
Federal
Total
18.327.053.863.6
153.0407.1638.1722.5634.0159.391.9
106.1119.5116.7214.4272.7295.9245.0217.9215.4224.1224.9221.5220.6232.92493247.8244.22444273.8304.4309.6295.6268.3250.6246.0230.0226.4226.3224.2231.8233.7236.2246.9259.6272.7275.5292.5321.3267.0260.5273.8289.5279.2277.6277.4267.9271.4294.8296.7307.3304.3305.9331.1343.7
Nation-al
^de-fense
185.3171.0163.3161.1157.5159.2160.7164.3171.2180.3193.8207.3220.3236.0185.4191.6197.0201.4203.8206.9206.5211.8214.1219.6219.6227.9226.7231.5243.3242.6
Non-de-
fense
60.759.163.165.266.872.773.071.975.779.378.968.372.385.281.668.976.988.275.470.670.956.157.375.277.179.577.674.387.9
101.1
Stateandlocal
75.971.590.386.682.676.770.868.370.577.687.993.4
106.5114.2115.4117.3123.1133.4143.4148.3157.0170.4176.2183.1194.2200.1212.0226.6242.5258.8271.8288.0295.6304.3315.9324.7335.3346.8354.6356.0357.2370.4373.0373.6370.1369.0372.2383.3394.2367.7369.2368.6370.6369.9370.6374.1374.3378.6382.4385.7386.6387.1393.6398.1398.0
Finalsales
698.7509.2712.7758.5881.6
1,068.31,275.51,385.71,363.31,069.01,067.71,096.41,118.71,179.51,297.41,370.01,432.51,421.01,478.61,512.71,548.11,542.61,612.61,657.51,701.41,783.31,856.71,957.62,062.42,171.52,242.62,344.62,398.12,407.92,465.22,586.82,704.12,696.02,707.82,804.62,929.53,078.43,177.43,194.03,225.03,190.53,283.13,429.33,566.23,194.43,185.33,164.03,218.63,232.83,263.03,302.13,334.63,365.73,426.63,445.53,479.53,532.03,542.33,585.83,604.8
Percent changefrom preceding
period
Grossnation-
alprod-uct
""-'2l7.97.8
17.718.818.18.2
-1.9-19.0-2.8
3.9.0
8.510.33.94.0
-1.35.62.11.7
-.85.82.22.65.34.15.35.85.82.94.12.4-.32.85.05.2
-.5-1.3
4.94.75.32.5-.21.9
-2.53.56.52.3
-5.91.2
-3.2.6
4.08.95.56.7
11.45.12.1
.63.71.13.02.4
Finalsales
""-Ti6.36.4
16.221.219.48.6
-1.6-21.6
-.12.72.05.4
10.05.64.6-.84.12.32.3
-.44.52.82.64.84.15.45.45.33.34.52.3
.42.44.94.5-.3
.43.64.55.13.2.5
1.0-1.1
2.94.54.0
-1.7-1.1-2.6
7.11.83.84.94.03.87.42.24.06.21.25.02.1
Source: Department of Commerce, Bureau of Economic Analysis.
255
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-3.—Implicit price deflators for gross national product, 1929-85
[Index numbers, 1982 = 100, except as noted; quarterly data seasonally adjusted]
Year or quarter
192919331939 . . .1940194119421943 . .194419451946194719481949195019511952.. .195319541955 .1956195719581959196019611962196319641965196619671968196919701971197219731974 . . .19751976197719781979198019811982.. .198319841985 »1982:1
III I IIV
1983- !11I l lIV
1984: 1I IHiIV
1985: II II l lIV
Grossnationalproduct
14.611.212.713.013.814.715.115.315.719.422.123.623.523.925.125.525.926.327.228.129.129.730.430.931.231.932.432.933.835.035.937.739.842.044.446.549.554.059.363.167.372.278.685.794.0
100.0103.8108.1111.7
98.299.4
100.8101.7102.4103.2104.1105.3106.6107.6108.6109.6110.4111.3112.1113.0
Personal consumptionexpenditures
Total
16.412.113.914.115.216.818.419.420.222.024.325.725.626.227.828.429.029.129.530.131.031.632.332.933.333.934.435.035.636.737.639.341.042.944.946.749.654.859.262.666.771.678.286.694.6
100.0103.9108.2111.698.399.2
100.7101.8102.4103.4104.3105.4106.7107.6108.7109.6110.3111.3111.9113.1
Durablegoods
22.916.818.719.220.922.023.325.427.733.036.137.136.938.140.040.140.839.440.141.242.942.844.244.444.845.746.347.047.147.548.350.151.452.754.755.556.660.465.969.572.776.982.189.295.7
100.0102.1103.9104.7
98.999.9
100.4100.7101.3101.6102.4103.1103.4103.9104.1104.2104.9104.8104.6104.3
Non-durablegoods
17.812.214.214.315.518.220.621.622.224.026.928.527.727.830.130.530.430.430.230.631.532.232.633.133.533.834.334.735.336.637.539.040.942.744.245.849.757.261.563.867.171.980.089.496.9
100.0102.0105.4107.7
99.299.3
100.5101.0100.7101.9102.4103.1104.5104.8105.5106.6106.7107.5107.6109.0
Services
13.811.412.812.913.514.315.116.016.517.318.619.720.521.122.223.324.625.325.926.727.628.529.330.230.731.432.032.533.234.235.336.838.640.743.145.147.451.355.659.864.869.875.683.992.6
100.0105.7111.5116.8
97.498.9
100.9102.7103.9105.0106.2107.8109.2110.8112.5113.5114.7116.1117.4118.9
Gross private domestic investment l
Fixed investment
Total
11.69.4
11.111.512.413.213.814.214.516.719.821.722.222.924.625.025.525.626.327.829.028.929.329.729.729.930.130.431.132.433.434.837.239.041.243.245.650.356.960.765.671.978.986.394.2
100.099.9
101.4102.899.1
100.0100.7100.3100.699.399.899.8
100.2101.3101.8102.1102.4102.6103.0103.2
Nonresidential
Total
11.89.8
11.511.912.713.313.814.014.316.419.321.021.722.424.224.425.125.225.827.729.529.530.230.630.530.931.331.532.133.334.435.937.939.942.444.446.050.557.961.966.171.577.885,193.4
100.098.999.4
100.898.799.9
100.8100.7100.198.998.398.498.899.299.6
100.1100.5100.7101.0101.1
Struc-tures
10.07.68.89.09.7
10.711.411.612.314.517.118.918.618.821.121.321.821.421.824.125.224.825.025.225.025.225.525.926.928.229.130.432.935.238.140.643.749.554.757.661.667.976.283.693.1
100.097.299.3
102.699.5
100.3100.7
99.598.796.996.996.497.298.999.8
100.8101.8102.7102.8103.1
Pro-ducers'
dur-able
equip-ment
14.312.513.914.214.915.315.415.615.418.220.722.524.025.026.426.927.728.629.331.033.334.034.735.635.936.136.236.236.437.238.439.941.543.245.546.847.351.159.764.468.373.378.686.093.7
100.099.999.599.998.299.7
100.8101.5101.1100.099.199.599.699.399.599.799.899.6
100.1100.0
Residen-tial
11.28.1
10.510.911.912.813.814.915.817.521.122.823.023.725.426.126.326.427.027.928.028.028.028.228.228.328.228,529.029.930.932.535.637.039.041.244.849.854.258.064.672.681.489.496.6
100.0102.2106.4108.2100.5100.2100.499.1
102.0100.3103.2103.1103.6106.5107.6107.9107.7107.9108.2109.0
See next page for continuation of table.
256
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-3.—Implicit price deflators for gross national product, 1929-85—Continued
[Index numbers, 1982 = 100, except as noted; quarterly data seasonally adjusted]
Year or quarter
1929193319391940 . . . .194119421943194419451946194719481949195019511952195319541955195619571958195919601961 . . .1962196319641965196619671968196919701971 . ..197219731974197519761977197819791980 . . . .19811982198319841985"1982- 1
I I ,I l lIV
1983:1III I IIV
1984- 1III l lIV
1985:1||I I II V "
Exports andimports of goods
and services 1
Exports
16.810.712.713.614.617.218.520.221.122.024.626.525.224.427.427.427.026.927.528.629.729.629.930.430.931.031.131.432.533.734.535.236.638.740.441.747.156.362.164.868.072.881.690.297.5
100.0101.4103.7102.899.7
100.1100.1100.0100.5100.8101.5102.7103.5104.3103.8103.2102.9103.1102.7102.6
Imports
15.98.6
11.311.612.313.113.614.114.617.420.922.421.222.526.725.324.124.123.523.823.822.723.123.423.122.923.624.124.725.726.226.627.429.030.232.035.550.454.155.759.865.877.196.0
101.6100.0
97.597.495.6
101.4100.099.399.398.797.297.097.197.598.097.396.795.895.795.395.7
Government purchases of goods and services
Total
9.48.49.49.5
10.612.412.512.311.812.314.716.317.316.818.319.419.820.120.821.922.924.124.624.925.426.326.927.628.529.831.233.135.138.141.043.847.152.257.761.565.870.476.885.593.4
100.0104.3109.0113998.099.4
100.7101.8103.1104.0104.5105.7107.1108.6109.5110.7112.4113.6114.2115.1
Federal
Total
8.18.09.79.7
11.112.812.812.411.812.014.816.317.616.318.019.319.619.720.621.522.524.224.624.725.025.926.527.228.129.430.532.333.836.839.843.046.251.357.160.865.269.275.484.393.3
100.0103.4107.0110.298.599.6
100.5101.3102.8103.4103.1104.2105.2106.8107.3108.3109.9110.4110.2110.1
Nationaldefense
41.845.350.655.659.363.467.874.283.492.9
100.0104.0107.6111.098.399.4
100.2102.0102.7103.7104.5105.3106.6107.4107.6108.6110.1110.6110.9112.3
Non-defense
46.848.953.360.664.369.172.478.086.494.3
100.0101.3105.1107.999.0
100.2101.599.5
103.1102.699.0
100.199.9
105.0106.7107.5109.4110.0108.1105.0
Stateandlocal
9.78.69.29.39.7
10.210.611.211.612.814.516.316.917.318.919.720.220.721.222.423.524.024.625.225.926.727.428.028.830.232.033.936.339.241.944.447.852.858.162.066.171.177.786.293.4
100.0105.0110.6116.997.799.2
100.9102.2103.3104.4105.6106.7108.5109.9111.2112.7114.4116.1117.5119.4
Finalsales
14.611.312.813.013.714.715.215.315.719.322.123.423.523.924.925.425.926.327.128.029.029.730.430.931.231.932.432.933.734.935.937.739.842.044.446.549.554.159.263.067.272.178.585.893.9
100.0103.8108.1111.798.299.3
100.8101.7102.4103.3104.2105.2106.5107.6108.7109.6110.4111.4112.0113.0
Percent changefrom preceding
period2
GNPimplicit
pricedeflator
-2.2-.82.06.26.62.61.42.9
22.913.97.0
-.52.04.81.51.61.63.23.43.62.12.41.61.02.21.61.52.73.62.65.05.65.55.74.76.59.19.86.46.77.38.99.09.76.43.84.13.36.45.05.83.62.83.23.54.75.03.83.83.73.03.32.93.3
Finalsales
implicitprice
deflator
-2.5-.91.56.07.23.01.12.6
22.514.66.1
.51.34.42.11.81.62.83.43.72.32.41.61.02.21.61.52.43.62.95.05.65.55.74.76.59.39.46.46.77.38.99.39.46.54.04.23.35.94.66.23.62.83.63.53.95.04.24.23.43.03.72.2'3.6
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.
257
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-4.—Fixed-weighted price indexes for gross national product, 1982 weights, 1959-85
[Index numbers, 1982=100, except as noted; quarterly data seasonally adjusted]
Year or quarter
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985 P
1982: IIIIll . . .IV
1983- 1I II l lIV
1984: I||I l lIV
1985:1||I I IIV
Grossnationalproduct
37.6
38.138.438.739.1396
40.141.142.143.745.6
47.248.850.353.157.2
61.865.168.472.778.8
86.194.1
100.0104.0108.5
112.4
98.299.4
100.7101.7
102.5103.5104.5105.6
106.9108.1109.1110.0
110.9111.9112.7113.9
Personalcon-
sumptionexpendi-
tures
35.2
35.736.136.436.8372
37.738.539.541.042.8
44.746.648.351.055.8
60.163.567.572.278.6
86.894.6
100.0104.0108.5
112.2
98.399.1
100.7101.8
102.4103.5104.5105.6
106.9107.9109.0110.0
110.7111.8112.5113.8
Gross private domesticinvestment1
Fixed investment
Total
58.0
58.158.058.058.0582
58.559.360.261.463.2
61.560.659.861.864.4
69.071.472.674.580.3
86.994.5
100.0100.3102.0
103.9
99.2100.0100.6100.2
100.699.7
100.4100.4
100.6101.7102.5103.0
103.3103.6104.1104.6
Nonresi-dential
65.9
66.166.066.166.2664
66.767.468.469.571.0
68.466.665.066.668.5
73.175.274.975.080.1
86.193.9
100.099.7
100.7
102.7
98.8100.0100.7100.5
100.299.599.699.5
99.7100.4101.1101.6
102.0102.4102.9103.3
Residen-tial
30.2
30.330.229.929.5296
30.030.831.633.136.0
37.439.541.645.150.1
54.658.464.872.581.2
89.496.6
100.0102.3106.4
108.2
100.5100.2100.499.1
102.0100.4103.2103.3
103.8106.4107.5107.8
107.7107.9108.2108.9
Exports andimports of goods
and services1
Exports
32.8
33.534.034.134.4348
35.937.138.239.340.9
43.345.346.550.859.8
65.467.470.374.582.9
90.597.7
100.0101.6104.6
104.4
99.7100.1100.1100.0
100.6101.0101.8103.2
104.0105.1104.8104.4
104.4104.6104.2104.3
Imports
27.0
27.327.026.727.1111
28.129.129.530.131.2
33.435.637.842.454.5
59.761.366.171.380.9
96.3101.5100.097.797.6
95.8
101.4100.099.399.3
98.797.497.597.5
97.798.197.697.1
95.995.995.595.9
Government purchases ofgoods and services
Total
25.8
26.427.027.828.5293
30.031.332.734.536.6
39.642.345.248.853.5
58.662.266.070.977.3
86.394.1
100.0104.7109.6
114.5
98.199.4
100.5102.0
103.1104.2105.2106.3
108.0109.3109.9111.0
112.7113.8114.8116.6
Federal
Total
26.9
27.327.828.429.3301
30.832.032.834.536.4
39.542.446.050.154.8
59.462.465.870.676.8
86.494.9
100.0104.2107.9
110.9
98.799.6
100.0101.7
102.7103.8104.5105.6
107.2108.1107.8108.4
109.9110.1110.6112.3
Nationaldefense
44.347.451.4
56.559.763.568.675.1
84.793.8
100.0103.8107.6
111,3
98.599.6
100.1101.8
102.4103.7104.1105.1
106.7107.8107.5108.3
110.2110.5111.1113.1
Non-defense
50.556.963.3
66.669.071.575.581.0
90.697.4
100.0105.0108.6
109.9
99,299.799.7
101.4
103.3104.1105.7106.9
108.3108.8108.7108.5
109.1109.2109.1110.2
Stateandlocal
249
25.726.427.327.928.5
29.330.632.534.436.7
39.642.244.647.852.6
57.962.066.271.277.7
86.293.5
100.0105.1110.8
117.3
97.799.2
100.9102.2
103.3104.4105.7106.8
108.6110.1111.4112.9
114.7116.5117.9119.9
Percentchange
frompreced-
ing,period,gross
nationalproductfixed-
weight-ed priceindex2
1.3.7.8
1.01.2
1.42.52.63.74.4
3.63.52.95.57.8
8.05.35.16.28.5
9.39.36.24.04.3
3.6
5.74.75.54.0
3.23.84.04.3
5.14.33.73.5
3.5-3.62.74.5
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.
258
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 price
measures, 1933-85
[Percent change from preceding period; quarterly data at seasonally adjusted annual rates]
Year or quarter
19331939
1940194119421943194419451946 .. . . . .194719481949
1950 .195119521953195419551956195719581959
I960196119621963.. . . . .196419651966196719681969
1970197119721973197419751976. . .197719781979
198019811982198319841985 p
1982- 1I II l lIV
1983- 1IIIllIV
1984- 1III l lIV
1985:1||I I IIV P
Gross national product
Currentdollars
-427.0
10.025.026.621.29.7
.9-.510.811.2-.5
10.715.75.55.7
.29.05.55.31.38.5
3.93.67.65.67.18.59.55.89.38.0
5.48.6
10.012.18.38.5
11.511.713.011.5
8.911.73.77.4
11.05.8
-.26.22.54.2
7.212.38.9
11.8
17.09.16.04.3
6.94.55.85.9
Con-stant
(1982)dollars
217.9
7.817.718.818.18.2
-1.9-19.0-2.8
3.9.0
8.510.33.94.0
-1.35.62.11.7
85.8
2.22.65.34.15.35.85.82.94.12.4
-.32.85.05.2-.5
-1.34.94.75.32.5
_ 2L9
-2.53.56.52.3
-5.91.2
-3.2.6
4.08.95.56.7
11.45.12.1
.6
3.71.13.02.4
Implicitprice
deflator
-22-.8
2.06.26.62.61.42.9
22.913.97.0
_ 5
2.04.81.51.61.63.23.43.62.12.4
1.61.02.21.61.52.73.62.65.05.6
5.55.74.76.59.19.86.46.77.38.9
9.09.76.43.84.13.3
6.45.05.83.6
2.83.23.54.7
5.03.83.83.7
3.03.32.93.3
Chainpriceindex
1.52.81.31.41.51.83.12.94.35.1
5.35.24.35.8
13.99.95.86.56.98.0
9.19.56.44.04.23.5
5.46.45.73.8
3.22.84.72.9
4.86.13.83.9
3.53.62.53.9
Fixed-weight-ed price
index(1982
weights)
1.3.7.8
1.01.21.42.52.63.74.4
3.63.52.95.57.88.05.35.16.28.5
9.39.36.24.04.33.6
5.74.75.54.0
3.23.84.04.3
5.14.33.73.5
3.53.62.74.5
Personal consumption expenditures
Currentdollars
-574.6
6.013.89.7
12.28.8
10.520.412.58.01.9
7.78.35.36.23.17.54.95.43.37.4
4.63.16.15.57.27.78.35.59.78.2
7.08.19.5
10.59.5
10.511.511.311.611.6
10.610.57.18.78.76.6
7.65.68.5
10.3
5.612.58.49.4
9.49.84.16.9
7.46.26.84.2
Con-stant
(1982)dollars
-165.1
4.65.7
72.33.26.4
10.51.82.32.0
5.42.13.04.02.56.23.02.21.45.0
2.62.04.33.75.65.65.13.05.13.6
2.43.15.44.2-.92.35.44.44.12.2
-.21.21.34.64.43.2
2.21.92.15.3
3.48.04.75.0
4.25.9
.13.4
4.82.64.6
-.2
Implicitprice
deflator
-42-.5
1.37.7
10.49.65.43.98.9
10.65.6-.1
2.26.12.22.1
.61.31.93.21.82.2
1.91.21.81.51.71.73.12.54.54.3
4.64.74.06.2
10.58.05.76.57.39.2
10.79.25.73.94.13.1
5.53.76.24.4
2.44.03.54.3
5.03.44.23.4
2.63.72.24.4
Chainpriceindex
1.61.11.11.41.21.52.72.54.04.4
4.74.33.66.0
10.38.05.76.47.29.2
10.99.25.74.04.23.4
5.23.66.34.8
2.24.23.74.4
5.13.74.13.6
2.73.72.44.7
Fixed-weight-ed price
index(1982
weights)
1.5.9.9
1.11.21.22.22.53.84.3
4.64.23.55.79.47.75.66.37.08.8
10.59.05.64.04.33.4
5.23.56.34.8
2.34.23.84.4
5.23.84.23.6
2.73.82.64.7
Source-. Department of Commerce, Bureau of Economic Analysis.
259
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-6.—Gross national product by major type of product, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
198019811982198319841985 "
1982:1IIIllIV
1983:1IIIllIV
1984:1IIIllIV
1985:1IIIllIV ".
Grossnationalproduct
103.956.091.3
100.4125.5159.0192.7211.4213.4212.4235.2261.6260.4
288.3333.4351.6371.6372.5405.9428.245-1.0456.8495.8
515.3533.8574.6606.9649.8705.1772.0816.4892.7963.9
1,015.51,102.71,212.81,359.31,472.81,598.41,782.81,990.52,249.72,508.2
2,732.03,052.63,166.03,401.63,774.73,992.5
3,112.63,159.53,179.43,212.5
3,268.73,365.13,437.53,535.0
3,676.53,757.53,812.23,852.5
3,917.53,960.64,016.94,075.1
Finalsales
102.257.690.9
98.3121.0157.2193.4212.3214.4206.0235.7256.9263.4
281.4323.2348.6371.1374.1400.2423.6449.6458.3490.0
512.3531.4568.5601.1644.4695.2757.8806.1884.8954.1
1,012.31,094.91,202.31,339.71,457.41,604.11,766.81,969.22,221.02,495.2
2,740.33,028.63,190.53,408.03,707.63,983.4
3,136.73,164.53,188.43,272.4
3,311.43,370.63,440.33,509.5
3,584.43,688.73,743.93,813.5
3,899.03,945.04,016.74,073.0
Inven-tory
change
1.7-1.6
.4
2.24.51.8-.6-1.0-1.06.4_ 54'. 7
-3.1
6.810.23.1.4
-1.65.74.61.4
-1.55.8
3.12.46.15.85.49.914.210.37.99.8
3.17.810.519.615.4-5.616.021.328.613.0
-8.324.0
-24.5-6.467.19.1
-24.1-5.0-9.0-59.9
-42.7-5.5-2.825.5
92.168.968.339.0
18.515.5
.22.1
Goods
Total
Total
56.127.049.0
56.072.593.7120.4132.3128.9125.3139.8154.4147.7
162.4189.9195.5204.6198.0216.3225.4234.7230.5250.8
257.2260.4281.5293.2313.5342.9380.1395.1427.4456.6
467.8493.0537.4616.4663.1714.7798.9882.0991.4
1,099.1
1,174.91,322.91,319.11,394.71,585.81,644.2
1,310.71,329.91,326.21,309.8
1,328.41,385.01,399.91,465.3
1,558.11,585.41,595.81,604.0
1,628.41,636.01,650.81,661.8
Finalsales
54.428.648.6
53.868.091.9121.0133.3129.9118.9140.3149.7150.8
155.6179.6192.4204.2199.6210.6220.7233.3232.0245.1
254.1258.0275.4287.4308.1333.0365.9384.9419.5446.8
464.7485.2526.9596.8647.7720.3782.9860.7962.8
1,086.1
1,183.21,298.91,343.71,401.11,518.81,635.2
1,334.81,335.01,335.21,369.7
1,371.11,390.51,402.71,439.8
1,466.01,516.51,527.51,565.0
1,609.81,620.51,650.61,659.7
Inven-tory
change
1.7-1.6
.4
2.24.51.8-.6-1.0-1.06.4-.54.7
-3.1
6.810.23.1.4
-1.65.74.61.4
-1.55.8
3.12.46.15.85.49.914.210.37.99.8
3.17.810.519.615.4-5.616.021.328.613.0
-8.324.0
-24.5-6.467.19.1
-24.1-5.0-9.0-59.9
-42.7-5.5-2.825.5
92.168.968.339.0
18.515.5
.22.1
Durable goods
Finalsales
16.15.412.4
15.423.834.554.258.550.131.844.448.050.0
56.266.472.678.074.181.786.291.784.891.1
93.893.1103.4110.0119.6132.4147.9154.5169.1180.1
182.1189.4209.7241.9257.2288.2323.6369.4416.9473.1
499.4541.1542.9573.2642.5704.6
537.7539.5542.6551.8
542.4566.3576.4607.4
618.5637.6641.4672.6
689.4704.0721.2703.7
Inven-tory
change
1.4-.5
.3
1.23.11.0.0
-.6-1.35.31.41.0
-1.8
3.66.11.21.5
-2.53.42.1.5
-2.83.1
1.6-.13.42.74.06.710.25.54.76.4
_ }2'.87.215.011.2-7.010.39.7
20.110.3
-2.96.8
-16.8-.937.07.9
-14.6-4.1-5.7-42.7
-28.9-.912.913.5
43.236.139.429.3
16.91.8
-6.419.1
Nondurable goods
Finalsales
38.323.236.2
38.444.257.466.874.879.887.195.9101.7100.9
99.4113.2119.8126.2125.5128.9134.5141.6147.2154.0
160.3164.8172.0177.4188.5200.6218.1230.4250.4266.7
282.6295.8317.2354.9390.4432.2459.3491.3545.9613.0
683.8757.8800.8827.9876.2930.6
797.1795.5792.7817.9
828.7824.2826.3832.4
847.4878.9886.1892.5
920.5916.5929.4956.0
Inven-tory
change
0.3-1.1
.1
1.01.4.7
-.6_ 3
'.21.1
-1.93.7
-1.3
3.24.21.9
-1.1.92.32.5.91.32.6
1.42.52.73.11.43.24.04.83.23.4
3.24.93.34.64.31.35.7
11.68.62.7
-5.417.2-7.7-5.530.11.2
-9.5-.9-3.3-17.2
-13.9-4.7-15.7
12.1
48.932.828.99.7
1.613.76.6
-17.0
Services
35.925.934.5
35.840.950.963.272.477.370.572.778.083.0
89.0104.4115.2123.4128.5138.5148.9161.6170.9183.5
197.4210.9226.4242.2261.1280.5307.2334.9368.0402.3
441.1484.9533.2586.6650.6725.2803.5895.9
1,003.01,121.9
1,265.01,415.41,547.51,678.01,806.61,928.8
1,499.11,530.31,561.61,598.9
1,632.21,662.51,693.31,724.1
1,757.91,789.21,823.81,855.6
1,887.61,908.21,939.91,979.4
Struc-tures
11.93.17.8
8.612.114.49.26.67.216.622.829.229.6
36.939.140.943.646.051.153.954.855.561.5
60.762.566.771.575.281.784.686.497.2105.1
106.5124.8142.1156.3159.1158.5180.4212.6255.3287.1
292.0314.4299.4328.9382.2419.5
302.8299.3291.6303.9
308.0317.6344.3345.6
360.5383.0392.6392.9
401.5416.3426.2433.9
Autooutput
7.28.811.9
15.413.312.016.114.721.216.919.414.519.4
21.317.822.425.125.931.130.227.835.034.7
28.538.941.446.038.840.355.264.368.366.9
60.169.466.588.9
103.4113.6
58.768.474.464.5
79.479.696.0100.5
111.895.0100.5106.3
119.4107.7117.5109.9
Source: Department of Commerce, Bureau of Economic Analysis.
260
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-7.—Gross national product by major type of product in 1982 dollars, 1929-85
[Billions of 1982 dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
198019811982198319841985"
1982:1I II l lIV
1983:1I II l lIV
1984:1I II l lIV
1985:1I II l lIV ".
.
Grossnationalproduct
709.6498.5716.6
772.9909.4
1,080.31,276.21,380.61,354.81,096.91,066.71,108.71,109.0
1,203.71,328.21,380.01,435.31,416.21,494.91,525.61,551.11,539.21,629.1
1,665.31,708.71,799.41,873.31,973.32,087.62,208.32,271.42,365.62,423.3
2,416.22,484.82,608.52,744.12,729.32,695.02,826.72,958.63,115.23,192.4
3,187.13,248.83,166.03,277.73,492.03,573.5
3,170.43,179.93,154.53,159.3
3,190.63,259.33,303.43,357.2
3,449.43,492.63,510.43,515.6
3,547.83,557.43,584.13,605.0
Finalsales
698.7509.2712.7
758.5881.6
1,068.31,275.51,385.71,363.31,069.01,067.71,096.41,118.7
1,179.51,297.41,370.01,432.51,421.01,478.61,512.71,548.11,542.61,612.6
1,657.51,701.41,783.31,856.71,957.62,062.42,171.52,242.62,344.62,398.1
2,407.92,465.22,586.82,704.12,696.02,707.82,804.62,929.53,078.43,177.4
3,194.03,225.03,190.53,283.13,429.33,566.2
3,194.43,185.33,164.03,218.6
3,232.83,263.03,302.13,334.6
3,365.73,426.63,445.53,479.5
3,532.03,542.33,585.83,604.8
Inven-tory
change
10.8-10.7
3.9
14.427.812.0
.7-5.2-8.427.9
-1.012.3
-9.7
24.230.810.02.8
-4.816.312.93.0
-3.416.5
7.77.3
16.216.615.725.236.928.821.025.1
8.219.621.840.033.3
-12.822.129.136.815.0
-6.923.9
-24.5-5.562.7
7.3
-24.0-5.4-9.4
-59.3
-42.2-3.7
1.422.6
83.666.064.936.1
15.815.1
-1.8.1
Goods
Total
Total
308.1210.0331.7
370.3431.9504.1608.6664.6639.1521.0517.1531.7517.9
561.4623.0641.3676.6643.5683.9697.1699.3674.2716.6
726.8730.2773.5797.5845.2904.0974.7993.1
1,024.81,048.5
1,030.01,037.61,093.81,175.01,159.21,125.01,194.71,256.21,329.11,354.6
1,344.21,386.01,319.11,364.41,506.41,537.0
1,327.71,335.01,316.01,297.9
1,314.61,358.81,370.11,414.3
1,489.01,511.61,514.41,510.5
1,530.31,531.51,541.01,545.0
Finalsales
297.3220.7327.8
355.9404.2492.1607.9669.8647.5493.1518.1519.4527.6
537.2592.2631.3673.8648.2667.6684.1696.3677.6700.1
719.1723.0757.3780.8829.5878.8937.8964.3
1,003.71,023.3
1,021.71,017.91,072.11,135.01,125.91,137.81,172.51,227.11,292.41,339.6
1,351.11,362.21,343.71,369.91,443.71,529.6
1,351.71,340.51,325.41,357.1
1,356.81,362.51,368.71,391.6
1,405.41,445.51,449.51,474.4
1,514.61,516.31,542.71,544.9
Inven-tory
change
10.8-10.7
3.9
14.427.812.0
.7-5.2-8.427.9
-1.012.3
-9.7
24.230.810.02.8
-4.816.312.93.0
-3.416.5
7.77.3
16.216.615.725.236.928.821.025.1
8.219.621.840.033.3
-12.822.129.136.815.0
-6.923.9
-24.5-5.562.7
7.3
-24.0-5.4-9.4
-59.3
-42.2-3.7
1.422.6
83.666.064.936.1
15.815.1
-1.8.1
Durable goods
Finalsales
85.834.974.8
91.9122.9163.3254.4292.4263.1129.6164.7166.5166.8
180.0208.8229.8245.4230.6245.2248.3251.3229.1236.8
242.2239.2260.2273.4295.4322.2354.2363.6378.5389.7
381.7375.5409.4474.9476.0471.1490.9534.0572.5604.6
584.0578.5542.9562.9619.9672.0
548.5541.6537.7543.8
533.5558.6567.2592.2
600.5616.6617.6644.8
657.2672.6686.4672.0
Inven-tory
change
3.5-2.1
.7
3.48.23.5
.7-1.8-3.710.8
1.41.6
-2.9
5.59.01.72.3
-3.74.52.9
.9-3.4
8.2
4.0-.18.47.1
11.217.426.314.411.815.2
-.57.1
15.430.820.0
-11.415.914.227.513.3
-3.26.9
-16.8-1.135.5
7.2
-14.8-4.1-5.9
-42.4
-28.4-1.012.113.0
41.435.037.927.9
15.81.6
-6.117.4
Nondurable goods
Finalsales
211.5185.7253.1
264.0281.2328.8353.5377.4384.4363.5353.4353.0360.8
357.1383.4401.5428.4417.7422.3435.8445.0448.6463.4
476.9483.7497.1507.4534.1556.5583.6600.7625.3633.6
640.1642.4662.7660.1649.9666.7681.7693.1719.9735.1
767.1783.7800.8807.1823.9857.6
803.2798.8787.7813.4
823.3803.9801.5799.4
804.9829.0832.0829.6
857.3843.8856.3872.9
Inven-tory
change
1.6-2.5
2.1
4.26.05.2
.7-1.2-1.5
.8-3.6
8.3-3.8
11.411.95.3
-2.22.55.85.61.53.68.3
3.77.37.79.54.57.8
10.614.49.39.9
8.812.56.49.2
13.3-1.4
6.314.99.31.7
-3.716.9
-7.7-4.427.1
.2
-9.2-1.3-3.6
-16.9
-13.8-2.7
-10.79.7
42.231.027.0
8.2
-.113.54.4
-17.2
Services
290.0252.1306.4
318.1367.1460.4598.9665.0662.3472.0431.0438.1450.1
470.4537.7567.3577.6579.5601.0619.7645.4654.7681.5
709.9743.0777.0811.5852.8891.6942.7990.6
1,032.01,066.9
1,092.41,126.11,169.41,218.71,256.41,286.41,324.41,368.71,426.91,478.6
1,511.11,533.41,547.51,584.41,615.41,642.1
1,539.91,546.21,548.31,555.5
1,569.11,579.51,590.91,598.0
1,603.21,609.61,618.71,630.1
1,636.01,633.91,643.41,655.4
Struc-tures
111.436.578.5
84.5110.3115.868.750.953.5
104.0118.6138.9141.0
171.9167.5171.4181.2193.2210.0208.9206.5210.3231.0
228.5235.4248.9264.4275.3292.0291.0287.6308.8307.9
293.8321.2345.4350.4313.7283.6307.6333.7359.1359.2
331.8329.4299.4328.8370.2394.4
302.8298.6290.3305.9
306.9321.0342.5345.0
357.1371.5377.2375.0
381.5392.0399.7404.6
Autooutput
24"l27.635.5
44.938.334.944.843.358.245.848.337.445.7
49.641.149.854.655.366.964.858.370.567.6
53.169.873.982.065.461.880.188.787.380.2
67.173.366.586.097.3
104.0
59.068.575.363.3
77.977.794.194.4
105.390.394.599.1
109.499.0
108.499.1
Source: Department of Commerce, Bureau of Economic Analysis.
261
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-8.—Gross national product by sector, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939
1940194119421943194419451946 .194719481949
1950195119521953195419551956195719581959
I960196119621963196419651966196719681969
19701971197219731974.. .197519761977 .19781979
1980198119821983. .19841985"
1982:1I II l lIV
1983:1I II l lIV
1984:1I II I IIV
1985- 1I II l lI V "
Grossnationalproduct
103.956.091.3
100.4125.5159.0192.7211.4213.4212.4235.2261.6260.4
288.3333.4351.6371.6372.5405.9428.2451.0456.8495.8
515.3533.8574.6606.9649.8705.1772.0816.4892.7963.9
1,015.51,102.71,212.81,359.31,472.81,598.41,782.81,990.52,249.72,508.2
2,732.03,052.63,166.03,401.63,774.73,992.5
3,112.63,159.53,179.43,212.5
3,268.73,365.13,437.53,535.0
3,676.53,757.53,812.23,852.5
3,917.53,960.64,016.94,075.1
Gross domestic product
Total
103.255.790.9
100.1125.0158.5192.3210.9213.0211.6234.1260.1259.0
286.7331.4349.4369.5370.3403.3425.2447.7453.9492.7
511.8530.0570.1602.0644.4699.3766.3810.4885.9957.1
1,008.21,093.41,201.61,343.11,453.31,580.91,761.71,965.12,219.12,464.4
2,684.43,000.53,114.83,350.93,726.73,951.8
3,062.33,105.93,127.43,163.8
3,219.33,316.13,384.73,483.5
3,625.03,712.53,763.73,805.6
3,874.73,920.43,977.24,034.9
Business1
Total *
96.049.381.0
89.8113.0140.4163.4174.9173.5184.8211.3236.4232.9
259.0296.7310.7329.3329.1359.4378.1397.3399.4435.5
449.9463.9499.1526.0562.1610.7666.7699.7762.0820.1
856.3927.4
1,020.01,145.01,237.51,341.21,500.71,682.11,908.42,125.3
2,306.82,582.82,658.22,862.13,203.13,392.0
2,618.92,653.22,667.12,693.6
2,740.72,830.92,892.52,984.2
3,112.63,192.63,236.73,270.6
3,327.83,365.53,414.23,460.4
Nonfarm l
84.843.673.0
82.0103.4128.0149.8156.9153.5165.2189.3214.4213.3
238.3271.1286.7306.3306.7338.8361.4380.1378.8417.9
432.5445.0478.6506.2544.3590.0641.7677.8740.4798.8
831.2897.5988.8
1,098.31,190.01,288.41,448.71,631.71,850.02,054.5
2,236.42,498.92,581.32,802.03,124.43,322.0
2,548.82,575.92,592.72,607.7
2,670.62,767.22,842.52,927.6
3,027.33,112.63,157.33,200.7
3,251.33,301.53,346.93,388.3
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
20.220.220.420.519.321.922.822.222.725.2
26.328.132.851.049.250.348.550.460.371.8
65.579.8
• 77.060.880.269.2
74.976.277.779.0
71.559.454.357.8
82.581.978.677.6
74.068.764.769.5
Statis-tical
discrep-ancy
1.51.21.7
1.4.7
-.7-1.7
2.74.0
.71.8
-1.3.8
.82.71.82.62.71.8
-1.9-1.2-.1
-1.5
-2.8-1.2
.0-.6
-1.4-1.2
2.1-.4
-1.1-3.9
-1.11.8
-1.6-4.3-1.7
2.53.6
.0-1.9-1.0
4.94.1-.1-.6
-1.5.7
-4.81.0
-3.26.8
-1.44.3
-4.3-1.2
2.8-1.9
.8-7.6
2.5-4.7
2.52.5
House-holdsand
insti-tutions
2.91.72.3
2.42.52.93.23.74.14.55.15.65.9
6.56.97.27.88.19.19.9
10.611.512.4
13.914.515.616.717.919.321.323.426.129.5
32.435.639.043.047.252.057.162.470.278.6
89.3101.0112.7122.4131.9140.8
108.5111.2114.5116.9
118.9121.0123.7126.0
128.9131.1132.8134.9
136.9139.3141.9145.2
Government2
Total
4.44.77.6
7.89.5
15.225.632.335.322.417.618.120.1
21.227.731.532.433.034.837.239.843.044.8
48.151.655.459.364.469.378.487.497.8
107.5
119.5130.3142.6155.0168.7187.7203.8220.5240.5260.4
288.3316.7343.9366.4391.7419.0
334.9341.5345.8353.4
359.7364.2368.5373.3
383.6388.9394.3400.0
410.0415.6421.2429.3
Federal
0.91.23.5
3.55.1
10.721.027.330.016.210.39.6
10.7
11.116.619.319.118.319.019.620.221.421.7
22.623.625.226.528.530.034.337.841.944.9
48.451.154.957.161.166.570.975.581.786.9
96.1107.4117.0124.6132.1139.8
114.4116.0116.9120.7
123.1124.3125.0125.9
130.8131.6132.5133.5
138.3139.0139.5142.5
Stateandlocal
3.53.54.2
4.34.44.54.74.95.46.27.38.59.4
10.111.212.313.314.715.817.619.621.623.1
25.527.930.232.935.939.344.149.555.962.6
71.179.387.797.9
107.6121.1132.9145.0158.9173.5
192.2209.3226.9241.8259.6279.2
220.5225.5228.9232.6
236.5239.9243.4247.4
252.8257.3261.8266.5
271.7276.6281.6286.9
Restof theworld
0.8.3.4
.4
.5
.5
.4
.5
.4
.71.21.51.4
1.52.02.22.12.22.63.03.42.93.1
3.53.84.54.95.45.85.66.06.86.8
7.39.3
11.216.219.517.521.125.430.543.8
47.652.151.250.748.040.7
50.353.652.048.7
49.449.052.851.5
51.545.048.546.9
42.840.239.640.2
1 Includes compensation of employees in government enterprises.2 Compensation of government employees.Source: Department of Commerce, Bureau of Economic Analysis.
262
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-9.—Gross national product by sector in 1982 dollars, 1929-85
[Billions of 1982 dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966..196719681969
1970197119721973,197419751976197719781979
198019811982198319841985"
1982: II IHIIV
1983:1I II l lIV. .
1984: I||I I IIV
1985- 1III l lIV"
Grossnationalproduct
709.6498.5716.6
772.9909.4
1,080.31,276.21,380.61,354.81,096.91,066.71,108.71,109.0
1,203.71,328.21,380.01,435.31,416.21,494.91,525.61,551.11,539.21,629.1
1,665.31,708.71,799.41,873.31,973.32,087.62,208.32,271.42,365.62,423.3
2,416.22,484.82,608.52,744.12,729.32,695.02,826.72,958.63,115.23,192.4
3,187.13,248.83,166.03,277.73,492.03,573.5
3,170.43,179.93,154.53,159.3
3,190.63,259.33,303.43,357.2
3,449.43,492.63,510.43,515.6
3,547.83,557.43,584.13,605.0
Gross domestic product
Total
704.6496.1713.5
770.3906.0
1,077.11,273.41,377.71,352.61,093.31,061.61,102.51,103.4
1,197.41,320.31,371.71,427.41,407.81,485.51,515.01,539.71,529.71,619.1
1,654.11,696.61,785.61,858.51,957.12,070.62,192.52,255.02,347.92,406.2
2,399.12,464.12,584.92,711.82,693.52,665.72,793.72,921.23,073.03,136.6
3,131.73,193.63,114.83,228.93,447.53,537.0
3,119.23,125.93,102.93,111.3
3,142.33,212.03,252.73,308.3
3,401.13,450.73,465.63,472.6
3,508.93,521.23,548.63,569.4
Business 1
Total *
611.6404.9586.8
635.5738.7832.9891.6934.3914.3866.3886.1925.4916.7
1,002.81,080.51,114.71,170.01,154.61,229.71,254.11,274.01,260.41,345.8
1,369.71,403.21,480.91,546.71,635.21,737.41,837.11,880.91,961.12,009.8
2,004.42,068.02,186.62,309.12,283.92,249.62,374.82,497.22,639.22,696.4
2,683.22,739.82,658.22,769.42,982.13,065.8
2,663.82,668.92,646.02,654.1
2,684.12,753.42,792.82,847.2
2,938.42,986.02,999.43,004.6
3,039.93,051.13,076.73,095.5
Nonf arm *
547.8338.7518.3
571.2675.8774.4841.6862.5839.3809.0828.6875.1858.5
941.41,014.91,050.91,101.31,084.21,161.51,199.61,219.01,199.71,291.6
1,317.21,346.71,421.11,488.71,581.61,681.81,776.51,824.21,908.31,962.1
1,946.42,001.42,128.02,256.62,226.52,180.62,306.62,434.92,581.02,633.2
2,613.12,659.62,581.32,707.42,912.32,991.9
2,591.82,593.22,573.22,567.1
2,612.02,683.62,743.22,790.7
2,867.52,916.42,925.92,939.2
2.964.62,981.83,000.83,020.2
Farm
54.156.656.4
54.658.162.459.257.253.754.049.955.255.0
58.356.057.259.360.962.060.758.861.258.8
61.160.259.859.857.759.054.757.755.757.2
60.762.362.061.160.764.862.562.261.064.6
64.275.777.062.671.273.3
76.974.776.080.3
73.565.653.857.7
68.371.472.872.5
73.073.573.773.0
Statisti-cal
discrep-ancy
9.79.6
12.1
9.74.8
-4.0-9.214.621.33.37.6
-4.93.2
3.19.76.59.49.56.262
-3.8-.546
87-3.7
.1-1.8-4.1-3.4
5.9-1.0
28-9.5-2.7
4.2-3.4-8.6-3.3
4.25.6.1
2 g-1.4
5.94.4
_ i-!6
-1.4.6
-4.91.0
-3.26.7
-1.44.2
-4.1-1.1
2.6-1.8
.7-7.0
2.3-4.2
2.32.3
House-holdsand
insti-tutions
34.427.133.3
35.835.836.934.334.334.435.437.941.242.4
45.046.146.247.748.453.256.157.760.762.7
67.468.070.772.574.677.480.483.185.688.2
87.088.891.293.493.996.497.098.0
101.0103.7
107.3109.9112.7114.5116.9120.2
111.4112.4113.4113.8
113.9114.0114.8115.4
115.7116.7117.1118.1
118.5119.4120.5122.2
Government 2
Total
58.664.093.4
99.0131.5207.4347.6409.1403.8191.6137.7135.8144.2
149.6193.7210.7209.7204.8202.6204.8208.0208.6210.6
217.1225.4233.9239.2247.3255.8275.0291.0301.2308.2
307.7307.4307.1309.3315.7319.6321.9326.0332.8336.5
341.2343.9343.9345.0348.5351.0
344.0344.6343.6343.5
344.4344.6345.1345.7
347.0347.9349.1349.9
350.4350.7351.4351.6
Federal
13.216.238.9
44.176.2
152.9294.6357.5350.7135.0
76.773.277.1
80.3122.8137.5133.2125.0119.2116.1114.5109.5107.5
108.9111.5116.7116.1116.8117.3128.1138.5140.7141.0
133.2125.5118.3113.6113.5112.8112.7112.7113.9113.0
114.4115.8117.0118.7120.3121.6116.4116.8117.3117.6
118.6118.7118.8118.7
119.5120.0120.6121.0
121.4121.5121.7121.8
Stateandlocal
45.347.954.6
55.055.354.452.951.753.256.661.062.667.1
69.371.073.376.579.883.488.793.599.2
103.1
108.2113.9117.3123.1130.5138.5146.9152.4160.5167.2
174.5181.9188.8195.7202.1206.8209.2213.3219.0223.5
226.8228.1226.9226.3228.2229.5
227.6227.7226.3225.9
225.8225.9226.3227.0
227.4227.9228.5228.9
229.1229.2229.7229.9
Restof theworld
4.92.43.1
2.63.43.12.72.92.33.65.16.25.6
6.27.98.37.98.49.4
10.711.59.5
10.0
11.112.113.914.916.117.015.916.317.717.0
17.120.723.732.235.929.333.037.442.155.7
55.555.251.248.844.536.5
51.254.051.648.0
48.247.450.748.9
48.342.044.843.0
38.936.235.435.6
1 Includes compensation of employees in government enterprises.2 Compensation of government employees.Source: Department of Commerce, Bureau of Economic Analysis.
263
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-10.—Gross national product by industry, 1947-84
[Billions of dollars]
Year
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
Grossnation*
alprod-uct
235.2261.6260.4
288.3333.4351.6371.6372.5
405.9428.2451.0456.8495.8
515.3533.8574.6606.9649.8
705.1772.0816.4892.7963.9
1,015.51,102.71,212.81,359.31,472.8
1,598.41,782.81,990.52,249.72,508.2
2,732.03,052.63,166.03,401.63,774.7
Gross domestic product
Agricul-ture,
forestry,and
fisheries
20.824.019.5
20.823.923.221.420.8
20.019.819.622.120.4
21.721.822.322.321.4
24.225.324.925.728.6
29.932.237.456.255.0
56.355.758.970.183.1
77.292.089.675.895.2
Mining
6.89.48.1
9.310.210.210.711.0
12.513.613.712.612.5
12.812.913.113.413.8
14.014.615.216.217.1
18.718.820.223.436.9
41.346.050.256.572.7
107.3143.7132.1115.5121.2
PA-,uon-struction
9.111.511.5
13.215.616.917.517.7
19.121.322.221.823.7
24.325.327.128.931.6
34.737.939.743.548.7
51.456.563.070.474.5
76.586.297.9
115.6131.4
137.7138.4140.9150.0167.7
Manufacturing
Total
66.274.772.2
84.099.0
103.3112.5106.7
121.3127.2131.8124.3141.8
144.4145.0158.6168.1180.2
198.4217.4222.9243.6257.1
252.3265.7292.5326.4338.5
357.3409.3465.3518.8561.8
581.0643.1634.6692.5779.8
Dura-ble
goods
33.538.237.1
45.955.559.066.161.0
70.873.978.070.081.6
82.581.691.998.0
105.7
118.4130.8133.7146.1154.2
145.9153.8172.6195.4201.7
206.3239.7277.7317.4345.2
351.8385.8362.5390.7454.1
Non-durablegoods
32.736.635.0
38.143.444.346.445.7
50.453.353.854.360.3
61.963.366.870.174.5
80.086.689.297.5
102.9
106.3111.9119.9131.0136.7
151.0169.7187.7201.4216.5
229.2257.3272.1301.8325.7
Trans-portation
andpublic
utilities
21.023.723.9
26.630.232.234.233.8
36.839.641.741.945.1
47.348.951.954.858.3
62.667.470.776.482.6
88.497.1
108.0118.7129.1
141.7160.4178.9201.0216.1
240.8269.6288.4312.8345.3
lA/hnlownoie-saleand
retailtrade
44.248.548.0
51.556.858.960.461.6
67.171.375.076.483.3
85.788.094.198.3
107.1
114.9124.1133.0146.8159.2
168.7183.8202.5225.6246.0
273.7299.7332.8373.4415.8
438.9483.1506.5548.4620.2
Fi-nance,insur-ance,andreal
estate
23.826.929.2
32.235.539.143.347.0
50.754.358.563.168.2
72.876.981.786.592.0
98.91C6.9115.6125.1136.3
145.8161.4174.8190.5206.7
221.7246.1280.3326.3363.3
400.6449.3475.1531.2579.9
Services
20.221.922.6
24.226.428.130.231.6
35.138.741.744.048.3
51.454.859.263.369.0
74.682.590.699.1
110.4
120.2130.2144.6163.2179.4
199.8224.9253.4289.1328.7
374.0422.6463.6514.7575.5
Govern-mentand
govern-mententer-prises
20.220.823.2
24.231.235.736.837.4
39.041.244.547.850.8
54.257.662.167.072.5
78.288.198.4
110.5121.0
134.0145.9160.1173.1189.0
210.1229.7247.4270.3292.4
322.1354.7383.9410.7443.4
Statisti-palcai
discrep-ancy
1.8-•1.3
.8
.82.71.82.62.7
1.8-1.9-1.2-.1
-1.5
-2.8-1.2
.0-.6
-1.4
-1.22.1
-.4-1.1-3.9
-1.11.8
-1.6-4.3-1.7
2.53.6-.0
-1.9-1.0
4.94.1-.1-.6
-1.5
PactKcSlof theworld
1.21.51.4
1.52.02.22.12.2
2.63.03.42.93.1
3.53.84.54.95.4
5.85.66.06.86.8
7.39.3
11.216.219.5
17.521.125.430.543.8
47.652.151.250.748.0
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.
264
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-ll.—Gross national product by industry in 1982 dollars, 1947-84
[Billions of 1982 dollars]
Year
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976 . .197719781979
19801981198219831984
Grossnationalproduct
1,066.71,108.71,109.0
1,203.71,328.21,380.01,435.31,416.2
1,494.91,525.71,551.11,539.31,629.1
1,665.31,708.71,799.41,873.31,973.3
2,087.62,208.32,271.42,365.62,423.3
2,416.22,484.82,608.52,744.02,729.4
2,695.02,826.72,958.63,115.23,192.3
3,187.23,248.83,166.03.277.73,492.0
Gross domestic product
Agri-culture,forest-ry, andfisher-
ies
55.661.361.0
64.362.664.266.368.2
69.167.865.968.365.8
68.367.567.167.265.2
66.762.465.463.665.3
68.870.670.970.369.7
73.171.571.671.876.1
76.288.089.675.885.0
Min-ing
67.672.465.7
72.880.881.584.383.3
92.096.596.289.194.1
94.295.698.1
102.2105.7
109.4115.0120.2124.7128.9
134.5132.4134.4133.4130.3
125.6124.4126.2128.8130.0
135.6139.8132.1125.4133.0
Con-struc-tion
76.790.089.4
100.0110.9115.9119.9124.8
133.3142.7142.4147.5160.4
163.1165.1172.5177.5185.9
193.7194.4190.7190.2183.6
168.0162.7166.7170.4162.3
149.4158.1165.1176.7173.5
161.6147.4140.9147.8156.7
Manufacturing
Total
226.1238.5226.3
257.7288.4298.2319.9296.6
327.7330.6332.5303.5338.0
338.7339.4368.3397.4425.4
462.5497.9496.6522.0536.7
506.8515.5561.2621.3591.6
547.5600.6645.0683.4697.1
665.4676.1634.6680.9760.7
Dura-ble
goods
138.1145.0133.2
156.7181.4190.6208.4185.8
208.5207.3208.7180.1203.0
202.4199.9220.5238.9259.3
286.9312.3311.9326.2334.0
304.8305.5336.5377.0363.5
325.2357.4386.2415.9423.5
401.5404.9362.5394.5462.0
Non-durablegoods
88.093.593.1
101.0107.0107.6111.5110.8
119.2123.3123.8123.4135.0
136.3139.5147.8158.5166.2
175.6185.6184.7195.8202.6
202.0210.0224.8244.3228.1
222.2243.2258.9267.5273.5
263.9271.2272.1286.3298.6
Trans-por-
tationand
publicutil-ities
100.098.790.7
95.3104.9104.5106.7104.1
112.3117.7119.9116.1123.5
127.8130.0136.3143.8150.4
161.5174.2178.1189.5200.3
203.9209.8223.8243.0248.8
246.4257.1268.5284.8293.4
293.4296.2288.4294.2312.8
Whole-saleand
retailtrade
157.8161.9166.1
182.1183.8189.5195.6197.1
215.0221.4225.1225.0240.7
245.4247.7263.9273.8290.7
309.8326.5335.3354.8361.7
367.6385.7414.8437.0426.2
433.1454.4479.2502.4511.7
500.4507.3506.5536.0584.7
Fi-nance,insur-ance,andreal
estate
103.0107.7112.2
119.7126.4134.7142.2149.5
160.2168.8178.3184.5195.9
206.5215.0226.5235.9245.8
259.8271.1282.4296.0314.0
320.7335.9350.9367.7381.6
387.6403.1417.7442.5459.2
464.3474.2475.1488.6512.6
Serv-ices
124.7128.9128.9
133.8136.9139.4142.7145.9
153.0161.1168.6174.3183.5
190.2197.7207.7217.4230.7
240.4253.9265.2274.7287.8
295.7302.4320.0340.2347.5
352.4367.7388.4411.9429.8
442.6462.5463.6485.1509.5
Govern-mentand
govern-mententer-prises
156.2155.5164.0
169.2214.0231.9230.9225.4
223.4225.6229.2230.1232.8
240.3249.2258.4264.5274.0
284.3305.5322.3332.6340.2
339.6340.0340.5343.4350.6
355.0357.7362.9371.5376.2
382.7385.3383.9386.1390.7
Sta-tis-ticaldis-
crep-ancy
7.6-4.9
3.2
3.19.76.59.49.5
6.2-6.2-3.8
5-4.6
-8.7-3.7
.1-1.8
4 1
-3.45.9
-1.0-2.8-9,5
2 74.2
-3.4-8.6-3.3
4.25.6.1
28-1.4
5.94.4-.1-.6
-1.4
Resid-u a l 1
-13.6-7.5-4.2
-.62.05.39.43.5
-6.6-11.1-14,7
8 1-11.0
-11.6-6.9133
-19.712 6
-14.0145-.22.8
-2.7
394.85.1
-6.2-11.8
-8.766
-3.42.1
-9.0
3.512.5
.09.63.2
Restof theworld
5.16.25.6
6.27.98.37.98.4
9.410.711.59.5
10.0
11.112.113.914.916.1
17.015.916.317.717.0
17.120.723.732.235.9
29.333.037.442.155.7
55.555.251.248.844.5
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.
265
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-12.—Gross domestic product of nonfinancial corporate business, 1929-85
[Billions of dollais; quarterly data at seasonally adjusted annual rates]
Year orquarter
192919331939194019411942. . .19431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968 ,19691970197119721973197419751976197719781979198019811982198319841985 "1982: I
1!I l lIV
1983: 1III l lIV
1984- 1I II l lIV
1985: 1I II l lIV
Grossdomes-
ticproduct
ofnon-
inancialcorpo-
ratebusi-ness
50.424.644.050.665.983.399.1
102.695.899.8
121.2138.9135.2153.6176.3184.0196.6193.5218.5233.6244.1238.0267.1277.6285.2311.1331.1357.7392.7430.2452.6499.7542.2560.4605.1671.8753.0812.8881.5995.5
1,126.11,274.11,417.41,540.81,738.41,782.21,915.92,153.12,283.31,777.41,783.2178901,779.41,820.01,884.91,946.52,012.22,088.02,147.02,172.52,205.22,237.02,265.82,301.6
Capitalcon-
sump-tion
allow-anceswith
capitalcon-
sump-tion
adjust-ment
5.34.24.85.05.46.06.16.26.37.49.0
10.511.212.113.914.915.916.817.920.122.123.224.325.326.027.028.229.631.634.537.841.745.750.255.160.565.676.892.5
103.0115.1130.8150.7172.5200.2223.0232.1242.5253.7216.1220.9225 1229.7229.3230.4233.8234.9237.7241.0244.2247.1249.3251.5255.2258.7
Net domestic product
Total
45.120.439.145.660.577.393.096.489.592.4
112.2128.4123.9141.5162.4169.1180.7176.7200.7213.5221.9214.8242.8252.4259.1284.2303.0328.0361.1395.7414.8458.0496.6510.2550.0611.3687.4736.0789.0892.5
1,010.91,143.31,266.71,368.21,538.11,559.31,683.81,910.62,029.71,561.31,562.31 56381,549.71,590.71,654.41,712.71,777.31,850.31,906.01,928.31,958.01,987.72,014.32,046.4
Indi-rectbusi-nesstax,etc.1
3.43.85.15.56.46.87.38.18.9
10.111.913.213.915.316.518.019.218.620.622.423.724.126.228.529.832.234.236.839.440.743.349.954.959.064.769.476.581.588.395.4
104.4114.1122.1138.5165.9166.9182.5202.2213.3165.3165.31672169.7171.6181.8187.3189.3195.6201.8204.6206.7208.2214.2214.8216.2
Domestic income
Total
41.816.534.140.254170.585.788.380.682.3
100.3115.2110.1126.2146.0151.1161.5158.1180.0191.1198.2190.7216.7223.9229.4252.0268.7291.2321.7355.0371.5408.1441.6451.2485.3541.9610.8654.5700.7797.1906.5
1,029.21,144.71,229.71,372.31,392.41,501.31,708.41,816.31,396.01,397.0139671,379.91,419.11,472.61,525.41,588.01,654.61,704.21,723.61,751.31,779.51,800.11,831.6
Com-pensa-tion ofemploy-
ees
32.316.728.231.239851.062.265.161.967.279.187.785.294.7
110.2118.2128.6126.4138.4151.31590155.8171.5181.2185.3200.1211.1226.7246.5274.0292.3323.2358.8378.7402.0447.1505.9556.8580.4656.3741.0847.4962.0
1,051.11,160.51,203.91,267.31,401.61,488.41,198.01,203.31 20781,206.51,222.71,249.51,277.71,319.51,362.31,392.41,414.61,437.21,460.11,480.61,494.71,518.2
Corporate profits with inventory valuation and capitalconsumption adjustments
Total
8.0-1.9
4.47.6
13018.222.422.217.714.420.426.623.930.634.731.731.530.140.038.137.032.242.139.240.147.352.859.369.173.770.574.869.655.465.275.782.469.491.6
113.3134.9146.0139.1123.1144.2111.9160.6221.1242.3118.6113.6115.2100.1124.8151.9173.1192.5213.2227.2220.0224.1229.8232.2253.1
Profits
Profitsbefore
tax
8.4.6
6.18.8
16420.123.622.217.822.029.131.824.938.539.133.834.932.142.041.839.833.743.139.739.544.248.955.465.270.366.573.169.657.065.676.896.9
107.2109.2138.3160.5182.1195.8181.8181.5129.7151.5186.3172.6138.8133.1130.6116.3117.6145.4170.2172.8193.2197.5177.4176.9169.6164.6174.5
taxlability
1.2
U2.775
11.213.812.610.28.6
10.811.89.3
16.921.217.818.515.620.220.119.116.220.719.219.520.622.824.027.229.527.833.633.327.229.933.840.242.241.553.059.967.169.667.063.946.357.071.762.049.447.846.941.040.955.166.065.976.978.486.165.360.958.063.3
Profits after tax
Total
7.3.1
4.76.1908.99.89.67.6
13.418.320.015.621.617.916.016.416.421.821.820.717.522.420.520.123.526.231.438.040.838.639.536.229.835.643.056.765.067.785.4
100.6115.0126.2114.8117.683.494.5
114.6110.689.485.383.775.476.790.3
104.1106.9116.3119.1111.3111.6108.6106.6111.2
Divi-dends
5.12.03.33.5393.73.94.14.14.85.56.06.07.57.17.17.37.48.59.09.39.3
10.010.610.611.412.613.715.616.817.519.119.118.518.520.121.121.724.827.832.037.239.345.553.459.766.572.176.657.857.960.962.268.568.069.559.969.672.572.773.671.783.175.076.8
Undis-tributedprofits
2.2-191.42.6505.25.85.63.58.6
12.814.09.6
14.110.88.89.19.0
13.412.711.48.2
12.49.99.5
12.213.517.722.424.021.220.417.111.317.122.935.643.342.957.668.677.886.969.364.223728.042.534.031.527.422.813,28.2
22.434.647.046.646.638.638.037.023.536.1
Inven-toryvalu-ation
adjust-ment
0.5-2.1-.7-.225
-1.2-.8-.3-.653
-5.9-2.2
1.9-5.0-12
1.0-1.0
3-1.7-2.7-1.5
-!3-.2
.3
.0
.1
-~L221
-1.6-3.7-5.9
66-4.6-6.6
-20.0-39.5-11.0-14.9-16.6-25.3-43.2-43.1-24.2-10.4-10.0-5.4-.4
-7.7-10.3-10.0-13.4-3.4-9.3
-18.1-8.9
-13.0-5.6-1.3-1.6
.72.24.7
-9.0
Capitalcon-
sump-tion
adjust-ment
-0.9-.310
-1.010
-.7-.4
.3
-2^3-2.8-3.0-2.9-2.9-3.2-3.0-2.4-1.6-.3
-1.1-1.2-1.2-.8-.2
.33.13.94.45.25.55.55.35.95.04.25.55.61.7
-6.6-10.2-9.0
-10.9135
-15.5-13.1-7.519.040.370.0
-12.4-9.3
54-2.810.615.921.028.733.035.343.948.859.665.473.981.1
Netinter-est
1.41.71.51.4131.31.11.01.0.7
0.8.9
1.0.9
1.11.21.31.61.61.82.22.73.13.54.04.54.85.36.17.48.8
10.113.217.118.119.222.528.328.727.530.635.943.555.567.576.673.485.785.679.380.273.673.471.671.374.775.979.284.589.090.189.687.383.881.8
1 Indirect business tax and nontax liability plus business transfer payments less subsidies.
Source-. Department of Commerce, Bureau of Economic Analysis.
266
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-13.—Output, costs, and profits of nonfinancial corporate business, 1948-85
[Quarterly data at seasonally adjusted annual rates]
Year orquarter
19481949
1950195119521953195419551956195719581959
1960196119621963. .196419651966196719681969
1970197119721973197419751976197719781979
198019811982198319841985"
1982- 1III l lIV
1983:1||I I IIV
1984:1I II l lIV
1985:1III l l "
Gross domesticproduct of
nonfinancialcorporatebusiness
(billions ofdollars)
Currentdollars
138.9135.2
153.6176.3184.0196.6193.5218.5233.6244.1238.0267.1
277.6285.2311.1331.1357.7392.7430.2452.6499.7542.2
560.4605.1671.8753.0812.8881.5995.5
1,126.11,274.11,417.4
1,540.81,738 41,782.21,915.92,153.12,283.3
1,777.41,783.21,789.01,779.4
1,820.01,884.91,946.52,012.2
2,088.02,147.02,172.52,205.2
2,237.02,265.82,301.6
1982dollars
538.9515.7
570.4622.4637.3668.4650.8719.3747.0758.1725.2798.5
820.8839.1904.8964.4
1,029.01,111.71,189.51,217.01,286.51,339.6
1,325.21,360.61,461.11,569.71,533.41,488.11,583.51,686.61,789.81,840.4
1,807.91,837.21,782.21,866.92,039.32,098.4
1,799.11,791.71,777.81,760.2
1,793.11,842.51,891.21,940.8
2,005.02,043.02,048.22,061.0
2,077.32,087.22,106.9
Current-dollar cost and profit per unit of output (dollars) 1
Totalcostand
profit2
0.258.262
.269
.283
.289
.294
.297
.304
.313
.322
.328
.335
.338
.340
.344
.343
.348
.353
.362
.372
.388
.405
.423
.445
.460
.480
.530
.592
.629
.668
.712
.770
.852
.9461.0001.0261.0561.088
.988
.9951.0061.011
1.0151.0231.0291.037
1.0411.0511.0611.070
1.0771.0861.092
Capitalconsump-
tionallow-anceswith
capitalconsump-
tionadjust-ment
0.019.022
.021
.022
.023
.024
.026
.025
.027
.029
.032
.030
.031
.031
.030
.029
.029
.028
.029
.031
.032
.034
.038
.040
.041
.042
.050
.062
.065
.068
.073
.082
.095
.109
.125
.124
.119
.121
.120
.123
.127
.131
.128
.125
.124
.121
.119
.118
.119
.120
.120
.121
.121
Indi-rectbusi-nesstax,etc.3
0.025.027
.027
.026
.028
.029
.029
.029
.030
.031
.033
.033
.035
.035
.036
.035
.036
.035
.034
.036
.039
.041
.045
.048
.048
.049
.053
.059
.060
.062
.064
.066
.077
.090
.094
.098
.099
.102
.092
.092
.094
.096
.096
.099
.099
.098
.098
.099
.100
.100
.100
.103
.102
Com-pen-
sationof
employ-ees
0.163.165
.166
.177
.185
.192
.194
.192
.203
.210
.215
.215
.221
.221
.221
.219
.220
.222
.230
.240
.251
.268
.286
.295
.306
.322
.363
.390
.414
.439
.473
.523
.581
.632
.676
.679
.687
.709
.666
.672
.679
.685
.682
.678
.676
.680
.679
.682
.691
.697
.703
.709
.709
Corporate profits withinventory valuation and
capital consumptionadjustments
Total
0.049.046
.054
.056
.050
.047
.046
.056
.051
.049
.044
.053
.048
.048
.052
.055
.058
.062
.062
.058
.058
.052
.042
.048
.052
.053
.045
.062
.072
.080
.082
.076
.068
.078
.063
.086
.108
.115
.066
.063
.065
.057
.070
.082
.092
.099
.106
.111
.107
.109
.111
.111
.120
Profitstax
liability
0.022.018
.030
.034
.028
.028
.024
.028
.027
.025
.022
.026
.023
.023
.023
.024
.023
.024
.025
.023
.026
.025
.021
.022
.023
.026
.028
.028
.033
.036
.037
.038
.037
.035
.026
.031
.035
.030
.027
.027
.026
.023
.023
.030
.035
.034
.038
.038
.032
.032
.029
.028
.030
Profitsaftertax4
0.027.028
.024
.022
.022
.020
.022
.028
.024
.024
.022
.027
.024
.025
.029
.031
.034
.038
.037
.035
.032
.027
.021
.026
.029
.027
.018
.034
.038
.044
.044
.038
.031
.044
.037
.055
.073
.086
.038
.037
.038
.034
.047
.053
.057
.065
.068073.075.077
.081
.083
.090
Netinterest
0.002.002
.002
.002
.002
.002
.002
.002
.002
.003
.004
.004
.004
.005
.005
.005
.005
.005
.006
.007
.008
.010
.013
.013
.013
.014
.018
.019
.017
.018
.020
.024
.031
.037
.043
.039
.042
.041
.044
.045
.041
.042
.040
.039
.039
.039
.039
.041
.043
.044
.043
.042
.040
Outputper hour
of allemploy-
ees(1982
dollars)
12.05312.506
12.67213.05813.55014.13514.65514.97915.20515.34415.71515.700
15.71316.15816.49016.83216.33116.69116.98617.25717.35817.221
17.09617.19417.31817.93418.316
17.20317.30117.37517.402
17.70017.88718.03618.109
18.31918.40518.29818.255
18.26018.24418.372
Compen-sation
per hourof all
employ-ees
(dollars)
2.5892.685
2.7972.8842.9973.0933.2293.3213.5023.6853.9484.206
4.4904.7745.0455.4255.9306.5107.0407.5818.2199.002
9.93910.86111.69912.17512.588
11.45611.61911.80411.928
12.07012.13012.18512.313
12.44712.54412.63812.730
12.83512.94213.034
1 Output is measured by gross domestic product of nonfinancial corporate business in 1982 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).
267
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-14.—Personal consumption expenditures, 1929-85
[Billions of dollars,- quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939... .
194019411942194319441945194619471948. ..1949
1950195119521953195419551956. .195719581959
I960.. ..1961196219631964196519661967. ...19681969
1970.1971197219731974197519761977. .19781979
198019811982. .198319841985 "
1982- 1 .IIIllIV
1983:1IIIII.IV
1984:1IIIIIIV
1985- 1IIIII.IV
Personalconsump-
tionexpendi-tures
77.345.867.0
71.080.888.699.5108.2119.6143.9161.9174.9178.3
192.1208.1219.1232.6239.8257.9270.6285.3294.6316.3
330.7341.1361.9381.7409.3440.7477.3503.6552.5597.9
640.0691.6757.6837.2916.5
1,012.81,129.31,257.21,403.51,566.8
1,732.61,915.12,050.72,229.32,423.02,581.9
1,996.32,023.82,065.62,117.0
2,146.02,210.12,254.92,306.3
2,358.62,414.42,439.02,480.1
2,525.02,563.32,606.12,633.3
Durablegoods
9.23.56.7
7.89.76.96.56.78.015.820.422.925.0
30.829.929.332.732.138.938.239.737.242.8
43.541.947.051.856.863.568.570.681.086.2
85.797.6111.2124.7123.8135.4161.5184.5205.6219.0
219.3239.9252.7289.6331.1360.8
245.1248.9252.8263.8
268.5285.3295.3309.4
321.6330.2331.1341.5
351.5356.5376.0359.2
Nondura-ble goods
37.722.335.1
37.042.950858.664.371.982.790.996.694.9
98.2109.2114.7117.8119.7124.7130.8137.1141.7148.5
153.2157.4163.8169.4179.7191.9208.5216.9235.0252.2
270.3283.3305.1339.6380.9416.2452.0490.4541.8613.2
681.4740.6771.0817.0872.4912.5
758.1762.6776.7786.6
792.4811.7826.5837.2
856.6873.2876.6883.1
895.7910.2914.5929.4
Services
30.420.125.2
26.228.331.034.337.239.745.450.655.558.4
63.269.075.182.188.094.3101.6108.5115.7125.0
134.0141.8151.1160.6172.8185.4200.3216.0236.4259.4
284.0310.7341.3373.0411.9461.2515.9582.3656.1734.6
831.9934.7
1,027.01,122.71,219.61,308.6
993.11,012.21,036.11,066.5
1,085.21,113.01,133.11,159.6
1,180.41,211.11,231.31,255.4
1,277.81,296.61,315.61,344.6
Durable goods
Motorvehiclesand parts
3.31.12.3
2.83.5.7.8.81.04.16.68.010.6
13.712.211.313.913.017.815.817.314.818.9
19.717.821.524.426.029.930.330.036.138.4
35.944.951.556.750.355.872.785.495.196.9
90.3100.5108.9130.6153.8167.7
105.7105.7108.3115.7
115.9129.2134.0143.1
150.1154.1153.6157.4
163.1165.4183.0159.3
Furnitureand
householdequip-ment
4.71.93.4
3.84.84.63.93.84.58.410.611.511.3
13.714.114.014.714.816.417.317.216.918.1
18.018.319.320.723.225.128.230.032.934.7
35.737.842.447.951.554.560.267.173.982.1
86.292.795.7107.4119.4128.9
92.395.196.499.1
102.1105.4109.0113.0
116.1118.8119.3123.5
125.7127.6128.6133.9
Other
1.2.51.0
1.11.31.61.92.12.53.23.33.43.2
3.33.63.94.14.34.65.05.25.45.8
5.85.86.36.87.68.410.010.612.013.2
14.114.917.220.122.025.028.532.036.640.0
42.846.648.151.757.964.1
47.148.148.149.0
50.450.752.253.3
55.457.358.260.6
62.763.464.466.0
Nondurable goods
Food
19.511.519.1
20.223.428.433.236.740.647.452.354.252.5
53.960.764.165.466.868.671.475.177.980.7
82.784.887.189.594.6101.0109.0112.3121.6130.5
142.1147.5158.5176.1198.2218.7236.2255.9282.2317.3
349.1376.5398.8422.0451.7474.2
388.9396.7402.7407.0
413.1419.0426.0430.0
440.0449.9457.1459.6
465.5472.1475.9483.3
Clothingandshoes
9.44.67.1
7.58.811.013.414.616.518.218.820.119.3
19.621.322.022.222.323.324.424.524.926.4
27.027.629.029.832.434.137.439.243.246.5
47.851.756.462.566.070.876.684.194.8102.2
109.0119.9124.4135.2147.4156.1
123.4122.8125.0126.5
129.4135.0135.5140.9
144.4149.1146.4149.7
152.8156.3155.7159.8
See next page for continuation of table.
268
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-14.—Personal consumption expenditures, 1929-85—Continued
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
196019611962196319641965 .1966196719681969 .
1970 . .197119721973197419751976197719781979
198019811982198319841985 p
1982- 1III l lIV
1983- 1III l lIV
1984- 1III l lIV
1985:1III l lIV P
Nondurable goods— cont'd
Gasolineand oil
1.81.52.2
2.32.62.11.31.41.83.44.04.85.3
5.56.16.87.47.88.69.4
10.210.611.3
12.012.012.613.013.614.816.017.118.620.5
21.923.224.428.136.139.743.046.951.366.1
83.792.789.190.190.792.0
91.586.488.689.8
86.589.492.592.1
92.091.989.189.8
89.392.992.293.7
Fuel oiland coal
1.61.21.4
1.51.71.92.02.02.22.53.03.43.1
3.43.53.53.43.53.83.94.14.24.0
3.83.83.84.04.14.44.74.84.74.6
4.44.65.16.37.88.4
10.111.112.015.8
18.019.418.617.517.915.8
19.018.418.918.2
15.717.618.518.3
18.918.217.816.8
16.115.416.015.9
Other
5.43.55.3
5.66.47.58.79.6
10.811.312.814.114.7
15.817.618.419.419.320.421.723.224.226.1
27.729.231.433.135.037.641.443.547.050.2
54.156.460.866.672.778.586.092.4
101.4111.8
121.5132.2140.1152.1164.7174.3
135.2138.3141.5145.2
147.5150.7154.1155.8
161.3164.1166.2167.3
172.1173.5174.8176.8
Services
Housing *
11.78.19.4
9.710.411.211.812.312.814.216.017.919.6
21.724.327.029.932.334.436.739.342.045.0
48.251.254.758.061.465.469.574.179.786.8
94.0102.7112.1123.1135.1148.4163.5182.4205.2231.1
261.5295.6321.1344.0371.3403.3
313.3316.9323.7330.3
335.4340.3346.8353.6
359.8367.6375.5382.3
389.1398.1408.0418.0
Household operation
Total
4.02.83.8
4.04.34.85.25.96.46.87.58.18.5
9.510.411.212.112.714.215.416.317.418.7
20.321.222.423.625.026.528.230.132.335.0
37.740.945.249.655.463.572.381.790.9
100.3
113.9127.5143.4155.9166.0173.2
139.9142.0143.7148.0
149.7155.6157.4160.8
161.4166.6166.9168.9
174.2171.1173.3174.0
Electricityand gas
1.21.11.4
1.51.51.61.71.81.92.12.32.62.9
3.33.74.14.55.05.56.16.57.17.6
8.38.89.49.9
10.410.911.512.213.014.0
15.216.618.420.023.528.532.537.642.146.8
56.463.572.880.284.688.8
72.372.071.974.8
74.979.982.183.9
81.784.884.587.2
93.087.087.687.5
Other
2.91.72.4
2.62.73.23.54.14.54.75.15.45.6
6.26.77.17.67.78.69.39.8
10.411.1
11.912.312.913.714.615.616.717.919.321.0
22.524.326.829.631.935.039.844.148.853.4
57.564.070.675.781.484.4
67.670.071.773.2
74.875.775.376.9
79.881.882.481.7
81.384.185.786.6
Transpor-tation
2.61.52.0
2.12.42.73.43.74.05.05.35.85.9
6.26.87.38.08.28.58.99.49.7
10.5
11.211.712.212.713.414.515.917.318.920.9
23.727.129.831.233.335.741.349.253.559.0
64.568.369.774.782.186.8
68.169.170.471.1
72.372.976.177.4
79.881.982.384.4
85.686.286.788.7
Medicalcare
2.21.52.1
2.22.42.72.93.33.64.65.66.36.5
6.97.48.39.3
10.210.811.712.814.015.3
16.417.519.421.024.125.928.331.135.740.9
' 46.151.857.864.472.484.295.9
111.5125.1141.4
164.2193.5217.8237.4259.5280.3
208.1214.8221.3226.9
230.6235.2239.0244.8
250.0257.1262.6268.1
271.9278.5281.8288.9
Other
9.96.38.0
8.28.99.6
11.012.012.915.016,317.417.8
18.820.121.422.924.626.528.930.732.535.4
38.040.342.445.348.953.158.563.569.975.8
82.588.296.5
104.7115.7129.3142.9157.5181.4202.7
227.9249.7275.1310.7340.7365.1
263.7269.5277.1290.2
297.1309.0313.8323.0
329.4338.0343.9351.7
357.0362.7365.8375.0
1 Includes imputed rental value of owner-occupied housing.Source: Department of Commerce, Bureau of Economic Analysis.
269
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-15.—Gross and net private domestic investment, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956 . .195719581959
19601961196219631964196519661967196819691970197119721973197419751976197719781979
198019811982198319841985 p
1982- 1I II l lIV
1983:1||I I IIV
1984- 1I II l lIV
1985:1I I .I l lIV '; . .
Grossprivate
domesticinvest-ment
16.71.69.5
13.418.310.36.27.7
11.331.535.047.136.5
55.160.553.554.954.169.772.771.163.680.2
78.277.187.693.199.6
116.2128.6125.7137.0153.2
148.8172.5202.0238.8240.8219.6277.7344.1416.8454.8
437.0515.5447.3501.9674.0670.4
459.5467.8452.2409.6
425.0483.7521.2577.6
658.8673.3687.9676.2
657.6672.8666.1685.2
Less:
consump-tion
allow-anceswith
capitalconsump-
tionadjust-ment
9.97.69.0
9.410.311.311.612.012.414.217.620.422.0
23.627.229.230.932.534.438.141.142.844.6
46.447.849.451.453.957.462.167.473.981.4
88.897.5
107.9118.1137.5161.8179.2201.5229.9265.8
303.8347.8383.2399.6418.9438.2
373.3379.8386.3393.2
394.5396.1403.3404.4
409.1416.4422.5427.7
430.5433.8441.4447.3
Equals: Net private domestic investment
Total
6.7-6.1
.5
4.18.0
-1.0-5.3-4.2-1.117.317.526.714.5
31.533.324.424.021.635.334.629.920.835.5
31.829.438.241.845.758.866.558.363.171.8
60.074.994.1
120.7103.457.898.4
142.5186.9189.1
133.1167.764.1
102.3255.1232.2
86.288.065.916.4
30.487.6
117.9173.2
249.6256.9265.4248.5
227.0239.0224.7238.0
Net fixed investment
Total
5.0-4.5
.1
1.93.5
-2.7-4.7-3.2-.110.917.922.017.6
24.623.121.323.623.329.629.928.522.329.8
28.727.032.135.940.348.952.348.055.262.0
56.967.283.6
101.187.963.482.4
121.3158.3176.1
141.5143.788.7
108.7188.0223.1
110.493.074.976.3
73.293.2
120.7147.7
157.5188.0197.1209.5
208.5223.5224.5235.9
Nonresidential
Total
3.3-3.5_ 7
.72.02 1
-3.1-1.3
1.76.9
10.711.88.7
10.311.610.111.910.213.215.615.99.6
12.1
13.411.914.916.020.329.335.832.334.239.8
36.834.540.556.255.837.540.958.682.298.9
88.998.665.542.199.3
133.3
Struc-tures
1.8-1.7-1.1
-.8_ 3If
-2.4-1.9-1.0
2.41.92.52.2
2.83.93.84.85.05.97.97.96.36.4
7.37.38.07.99.4
13.215.214.415.117.4
17.416.817.421.722.015.616.017.625.034.539.451.745.925.342.561.2
Produc-ers'
durableequip-ment
1.4-1.8
.4
1.52.3
5_ 7
is2.84.58.79.36.5
7.57.76.47.15.27.37.78.13.25.7
6.14.66.98.1
10.916.120.718.019.022.4
19.417.723.134.433.721.924.841.057.264.5
49.546.919.616.856.872.1
Residen-tial
1.7-1.0
.8
1.21.5
-.6-1.6-1.9-1.8
4.07.3
10.28.9
14.411.511.211.713.016.414.412.612.717.7
15.415.117.219.920.019.616.515.721.022.2
20.132.743.145.032.225.941.662.676.177.2
52.645.023.266.688.889.8
Change inbusinessinvento-
ries
1.7-1.6
.4
2.24.51.8
-.6-1.0-1.0
6.4-.54.7
-3.1
6.810.23.1
.4-1.6
5.74.61.4
-1.55.8
3.12.46.15.85.49.9
14.210.37.99.8
3.17.8
10.519.615.4
-5.616.021.328.613.0
-8.324.0
-24.5-6.467.19.1
-24.1-5.0-9.0
-59.9
-42.7-5.5-2.825.5
92.168.968.339.0
18.515.5
.22.1
Source.- Department of Commerce, Bureau of Economic Analysis.
270
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-16.—Gross and net private domestic investment in 1982 dollars, 1929-85
[Billions of 1982 dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939194019411942194319441945194619471948194919501951 . . . . .1952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985".1982-1
||I I IIV
1983- 1III l lIV
1984- 1III I IIV
1985- 1||I I IIV P
Grossprivate
domesticinvest-ment
139.222.786.0
111.8138.876.750.456.476.5
178.1177.9208.2168.8234.9235.2211.8216.6212.6259.8257.8243.4221.4270.3260.5259.1288.6307.1325.9367.0390.5374.4391.8410.3381.5419.3465.4520.8481.3383.3453.5521.3576.9575.2509.3545.5447.3503.4661.3650.6464.2467.5448.6408.8422.5489.0526.3575.9649.0662.9673.3659.9639.6655.6645.0662.2
Less:Capital
consump-tion
allow-anceswith
capitalconsump-
tionadjust-ment
86.886.584.484.986.386.985.784.885.488.091.896.8
101.7106.5111.8117.0122.1127.4132.6138.3143.5147.7151.9156.3160.6165.1170.3176.3183.7192.2201.1209.8219.8229.8239.5253.4263.6276.1287.0297.3309.6323.7341.3356.1369.7383.2394.0405.9423.3377.7381.0384.0390.0388.9391.4398.3397.3400.7404.2407.7411.0415.2420.1426.6431.2
Equals: Net private domestic investment
Total
52.4-63.8
1.626.952.5
-10.2-35.3
284-8.990.186.1
111.467.1
128.4123.394.894.485.2
127.2119.599.973.7
118.4104.198.4
123.5136.8149.6183.4198.3173.4181.9190.5151.8179.8212.1257.1205.3
96.3156.2211.72533234.0153.2175.864.1
109.4255.4227.386.586.564.618.833.697.6
128.0178.6248.3258.7265.6248.9224.4235.5218.4231.0
Net fixed investment
Total
41.6-53.0-2.312.524.7
-22.1-36.0-23.3
-.562.287.199.176.7
104.292.584.891.790.0
110.9106.596.977.1
101.996.491.2
107.3120.1133.9158.1161.4144.6160.9165.3143.6160.2190.3217.1172.0109.1134.1182.6216.5218.9160.1152.088.7
114.9192.7220.0110.591.974.078.175.8
101.3126.6156.0164.7192.7200.7212.8208.6220.4220.2230.9
Nonresidential
Total
26.2-40.2-10.1
1.512.0
-17.5-24.4
10510.539.552.654.337.943.346.941.747,040.449.954.951.731.538.541.437.346.449.263.390.4
106.393.696.1
103.189.376.185.3
116.5106.960.861.885.2
111.6124.3101.3105.565.549.8
109.6137.3
Struc-tures
16.8-24.3
120-8.5-3.5
-15.9-20.7-15.2-8.315.411.714.312.715.718.818.822.924.427.732.530.724.825.027.928.130.329.134.046.250.445.946.749.746.140.439.846.842.527.927.328.737.244.847.256.045.928.845.258.3
Produc-ers'
durableequip-ment
9.4-16.0
1.910.015.6
-1.6-3.8
4.718.824.140.940.025.227.628.122.924.116.022.222.420.9
6.613.613.69.3
16.020.129.244.255.847.749.353.443.335.745.569.864.432.934.656.574.379.554.149.419.621.064.479.0
Residen-tial
15.4-12.8
7.811.112.746
-11.5-12.8-11.0
22.734.544.838.960.945.643.244.749.660.951.645.245.663.455.053.861.070.970.667.755.150.964.862.254.284.1
105.0100.665.148.372.297.4
104.994.658.746.523.265.183.182.8
Change inbusinessinvento-
ries
10.81073.9
14.427.812.0
-5^2-8.427.9
-1.012.397
24.230.810.02.8
-4.816.312.93.034
16.57.77.3
16.216.615.725.236.928.821.025.18.2
19.621.840.033.3
-12.822.129.136.815.0
-6.923.9
-24.5-5.562.7
7.3-24.0-5.4-9.4
-59.3-42.2-3.7
1.422.683.666.064.936.115.815.1
-1.8.1
Source: Department of Commerce, Bureau of Economic Analysis.
271
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-17.—Inventories and final sales of business, 1946-85
[Billions of dollars, except as noted; seasonally adjusted]
Quarter
Fourth quarter:1946194719481949
1950195119521953195419551956195719581959
I960196119621963196419651966196719681969
197019711972 . . . .1973197419751976197719781979
19801981 . .1982198319841985 p
1982: I||I I IIV
1983: 1I II l lIV
1984: II II l lIV
1985- 1I II l lIV
Inventories '
Total
70.779.985.177.1
96.1108.8108.0109.1106.8114.0122.8126.3126.2131.7
135.5137.2143.8149.6155.3169.1185.2197.4211.8232.4
240.3257.8285.6352.6423.3428.8463.3505.7588.2674.8
739.3789.0771.5789.1858.5859.1
784.0786.6784.7771.5
764.5769.9778.5789.1
820.1836.5850.7858.5
859.9858.5856.1859.1
Farm
19.621.019.316.7
22.524.923.322.021.219.919.921.222.622.1
23.323.825.225.724.528.027.427.929.131.8
31.135.444.365.562.464.360.259.373.780.7
84.581.679.279.983.674.9
82.984.282.179.2
79.379.276.379.9
86.287.185.583.6
82.979.977.874.9
Nonfarm
Total
51.058.865.860.4
73.783.984.787.185.594.1
102.8105.1103.7109.6
112.2113.4118.6123.8130.9141.0157.8169.5182.6200.6
209.2222.4241.3287.1360.9364.5403.1446.4514.5594.1
654.8707.4692.2709.2774.8784.2
701.1702.4702.6692.2
685.2690.7702.2709.2
733.9749.4765.3774.8
777.0778.6778.4784.2
Manu-facturing
24.629.032.228.6
34.943.144.046.043.948.354.054.352.755.2
56.257.260.362.265.970.780.987.594.0
103.4
105.8107.3113.6136.1177.0177.8194.9210.6238.4281.1
310.7330.2316.1317.3345.7341.0
327.6323.4321.0316.1
310.1311.4315.2317.3
327.2336.2344.2345.7
344.6343.6342.7341.0
Whole-saletrade
10.411.112.512.5
14.715.615.615.816.117.618.919.219.321.0
21.321.822.423,925.226.930.332.734.637.9
41,745.250.059.475.676.286.196.2
113.8133.7
154.8164.7162.2164.0178.5179.5
161.8164.7164.2162.2
159.1158.8162.3164.0
168.4171.9176.2178.5
179.0180.4180.0179.5
Retailtrade
12.814.516.615.4
19.219.719.420.020.222.823.725.025.126.2
27.527.028.329.631.033.736.236.940.744.5
45.852.357.766.474.674.782.793.3
107.8117.0
122.7134.0134.7147.0161.7171.9
132.3133.6136.8134.7
135.9139.5142.6147.0
154.2155.4156.8161.7
165.0164.8165.2171.9
Other
3.24.14.53.9
4.95.55.65.25.35.46.26.66.67.2
7.27.47.58.08.89.8
10.412.413.314.9
16.017.619.925.233.735.839.446.354.562.3
66.778.579.280.988.991.8
79.580.780.779.2
80.180.982.180.9
84.085.988.188.9
88.589.790.591.8
Finalsales 2
15.918.419.819.7
21.824.926.427.528.030.231.933.334.336.2
37.539.541.844.547.152.155.358.864.868.8
72.478.987.796.8
104.6117.1128.5143.9165.1183.2
201.1217.8229.5246.6269.3288.2
220.3221.5223.0229.5
232.0236.4241.3246.6
251.7260.3264.0269.3
275.8279.2284.5288.2
Inventory—finalsales ratio
Total
4.454.334.313.92
4.414.384.093.963.823.783.843.803.683.64
3.613.473.443.363.303.243.353.363.273.38
3.323.273.263.644.053.663.603.513.563.68
3.683.623.363.203.192.98
3.563.553.523.36
3.303.263.233.20
3.263,213.223.19
3.123.083.012.98
Non-fa rm 3
3.213.193.333.07
3.383.373.203.163.063.123.223.163.023.03
2.992.872.842.782.782.702.852.882.822.91
2.892.822.752.973.453.113.143.103.123.24
3.263.253.022.882.882.72
3.183.173.153.02
2.952.922.912.88
2.922.882.902.88
2.822.792.742.72
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 Analysis.
272
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-1S.-—Inventories and final sales of business in 1982 dollars, 1947-85
[Billions of 1982 dollars, except as noted; seasonally adjusted]
Quarter
Fourth quarter:19471948 .1949
19501951195219531954
1955 ,1956195719581959 . . .
19601961 .. ..196219631964
19651966196719681969
19701971197219731974
1975...1976197719781979
1980198119821983.19841985 *
1982- 1III I IIV
1983: 1II .I l lIV
1984: 1III l lIV.
1985: 1III I IIV P
Inventories *
Total
251.3263.5253.9
278.1308.9318.9321.6316.9
333.2346.1349.1345.7362.2
370.0377.2393.4410.1425.8
451.0487.9516.6537.7562.8
571.1590.7612.4652.5685.7
673.0695.1724.2761.0776.0
769.1793.0768.4763.0825.5832.9
787.0785.6783.3768.4
757.9756.9757.3763.0
783.9800.4816.6825.6
829.6833.4832.9832.9
Farm
43.345.444.4
47.751.554.654.355.9
56.053.754.957.358.1
59.460.863.565.864.0
66.366.167.768.269.0
69.873.475.981.481.3
82.679.177.277.882.4
77.882.681.275.482.279.4
81.682.683.481.2
79.177.774.475.4
79.180.781.882.2
83.284.383.479.4
Nonfarm
Total
208.0218.1209.5
230.4257.4264.3267.4260.9
277.1292.4294.2288.4304.2
310.5316.5329.9344.2361.8
384.7421.7449.0469.4493.8
501.2517.3536.6571.0604.5
590.3616.1647.0683.2693.6
691.4710.3687.2687.6743.4753.6
705.4703.0699.8687.2
678.8679.2682.9687.6
704.8719.7734.8743.4
746.4749.1749.5753.6
Manu-facturing
105.1108.6102.9
109.8133.2139.0142.7135.0
142.5153.2152.1146.8153.5
154.7158.8167.2172.6180.9
191.6213.6229.2239.0248.5
248.3246.1251.7267.9288.5
281.9294.0301.9314.1324.7
326.8330.3315.2310.0333.4330.5
328.4323.9320.7315.2
309.1308.5308.7310.0
316.3324.7332.3333.4
333.7333.6332.6330.5
Whole-sale
trade
39.942.742.8
47.649.050.050.451.1
54.856.656.056.060.7
61.863.165.068.972.6
76.585.190.793.598.9
105.8110.7114.0118.4128.4
124.0131.2140.5151.6156.1
161.6165.0161.5158.1171.9174.4
162.8164.5163.9161.5
157.7155.8156.7158.1
160.7164.6169.1171.9
171.9174.1174.1174.4
Retailtrade
39.643.742.8
49.549.649.650.851.2
57.157.859.859.461.9
65.264.267.570.373.4
79.284.384.290.596.4
96.6107.2114.0122.1121.1
115.9122.3130.9139.1136.7
130.4135.5132.9141.2153.1160.6
133.5133.5135.8132.9
133.5136.0137.8141.2
146.7147.9149.0153.1
155.4155.2155.7160.6
Other
23.523.121.1
23.425.625.823.523.6
22.724.826.326.328.1
28.830.330.132.434.9
37.438.745.046.550.0
50.553.256.962.666.4
68.668.573.778.476.1
72.779.577.678.385.188.1
80.781.279.577.6
78.578.979.778.3
81.182.584.385.1
85.486.287.088.1
Finalsales2
74.877.177.3
82.690.493.998.097.7
102.5104.7105.9107.7111.4
114.1118.7123.4130.4136.3
147.7150.2156.4163.7165.4
166.8172.6185.4188.9184.3
191.5199.3209.0221.5225.6
225.3224.6226.1235.4247.4258.0
224.0222.9221.3226.1
227.2229.8231.8235.4
237.9243.3244.5247.4
252.0253.0256.5258.0
Inventory— finalsales ratio
Total
3.363.423.28
3.373.423.403.283.24
3.253.313.303.213.25
3.243.183.193.143.12
3.053.253.303.283.40
3.423.423,303.453.72
3.513.493.473.443.44
3.413.533.403.243.343.23
3.513.533.543.40
3.343.293.273.24
3.293.293.343.34
3.293.293.253.23
Non-farm 3
2.782.832.71
2.792.852.812.732.67
2.7.02.792.782.682.73
2.722.672.672.642.65
2.602.812.872.872.98
3.003.002.893.023.28
3.083.093.103.083.08
3.073.163.042.923.012.92
3.153.153.163.04
2.992.962.952.92
2.962.963.003.01
2.962.962.922.92
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 IndustrialClassification (SIC) beginning 1948 and on the 1942 SIC prior to 1948.
Source: Department of Commerce, Bureau of Economic Analysis.
273
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-19.—Foreign transactions in the national income and product accounts, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
198019811982198319841985 *.
1982:1I II l lIV
1983:1||I I IIV
1984:1||l i lIV
1985:1I II l lIV "
Receipts from foreigners
Total
7.12.44.6
5.46.15.04.65.57.4
15.220.317.516.4
14.519.819.218.118.821.125.228.224.425.0
29.931.133.135.740.542.946.649.554.860.4
69.873.182.1
114.1149.5161.3177.7191.6227.5292.4
352.1383.9361.9354.1384.6370.4
373.0378.9359.9335.9
344.6345.0358.0368.8
375.4382.3391.4389.5
379.6369.2363.2369.7
Exports of goods andservices
Total
7.12.44.6
5.46.15.04.65.57.4
15.220.317.516.4
14.519.819.218.118.821.125.228.224.425.0
29.931.133.135.740.542.946.649.554.860.4
68.972.481.4
114.1151.5161.3177.7191.6227.5291.2
351.0382.8361.9354.1384.6370.4
373.0378.9359.9335.9
344.6345.0358.0368.8
375.4382.3391.4389.5
379.6369.2363.2369.7
Mer-chan-dise
5.31.73.3
4.14.53.42.93.65.4
11.816.113.312.2
10.214.213.412.412.914.417.619.616.416.5
20.520.921.723.326.727.830.732.235.338.3
44.545.651.773.9
101.0109.6117.5123.1144.7183.3
225.1238.3214.0206.0224.1219.2
225.1224.0210.5196.3
200.8200.4205.0217.7
218.7223.0225.8229.0
225.8219.7213.6217.9
Serv-ices
1.7.7
1.3
1.31.61.61.71.92.13.44.24.34.1
4.35.55.85.75.96.77.68.78.08.5
9.410.111.412.313.815.115.817.319.522.1
24.426.829.640.250.551.760.268.682.8
107.9
125.9144.5148.0148.1160.5151.2
147.9155.0149.4139.6
143.8144.6153.0151.1
156.7159.3165.6160.5
153.8149.5149.6151.8
Capitalgrants
receivedby theUnitedStates(net)
0.9.7.7.0
-2.0.0.0.0.0
1.1
1.21.1.0.0.0.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
Payments to foreigners
Total
7.12.44.6
5.46.15.04.65.57.4
15.220.317.516.4
14.519.819.218.118.821.125.228.224.425.0
29.931.133.135.740.542.946.649.554.860.4
69.873.182.1
114.1149.5161.3177.7191.6227.5292.4
352.1383.9361.9354.1384.6370.4
373.0378.9359.9335.9
344.6345.0358.0368.8
375.4382.3391.4389.5
379.6369.2363.2369.7
Imports of goodservices
Total
5.92.13.4
3.74.74.86.57.27.97.38.3
10.69.8
12.315.316.016.816.318.119.920.921.123.5
24.023.926.227.529.633.239.142.149.354.7
60.566.178.297.3
135.2130.3158.9189.7223.4272.5
318.9348.9335.6359.4443.8444.8
338.4336.8345.4321.9
316.2347.5377.6396.2
412.8447.6453.3461.7
421.9439.5451.0466.9
Mer-chan-dise
4.51.52.4
2.73.42.73.43.83.95.16.07.66.9
9.111.210.811.010.411.512.813.313.015.3
15.215.116.917.719.422.226.327.833.936.8
40.946.656.971.8
104.599.0
124.3151.9176.5211.9
247.5266.5249.5271.4336.0337.0
252.6246.2259.2239.9
236.1261.6285.4302.5
314.9338.1340.4350.6
316.1331.9343.5356.5
s and
Serv-ices
1.5.6
1.0
1.01.32.13.13.44.02.32.43.02.9
3.24.15.25.85.96.67.17.68.18.2
8.88.89.39.7
10.211.012.714.415.417.9
19.619.521.325.530.731.334.637.946.960.5
71.482.486.188.0
107.9107.8
85.790.686.282.0
80.185.992.293.7
97.9109.6112.9111.1
105.8107.6107.5110.4
Transfer payments (net)
Total
0.4.2.2
.2
.2
.2
.2
.3
.82.92.64.55.6
4.03.52.52.52.32.52.42.32.32.3
2.42.72.82.93.03.03.13.33.23.2
3.53.94.14.14.64.95.45.15.66.2
7.77.59.09.5
12.015.3
9.48.18.0
10.6
7.18.29.5
13.3
9.59.6
12.117.0
13.314.316.916.7
Frompersons(net)
0.3.2.2
.2
.2
.1
.2
.4
.5
.7
.7
.7
.5
.4
.4
.4
.5
.5
.4
.5
.5
.4
.4
.4
.5
.5
.6
.7
.7
.7
.9
.91.0
1.21.21.11.31.01.01.0.9.9
1.0
1.11.01.31.01.32.1
1.31.41.21.1
.91.01.11.2
1.41.21.21.5
2.11.82.22.1
Fromgovern-
ment(net)
0.0.0.0
.0
.0
.1-.1-.1
.42.32.03.95.1
3.63.12.12.01.82.11.91.81.81.9
1.92.22.32.32.32.32.42.42.32.2
2.32.72.92.93.64.04.44.24.75.2
6.56.57.88.5
10.713.3
8.06.86.89.5
6.27.28.4
12.2
8.18.3
11.015.5
11.212.514.714.7
Interestpaid bygovern-ment to
foreigners
0.0.0.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.1
.1
.1
.1
.2
.2
.1
.3
.3
.3
.3
.4
.5
.5
.5
.6
.7
.8
1.01.82.73.84.34.54.55.58.7
11.1
12.616.918.317.819.821.3
18.017.518.818.9
17.717.517.818.3
18.619.120.221.2
21.221.121.521.5
Netforeigninvest-ment
0.8.2
1.0
1.51.3-.1
-2.1-2.0-1.3
4.99.32.4
.9
-1.8.9.6
-1.3.2.4
2.84.8
.9-1.2
3.24.23.84.97.56.23.83.51.61.7
4.81.3
-2.98.85.4
21.69.0
-8.7-10.1
2.6
13.010.6
-1.0-32.7-91.0
-111.0
7.316.5
-12.3-15.4
3.6-28.2-47.0-59.0
-65.5-93.9-94.3
-110.4
-76.8-105.8-126.2-135.4
Source: Department of Commerce, Bureau of Economic Analysis.
274
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-20.—Exports and imports of goods and services in 1982 dollars, 1929-85
[Billions of 1982 dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939
1940194119421943194419451946194719481949 . . .
195019511952 .195319541955.. . .195619571958. . .1959
1960 .196119621963 . .19641965.. . .1966196719681969
19701971197219731974.. . .19751976 . .19771978197919801981198219831984.. . .1985 p
1982- 1I II l lIV
1983- 1IIIllIV
1984:1II111IV
1985- 1III l lIV p
Exports of goods and services
Total
42.122.736.2
40.042.029.125.127.335.269.082.366.265.059.272.070.166.970.076.987.994.982.483.7
98.4100.7106.9114.7128.8132.0138.4143.6155.7165.0
178.3179.2195.2242.3269.1259.7274.4281.6312.6356.8
388.9392.7361.9349.4370.9360.2
374.1378.5359.5336.0
342.8342.4353.1359.1362.7366.6376.9377.3
368.7358.2353.5360.4
Merchandise
Total
29.715.926.5
30.531.719.515.216.424.054.165.549.148.4
42.251.149.046.448.853.261.866.656.656.1
68.869.172.277.687.788.294.096.5
104.9110.0
120.6119.3131.3160.6175.8171.5177.5178.1196.2218.2241.8238.5214.0207.2222.5224.8
222.9222.5211.4199.1
203.0202.9206.8216.2
216.1218.7224.6230.7
229.3223.9220.0225.9
Dura-ble
goods
12.34.5
13.3
18.920.213.410.511.012.623.134.424.524.1
21.023.825.325.826.930.334.437.231.030.5
37.938.039.842.148.250.053.658.864.869.5
74.372.980.099.3
113.9112.1112.9111.2121.9136.6150.0143.8121.9119.3130.7136.9127.6126.8122.5110.8114.8116.8119.4126.2
126.7128.5132.6135.1137.1137.4135.81375
Non-dur-able
goods
17.511.413.1
11.611.66.14.85.4
11.331.031.124.624.2
21.327.323.720.621.922.927.429.425.625.6
30.931.132.435.539.538.240.437.740.140.5
46.346.451.361.362.059.564.766.974.381.691.994.692.187.991.887.995.295.789.088.388.286.187.490.089.490.292.095.7
92.286.584.288.5
Services
Total
12.36.89.8
9.410.39.69.8
10.911.214.916.917.116.7
17.020.921.220.521.223.726.128.325.827.6
29.631.634.737.141.143.844.447.150.855.0
57.659.964.081,793.388.296.8
103.6116.4138.6147.1154.3148.0142.1148.3135.4151.2155.9148.0136.9
139.8139.4146.3142.9
146.6147.8152.3146.5139.4134.3133.5134.5
Factorin-
come !
7.63.75.2
4.65.24.84.64.94.85.67.28.58.2
9.110.911.311.011.613.014.114.813.214.015.716.918.520.021.823.222.823.826.329.0
29.630.533.946.253.545.649.753.563.286.691.496.391.686.293.480.692.698.692.483.081.783.690.589.1
91.893.596.891.582.480.779.180.4
Other
4.83.14.5
4.85.14.95.26.06.59.49.78.68.5
7.910.09.99.59.6
10.712.013.512.613.5
13.914.716.217.219.320.621.623.324.526.0
28.029.430.135.439.842.647.150.153.252.055.757.956.355.954.954.858.657.355.653.858.155.955.853.8
54.854.355.555.157.053.654.454.1
Imports of goods and services
Total
37.424.230.131.738.236.948.051.154.142.039.947.146.2
54.657.463.369.767.576.983.687.992.8
101.9102.4103.3114.4116.6122.8134.7152.1160.5185.3199.9
208.3218.9244.6273.8268.4240.8285.4317.1339.4353.2
332.0343.4335.6368.8455.9465.3
333.7336.8347.8324.3
320.3357.4389.3408.0
423.3457.0465.6477.5
440.5459.3473.3488.0
Merchandise
Total
29.319.224.0
25.629.421.025.026.526.030.029.333.933.3
40.940.441.944.642.148.353.656.158.168.0
67.569.078.981.286.397.0
109.1113.0135.7144.6
150.9166.2190.7218.2211.8187.9229.3259.4274.1277.9
253.6258.7249.5282.3352.1362.9
247.6246.1261.5242.7
241.2272.7298.8316.6
328.5351.4357.4371.0
338.9356.9371.5384.3
Dura-ble
goods
7.44.06.9
8.811.06.76.56.76.97.87.89.48.9
11.511.513.013.711.914.716.817.116.922.821.721.124.826.229.035.644.048.061.765.666.874.484.488.989.272.488.599.3
113.7115.7
116.1126.1125.3150.3201.5215.4127.4129.0127.6117.1130.8141.1153.7175.8
184.1199.5206.6215.7
203.9208.0220.9228.7
Non-dur-able
goods
22.015.217.0
16.818.414.318.519.719.122.221.524.524.4
29.528.928.930.930.333.536.839.041.345.3
45.847.954.055.057.461.465.265.074.079.084.191.8
106.4129.4122.5115.5140.8160.1160.4162.2137.5132.6124.2132.0150.6147.5120.2117.1133.9125.6110.5131.6145.1140.8
144.3151.9150.8155.3135.0148.9150.6155.6
Services
Total
8.04.96.1
6.28.8
15.823.024.628.212.010.613.113.0
13.617.121.425.125.428.630.031.834.633.8
34.934.335.535.436.537.743.047.549.655.257.452.753.955.656.652.956.157.765.375.378.484.786.186.4
103.8102.486.090.786.381.679.184.690.591.4
94.8105.6108.2106.5
101.6102.5101.8103.7
Factorin-
come *
2.61.32.2
2.01.91.71.92.12.51.92.12.32.6
2.83.12.93.13.33.63.43.43.74.0
4.64.84.65.15.66.27.07.58.6
12.0
12.59.8
10.213.917.716.316.716.121.130.835.941.140.537.448.944.141.444.740.835.133.536.239.840.143.651.652.048.5
43.544.643.744.9
Other
5.43.64.04.16.9
14.221.222.525.710.18.5
10.810.4
10.814.018,421.922.125.026.628.430.929.8
30.329.630.930.330.931.636.040.041.043.2
45.042.943.741.738.936.639.341.644.244.542.443.645.749.054.958.344.646.045.546.545.648.550.751.2
51.354.056.258.0
58.157.958.158.9
1 Factor income exports less factor income imports equals rest-of-the-world product.
Source-. Department of Commerce, Bureau of Economic Analysis.
275
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-21.—Relation of gross national product, net national product, and national income, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarterGross
nationalproduct
Less-.Capital
consump-tion
allowanceswith
capitalconsump-
tionadjustment
Equals:Net
nationalproduct
Less:
Indirectbusinesstax andnontaxliability
Busi-ness
transferpay-
ments
Statis-tical
discrep-ancy
Plus.-Subsidies
lesscurrentsurplus
ofgovern-mententer-prises
Equals:Nationalincome
1929 103.91933 56.01939 91.31940 100.41941 125.51942 159.01943 192.71944 211.41945 213.41946 212.41947 235.21948 261.61949 260.41950 288.31951 333.41952 351.61953 371.61954 372.51955 405.91956 428.21957 451.01958 456.81959 495.81960 515.31961 533.81962 574.61963 606.91964 649.81965 705.11966 772.01967 816.41968 892.71969 963.91970 1,015.51971 1,102.71972 1,212.81973 1,359.31974 1,472.81975 1,598.41976 1,782.81977 1,990.51978 2,249.71979 2,508.21980 2,732.01981 3,052.61982 3,166.01983 3,401.61984 3,774.71985" 3,992.51982:1 3,112.6
II 3,159.5III 3,179.4IV 3,212.5
1983:1 3,268.7II 3,365.1III 3,437.5IV 3,535.0
1984:1 3,676.5II 3,757.5III 3,812.2IV 3,852.5
1985:1 3,917.5II 3,960.6III 4,016.9IV 4,075.1
9.97.69.09.410.311.311.612.012.414.217.620.422.023.627.229.230.932.534.438.141.142.844.646.447.849.451.453.957.462.167.473.981.488.897.5107.9118.1137.5161.8179.2201.5229.9265.8303.8347.8383.2399.6418.9438.2373.3379.8386.3393.2394.5396.1403.3404.4409.1416.4422.5427.7430.5433.8441.4447.3
94.048.482.3
91.1115.3147.7181.1199.4201.0198.2217.6241.2238.4
264.6306.2322.5340.7340.0371.5390.1409.9414.0451.2
468.9486.1525.2555.5595.9647.7709.9749.0818.7882.5
926.61,005.11,104.81,241.21,335.41,436.61,603.61,789.02,019.82,242.4
2,428.12,704.82,782.83,002.03,355.83,554.3
2,739.32,779.62,793.12,819.3
2,874.12,969.03,034.23,130.6
3,267.43,341.13,389.73,424.8
3,487.03,526.83,575.53,627.8
7.17.19.4
10.111.311.812.814.215.517.118.420.121.3
23.425.327.729.729.632.235.037.438.641.7
45.348.051.554.658.762.565.270.178.786.3
94.0103.4111.1120.8129.0140.0151.7165.7178.1189.4
213.3251.5258.8282.5310.6328.5
254.5256.2260.1264.5
267.0281.1288.3293.7
302.4308.8314.0317.4
321.3329.8329.8333.0
0.6.7.5.4.5.5
'.5
'.5.6.7
.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
12.112.414.315.617.319.3
13.414.114.615.2
15.315.515.716.1
16.517.117.618.1
18.619.119.620.1
1.51.21.7
1.4.7
-.7-1.7
2.74.0
.71.8
-1.3
2.71.82.62.71.8
-1.9-1.2-.1
-1.5
-2.8-1.2
.0-.6
-1.4-1.2
2.1-.4
-1.1-3.9
-1.11.8
-1.6-4.3-1.7
2.53.6
.0-1.9-1.0
4.94.1
1.5.7
4.81.03.26.8
1.44.3
-4.3-1.2
2.8-1.9
.8-7.6
2.5-4.7
2.5
-0.2.0.4
.4
.1
.1
16.7.9
-.2-.1-.3
.1-.1-.3-.5
~'.0.7.1
1.1.1
.41.71.81.11.71.62.51.61.41.9
2.92.63.73.51.22.41.03.03.93.5
5.76.78.7
13.910.19.9
6.95.66.7
15.4
10.310.813.021.5
22.04.06.97.4
10.79.54.4
14.9
84.739.471.2
79.6102.8136.2169.7182.6181.6180.7196.6221.5215.2
239.8277.3291.6306.6306.3336.3356.3372.8375.0409.2
424.9439.0473.3500.3537.6585.2642.0677.7739.1798.1
832.6898.1994.1
1,122.71,203.51,289.11,441.41,617.81,838.22,047.3
2,203.52,443.52,518.42,718.33,039.33,215.6
2,483.12,514.02,528.42,548.2
2,603.62,678.92,747.42,843.5
2,967.73,021.13,064.23,104.4
3,155.33,192.23,228.0
Source: Department of Commerce, Bureau of Economic Analysis.
276
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B~22.—Relation of national income and personal income, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
19291933 . .193919401941194219431944194519461947 .194819491950195119521953 . .195419551956195719581959196019611962 . .1963196419651966196719681969 .19701971197219731974197519761977.....19781979198019811982198319841985 "1982: I
||HIIV
1983: IIII I IIV. .
1984: 1III l lIV
1985: IHI I IIV P
Nationalincome
84.739.471.279.6
1028136.2169.71826181.6180.71966221.521522398277.329163066306.33363356.3372.83750409.2424.94390473350035376585264206777739.17981832689819941
1,1227120351,289.1144141,617.81,838 2204732,203.524435251842,718.33,039 3321562,483.1251402,528.4254822,603.626789274742,843.52,967.73,021.13,064.23,104.43,155.33 19223,228.0
Corporateprofits
withinventoryvaluation
andcapital
consump-tion
adjust-ments
9.6-1.5
5.58.8
14319724.024219717.222930.328034939937537736.647145745.340351.449550358363670781386684190.787474787 1
10071133101 711761452174.81972200 1177218801500213.827332990149.91496154.31461173.4205922842476268.0277.82712276.2281.7288 1309.1
Le
Netinterest
4.7413.63.333312.7232.21.8232.426303539445.258657.895
10.211312914616318220924327429834641246351059675 583'8888
105312631583200924812723273.630022877273.02802269.12669268.526942764280.3286.9297.6309.5307.0302.92924281.82737
SS:
Contribu-tions for
socialinsurance
0.3.3
2.22,428354.6526.37.7676.06674889396
10.612013515.515918.821.922925428.530131640645550.4579622689790976
110 511851345149.817171978216525122696290.832523549265.22687271.32730284.128832924298.5318.6323.2327.4331.7348.03529356.4362.3
Wageaccruals
lessdisburse-
ments
0.0.0.0.000.2
_ 2.0.00.000.10
_ 1.00.0.00.0.000.000oo0oo60
_ 1511.13201o
_.422
-.10.00.0
13_ 4
.0
.2
.2
.0
.6
.110.0.0
Govern-ment
transferpayments
topersons
0.91.52.52.7262.72.5315.6
10.811210.611714411612213115316417520.324725727.531532634536039143652360.6675818970
10841241147 418572028217.523482628312635573962426.643744652374.73864403.74202422.342964256428.8433.8436.4438.4441.1459.04619468.6471.3
Pli
Persona!interestincome
6.95.55.35.3535.25.15.25,86.67.58.08796
10.411212.413.714916618.720322.324.926328.932.235539.644248253.260969.374780893.3
111912251341155.418252215271.9335.43697385.744224565367.53770368.0366.2371.13772392.1402.6417.2433.6456.8461.3462.84605450.6452.1
JS:
Personaldividendincome
5.82 03.84.0444.34.44.64.65.66.37.07 2888.5858.89.1
10311.111.511.312,212.913314.415.517319.119420.221.922422222624126.628928733838.243048152.961363968.074678963.663163.665.466.566968.370.272.174.175.376.977.978779.179.8
Businesstransfer
payments
0.67.5.455.55.5.56.788.9
10121.1121.41.51.61.82.02 02.12.42 72.8303.13.43.94.1444.95.5587.4798.69.3
10312.112.414315.617319313.414114.615.215.315515.716.116.517.117.618.118.619119.620.1
Equals:
Personalincome
84.346.372.177.695.2
122.4150.7164.5170.0177.6190.2209.22064228.1256.52738290.5293.03142337.2356.3367.1390.7409.4426.0453.2476.3510.2552.0600.8644.5707.2772.9831.8894.0981.6
1,101.71 21011313.41 451.41,607.51,812.42 034.02,258.52,520.92 670.82,836.43,111.93 294.22,614.32,655.92,683.62,729.22,752.82,805.72,852.42,934.83,033.83,083.53,144.23,186.23,240.9328013,298.53,357.4
Source: Department of Commerce, Bureau of Economic Analysis.
277
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-23.—National income by type of income, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939194019411942194319441945194619471948194919501951 .. .1952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985"1982:1
I II l lIV
1983- 1I II l lIV
1984:1III l lIV
1985- 1I II l lIV "
Nationalincome1
84.739.471.279.6
102.8136.2169.7182.6181.6180.7196.6221.5215.2239.8277.3291.6306.6306.3336.3356.3372.8375.0409.2424.9439.0473.3500.3537.6585.2642.0677.7739.1798.1832.6898.1994.1
1,122.71,203.51,289.11,441.41,617.81,838.22,047.3220352,443.52,518.42,718.33,039.33,215.62,483.12,514.02,528.42,548.22,603.62,678.92,747.42,843.52,967.73,021.13,064.23,104.43,155.33,192.23,228.0
Compensationof employees
Total
51.129.648.252.264.885.3
109.6121.3123.3119.6130.1142.1142.0155.4181.6196.3210.4209.4225.9244.7257.8259.8281.2296.7305.6327.4345.5371.0399.8443.0475.5524.7578.4618.3659.4726.2812.8891.3948.7
1,057.91,176.61,329.21,491.41,638.21,807.41,907.02,025.92,221.32,372.71,879.21,899.31,918.41,931.11,962.42,001.52,041.82,097.62,160.92,204.82,241.22,278.52,320.42,356.92,385.22,428.1
Wagesand
salaries
50.529.046.049.962.182.1
105.8116.7117.5112.0123.1135.5134.7147.2171.6185.6199.0197.2212.1229.0239.9241.3259.8272.8280.5299.3314.8337.7363.7400.3428.9471.9518.3551.5584.5638.7708.6772.2814.7899.6994.0
1,119.61,251.91,372.01,510.41,586.11,675.41,835.21,960.51,566.11,580.11,594.61,603.71,623.71,654.41,687.61,735.81,782.41,821.01,852.81,884.41,917.71,947.61,970.12,006.5
Supple-ments
towages
andsal-
aries2
0.7.6
2.22.32.83.23.84.55.87.67.06.57.38.2
10.010.711.512.113.815.717.818.521.423.825.128.130.733.236.142.746.652.860.166.874.987.6
104.2119.1134.0158.3182.6209.7239.5266.3297.1320.9350.5386.2412.2313.1319.2323.8327.4338.8347.1354.3361.8378.5383.8388.4394.0402.7409.4415.1421.6
Proprietors' income with inventory valuation and capital consumptionadjustments
Total
14.45.4
11.412.617.123.928.830.031.536.335.540.435.938.844.044.443.443.545.446.948.851.551.752.154.356.657.760.565.169.671.175.479.380.286.898.3
119.0118.8125.4137.7152.9176.2191.9180.7186.8175.5192.3233.7242.4166.2173.0174.6188.3185.9187.3188.8207.1240.3229.1232.3232.9239.4240.9237.5251.6
Farm
Total
6.12.54.44.46.4
10.112.011.912.414.815.117.512.813.616.015.013.012.411.311.111.013.110.811.612.012.111.910.713.014.012.712.814.614.715.519.433.727.525.420.620.527.031.720.530.724.614.332.121.023.323.622.928.518.711.86.6
20.044.429.427.826.626.522.812.222.5
Propri-etors'
in-come3
6.32.54.54.56.5
10.312.212.212.615.215.618.213.514.316.815.913.913.212.112.011.914.011.712.412.812.912.611.413.714.813.613.715.816.016.821.135.630.129.024.625.132.438.028.139.433.923.741.329.732.632.932.238.028.221.316.029.353.638.737.235.835.431.620.930.9
Capitalcon-
sump-tion
adjust-ment
-0.2.0
-.1-.1-.2-.2-.2-.3-.3-.4-.5-.7-.7-.7-.8-.9-.9-.8-.8_ g-i9-.9-.9-.8-.8-.8_ 7_ 7->-.8-.8-.9
-1.1-1.3-1.3-1.7-1.9-2.6-3.6-4.0-4.6-5.3-6.3-7.6-8.7-9.3-9.4-9.3-8.7-9.3-9.3-9.3-9.4-9.4-9.5-9.5-9.3-9.2-9.3-9.3-9.2-8.9-8.8-8.7-8.4
Nonfarm
Total
8.32.97.18.2
10.813.816.818.119.121.520.422.923.125.228.029.430.431.134.035.837.838.540.940.542.344.445.749.852.155.558.462.664.765.471.479.085.391.3
100.0117.1132.4149.2160.1160.1156.1150.9178.0201.6221.3143.0149.4151.7159.8167.2175.5182.3187.1195.9199.7204.5206.3212.9218.1225.3229.1
Propri-etors'
in-come4
8.83.97.68.6
11.714.417.118.319.323.321.823.122.225.727.728.529.830.433.535.437.237.740.139.741.743.845.149.151.855.558.463.165.166.072.379.687.295.3
102.2119.6135.1152.8164.0164.3155.2148.5167.7183.6193.5140.2147.4149.5156.9160.8165.7170.9173.3180.9182.5185.6185.4188.3190.3195.3199.9
Inven-tory
valua-tion
adjust-ment
0.1_ 5-2
.0-.6-.4_ 2-.1-.1
-1.7-1.5_ 4
^5-1.1-.3
.2— 2
.0-.2-.5-.3-.1
.0
.0
.0
.0
.0-.1-.2-.2-.2-.4-.5-.5-.6-.7
-2.0-3.8-1.2-1.3-1.3-2.3-2.9-2.9-1.4-.5-.9-.5— .3-.4-.6-.4-.6-.6-.9
-1.3-.8
-1.3-.3-.1-.2-.3-.2
.4-1.1
Capitalcon-
sump-tion
adjust-ment
-0.6-.5-.4-.3-.3-.3-.2_ \-'.I-.1
.1
.2
.5
.6
.6
.7
.7
.8
.7
.9
.9
.9
.9
.8
.6
.6
.7
.7
.4
'.2-.1
.1
.0-.3
!l-.3
-1.0-1.3-1.4-1.4-1.0-1.2
2.32.9
11.218.528.2
3.22.52.53.57.0
10.612.714.616.317.519.021.224.927.929.630.4
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-21.
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.
278
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-23.—National income by type of income, 1929-85—Continued
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1929193319391940194119421943194419451946194719481949195019511952195319541955 .. . .195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985 "1982- 1
III l lIV
1983- 1IIHIIV.. ..
1984:1||I I IIV
1985- 1III l lIV P
Rental income of personswith capital consumption
adjustment
Total
4.92.02.62.73.24.14.64.85.05.85.86.46.77.78.39.4
10.711.612.012.413.113.914.615.315.816.517.117.318.118.619.618.418.418.218.617.918.016.113.511.98.29.35.66.6
13.313.612.810.814.014.811.912.015.813.314.811.911.011.611.910.09.7
11.013.814.516.5
Rentalincome
ofpersons
5.62.13.23.34.05.15.76.16.57.58.29.19.4
10.511.512.713.914.915.315.916.517.318.018.719.119.820.320.521.322.223.522.924.224.625.926.528.128.928.628.928.834.235.741.452.254.454.454.057.455.852.752.856.555.155.954.152.753.355.153.753.854.356.658.160.4
Capitalcon-
sumptionadjust-ment
07-.1-.5
6-.8-.9
-1.1-1.3-1.5-1.7-2.4
2 7-2.7-2.8-3.2-3.3-3.3
32-3^3-3.5-3.5-3.4
3434
-3.3-3.3-3.2-3.2
33-3.6
39-4.5
5864
-7.486
-10.1-12.7
150-17.0-20.6
249-30.1
348-38.9-40.8
417-43.2-43.4
41 1-40.7-40.7
407-41.8-41.1-42.2-41.7-41.7-43.2-43.7-44.1-43.4-42.8-43.7-43.9
Corporate profits with inventory valuation and capital consumption adjustments
Total
9.6-1.5
5.58.8
14.319.724.024.219.717.222.930.328.034.939.937.537.736.647.145.745.340.351.449.550.358.363.670.781.386.684.190.787.474.787.1
100.7113.3101.7117.6145.2174.8197.2200.1177.2188.0150.0213.8273.3299.0149.9149.6154.3146 1173.4205.9228.4247.6268.0277.8271.2276.2281.7288.1309.1
Profits with inventory valuation adjustment and withoutcapital consumption adjustment
Total
10.5-1.2
6.59.8
15.420.524.524.019.319.625.933.431.137.943.340.640.238.447.546.946.641.652.349.850.155.259.866.276.281.278.685.481.469.582.794.9
107.199.4
123.9155.3183.8208.2214.1194.0202.3159.2195.0232.3227.2164.0160.7161.61507163.7190.5207.3218.7234.4241.8226.5226.3220.6220.9233.2
Profits
Profitsbefore
tax
10.01.07.2
10.017.921.725.324.219.824.831.835.629.242.944.539.641.238.749.249.648.141.952.649.949.855.159.866.777.483.380.189.187.276.087.3
101.5127.2138.9134.8170.3200.4233.5257.2237.1226.5169.6205.0237.6227.6171.7171.0171.6164 1167.1199.8225.4227.6247.4247.4227.7228.0220.0218.7228.6
Profitstax
liability
1.4.5
1.42.87.6
11.414.112.910.79.1
11.312.410.217.922.619.420.317.622.022.021.419.023.622.722.824.026.228.030.933.732.739.439.734.437.741.949.351.850.964.273,083.588.084.881.163.175.293.685.764.264.064.359858.973.884.184.099.1
100.687.487.483.482.387.4
Profits after tax
Total
8.6.4
5.77.2
10.310.311.211.39.1
15.720.523.219.025.021.920.220.921.127.227.626.722.928.927.227.131.233.538.746.549.647.549.747.541.749.659.677.987.183.9
106.0127.4150.0169.2152.3145.4106.5129.8144.0141.9107.51070107.31043108.2126.0141.3143.6148.3146.7140.3140.6136.6136.4141.1
Divi-dends
5.82.03.84.04.44.34.44.64.65.66.37.07.28.88.58.58.89.1
10.311.111.511.312.212.913.314.415.517.319.119.420.222.022.522.522.924.427.029.729.634.639.544.750.154.763.666.970.878.183.566.466066.668569.369.671.173.175.377.578.980.782.083.183.9850
Undis-tributedprofits
2.8-1.6
2.03.25.86.06.76.74.5
10.214.216.211.816.213.411.812.111.916.916.615.211.616.714.313.716.818.021.427.430.227.327.725.019.226.635.250.857.354.371.487.9
105.2119.197.681.839.659.065.958.341.140940.735838.956.470.370.673.169.261.360.054.653.357.3
Inven-toryvalu-ation
adjust-ment
0.5-2.1_ 7
-.225
-1.2-.8-.3-.653
-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
12-2.1-1.6-3.7-5.9
66-4.6
66-20.0-39.5-11.0-14.9-16.6-25.3-43.2
43 i-24.2-10.4-10.0-5.4-.4
-7.7-103
10013434
-9.3-18.1-8.9
-13.056
-1.3-1.6
.72.24.7
-9.0
Capitalcon-
sumptionadjust-ment
09-.3
-1.0-1.1-1.1-.8-.5
.2
.4-2.4-2.9-3.2-3.0-3.0-3.4-3.2-2.5
1 8-.4
-1.2-1.3-1.3-.8
3.2
3.13.84.55.25.45.55.36.15.24.35.86.22.3
-6.2-10.1-9.0109
-14.0168
-14.4-9.218.841.071.8
-14.1-11.1-7.3
459.7
15.521.028.933.536.044.849.861.167.275.983.2
Netinterest
4.74.13.63.33.33.12.72.32.21.82.32.42.63.03.53.94.45.25.86.57.89.5
10.211.312.914.616.318.220.924.327.429.834.641.246.351.059.675.583.888.8
105.3126.3158.3200.9248.1272.3273.6300.2287.7273.0280.2269.12669268.5269.4276.4280.3286.9297.6309.5307.0302.9292.4281.8273.7
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.
279
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-24.—Sources of personal income, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
19291933.1939
19401941.19421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973 .197419751976197719781979
19801981 . .1982198319841985"
1982- 1 .I II l lIV
1983: 1I I . . .I l lIV
1984- 1||I I IIV
1985: 1III I II V "
Personalincome
84.346.372.1
77.695.2
122.4150.7164.5170.0177.6190.2209.2206.4
228.1256.5273.8290.5293.0314.2337.2356.3367.1390.7
409.4426.0453.2476.3510.2552.0600.8644.5707.2772.9
831.8894.0981.6
1,101.71,210.11,313.41,451.41,607.51,812.42,034.0
2,258.52,520.92,670.82,836.43,111.93,294.2
2,614.32,655.92,683.62,729.2
2,752.82,805.72,852.42,934.8
3,033.83,083.53,144.23,186.2
3,240.93,280.13,298.53,357.4
Wage and salary disbursements *
Total
50.529.046.0
49.962.182.1
105.6116.9117.5112.0123.1135.5134.8
147.2171.5185.6199.0197.2212.1229.0239.9241.3259.8
272.8280.5299.3314.8337.7363.7400.3428.9471.9518.3
551.5583.9638.7708.7772.6814.6899.5993.9
1,119.31,252.1
1,372.01,510.31,586.11,675.81,834.91,960.7
1,566.31,580.01,594.61,603.6
1,623.71,655.71,688.01,735.8
1,782.21,820.81,852.91,883.9
1,917.61,948.61,970.12,006.5
Commodity-producingindustries
Total
21.59.8
17.4
19.727.539.149.050.445.946.054.261.157.8
64.876.482.189.885.893.3
100.8104.4100.3109.9
113.4114.0122.2127.4136.0146.6161.6169.0184.1200.4
203.7209.1228.2255.9276.5277.1309.7346.1392.3441.4
470.7512.2511.7523.0577.9607.2
519.3515.8509.8501.8
505.4513.8528.0544.9
562.9574.3583.2591.2
600.1604.7607.6616.3
Manu-facturing
16.17.8
13.6
15.621.730.940.942.938.236.542.547.144.6
50.359.464.271.367.673.979.582.578.786.9
89.889.996.8
100.7107.3115.7128.2134.3146.0157.7
158.4160.5175.6196.6211.8211.6238.0266.7300.1334.8
355.6386.7384.0397.4438.9457.5
389.2386.5383.0377.4
381.7390.9401.8415.1
427.8436.3442.6449.0
453.5454.9457.2464.4
Distrib-utiveindus-tries
15.68.8
13.3
14.216.318.020.122.724.831.035.237.537.7
39.944.447.049.950.353.658.060.761.165.1
68.669.673.376.882.087.995.1
101.6110.8121.7
131.2140.4153.3170.3186.8198.1219.5242.7274.6307.8
335.5366.8384.2404.2441.6468.8
378.5382.5386.4389.3
391.4400.3405.6419.5
428.2439.1446.1453.0
459.8467.4471.2476.8
Serviceindus-tries
8.45.27.1
7.58.19.09.9
10.911.914.316.117.918.5
19.921.623.225.026.228.731.533.835.938.8
41.744.447.650.754.959.465.372.080.490.6
99.4107.9119.7133.9148.6163.4181.6202.8232.9266.8
305.6346.9384.4424.4469.4513.9
369.8378.5390.7398.5
408.9419.0428.0441.9
453.2464.3474.4485.5
495.2508.1518.7533.6
Govern-mentand
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
117.1126.5137.4148.7160.9176.0188.6202.3219.4236.1
260.2284.4305.9324.2346.1370.8
298.7303.2307.7314.0
318.1322.7326.5329.6
337.8343.2349.2354.1
362.5368.4372.6379.7
Otherlabor
income »
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
32.536.743.049.256.565.979.394.1
107.7122.7
138.4150.3163.6179.5193.4206.4
158.6162.3165.6168.0
171.8177.5182.3186.3
189.7192.2194.4197.2
200.9204.8208.4211.5
Proprietors' incomewith inventoryvaluation and
capitalconsumptionadjustments
Farm
6.12.54.4
4.46.4
10.112.011.912.414.815.117.512.8
13.616.015.013.012.411.311.111.013.110.8
11.612.012.111.910.713.014.012.712.814.6
14.715.519.433.727.525.420.620.527.031.7
20.530.724.614.332.121.0
23.323.622.928.5
18.711.86.6
20.0
44.429.427.826.6
26.522.812.222.5
Nonfarm
8.32.97.1
8.210.813.816.818.119.121.520.422.923.1
25.228.029.430.431.134.035.837.838.540.9
40.542.344.445.749.852.155.558.462.664.7
65.471.479.085.391.3
100.0117.1132.4149.2160.1
160.1156.1150.9178.0201.6221.3
143.0149.4151.7159.8
167.2175.5182.3187.1
195.9199.7204.5206.3
212.9218.1225.3229.1
1 The total of wage and salary disbursements arid other labor income differs from compensation of employees in Table B-23 in that itexcludes employer contributions for social insurance and the excess of wage accruals over wage disbursements.
See next page for continuation of table.
280
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-24.—Sources of personal income, 1929-85—Continued
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
19291933193919401941194219431944194519461947194819491950195119521953 .1954195519561957195819591960 ~19611962196319641965196619671968196919701971197219731974 . .19751976 . .1977197819791980198119821983. . .19841985"1982- 1
III l lIV
1983: IIII l lIV
1984: 1 ,..III I IIV
1985- 1IIIllIV "
Rentalincome
ofpersons
withcapital
con-sumption
adjust-ment
4.92.02.62.73.24.14.64.85.05.85.86.46.77.78.39.4
10.711.612.012.413.113.914.615.315.816.517.117.318.118.619.618.418.418.218.617.918.016.113.511.98.29.35.66.6
13.313.612.810.814.014.811.912.015.813.314.811.911.011.611.910.09.7
11.013.814.516.5
Personaldividendincome
5.82.03.84.04.44.34.44.64.65.66.37.07.28.88.58.58.89.1
10.311.111.511.312.212.913.314.415.517.319.119.420.221.922.422.222.624.126.628.928.733.838.243.048.152.961.363.968.074.678.963.663.163.665.466.566.968.370.272.174.175.376.977.978.779.179.8
Personalinterestincome
6.95.55.35.35.35.25.15.25.86.67.58.08.79.6
10.411.212.413.714.916.618.720.322.324.926.328.932.235.539.644.248.253.260.969.374.780.893.3
111.9122.5134.1155.4182.5221.5271.9335.4369.7385.7442.2456.5367.5377.0368.0366.2371.1377.2392.1402.6417.2433.6456.8461.3462.8460.5450.6452.1
Transfer payments
Total
1.52.13.03.13.13.13.03.66.2
11.311.711.312.515.212.613.314.316.317.718.921.826.327.429.533.534.736.938.741.946.655.564.071.485.9
101.5113.3129.6153.2193.1210.7226.1244.0273.1324.7368.1410.6442.2454.7484.5388.1400.4418.3435.4437.6445.0441.3444.9450.4453.5456.0459.2477.6481.0488.1491.4
Old-age,survivors,disability,
andhealthinsur-ance
benefits
0.0.0.1.1.2.2.3.4
'.B.1
1.01.92.23.03.64.95.77.38.5
10.211.112.614.315.216.018.120.825.530.232.938.544.549.660.470.181.492.9
104.9116.2131.8154.2182.0204.5221.7235.7253.4195.2197.3209.0216.6217.4220.2222.0227.0231.3233.7236.0241.8249.2250.7256.5257.3
Govern-ment
unem-ployment
insur-ance
benefits
0.4.5.4.4.1.1.4
1.1.8.9
1.91.5.9
1.11.02.21.51.51.94.12.83.04.33.13.02.72.31.92.22.12.24.05.85.74.46.8
17.615.812.79.79.8
16.115.925.226.315.815.519.223.826.031.830.231.823.219.917.415.615.015.416.615.814.814.8
Veteransbenefits
06.6
.5
.5
.5
.51.03.07.07.05.95.37.74.64.34.14.24.44.44.54.74.64.65.04.74.84.74.94.95.65.96.77.78.89.7
10.411.814.514.413.813.914.415.016.116.416.616.416.816.316.216.316.616.816.616.616.516.416516.516.316.917.016.716.6
Govern-ment
employ-ees
retire-ment
benefits
01.2.3.3.3.3.4.4.5.7.7.7.9
1.01.11.21.41.51.71.92.22.52.83.13.43.74.24.75.26.16.97.68.7
10.211.813.816.019.022.726.129.032.736.943.049.454.658.760.866.651.754.855.656.156.758.459.560.261.161.862.557.765.366.267.068.0
Aid tofamilies
withdepend-
entchildren(AFDC)
0.3.4.5.6.6.5.5.6.6.6.7.8.9
1.01.11.31.41.51.71.92.32.83.54.86.26.97.27.99.2
10.110.610.711.012.413.013.314.214.915.413.213.213.313.614.014.214.314.415.015.114.614.815.115.315.515.6
Other
0.81.41.71.71.81.81.82.02.02.12.52.93.33.53.63.94.24.24.54.85.25.76.26.77.17.68.39.19.8
11.213.015.317.320.724.527.631.237.547.651.555.160.969.184.091.896.5
104.7111.1116.892.495.098.1
100.6102.3103.8105.8106.8109.1110.7111.3113.2114.5116.1117.6119.0
Less:Personalcontribu-tions for
socialinsurance
0.12.6.7.8
1.21.82.22.32.02.12.22.22.93.43.84.04.65.25.86.76.97.99.39.7
10.311.812.613.317.820.622.926.227.930.734.542.647.950.455.561.269.881.088.6
104.5112.3119.8132.4149.1110.8111.8113.1113.5117.1118.7120.4123.0129.7131.7133.4134.9146.3148.3149.7152.1
Nonfarmpersonalincome2
172.0188.3190.6211.2237.1255.4274.2277.5299.6322.8341.9350.4376.2393.9409.9436.7460.0494.9534.0581.5626.3688.7752.1810.4871.8955.0
1,059.71,172.61,276.91,417.91,572.61,769.31,983.22,215.82,465.62,618.72,795.33,053.33,247.12,564.32,604.82,632.82,672.82,706.72,767.02,819.22,888.32,962.93,027.63,089.83,132.73,188.13,231.03,260.43,308.9
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.
281
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-25.—Disposition of personal income, 1929-85
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939.
1940194119421943.. .19441945194619471948.1949
19501951195219531954195519561957.19581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979.
19801981.. . .1982198319841985 "
1982: 1I IHiIV
1983- 1I II l lIV
1984: 1I II l lIV
1985: IilI l lI V "
Personalincome
84.346.372.1
77.695.2
122.4150.7164.5170.0177.6190.2209.2206.4
228.1256.5273.8290.5293.0314.2337.2356.3367.1390.7
409.4426.0453.2476.3510.2552.0600.8644.5707.2772.9
831.8894.0981.6
1,101.71,210.11,313.41,451.41,607.51,812.42,034.0
2,258.52,520.92,670.82,836.43,111.93,294.2
2,614.32,655.92,683.62,729.2
2,752.82,805.72,852.42,934.8
3,033.83,083.53,144.23,186.2
3,240.93,280.13,298.53,357.4
Less:Personaltax andnontax
payments
2.61.42.4
2.63.35.9
17.818.920.818.721.421.018.5
20.628.934.035.532.535.439.742.442.246.1
50.552.257.060.558.865.274.982.497.7
116.3
116.2117.3142.0152.0171.8170.6198.7228.1261.1304.7
340.5393.3409.3411.1441.8493.1
407.1414.1405.0411.1
407.4418.0404.4414.4
423.6433.6447.5462.4
501.7462.4498.2510.1
Equals-.Dispos-
ablepersonalincome
81.744.969.7
75.091.9
116.4132.9145.6149.2158.9168.8188.1187.9
207.5227.6239.8255.1260.5278.8297.5313.9324.9344.6
358.9373.8396.2415.8451.4486.8525.9562.1609.6656.7
715.6776.8839.6949.8
1,038.41,142.81,252.61,379.31,551.21,729.3
1,918.02,127.62,261.42,425.42,670.22,801.1
2,207.22,241.82,278.62,318.1
2,345.52,387.72,447.92,520.4
2,610.22,649.92,696.72,723.8
2,739.22,817.72,800.22,847.2
Less: Personal outlays
Total
79.246.567.9
72.081.989.5
100.2109.0120.5145.3163.6177.0180.6
194.8211.0222.4236.7244.1262.8276.2291.2300.6322.8
338.1348.9370.2391.2419.9452.5489.9516.9567.1614.5
657.9710.5778.2860.8941.7
1,038.21,156.91,288.61,441.11,611.3
1,781.11,968.12,107.52,292.22,497.72,671.4
2,052.22,080.12,122.62,174.9
2,205.22,271.32,319.02,373.3
2,428.72,487.42,515.22,559.4
2,608.42,650.62,697.62,729.2
Personalcon-
sumptionexpendi-
tures
77.345.867.0
71.080.888.699.5
108.2119.6143.9161.9174.9178.3
192.1208.1219.1232.6239.8257.9270.6285.3294.6316.3
330.7341.1361.9381.7409.3440.7477.3503.6552.5597.9
640.0691.6757.6837.2916.5
1,012.81,129.31,257.21,403.51,566.8
1,732.61,915.12,050.72,229.32,423.02,581.9
1,996.32,023.82,065.62,117.0
2,146.02,210.12,254.92,306.3
2,358.62,414,42,439.02,480.1
2,525.02,563.32,606.12,633.3
Interestpaid by
consum-ers tobusi-ness
1.5.5.7
.8
.9
.7
.5
.5
.5
.71.01.41.7
2.32.52.93.63.84.45.15.55.66.1
7.07.37.88.89.9
11.112.012.513.815.6
16.717.719.522.324.124.426.630.536.743.5
47.452.055.561.873.387.4
54.655.055.856.8
58.360.263.065.9
68.671.775.177.8
81.285.489.393.8
Per-sonal
transferpay-
mentsto
for-eigners
(net)
0.3.2.2
.2
.2
.1
.2
.4
.5
.7
.7
.7
.5
.4
.4
.4
.5
.5
.4
.5
.5
.4
.4
.4
.5
.5
.6
.7
.7
.7
.9
.91.0
1.21.21.11.31.01.01.0.9.9
1.0
1.11.01.31.01.32.1
1.31.41.21.1
.91.01.11.2
1.41,21.21.5
2.11.82.22.1
Equals:Personalsaving
2.6-1.6
1.8
3.010.027.032.736.528.713.65.2
11.17.4
12.616.617.418.416.416.021.322.724.321.8
20.824.925.924.631.534.336.045.142.542.2
57.766.361.489.096.7
104.695.890.7
110.2118.1
136.9159.4153.9133.2172.5129.7
155.0161.7156.0143.1
140.3116.4129.0147.1
181.6162.6181.5164.5
130.9167.2102.6118.1
Percent of disposablepersonal income
Personal outlays
Total
96.8103.697.4
96.089.176.875.474.980.891.496.994.196.1
93.992.792.792.893.794.292.892.892.593.7
94.293.493.594.193.093.093.292.093.093.6
91.991.592.790.690.790.892.493.492.993.2
92.992.593.294.593.595.4
93.092.893.293.8
94.095.194.794.2
93.093.993.394.0
95.294.196.395.9
Personalconsump-
tionexpend-itures
94.5102.196.2
94.787.976.174.874.480.290.695.993.094.9
92.691.491.491.292.092.590.990.990.791.8
92.191.391.491.890.790.590.889.69U.69LO
89.489.090.288.288.388.690.291.190.590.6
90.390.090.791.990.792.2
90.490.390.791.3
91.592.692.191.5
90.491.190.491.1
92.291.093.192.5
Personalsaving
3.2-3.6
2.6
4.010.923.224.625.119.28.63.15.93.9
6.17.37.37.26.35.87.27.27.56.3
5.86.66.55.97.07.06.88.07.06.4
8.18.57.39.49.39.27.66.67.16.8
7.17.56.85.56.54.6
7.07.26.86.2
6.04.95.35.8
7.06.16.76.0
4.85.93.74.1
Source: Department of Commerce, Bureau of Economic Analysis.
282
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-26.—Total and per capita disposable personal income and personal consumption expenditures in
current and 1982 dollars, 1929-85
[Quarterly data at seasonally adjusted annual rates, except as noted]
Year or quarter
1929 . .1933193919401941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968 . .1969.....19701971197219731974197519761977197819791980198119821983 .19841985"1982- 1
IIIIIIV
1983: 1|| .IllIV
1984- 1IIIllIV
1985: 1IIIII.IV P
Disposable personal income
Total (billions ofdollars)
Currentdollars
81.744.969.775.091.9116.4132.9145.6149.2158.9168.8188.1187.9207.5227.6239.8255.1260.5278.8297.5313.9324.9344.6358.9373.8396.2415.8451.4486.8525.9562.1609.6656.7715.6776.8839.6949.8
1,038.41,142.81,252.61,379.31,551.21,729.31,918.02,127.62,261.42,425.42,670.22,801.12,207.22,241.82,278.62,318.12,345.52,387.72,447.92,520.42,610.22,649.92,696.72,723.82,739.22,817.72,800.22,847.2
1982dollars
498.6370.8499.5530.7604.1693.0721.4749.3739.5723.3694.8733.1733.2791.8819.0844.3880.0894.0944.5989.4
1,012.11,028.81,067.21,091.11,123.21,170.21,207.31,291.01,365.71,431.31,493.21,551.31,599.81,668.11,728.41,797.41,916.31,896.61,931.72,001.02,066.62,167.42,212.62,214.32,248.62,261.52,334.62,468.42,509.02,245.72,260.92,263.42,276.12,291.32,309.02,346.92,391.32,446.82,461.82,480.52,484.42,482.72,532.22,503.12,517.9
Per capita(dollars)
Currentdollars
671357532568689863972
1,0521,0661,1241,1711,2831,2601,3681,4751,5281,5991,6041,6871,7691,8331,8651,9461,9862,0342,1232,1972,3522,5052,6752,8283,0373,2393,4893,7404,0004,4814,8555,2915,7446,2626,9687,6828,4229,2479,73210,33911,27911,7279,5339,6619,7939,93710,03310,19210,42310,70611,06411,20911,37911,46511,50611,81411,71011,878
1982dollars
4,0912,9503,8124,0174,5285,1385,2765,4145,2855,1154,8205,0004,9155,2205,3085,3795,5155,5055,7145,8815,9095,9086,0276,0366,1136,2716,3786,7277,0277,2807,5137,7287,8918,1348,3228,5629,0428,8678,9449,1759,3819,7359,8299,7239,7739,7329,95210,42710,5049,7009,7439,7289,7589,8029,8569,99310,15710,37110,41310,46610,45710,42910,61710,46810,504
Personal consumption expenditures
Total (billions ofdollars)
Currentdollars
77.345.867.071.080.888.699.5108.2119.6143.9161.9174.9178.3192.1208.1219.1232.6239.8257.9270.6285.3294.6316.3330.7341.1361.9381.7409.3440.7477.3503.6552.5597.9640.0691.6757.6837.2916.5
1,012.81,129.31,257.21,403.51,566.81,732.61,915.12,050.72,229.32,423.02,581.91,996.32,023.82,065.62,117.02,146.02,210.12,254.92,306.32,358.62,414.42,439.02,480.12,525.02,563.32,606.12,633.3
1982dollars
471.4378.7480.5502.6531.1527.6539.9557.1592.7655.0666.6681.8695.4733.2748.7771.4802.5822.7873.8899.8919.7932.9979.4
1,005.11,025.21,069.01,108.41,170.61,236.41,298.91,337.71,405.91,456.71,492.01,538.81,621.91,689.61,674.01,711.91,803.91,883.81,961.02,004.42,000.42,024.22,050.72,145.92,239.92,312.62,031.22,041.02,051.82,078.72,096.42,137.22,161.82,188.12,210.92,243.02,243.42,262.02,288.62,303.52,329.62,328.7
Per capita(dollars)
Currentdollars
634365511538606657727782855
1,0181,1231,1931,1951,2671,3491,3961,4581,4771,5601,6081,6661,6921,7861,8291,8571,9402,0172,1332,2682,4282,5342,7522,9493,1213,3303,6093,9504,2854,6895,1785,7076,3046,9607,6088,3248,8259,50310,23510,8108,6238,7218,8789,0759,1809,4349,6019,7969,99710,21210,29110,43910,60610,74710,89810,986
1982dollars
3,8683,0133,6673,8043,9813,9123,9494,0264,2364,6324,6254,6504,6614,8344,8534,9155,0295,0665,2875,3495,3705,3575,5315,5615,5795,7295,8556,0996,3626,6076,7307,0037,1857,2757,4097,7267,9727,8267,9268,2728,5518,8088,9048,7848,7988,8259,1489,4629,6828,7738,7958,8198,9118,9689,1239,2059,2949,3719,4889,4669,5219,6139,6589,7429,715
Popula-tion(thou-sands) '
121,878125,690131,028132,122133,402134,860136,739138,397139,928141,389144,126146,631149,188151,684154,287156,954159,565162,391165.275168,221171,274174,141177,073180,760183,742186,590189,300191,927194,347196,599198,752200,745202,736205,089207,692209,924211,939213,898215,981218,086220,289222,629225,106227,732230,087232,376234,579236,731238,849231,520232,050232,667233,268233,772234,268234,850235,425235,924236,419236,998237,584238,065238,503239,126239,703
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 1959. Quarterly data are averages for the period.
Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census).
283
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-27.—Gross saving and investment, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
19291933193919401941194219431944194519461947 . .. .194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977 .19781979198019811982198319841985 " .1982: 1
||I I IIV
1983-. 1I IIllIV
1984: 1I II l lIV
1985: 1I II l lIV
Gross saving
Total
15.9.9
8.813.518.610.65.83.05.9
35.742.550.836552.558.752.351.051.668.477.377.164.580.584.282.691.498.7
108.5123.5130.3129.5139.7158.8154.7171.9200.7251.9247.9238.7283.0335.4408.6458.4445.0522.0446.4469.8584.5558.7471.6483.4443.1387.4430.0451.2478.5519.8590.5581.3592.8573.5578.3571.7537.3
Gross private saving
Total
14.92.2
11.014.222.442.050.054.945.430.328.142.439944.552.656.158.058.865.272.176.177.182.181.186.895.297.9
110.8123.0131.6143.8145.7148.9164.5190.6203.4244.0254.3303.6321.4354.5409.0445.8478.4550.5557.1600.6693.0697.7547.6561.1565.7554.2580.0575.0605.5642.0684.3678.6708.8700.3677.7723.6681.8
Per-sonalsav-ing
2.6-1.6
1.83.0
10.027.032.736.528.713.65.2
11.17 4
12.616.617.418.416.416.021.322.724.321.820.824.925.924.631.534.336.045.142.542.257.766.361.489.096.7
104.695.890.7
110.2118.1136.9159.4153.9133.2172.5129.7155.0161.7156.0143.1140.3116.4129.0147.1181.6162.6181.5164.5130.9167.2102.6118.1
Gross
nesssav-ing 1
12.33.89.2
11.212.415.017.318.416.816.723.031.332531.836.038.739.642.349.250.853.552.960.360.362.069.373.379.388.795.698.6
103.3106.7106.7124.3142.0155.0157.6198.9225.6263.8298.9327.7341.5391.1403.2467.4520.5568.0392.6399.4409.7411.1439.7458.6476.5495.0502.7516.0527.3535.8546.8556.4579.2
Governmeri( — ), na
prod
Total
1.0-1.4-2.2-.7
-3.8-31.4-44.2-51.8-39.5
5.414.48.4
-348.06.1
-3.8-7.0-7.1
3.15.2
.9-12.6-1.6
3.1-4.3-3.8
.7-2.3
.5-1.3
-14.2-6.0
9.9-10.6-19.5-3.4
7.9-4.3
-64.9-38.4-19.1
-.411.5
-34.5-29.7
-110.8-130.8-108.5-139.0-76.0-77.7
-122.5-166.8-150.0-123.8-127.0-122.2-93.8-97.3
-116.0-126.8
-99.4-151.9-144.5
t surplus or deficit:ional income anduct accounts
Federal
1.2-1.3-2.2-1.3-5.1
-33.1-46.6-54.5-42.1
3.513.48.3
-269.26.5
-3.7-7.1-6.0
4.46.12.3
-10.3-1.1
3.0-3.9-4.2
.3-3.3
.5-1.8
-13.2-6.0
8.4-12.4-22.0-16.8-5.6
-11.6-69.4-53.5-46.0-29.3-16.1-61.3-63.8
-145.9-179.4-172.9-197.3-109.2-112.9-158.8-202.6-187.9-170.6-179.7-179.5-157.8-163.0-178.1-192.7-162.6-209.1-201.3
Stateandlocal
-0.2-.1
.0
.61.31.82.42.72.61.91.0
.1_ 7
-1.2-.4
.0
.1-1.1-1.3-.9
-1.4-2.4-.4
.1-.4
.5
.51.0
.0
.5-1.1
.11.51.82.6
13.513.57.24.5
15.226.928.927.626.834.135.148.664.458.333.235.236.335.837.946.852.757.264.065.762.165.863.257.356.9
Capitalgrants
receivedby theUnitedStates(net) 2
0.9
'.7.0
4 -2.0.0.0.0.0
1.11.21.1.0.0.0.0.0.0.0.0.0.0.0.0.0.0.0.0.0.0.0.0
Gross investment
Total
17.41.7
10.615.019.510.24.15.8
10.036.444.349.637.353.261.454.253.654.370.275.475.964.579.081.481.391.598.1
107.1122.3132.4129.2138.6154.9153.6173.7199.1247.6246.2241.2286.6335.3406.7457.4449.9526.1446.3469.2583.0559.4466.8484.4439.9394.2428.5455.5474.2518.6593.3579.4593.6565.8580.8567.0539.9549.9
Grossprivate
domesticinvest-ment
16.71.69.5
13.418.310.36.27.7
11.331.535.047.136.555.160.553.554.954.169.772.771.163.680.278.277.187.693.199.6
116.2128.6125.7137.0153.2148.8172.5202.0238.8240.8219.6277.7344.1416.8454.8437.0515.5447.3501.9674.0670.4459.5467.8452.2409.6425.0483.7521.2577.6658.8673.3687.9676.2657.6672.8666.1685.2
Netforeigninvest-ment3
0.8.2
1.01.51.3-.1
-2.1-2.0-1.3
4.99.32.4
.9-1.8
.9
.6-1.3
.2
.42.84.8
.9-1.2
3.24.23.84.97.56.23.83.51.61.74.81.3
-2.98.85.4
21.69.0
-8.7-10.1
2.613.010.6
-1.0-32.7-91.0
-111.07.3
16.5-12.3-15.4
3.6-28.2-47.0-59.0-65.5-93.9-94.3
-110.4-76.8
-105.8-126.2-135.4
Statis-tical
discrep-ancy
1.51.21.71.4.7
-.7-1.7
2.74.0
.71.8
-1.3.8.8
2.71.82.62.71.8
-1.9-1.2-.1
-1.5-2.8-1.2
.0-.6
-1.4-1.2
2.1-.4
-1.1-3.9-1.1
1.8-1.6-4.3-1.7
2.53.6
.0-1.9-1.0
4.94.1-.1-.6
-1.5.7
-4.81.0
-3.26.8
-1.44.3
-4.3-1.2
2.8-1.9
.8-7.6
2.5-4.7
2.5
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.
284
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-28.—Saving by individuals, 1946-85 l
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1946194719481949
1950195119521953195419551956....!....195719581959
I96019611962196319641965196619671968'1969
1970197119721973197419751976197719781979
19801981198219831984
1983: 1II . . . .I I I . . .IV...
1984: 1II . . . .I I I . . .IV...
1985: 1II . . . .I I I . . .
Total
24620.124.320.9
30.634.731.332.528.234137236534.138.0
36.735.942.046.756.865.072.476980071.4
86.295.4
108.8133.4127.2151.7163.0166.5190.5197.2
235.1290.2293.5281.7370.5
307.2253.7260.5305.5
333.7358.0396.4394.0
317.8333.7319.3
Increase in financial assets
Total
18813.29.19.9
13.719.123.222.822.228030228631.637.4
32.135.440.146.655.758.857.569775065.0
81.3101.9131.1150.3147.2174.4210.3235.7274.2293.2
319.7356.2365.2437.2521.1
424.3414.3423.0487.3
450.7548.7527.9556.9
473.8501.9491.3
Check-able
depos-its
andcur-
rency
56.1
-?9-2.0
2.64.61.61.02.21 21.8
43.81.0
1.0— .9
-\24.25.37.62.499
11 1-2.5
8.912.313.714.17.36.9
15.719.922.521.5
10.231.816.943.329.3
62.673.013.424.1
37.735.94.8
38.8
6.972.3
119.6
Timol imeandsav-ingsde-
posits
633.4??2.6
2.44.77.88.19.18694
11913.911.0
12018.326.126.226.127.819.035331 19.1
43.667.774.262.651.184.2
106.2108.2102.1
74.4
126.566.7
119.2198.8216.8
252.3158.7199.8184.6
200.4233.3225.1208.5
177.5114.9
94.3
Moneymarket
fundshares
2.41.3.0.2
6.934.4
29.2107.5
24.7-44.1
47.2
-105.2-62.7-6.5-1.8
44.915.420.5
107.9
-12.120.4
-21.2
Securities
Govern-ment
securi-ties2
-151.61.31.8
-.1-.62.52.51.0583.923
-2.510.1
2.21.41.3
.64.83.7
11.31 252
25.9
-5.4-12.2
.722.125.617.78.3
17.029.545.7
23.841.835.184.4
117.6
63.1138.9
77.258.6
73.6166.4157.0
73.6
66.8120.2
93.2
Corpo-rateequi-ties3
1 11.11.0.7
.71.81.61.0.8
102.0151.5.5
-.6.3
-2.1-2.6-.2
-2.1-.7
-47-75-2.8
-1.7-5.5-5.4-6.2-.9
-4.7-5.0-4.0-5.4
-18.8
-8.3-29.7-5.7
6.0-41.6
2.9-1.9
-11.034.0
-29.0-55.4-40.6-41.2
-43.318.6
.3
Othersecuri-ties4
09-.8
.0-.4
-.7.3.0.3
_ g
'81.2101.1
-.3
2.4.1.1
1.4.4
1.32.45279
10.0
6.96.52.48.63.6.3
6.03.71.85.2
-11.8-11.2-4.6
-13.4-10.4
2.0-62.8-5.6
12.9
-18.4-10.0
1.2-14.6
124.6-53.8
10.2
Insur-anceand
pensionre-
serves 5
535.45.35.6
6.96.37.77.97.8859.595
10.411.9
11.512.112.713.916.116.919.218619.821.5
23.927.434.338.847.054.960.171.886.695.1
116.0118.2147.2144.2135.0
135.3147.7144.0149.9
124.7130.5128.3156.5
134.6181.3183.6
Otherfinan-
cialas-
sets6
282.42.21.6
1.91.92.02.12.1212.5283.53.3
3.64.33.22.93.23.74.066763.9
5.25.6
11.210.311.113.819.218.930.236.0
34.131.232.417.927.2
11.223.411.825.1
16.932.731.627.4
18.928.011.3
Net investment in 7
Owner-occu-pied
homes
366.79.18.4
11.811.711.312.312.716715613212.316.3
14.812.713.514.315.014.513.511715716.3
13.620.728.031.025.224.239.254.467.068.2
56.247.624.154.974.7
36.549.963.769.7
70.675.877.475.0
73.476.477.4
Con-sumerdura-bles
619.09.8
10.6
14.811.38.6
10.17.1
12285773.67.3
7.04.38.5
11.815.020.223.121 127026.3
20.026.634.640.428.426.540.049.656.752.5
32.839.135.561.585.2
44.860.265.175.9
83.089.481.486.9
91.391.9
105.5
Non-cor-
poratebusi-nessas-
sets8
231.86.91.8
6.84.52.31.01.92912272.65.0
3.64.77.59.89.2
13.310.810210012.7
11.517.520.626.610.65.0
.213.122.026.0
-.324.111.9
.322.1
1.7-1.9-6.9
8.5
28.917.421.720.2
16.616.910.7
Less: Net increase indebt
Mort-gagedebton
non-farm
homes
364.74.64.4
6.76.66.27.68.7
122112899.5
12.8
11.712.214.116.217.517.013.812516918.6
14.126.241.446.538.040.661.490.8
112.9123.0
95.474.449.5
110.1138.5
73.9100.9124.4141.1
132.7150.4134.5136.6
129.0141.3148.7
Con-sumercredit
313.73.23.2
4.81.65.34.21.5723929.5
8.0
4.42.56.38.99.8
10.66.557
11.510.8
5.414.719.824.39.99.6
25.440.248.845.4
4.722.720.159.896.5
34.254.057.193.8
78.8125.490.291.5
121.3112.1115.2
Otherdebt* *
-042.22.82.2
5.03.72.71.95.5643.2386.07.2
4.96.57.2
10.710.814.312.217619219.4
20.730.344.244.236.328.339.955.367.774.6
73.379.773.5
102.597.5
92.0114.0102.9101.0
87.997.587.4
117.0
87.1100.1101.6
1 Saving by households, personal trust funds, nonprofit institutions, farms, and other noncorporate business.2 Consists of U.S. savings bonds, other U.S. Treasury securities, U.S. Government agency securities and sponsored agency securities,
mortgage pool securities, and State and local obligations.3 Includes mutual fund shares.4 Corporate and foreign bonds and open market paper.5 Private life insurance reserves, private insured and noninsured pension reserves, and government insurance and pension reserves.6 Consists of security credit, mortgages, accident and health insurance reserves, and nonlife insurance claims for households and of
consumer credit, equity in sponsored agencies, and nonlife insurance claims for noncorporate business.7 Purchases of physical assets less depreciation.8 Includes data for corporate farms.9 Other debt consists of security credit, policy loans, and noncorporate business debt.
Source: Board of Governors of the Federal Reserve System.
285
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-29.—Number and median income (in 1984 dollars) of families and persons, and poverty status,
by race, selected years, 1960-84
Year
ALL RACES1960196119621963196419651966 3
19671968196919701971197219731974 3
1975197619771978 . . . .1979 4
19801981198219831984
WHITE19701971197219731974 3
19751976197719781979 4
19801981198219831984
BLACK19701971197219731974 3
19751976197719781979 4
19801981198219831984
Families '
Num-ber
(mil-lions)
45.546.447.147.548.048.549.250.150.851.652.253.354.455.155.756.256.757.257.859,660.361.061.462.062.7
46.547.648.548.949.449.950.150.550.952.252.753.353.453.954.4
4.95.25.35.45.55.65.85.85.96.26.36.46.56.76.8
Medianincome
$19,71119,91220,45221,20021,99822,90324,10724,68025,77226,72726,39426,37827,59928,16727,17526,47627,29327,44028,08528,02926,50025,56925,21625,72426,433
27,38127,37128,67429,43928,24127,53628,34928,69329,24429,24827,61126,85826,47526,93727,686
16,79616,51717,04216,99016,86316,94316,86316,39117,32116,56215,97615,15114,63315,18115,432
Below poverty level
Total
Num-ber
(mil-lions)
8.28.48.17.67.26.75.85.75.05.05.35.35.14.84.95.55.35.35.35.56.26.97.57.67.3
3.73.83.43.23.43.83.63.53.53.64.24.75.15.24.9
1.51.51.51.51.51.51.61.61.61.71.82.02.22.22.1
Rate
18.118.117.215.915.013.911.811.410.09.7
10.110.09.38.88.89.79.49.39.19.2
10.311.212.212.311.6
8.07.97.16.66.87.77.17.06.96.98.08.89.69.79.1
29.528.829.028.126.927.127.928.227.527.828.930.833.032.330.9
Femalehouseholder
Num-ber
(mil-lions)
2.02.02.02.01.81.91.71.81.81.82.02.12.22.22.32.42.52.62.72.63.03.33.43.63.5
1.11.21.11.21.31.41.41.41.41.41.61.81.81.91.9
.8
.91.01.01.01.01.11.21.21.21.31.41.51.51.5
Rate
42.442.142.940.436.438.433.133.332.332.732.533.932.732.232.132.533.031.731.430.432.734.636.336.034.5
25.026.524.324.524.825.925.224.023.522.325.727.427.928.327.1
54.353.553.352.752.250.152.251.050.649.449.452.956.253.751.7
Personsbelow
poverty level
Num-ber
(mil-lions)
39.939.638.636.436.133.228.527.825.424.125.425.624.523.023.425.925.024.724.526.129.331.834.435.333.7
17.517.816.215.115.717.816.716.416.317.219.721.623.524.023.0
7.57.47.77.47.27.57.67.77.68.18.69.29.79.99.5
Rate
22.221.921.019.519.017.314.714.212.812.112.612.511.911.111.212.311.811.611.411.713.014.015.015.214.4
9.99.99.08.48.69.79.18.98.79.0
10.211.112.012.111.5
33.532.533.331.430.331.331.131.330.631.032.534.235.635.733.8
Median income of persons 14 years oldand over with income 2
Males
Allpersons
$14,31114,54515,01215,30315,56116,53616,98217,27517,85418,21517,84217,70418,49718,83017,80217,08517,19917,35117,41016,85615,79515,38715,01215,28515,600
18,75418,56119,40119,75818,64917,94818,13118,17418,23517,60816,80016,32715,87016,08016,467
11,12011,06911,75111,95111,55510,73010,91710,78510,92410,90010,0969,7099,5119,4049,448
Year-round
full-timeworkers
$19,06019,66220,00720,59521,04221,72122,26122,67623,33024,55924,56724,70126,16426,80525,61724,96125,28825,83125,57325,01224,16823,63223,30328,46424,004
25,27125,39627,10827,58126,11625,53826,04126,35926,04725,73524,85824,18723,92424,09024,826
17,21317,36618,30618,58918,71019,00618,65118,17219,94918,54717,49017,11316,99217,17616,943
Females
Allper-sons
$4,4244,4424,6084,6554,8525,0075,2445,6036,0286,0415,9846,1766,4536,5356,4926,5336,5256,7556,4776,2286,2026,2336,3356,6786,868
6,0626,2786,4956,5986,5656,6006,5806,8586,5556,2866,2366,3036,4216,7946,949
5,5185,5016,0685,9565,9275,9966,2005,9225,9025,7215,7735,6005,6645,8066,164
Year-roundfull-timework-
ers
$11,55811,60111,87212,06412,42512,56412,88513,06013,63814,38514,55214,62115,02915,16515,11114,89715,16615,10815,35015,07014,61114,22714,70315,10515,422
14,80914,79115,32415,42215,23914,93215,28315,20415,49415,20214,75214,46414,90115,30715,575
12,13413,06013,10913,07714,06414,26614,28914,20914,36113,92913,75913,06313,31813,58814,036
'The term "family" refers to a group of two or more persons related by blood, marriage, or adoption and residing together; all suchpersons are considered members of the same family. Beginning 1979, based on householder concept and restricted to primary families.2 Beginning 1979, data are for persons 15 years and over.3 Based on revised methodology; comparable with succeeding years.4 Based on 1980 census population controls; comparable with succeeding years.
Note—The poverty level is based on the poverty index adopted by a Federal interagency committee in 1969. That index 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 priceindex. For further details see "Current Population Reports," Series P-60, No. 147.
Source: Department of Commerce, Bureau of the Census.
286Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY
TABLE B-30.—Population by age groups, 1929-85
[Thousands of persons]
July 1
1929
1933
1939
19401941194219431944
194519461947 .19481949
19501951 .195219531954
1955 . .1956195719581959
196019611962. .19631964
19651966.196719681969
19701971197219731974
19751976197719781979
19801981 ... .198219831984
1985 .
Total
121 767
125,579
130,880
132 122133,402134,860136 739138,397
139,928141,389144 126146,631149 188
152,271154 878157,553160 184163,026
165 931168,903171,984174 882177,830
180,671183691186 538189,242191 889
194,303196 560198,712200 706202,677
205,052207,661209,896211,909213 854
215,973218 035220 239222,585225,055
227,738230 043232 345234,538236 681
238816
Under 5
11734
10,612
10418
105791085011,3011201612,524
12,97913,2441440614,91915607
16,4101733317,3121763818,057
185661900319,4941988720,175
20,341205222046920,34220165
19,82419208185631791317,376
1716617,24417 1011685116487
16,121156171556415,73516063
16,454169171727917,61617816
5-15
26800
26,897
25,179
2481124,51624,2312409323,949
23,90724,10324,46825,20925852
26,72127,27928,8943022731,480
32,68233,99435,27236,44537,368
38,49439765412054162642297
42,9384370244,2444462244,840
4481644,5914420343'58242989
42508420994129840,42839552
38,839381703784637,63037602
16-19
9127
9,302
9822
98959,8409,73096079,561
9,3619,1199,0978,9528788
8,54284468,41484608637
874489169,195954310215
10,68311 02511 1801200712736
1351614311142001445214,800
1528915,688160391644616769
17017171941727617,28817242
17,160167691624715̂ 68915 121
Age (years)
20-24
10694
11,152
11519
1169011,80711,9551206412,062
12,03612,00411,81411,79411700
11,68011,55211,3501106210,832
1071410,61610,6031075610,969
11,134114831195912,71413269
13,7461405015,2481578616,480
172021815918'l531852118975
19,527199862049920,94621297
21,5792179921 78021,68021525
25-44
35862
37,319
39,354
3986840,38340,8614142042,016
42,52143,0274365744,28844916
45,67246,10346,4954678647,001
4719447,37947,44047,33747,192
47,140470844701346,99446958
46,9124700147,1944772148,064
48,47348,9365048251,74953051
54,302558525756159,40061379
63,4886558367'77269,82671825
45-64
21076
22,933
25,823
26,24926,71827,19627,67128,138
28,63029,06429,49829,93130,405
30,84931,36231,88432,39432,942
33,50634,05734,59135,10935,663
36,2033672237,25537,78238338
38,9163953440,1934084641,437
41,99942,48242,89843,23543,522
43,80144,0084415044,28644,390
44,51044,5464456044,62344,752
65 andover
6474
7,363
8,764
9,0319,2889,5849,86710,147
10,49410,82811,18511,53811921
12,39712,80313,20313,61714,076
14,52514,93815,38815,80616,248
16,6751708917,45717,77818,127
18,45118,75519,07119,36519,680
20,10720,56121,02021,52522,061
22,69623,2782389224,50225,134
25,70926,2592686127,47428,040
Note.—Includes Armed Forces overseas beginning 1940. Includes Alaska and Hawaii beginning 1950.Based on revised methodology, total population for 1980 through 1985 is: 227,757; 230,138; 232,520; 234,799; 237,019; and
239,283, respectively. Detail by age not yet available.
Source: Department of Commerce, Bureau of the Census.
287
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-31.—Population and the labor force, 1929-85
[Monthly data seasonally adjusted, except as noted]
Period
192919331939
19401941194219431944
194519461947
194719481949
19501951. .19521953 51954
19551956195719581959 . . .
I960519611962̂196319641965196619671968196919701971 .19725197351974
19751976 .1977197851979
19801981198219831984
19851982: Jan ...
Feb....Mar...
May'"June..July...Aug...Sept..Oct....Nov...Dec...
Civiliannoninsti-tutionalpopula-tion1
Resi-dentArmedForces 1
Laborforceinclud-ingresi-dentArmedForces
mentncludingresidentArmedForces
Civilian labor force
Total
Employment
Total ±-al
Non-agri-cul-tural
Un-em-ploy-ment
Thousands of persons 14 years of age and over
9984099,90098,64094,64093,220
94,090103,070106,018
49,18051,59055,230
55,64055,91056,41055,54054,63053,86057,52060,168
47,63038,76045,75047,52050,35053,75054,47053,960
52,82055,25057,812
10,45010,0909,610
9,5409,1009,2509,0808,950
8,5808,3208,256
37,18028,67036,140
37,98041,25044,50045,39045,010
44,24046,93049,557
1,55012,8309,480
8,1205,5602,6601,070670
1,0402,2702,356
Thousands of persons 16 years of age and over
101,827103 068103,994
104,995104,621105,231107,056108,321
109,683110,954112,265113,727115,329117,245118,771120,153122,416124,485126,513128,058129,874132,028134,335137,085140,216144,126147,096150,120153,153156,150159,033161,910164,863167,745170,130172,271174,215176,383178,206171,335171,489171,667171,844172,026172,190172,384172,511172,690172,881173,058173,199
1,1692,1432,3862,2312,142
2,0641,9651,9481,8471,788
1,8611,9002,0612,0062,0181,9462,1222,2182,2532,2382,1181,9731,8131,7741,7211,6781,6681,6561,6311,597
1,6041,6451,6681,6761,697
1,706
1,6561,6641,6711,6681,6651,664
1,6741,6891,6701,6681,6601,665
63,37764,16064,52465,24665,78567,08768,51768,87769,48670,157
71,48972,35972,67573,83975,10976,40177,89279,56580,99082,97284,88986,35588,84791,20393,67095,45397,826100,665103,882106,559108,544110,315111,872113,226115,241117,167110,721111,141111,255111,475112,206111,757112,007112,237112,393112,424112,720112,627
60,08762,10462,63663,41062,25164,23465,76466,01964,88366,41867,63967,64668,76369,76871,32373,03475,01776,59078,17380,14080,79681,34083,96686,83888,51587,52490,42093,67397,679100,421100,907102,042101,194102,510106,702108,856101,346101,431101,347101,220101,770101,200101,167101,344101,166100,887100,792100,720
59,35060,62161,286
62,20862,01762,13863,01563,643
65,02366,55266,92967,63968,369
69,62870,45970,61471,83373,09174,45575,77077,34778,73780,73482,77184,38287,03489,42991,94993,77596,15899,009102,251104,962106,940108,670110,204111,550113,544115,461109,065109,477109,584109,807110,541110,093110,333110,548110,723110,756111,060110,962
57,03858,34357,65158,91859,96160,25061,17960,109
62,17063,79964,07163,03664,630
65,77865,74666,70267,76269,30571,08872,89574,37275,92077,90278,67879,36782,15385,06486,79485,84688,75292,01796,04898,82499,303100,39799,526100,834105,005107,15099,69099,76799,67699,552100,10599,53699,49399,65599,49699,21999,13299,055
7,8907,6297,658
7,1606,7266,5006,2606,205
6,4506,2835,9475,5865,565
5,4585,2004,9444,6874,5234,3613,9793,8443,8173,6063,4633,3943,4843,4703,515
3,4083,3313,2833,3873,3473,3643,3683,4013,3833,321
3,179
3,3943,3693,3763,3523,4363,3303,4013,4063,3783,4873,5213,417
49,14850,71449,993
51,75853,23553,74954,91953,904
55,72257,51458,12357,45059,065
60,31860,54661,75963,07664,78266,72668,91570,52772,10374,29675,21575,97278,66981,59483,27982,43885,42188,73492,66195,477
95,93897,03096,12597,450101,685103,97196,29696,39896,30096,20096,66996,20696,09296,24996,11895,73295,61195,638
2,3112,2763,637
3,2882,0551,8831,8343,532
2,8522,7502,8594,6023,7403,8524,7143,9114,0703,7863,3662,8752,9752,8172,8324,0935,0164,8824,3655,1567,9297,4066,9916,2026,137
7,6378,27310,67810,7178,5398,312
9,3759,7109,90810,25510,43610,55710,84010,89311,22711,53711,92811,907
Unemploymentrate
Allwork-ers2
Civil-ian
work-ers
Labor forceparticipation
rate
Total3 Civil-ian4
Percent
5.23.22.92.85.4
4.34.04.26.65.3
5.46.55.45.55.04.43.73.73.53.4
4.85.85.54.85.5
8.37.66.96.05.8
7.07.59.59.57.4
7.1
8.58.78.99.29.39.49.79.710.010.310.610.6
3.224917.2
14.69.94.71.91.2
1.93.93.9
393.85.9
5.33.33.02.95.5
4.44.14.36.85.5
5.56.75.55.75.2
4.53.83.83.63.54.95.95.64.95.6
8.57.77.16.15.8
7.17.69.79.67.5
7.2
8.68.99.09.39.49.69.89.910.110.410.710.7
59.760.160.059.759.6
60.060.760.360.159.9
60.060.059.559.359.4
59.559.860.260.360.861.060.760.961.361.7
61.662.062.663.564.0
64.164.264.364.464.7
65.1
64.064.264.264.264.664.364.464.464.564.464.564.4
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
59.459.358.858.758.758.959.259.659.660.160.460.260.460.861.361.261.662.363.263.7
63.863.964.064.064.4
64.863.763.863.863.964.363.9
64.064.164.164.164.264.1
See next page for continuation of table.
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TABLE B-31.—Population and the labor force, 1929-85—Continued
[Monthly data seasonally adjusted, except as noted]
Period
1983: Jan ....FebMar....AprMay....June...
July....Aug....Sept...OctNov....Dec....
1984: Jan ....FebMar....AprMay....June-
July....Aug....Sept...OctNov....Dec....
1985: Jan ....FebMar....AprMay....June-
July....Aug....Sept...OctNov....Dec....
Civiliannoninsti-tutionalpopula-tion1
Resi-rlontdent
ArmedForces *
Laborforce
includ-ing
resi-dent
ArmedForces
Employ-ment
includingresidentArmedForces
Civilian labor force
Total
Employment
Total Agri-cultural
Non-agri-cul-
tural
Un-em-ploy-ment
Thousands of persons 16 years of age and over
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
177,384177,516177,667177,799177,944178,096
178,263178,405178,572178,770178,940179,112
1,6671,6641,6641,6711,6691,668
1,8641,6821,6951,6951,6851,688
1,6861,6841,6861,6931(6901,690
1,6981,7121,7201,7051,6991,698
1,6971,7031,7011,7021,7051,702
1,7041,7261,7321,7001,7021,698
112,318112,327112,279112,491112,575113,529
113,400113,927113,984113,634113,903113,956
113,877114,367114,420114,776115,412115,508
115,620115,430115,515115,741115,864116,202
116,451116,685117,036116,958117,044116,726
116,976117,069117,522117,814117,832117,927
100,833100,773100,854101,205101,313102,258
102,889103,317103,692103,749104,416104,704
104,895105,530105,645106,011106,865107,270
107,164106,934107,135107,362107,670107,946
108,012108,290108,652108,574108,644108,303
108,575108,936109,251109,513109,671109,904
110,651110,663110,615110,820110,906111,861
111,736112,245112,289111,939112,218112,268
112,191112,683112,734113,083113,722113,818
113,922113,718113,795114,036114,165114,504
114,754114,982115,335115,256115,339115,024
115,272115,343115,790116,114116,130116,229
99,16699,10999,19099,53499,644
100,590
101,225101,635101,997102,054102,731103,016
103,209103,846103,959104,318105,175105,580
105,466105,222105,415105,657105,971106,248
106,315106,587106,951106,872106,939106,601
106,871107,210107,519107,813107,969108,206
3,4393,3813,3793,3473,3413,462
3,4793,4903,3313,2993,2903,335
3,2913,3553,2703,3263,3493,374
3,3323,2703,3563,1933,3953,387
3,3193,3253,3143,3533,2843,140
3,1203,0953,0173,0583,0703,151
95,72795,72895,81196,18796,30397,128
97,74698,14598,66698,75599,44199,681
99,918100,491100,689100,992101,826102,206
102,134101,952102,059102,464102,576102,861
102,996103,262103,637103,519103,655103,461
103,751104,115104,502104,755104,899105,055
11,48511,55411,42511,28611,26211,271
10,51110,61010,2929,8859,4879,252
8,9828,8378,7758,7658,5478,238
8,4568,4968,3808,3798,1948,256
8,4398,3958,3848,3848,4008,423
8,4018,1338,2718,3018,1618,023
Unemploymentrate
Allwork-ers2
Civil-ian
work-ers
Labor forceparticipation
rate
Total3 Civil-ian4
Percent
10.210.310.210.010.09.9
9.39.39.08.78.38.1
7.97.77.77.67.47.1
7.37.47.37.27.17.1
7.27.27.27.27.27.2
7.26.97.07.06.96.8
10.410.410.310.210.210.1
9.49.59.28.88.58.2
8.07.87.87.87.57.2
7.47.57.47.37.27.2
7.47.37.37.37.37.3
7.37.17.17.17.06.9
64.264.164.064.164.164.6
64.464.764.764.464.564.5
64.364.564.564.664.964.9
64.964.764.764.864.864.9
65.065.165.265.265.264.9
65.065.065.265.365.265.2
63.863.863.763.863.864.2
64.164.364.364.064.164.1
63.964.164.164.364.664.6
64.664.464.464.464.564.6
64.764.864.964.864.864.6
64.764.764.865.064.964.9
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.5 Not strictly comparable with earlier data due to population adjustments as follows: Beginning 1953, introduction of 1950 census
data added about 600,000 to population and about 350,000 to labor force, total employment, and agricultural employment. Beginning1960, inclusion of Alaska and Hawaii added about 500,000 to population, about 300,000 to labor force, and about 240,000 tononagricultural employment. Beginning 1962, introduction of 1960 census data reduced population by about 50,000 and labor force andemployment by about 200,000. Beginning 1972, introduction of 1970 census data added about 800,000 to civilian noninstitutionalpopulation and about 333,000 to labor force and employment. A subsequent adjustment based on 1970 census in March 1973 added60,000 to labor force and to employment. Beginning 1978, changes in sampling and estimation procedures introduced into thehousehold survey added about 250,000 to labor force and to employment. Unemployment levels and rates were not significantlyaffected.
Note.—Labor force data in Tables B-31 through B-38 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.
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TABLE B-32.—Civilian employment and unemployment by sex and age, 1947-85
[Thousands of persons 16 years of age and over; monthly data seasonally adjusted]
Year or month
194719481949 . . .195019511952. .19531195419551956195719581959I960119611962 '196319641965196619671968196919701971197211973 !19741975197619771978 *19791980198119821983198419851984: Jan
FebMarAprMayJuneJulyAug
OctNovDec
1985- JanFebMarAprMayJuneJulyAURsept:....:....:OctNovDec
Civilian employment
Total
57,03858,34357,65158,91859,96160,25061,17960,10962,17063,79964,07163,03664,63065,77865,74666,70267,76269,30571,08872,89574,37275,92077,90278,67879,36782,15385,06486,79485,84688,75292,01796,04898,82499,303100,39799,526100,834105,005107,150103,209103,846103,959104,318105,175105,580105,466105,222105,415105,657105,971106,248106,315106,587106,951106,872106,939106,601106,871107,210107,519107,813107,969108,206
Males
Total
40,99541,72540,92541,57841,78041,68242,43041,61942,62143,37943,35742,42343,46643,90443,65644,17744,65745,47446,34046,91947,47948,11448,81848,99049,39050,89652,34953,02451,85753,13854,72856,47957,60757,18657,39756,27156,78759,09159,89158,25158,57758,66358,70159,00659,39359,18959,19759,36159,44359,61559,68859,61459,65359,82859,82059,94259,62359,71959,93660,04960,10560,17960,244
16-19years
2,2182,3442,1242,1862,1562,1072,1361,9852,0952,1642,1152,0122,1982,3612,3152,3622,4062,5872,9183,2533,1863,2553,4303,4093,4783,7654,0394,1033,8393,9474,1744,3364,3004,0853,8153,3793,3003,3223,3283,2453,3343,3443,3163,3473,3863,2963,2753,3243,3083,3793,3573,3833,3793,4173,4303,3983,2393,3163,3003,2983,2563,2823,262
20yearsandover
38,77639,38238,80339,39439,62639,57840,29639,63440,52641,21641,23940,41141,26741,54341,34241,81542,25142,88643,42243,66844,29444,85945,38845,58145,91247,13048,31048,92248,01849,19050,55552,14353,30853,10153,58252,89153,48755,76956,56255,00655,24355,31955,38555,65956,00755,89355,92256,03756,13556,23656,33156,23156,27456,41156,39056,54456,38456,40356,63656,75156,84956,89756,982
Females
Total
16,04516,61716,72317,34018,18118,56818,74918,49019,55120,41920,71420,61321,16421,87422,09022,52523,10523,83124,74825,97626,89327,80729,08429,68829,97631,25732,71533,76933,98935,61537,28939,56941,21742,11743,00043,25644,04745,91547,25944,95845,26945,29645,61746,16946,18746,27746,02546,05446,21446,35646,56046,70146,93447,12347,05246,99746,97847,15247,27447,47047,70847,79047,962
16-19years
1,6911,6821,5881,5171,6111,6121,5841,4901,5471,6541,6631,5701,6401,7681,7931,8331,8491,9292,1182,4682,4962,5262,6872,7352,7302,9803,2313,3453,2633,3893,5143,7343,7833,6253,4113,1703,0433,1223,1053,1453,1203,0413,1323,1233,2013,2393,0743,1033,1253,0813,0853,1083,2213,1963,1273,1142,9453,0823,0773,1073,0993,1343,080
20yearsandover
14,35414,93615,13715,82416,57016,95817,16417,00018,00218,76719,05219,04319,52420,10520,29620,69321,25721,90322,63023,51024,39725,28126,39726,95227,24628,27629,48430,42430,72632,22633,7753583637>3438,49239,59040,08641,00442,79344,15441,81342,14942,25542,48543,04642,98643,03842,95142,95143,08943,27543,47543,59343,71343,92743,92543,88344,03344,07044,19744,36344,60944,65644,882
Unemployment
Total
2,3112,2763,6373,2882,0551,8831,8343,5322,8522,7502,8594,6023,7403,8524,7143,9114,0703,7863,3662,8752,9752,8172,8324,0935,0164,8824,3655,1567,9297,4066,9916,2026,1377,6378,27310,67810,7178,5398,3128,9828,8378,7758,7658,5478,2388,4568,4968,3808,3798,1948,2568,4398,3958,3848,3848,4008,4238,4018,1338,2718,3018,1618,023
Males
Total
1,6921,5592,5722,2391,2211,1851,2022,3441,8541,7111,8413,0982,4202,4862,9972,4232,4722,2051,9141,5511,5081,4191,4032,2382,7892,6592,2752,7144,4424,0363,6673,1423,1204,2674,5776,1796,2604,7444,5215,0904,9584,9074,8874,7524,5754,7024,6244,6484,5394,5074,5834,5744,5754,5174,5564,5144,6334,6114,4354,4454,5714,4454,346
16-19years
270256353318191205184310274269300416398426479408501487479432448426440599693711653757966939874813811913962
1,0901,003812806848825848829809792825760818800780808808812774781818771856802789894789780
20yearsandover
1,4221,3052,2191,9221,029980
1,0192,0351,5801,4421,5412,6812,0222,0602,5182,0161,9711,7181,4351,1201,060993963
1,6382,0971,9481,6241,9573,4763,0982,7942,3282,3083,3533,6155,0895,2573,9323,7154.2424,1334,0594,0583,9433,7833,8773,8643,8303,7393,7273,7753,7663,7633,7433,7753,6963,8623,7553,6333,6563,6773,6563,566
Females
Total
619717
1,0651,049834698632
1,188998
1,0391,0181,5041,3201,3661,7171,4881,5981,5811,4521,3241,4681,3971,4291,8552,2272,2222,0892,4413,4863,3693,3243,0613,0183,3703,6964,4994,4573,7943,7913,8923,8793,8683,8783,7953,6633,7543,8723,7323,8403,6873,6733,8653,8203,8673,8283,8863,7903,7903,6983,8263,7303,7163,677
16-19years
144153223195145140123191176209197262256286349313383385395405391412413506568598583665802780789769743755800886825687661703733728729695687623691716654617671705680699650687638670555631676659689
20yearsandover
475564841854689559510997823832821
1,2421,0631,0801,3681,1751,2161,1951,056921
1,078985
1,0151,3491,6581,6251,5071,7772,6842,5882,5352,2922,2762,6152,8953,6133,6323,1073,1293,1893,1463,1403,1493,1002,9763,1313,1813,0163,1863,0703,0023,1603,1403,1683,1783,1993,1523,1203,1433,1953,0543,0572,988
* See footnote 5, Table B-31.Note.—See Note, Table B-31.Source: Department of Labor, Bureau of Labor Statistics.
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TABLE B-33.—Unemployment by duration and reason, 1947-85
[Monthly data seasonally adjusted1]
Year or month
194719481949
19501951195219531954
19551956 . . .195719581959
196019611962 ... .19631964
1965196619671968196919701971...197219731974
19751976197719781979
19801981198219831984
19851984: Jan
FebMar .AprMayJuneJulyAugSept .OctNovDec
1985: JanFebMarApr.MayJuneJulyAugSeptOctNovDec
Unem-ploy-ment
Duration of unemployment
Lessthan 5weeks
5-14weeks
15-26weeks
27weeksandover
Thousands of persons 16years of age and over
2,3112,2763,637
3,2882,0551,8831,8343,5322,8522,7502,8594,6023,7403,8524,7143,9114,0703,7863,3662,8752,9752,8172,8324,0935,0164,8824,3655,156
7,9297,4066,9916,2026,137
7,6378,27310,67810,7178,5398,3128,9828,8378,7758,7658,5478,2388,4568,4968,3808,3798,1948,2568,4398,3958,3848,3848,4008,4238,4018,1338,2718,3018,1618,023
1,2101,3001,756
1,4501,1771,1351,1421,605
1,3351,4121,4081,7531,585
1,7191,8061,6631,7511,697
1,6281,573-1,6341,5941,629
2,1392,2452,2422,2242,6042,9402,8442,9192,8652,9503,2953,4493,8833,5703,3503,4983,2753,3423,3583,3863,2363,2293,3783,5623,3133,4263,3853,3523,6273,5013,5563,5283,6073,4663,5253,4223,4843,4303,4653,374
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
2,4702,5393,3112,9372,4512,5092,5222,5012,5242,4772,4102,2922,4472,4132,5312,3922,3472,5242,5402,4882,4872,5162,5942,5362,5142,5082,5052,5362,4482,460
234193428
425166148132495
366301321785469
503728534535491404287271256242
428668601483574
1,3031,018913766706
1,0521,1221,7081,6521,104
1,0251,1831,1611,1171,1121,2021,0331,0621,1031,1011,0681,006983
9321,0651,0611,0311,0631,033
1,0781,0471,0351,057894973
164116256
3571378478317
336232239667571
454804585553482
351239177156133
235519566343381
1,2031,3481,028648535
8201,1621,7762,5591,6341,2802,0241,8361,7751,7301,6641,6061,5841,5191,4791,4461,4301,401
1,3151,3481,3391,3431,2111,295
1,2511,2271,2721,2201,3111,215
Aver-age
(mean)dura-tion inweeks
Mediandura-tion inweeks
8.610.0
12.19.78.48.011.8
13.011.310.513.914.4
12.815.614.714.013.311.810.48.78.47.88.611.312.010.09.8
14.215.814.311.910.8
11.913.715.620.018.2
15.620.519.118.918.618.618.118.017.517.216.817.117.1
15.916.015.916.115.015.5
15.515.515.515.415.715.4
4.54.4
4.96.36.25.25.2
8.48.27.05.95.4
6.56.98.710.17.96.8
9.18.38.38.28.97.77.57.37.67.27.27.3
6.87.17.06.86.76.8
7.17.26.97.06.96.9
Reason for unemployment
Joblosers
Jobleavers
Reen-trants
Newen-
trants
Thousands of persons 16years of age and over
1,2291,0701,017
1,8112,3232,1081,6942,2424,3863,6793,1662,5852,6353,9474,2676,2686,2584,4214,139
4,7894,7334,6414,5344,4174,3004,3704,2384,1984,2924,1384,196
4,2714,2364,1774,2293,9944,167
4,2064,1444,1424,0404,0813,933
438431436
550590641683768827903909874880
891923840830823877
804786787802814799838838849816875856
877868861852870983
894875852911808876
945909965
1,2281,4721,4561,3401,4631,8921,9281,9631,8571,806
1,9272,1022,3842,4122,184
2,2562,1952,1732,1812,2792,1501,9952,1382,3202,2332,1572,1832,2402,2402,2382,3012,2832,3782,2332,1842,1912,3352,2372,2262,225
396407413504630677649681
823895953885817
872981
1,1851,2161,1101,039
1,1821,1211,1891,1801,1551,1351,0931,1061,0631,0671,0191,015
1,0451,0561,0741,0511,1421,018
1,098941918
1,0451.0551,033
1 Because of independent seasonal adjustment of the various series, detail will not add to totals.
Note.—See footnote 5 and Note, Table B-31.Source: Department of Labor, Bureau of Labor Statistics.
291
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-34.—Civilian labor force participation rate and civilian employment/population ratio, 1948-85
[Percent; monthly data seasonally adjusted]
Year or month
19481949
19501951195219531954195519561957 .19581959
1960196119621963196419651966196719681969
19701971197219731974 .. ..19751976 ..197719781979
198019811982198319841985
1984: JanFebMarAprMay .June
Ju lyAugSeptOctNovDec
1985- JanFebMarAprMayJune
JulyAug .SeptOctNovDec
Civilian labor force participation rate '
Total
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
63.863.964.064.064.464.8
63.964.164.164.364.664.6
64.664.464.464.464.564.6
64.764.864.964.864.864.6
64.764.764.865.064.964.9
Bothsexes16-19years
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
56.755.454.153.553.954.5
53.053.753.554.054.054.8
54.453.254.454.053.954.4
54.855.455.554.955.352.4
54.953.554.154.854.354.0
Males20
yearsandover
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
79.479.078.778.578.378.1
78.378.378.378.278.378.5
78.478.378.378.278.278.3
78.278.178.278.178.278.1
77.978.078.178.178.178.0
Fe-males
20yearsandover
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
51.352.152.753.153.754.7
53.053.353.453.654.153.8
54.053.953.653.954.054.0
54.454.454.654.654.554.6
54.554.654.854.954.955.0
White
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
64.164.364.364.364.665.0
64.364.564.564.664.964.9
64.864.564.664.764.664.8
64.965.065.165.065.064.8
64.964.965.165.265.265.1
Blackand
other
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
61.761.361.662.162.663.3
61.561.961.962.062.662.8
62.963.262.963.263.163.0
63.563.163.763.763.663.3
63.262.763.263.263.363.5
Black
59.960.259.858.859.059.861.561.4
61.060.861.061.562.262.9
61.061.861.661.662.062.1
62.562.862.362.762.962.8
63.062.962.863.163.162.7
62.862.462.762.862.963.2
Civilian employment/population ratio2
Total
56.655.4
56.157.357.357.155.556.757.557.155.456.0
56.155.455.555.455.756.256.957.357.558.0
57.456.657.057.857.856.156.857.959.359.9
59.259.057.857.959.560.1
58.859.159.159.359.759.9
59.859.659.659.759.859.9
59.960.060.260.160.159.9
60.060.160.260.360.360.4
Bothsexes16-19years
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
46.644.641.541.543.744.4
42.743.242.943.543.844.7
44.543.343.944.144.344.3
44.445.245.445.144.942.7
44.344.144.343.944.343.8
Males20
yearsandover
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
74.674.071.871.473.273.3
72.772.972.972.973.273.5
73.373.273.373.373.473.4
73.373.273.473.273.473.1
73.073.373.373.473.473.4
Fe-males
20yearsandover
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
48.148.648.448.850.151.0
49.349.649.749.950.550.3
50.350.250.150.250.450.6
50.750.851.050.950.850.9
50.951.051.251.451.451.6
White
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
60.060.058.858.960.561.0
59.960.160.260.360.760.8
60.760.460.560.660.660.8
60.861.061.160.961.060.6
60.760.961.161.261.361.3
Blackand
other
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
53.652.650.951.053.654.7
51.952.752.552.853.754.0
53.654.154.254.654.654.4
54.954.154.854.954.754.9
54.754.754.554.654.454.9
Black
'"53.754.553.550.150.851.453.653.8
52.351.349.449.552.353.4
50.551.851.451.352.252.4
52.152.852.953.153.553.3
53.552.953.353.553.353.6
53.453.653.253.553.153.8
1 Civilian labor force as percent of civilian nomnstitutional 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-31.
•Source-. Department of Labor, Bureau of Labor Statistics.
292
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-35.—Unemployment rate, 1948-85
[Percent; monthly data seasonally adjusted]
Year ormonth
19481949
19501951195219531954195519561957 .1958....1959
196019611962....19631964196519661967 .19681969
1970197119721973197419751976 .197719781979
19801981198219831984
1985 . .
1984: JanFebMarAprMayJune....
Ju lyAugSept....OctNovDec
1985: JanFebMarAprMayJune....
JulyAugSept....OctNovDec
Unem-ploy-mentrate,
allwork-ers *
5.23.22.92.85.44.34.04.26.65.3
5.46.55.45.55.04.43.73.73.53.4
4.85.85.54.85.58.37.66.96.05.8
7.07.59.59.57.4
7.1
7.97.77.77.67.47.1
7.37.47.37.27.17.1
7.27.27.27.27.27.2
7.26.97.07.06.96.8
Unemployment rate, civilian workers 2
Allcivil-ian
work-ers
3.85.9
5.33.33.02.95.54.44.14.36.85.5
5.56.75.55.75.24.53.83.83.63.5
4.95.95.64.95.68.57.77.16.15.8
7.17.69.79.67.5
7.2
8.07.87.87.87.57.2
7.47.57.47.37.27.2
7.47.37.37.37.37.3
7.37.17.17.17.06.9
Males
Total
3.65.9
5.12.82.82.85.34.23.84.16.85.2
5.46.45.25.24.64.03.23.12.92.8
4.45.35.04.24.97.97.16.35.35.1
6.97.49.99.97.4
7.0
8.07.87.77.77.57.2
7.47.27.37.17.07.1
7.17.17.07.17.07.2
7.26.96.97.16.96.7
16-19
years
9.814.3
12.78.18.97.9
13.511.611.112.417.115.3
15.317.114.717.215.814.111.712.311.611.4
15.016.615.913.915.620.119.217.315.815.9
18.320.124.423.319.6
19.5
20.719.820.220.019.519.0
20.018.819.719.518.819.4
19.319.418.518.519.419.2
20.519.619.321.519.419.3
20yearsandover
3.25.4
4.72.52.42.54.93.83.43.66.24.7
4.75.74.64.53.93.22.52.32.22.1
3.54.44.03.33.86.85.95.24.34.2
5.96.38.88.96.6
6.2
7.27.06.86.86.66.3
6.56.56.46.26.26.3
6.36.36.26.36.16.4
6.26.06.16.16.05.9
Females
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
7.4
8.07.97.97.87.67.3
7.57.87.57.77.47.3
7.67.57.67.57.67.5
7.47.37.57.37.27.1
16-19
years
8.312.3
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
17.6
18.319.019.318.918.217.7
16.118.418.717.316.717.9
18.517.417.917.218.117.8
17.915.316.917.917.418.3
20yearsandover
3.65.3
5.14.03.22.95.54.44.24.16.15.2
5.16.35.45.45.24.53.84.23.83.7
4.85.75.44.95.58.07.47.06.05.7
6.46.88.38.16.8
6.6
7.16.96.96.96.76.5
6.86.96.66.96.66.5
6.86.76.76.76.86.7
6.66.66.76.46.46.2
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
18.6
19.519.419.819.518.918.3
18.118.619.318.417.818.7
18.918.418.217.918.818.6
19.317.518.119.818.418.8
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
6.2
6.96.86.76.76.56.2
6.36.46.46.36.26.2
6.46.26.36.36.26.4
6.36.16.16.15.95.9
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
13.7
15.614.915.115.014.214.0
14.914.413.713.713.613.7
13.714.413.813.813.913.2
13.512.813.713.514.113.4
Black
"10.4"9.4
10.514.814.014.012.812.3
14.315.618.919.515.9
15.1
17.216.216.616.615.815.6
16.615.915.015.314.915.1
15.116.015.215.215.414.4
15.014.115.214.915.614.9
Experi-encedwageand
salaryworkers
436.8
6.03.73.43.26.24.84.44.67.35.7
5.76.85.65.65.04.33.53.63.43.3
4.85.75.34.55.38.27.36.65.65.5
6.97.39.39.27.1
6.8
7.67.47.37.37.06.7
7.07.06.96.96.86.9
6.96.96.86.86.86.9
6.96.76.86.76.66.5
Mar-riedmen,
spousepres-ent3
3.5
4.61.51.41.74.02.62.32.85.13.6
3.74.63.63.42.82.41.91.81.61.5
2.63.22.82.32.75.14.23.62.82.8
4.24.36.56.54.6
4.3
4.94.94.84.74.64.5
4.54.54.54.64.44.4
4.54.44.34.34.04.6
4.44.14.34.24.34.3
Womenwho
main-tain
fami-lies
4"94.44.4
5.47.37.27.17.0
10.010.19.48.58.3
9.210.411.712.210.3
10.4
10.910.710.910.49.99.9
9.910.29.9
10.310.89.9
10.210.910.310.710.89.9
10.310.811.310.410.09.4
1 Unemployed as percent of labor force including resident Armed Forces.2 Unemployed as percent of civilian labor force in group specified.3 Data for 1949 and 1951-54 are for April; 1950, for March.
Note.—Data relate to persons 16 years of age and over. See footnote 5 and Note, Table B-31.
Source: Department of Labor, Bureau of Labor Statistics.
293Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-36.—Civilian labor force participation rate by demographic characteristic, 1954-85
[Percent;1 monthly data seasonally adjusted]
Year or month
1954
1955.1956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985
1984: JanFebMarAprMayJune
JulyAugSeptOct. . .NovDec
1985: JanFebMar.. ..AprMayJune
JulyAugSeptOctNovDec
Allcivil-ian
work-ers
588
593600596595593
594593588587587
58.959259659.6601
60.460260.4608613
61261.662363.2637
638639640640644
648
63.964164164.364.664.6
64.664.464.464464564.6
64.764.864964.864.864.6
64.764.764.865064.964.9
Total
582
58759459 158958.7
588588583582582
58458759259.3599
60260160.4608614
61561.862563.3639
64 1643643643646
650
64.364564564.664,964.9
64.864.564.664764664.8
64.9f t tO65165.065.064.8
64.964.965.165265.265.1
Total
856
85485684884383.8
83483082181581 1
80.880680780.4802
80.079679.6794794
78778.478578.6786
78277977477' 1771
770
77.077077077.077.177.3
77.176.977.177077 177.2
77.077.177177.177.176.8
76.876.876.977176.976.8
Males
16-19years
576
586604592565559
559545538531527
54155956355.9568
57557960.1620629
61962.364065.0648
637624600594590
597
58.358959658.859.359.4
59.057.359.5592594599
60.360.360260.861.058.0'
60.359.259.260358.858.5
White
20yearsandover
878
87587686986686.3
860857849844842
83.983683583.2830
82.882382.0816814
80780.380280.1801
798795792789787
785
78.778778778.778.778.9
78.778.678.878678778.8
78.578.678678.678.678.5
78.278.478.578678.578.4
Total
333
34535735735836.0
365369367372375
38.139240140.7418
42.642643.2441452
45946.948049.4505
51 2519524527533
54 1
52.753053053.353.753.5
53.653.353.153453353.6
53.854.054254.053.953.8
54.054.054.354454.454.5
Females
16-19years
406
40743142240139.6
403406398387378
39242642543.0446
45645448.1501517
51552.854556.7574
562554550545554
552
55.355855656.255.856.3
55.954.555.555054055.1
55.457.057054.855.252.6
54.753.555.255656.055.7
20yearsandover
327
34035135235535.6
362366365370375
38038839840.4415
42.242342.7435444
45346.247348.7498
506515522525531
540
52.552852853.053.553.3
53.453.253.053253353.4
53.753.854053.953.853.9
53.954.054.254354.354.4
Total
59.9602598
58859.059861.5614
61060861061 5622
629
61.061 861661.662.062.1
62.562.862.362762962.8
63.062.962863.163.162.7
62.862.462.762862.963.2
Total
73.6734729
70970.070671.5713
70370070 1705708
708
70.271270870.171.070.6
71.070.970.671070771.0
70.871.170570.771.070.4
70.970.671.070970.4708
Males
16-19years
46.3457467
42641.343244.9436
432416398399417
446
38.039940641.841.642.1
41.741.443.043243343.6
44.543.243845.044.242.4
46.144.544.946243.245.6
Black
20yearsandover
78.5784776
76075.475676.2763
75 1745747752748
744
74.875775074.175.174.6
75.175.074.474.874474.7
74.474.974.274.274.674.2
74.274.274.674374.174.2
Total
48.7493490
48849.850853.1531
53 1535537542552
565
53.554254254.754.855.2
55.556.255.556056756.3
56.8%456657.056.756.5
56.355.756.156356.957.0
Females
16-19years
32.2342334
34232.932937.3368
349340335330350
379
32.533731034.530.337.3
37.037.337.037.736335.8
38.039.139538.740.037.2
38.334.335.738338.337.4
20yearsandover
51.2516514
51 152.553655.555,4
556560562568576
58.6
56.056.656957.057.757.2
57.758.357.658.159058.6
58.9*tfn58.659.058.658.7
58.358.158.358359.059.2
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-31.Source: Department of Labor, Bureau of Labor Statistics.
294
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-37.—Civilian employment/population ratio, 1954-85
[Percent *; monthly data seasonally adjusted]
Year or month
1954
19551956 ..195719581959
I9601961 .196219631964
1965196619671968. .1969
19701971197219731974
19751976197719781979
19801981198219831984
1985
1984: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1985: JanFebMarAprMayJune
JulyAugSeptOctNovDec
Allcivil-ian
work-ers
555
56.757557.1554560
56155455.5554557
56256957.357558.0
57456.657.057.857.8
56.156.857.959.359.9
59.259.057.857.959.5
60.1
58.859.159.159.359.759.9
59859.659.659.759.859.9
59.960.060.260.160.159.9
60,060.160.260.360.360.4
Total
552
56.557356.8553559
55955355.4553555
56056857.257458.0
57556.857.458.258.3
56.757.558.660.060.6
60.060.058.858.960.5
61.0
59.960.160.260.360.760.8
60760.460.560.660.660.8
60.861.061.160.961.060.6
60.760.961.161.261.361.3
Total
81 5
82.282781.8792799
79478278.4777778
77978378.478378.2
76875.776.076.575.9
73.073.474175.075.1
73.472.870670.472.1
72.3
71.671.871,971.972.172.6
72372.172.372.372.372.5
72.372.372.472.472.571.9
71.972.172.472.472.472.4
Males
16-19years
499
52.054152.4476481
48145946.4447450
47 150150.250351.1
49649.251.554.354.4
50.651.554456.355.7
53.451.347047.449.1
49.9
47.849.149.248.749.349.6
49048.049.249.649.750.2
50.650.250.951.250.848.3
49.949.049.749.249.549.0
White
20yearsandover
840
84.785084.1818828
82481481.581 1813
81581781.781681.4
80179.079.079.278.6
75.776.076.577.277.3
75.675.173072.674.3
74.3
73.873.974.074.174.274.7
74474.374.474.374.474.5
74.274.374.474.374.574.0
73.974.274.474.574.574.4
Total
314
33.034234.233.6340
34634534.7350355
36237538.338940.1
40339.940.741.842.4
42.043.244.546.347.5
47.848.348148.549.8
50.7
49.249.449.549.750.250.1
50249.749.749.950.050.2
50.350.650.750.550.450.3
50.550.650.851.051.151.2
Females
16-19years
364
37.038938.235.0348
35134634.8329322
33737537.737839.5
39538.641.343.644.3
42.544.245.948.549.4
47.946.244644.547.0
47.1
47.346.546.547.347.347.7
48846.046.746.746.546.7
46.949.048.646.946.944.6
46.546.647.347.147.647.1
20yearsandover
31 1
32.733833.9335340
34534534.7352358
36537538.339140.1
40440.140.641.642.2
41.943.144446.147.3
47.848.548448.950.0
51.0
49.449.649.749.950.450.3
50350.049.950.150.250.4
50.550.750.950.850.750.8
50.851.051.151.351.451.5
Total
"'537'54.553.5
50.150.851453.653.8
52.351.349449.552.3
53.4
50.551.851.451.352.252.4
52 152.852.953.153.553.3
53.552.953.353.553.353.6
53.453.653.253.553.153.8
Total
"'eel'67.565.8
60.660.661.463.363.4
60.459.156056.359.2
60.0
58.159.458.557.959.558.9
58659.559.760.060.359.9
59.959.659.659.860.160.1
60.161.060.159.759.160.0
Males
16-19years
3L6"32.831.4
26.325.826.428.528.7
27.024.620.320.423.9
26.3
20.721.522.523.524.225.9
24024.425.524.225,524.6
25.025.625.827.326.825.0
26.228.926.527.323.726.9
Black
20yearsandover
'"73"o"73.771.9
66.566.867.569.169.1
65.864.561.461.664.1
64.6
63.564.763.662.764.563.5
63364.364.464.965.164.7
64.864.364.364.364.665.0
64.865.364.764.163.964.5
Total
""43'b43.8
^43.5
41.642.843.345.846.0
45.745.144.244.146.7
48.1
44.445.645.646.146.447.1
46847.447.447.648.148.0
48.447.548.148.447.948.4
47.947.747.748.448.348.7
Females
16-19years
igT22.020.9
20.219.218.522.122.4
21.019.717.717.020.1
23.1
16.720.515.918.716.023.1
21421.320.823.821.421.9
23.222.222.923.523.423.2
23.422.022.823.724.521.6
20yearsandover
'"ieis47.246.9
44.946.447.049.349.3
49.148.547.547.449.8
50.9
47.748.649.049.349.949.9
49750.350.550.351.151.0
51.350.351.051.350.751.2
50.650.550.551.250.951.7
1 Civilian employment as percent of civilian noninstitutional population in group specified.Note.—Data relate to persons 16 years of age and over. See footnote 5 and Note, Table B-31.
Source: Department of Labor, Bureau of Labor Statistics.
295
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-38.—Civilian unemployment rate by demographic characteristic, 1948-85
[Percent;l monthly data seasonally adjusted]
Year or month
19481949
19501951195219531954
19551956195719581959.. .
19601961196219631964
19651966196719681969
197019711972...19731974..
19751976197719781979
19801981198219831984... .
1985
1984: JanFebMarAprMayJune
July.AugSeptOctNovDec
1985: JanFebMarAprMayJune
JulyAueSeptOctNovDec . .
Allcivil-ian
work-ers
385.9
5.33.3302.955
4.4414.36855
55675.5575.2
4.53.838363.5
4.95.9564.956
857.7716.158
7.176979.675
7.2
8.07.8787.87.57.2
7.4757.47.3727.2
7.4737.3737.373
7.37.171717.06.9
Total
355.6
493.1282750
3.9363.86148
50604.9504.6
4.13.434323.1
4.55.4514.350
787.0625.251
6.367868.465
6.2
6.968676.7656.2
6.3646.46.3625.2
6.46?6.3636264
6.36.161615.959
Total
3456
472.6252548
3.734366146
48574.64 74.1
3.62827262.5
404.9453.844
7 264554645
6165888.864
61
7.0686766646.1
6.2626.36.1616.2
6.2616.0616064
6.36159615.857
Males
16-19years
134
11.3105115157140
14015713.7159147
12.9105107101100
13715.1142123135
183173150135139
16217921 7202168
165
18.016717517116816.6
17.016217.216.316416.3
16.1168156157167167
17.117216218515.8162
White
20yearsandover
44
3.3303.25541
425.14.0393.4
2.92.221201.9
324.0363.035
62544 73736
5.356787957
54
636159595754
5.5555.55.4545.5
555454545257
5.65352525.251
Total
385.7
534.2333.155
4.34 24.36253
53655.5585.5
5.04.346434.2
546.3595.361
8679736259
6569837965
64
6.768676.76564
6.4666.56.6636.3
6.6636.5656565
6.46264626.161
Females
16-19years
104
9.19795
127120
12714812.8151149
14.012111512111.5
13415.1142130145
174164159144140
148166190183152
148
145167163158153152
12.815615.715.013815.2
153140147145151152
15.013014415315.1155
20yearsandover
51
3.937385647
46574 74846
4.033383434
445.3494351
7 568625250
5659736958
57
605959595856
5.8585.75.9575.6
595759585858
5.75757555.454
Total
"ibT94
105
148140140128123
143156189195159
151
17.216216616.6158156
16.615915.015.314915.1
15.1160152152154144
15.014115214915.6149
Total
""93"8.098
148137133118114
14515720 1203164
153
17.216617317416116.6
17.516115.515.514715.6
15.3162154153153145
15.113715415816.0153
Males
16-19years
""317278331
381375392367342
37.5407489488427
410
45.546044443.842038.5
42.441 140.843.941243.5
43.940941.139439.3410
43.134941 141045.2410
Black
20yearsandover
.....„.„.
6074
1251141079393
124135178181143
132
15.214415215.414114.9
15.614213.513.312.613.4
12.914213.313313.4125
12.811913313713.7131
Total
"iis11.1113
14814.3149138133
14.015.617618.615.4
14.9
17.115.815915.715.514.6
15.715714.515.015.214.6
14.815.815.015015.5144
14.914.514913.915.214.5
Females
16-19years
'"465"36.1374
41041.643440839.1
39.842.247148.242.6
39.2
48.839.348.645.847.338.1
42.242.843.836.841.138.9
38.943.341.939.341.537.8
39.035.936.138.236.042.3
20yearsandover
.........
8888
12211.712311.210.9
11913.415416513.5
131
14914?13.813fi1351?8
13.713.712.4134134130
130137nn13?13512.7
13.113113.51?11361?6
1 Unemployed as percent of civilian labor force in group specified.Note.—See footnote 5 and Note, Table B-31.Source: Department of Labor, Bureau of Labor Statistics.
296
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-39.—Unemployment insurance programs, selected data, 7955-8.5
Year or month
195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984
1984: JanFebMarAprMayJuneJulyAugSeptOctNovDec
1985-. JanFebMarAprMayJuneJulyAugSept ,.OctNovDec .
All programs
Coveredemploy-ment1
Insuredunemploy-
ment(weekly
aver-age)"
Thousands
40,01842,75143,43644,41145,72846,33446,26647,77648,43449,63751,58054,73956,34257,97759,99959,52659,37566,45869,89772,45171,03773,45976,41988,80492,06292,65993,30091,62891,8988 96,474
1,3991,3231,5712,7731,8602,0712,9941,9467 1,9731,7531,4501,1291,2701,1871,1772,0702,6082,1921,7932,5584,9373,8463,3082,6452,5923,8373,4104,5943,7752,565
3,3743,1742,9582,6132,2902,1662,3272,1842,0832,1492,4412,778
3,3613,3393,1132,7662,4552,3372,5232,3612,2122,2272,468
Totalbenefits
paid(millions
ofdollars) 2 4
1,560.21,540.61,913.04,290.62,854.33,022.84,358.13,145.13,025.92,749.22,360.41,890.92,221.52,191.02,298.64,209.36,154.05,491.14,517.36,933.9
16,802.412,344.810,998.99,006.99,401.3
16,175.415,287.123,774.820,206.213,109.6
1,515.51,455.41,425.21,207.31,131.7
966.91,003.71,040.9
851.0998.4
1,047.11,163.1
1,556.11,495.61,483.71,379.51,258.41,035.91,197.31,123.21,000.91,105.51,052.6
State programs
Insuredunem-
ploymentInitialclaims
Exhaus-tions 6
Weekly average; thousands
1,2651,2151,4462,5101,6841,9082,2901,783
7 1,8061,6051,3281,0611,2051,1111,1011,8052,1501,8481,6322,2623,9862,9912,6552,3592,4343,3503,0474,0613,3962,474
2,6102,5252,4892,4302,3822,3652,3972,3562,3902,4252,5092,487
2,6072,6812,6392,5872,5752,5482,5972,5332,5292,5192,5482,574
226227270369211331350302
7 298268232203226201200296295261247363478386375346388488460583438378
373354352362353362378366372393395386
394406392390386396390382381375384390
252023503331463230262115171616253935293781635539395957808050
615857585448494543424244
5052555852495146436343
insuredunemploy-ment aspercent
ofcoveredemploy-
ment
3.53.23.66.44.44.85.64.44.33.83.02.32.52.22.13.44.13.52.73.56.04.63.93.32.93.93.54.63.92.8
3.02.92.92.82.82.72.82.72.82.82.92.8
2.93.03.02.92.82.82.82.82.82.72.82.8
Benefits paid
Total(millions
ofdollars) 4
1,350.31,380.71,733.93,512.72,279.02,726.73,422.72,675.42,774.72,522.12,166.01,771.32,092.32,031.62,127.93,848.54,957.04,471.04,007.65,974.9
11,754.78,974.58,357.27,717.28,612.9
13,761.113,262.120,650.017,762.812,594.7
1,457.91,400.41,368.01,160.91,100.8
935.2972.8
1,013.7826.9967.9
1,009.91,114.8
1,505.31,450.21,439.21,333.71,221.91,008.51,167.31,091.4
970.51,073.41,017.6
Averageweeklycheck
(dollars) 6
25.0427.0228.1730.5830.4132.8733.8034.5635.2735.9237.1939.7541.2543.4346.1750.3454.0256.7659.0064.2570.2375.1678.7983.6789.6798.95
106.70119.37123.59123.47
123.60124.29124.64125.20123.85122.19120.13120.54122.04123.56124.39125.36
126.68127.28128.98127.55126.34125.73125.04126.13127.19128.20126.64
**Monthly data are seasonally adjusted.1 Includes persons under the State, UCFE (Federal employee, effective January 1955), and RRB (Railroad Retirement Board) programs.
Beginning October 1958, also includes the UCX program (unemployment compensation for ex-servicemen).2 Includes State, UCFE, RR, UCX, UCV (unemployment compensation for veterans, October 1952-January 1960), and SRA
(Servicemen's Readjustment Act, September 1944-September 1951) programs. Also includes Federal and State extended benefitprograms. Does not include FSB (Federal supplemental benefits), SUA (special unomployment assistance), and Federal SupplementalCompensation programs.
3 Covered workers who have completed at least 1 week of unemployment.4 Annual data are net amounts and monthly data are gross amounts.5 Individuals receiving final payments in benefit year.6 For total unemployment only.7 Programs include Puerto Rican sugarcane workers for initial claims and insured unemployment, beginning July 1963.8 Latest data available for all programs combined. Workers covered by State programs account for about 97 percent of wage and
salary earners.
Source: Department of Labor, Employment and Training Administration.
297
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TABLE B-40.—Employees on nonagricultural payrolls, by major industry, 1939-85
[Thousands of persons; monthly data seasonally adjusted]
Year or month
1939
19401941.19421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
198019811982198319841985 ".
1984: Jan.Feb.Mar.AprMayJune.
July.Aug.Sept.OctNov.Dec ,
1985: Jan .. . .FebMar .AprMay .June
JulyAug . . .SeptOctNov "Dec".
Total
30,603
32,36136,53940,10642,43441,86440,37441,65243,85744,86643,754
45,19747,81948,79350,20248,99050,64152,36952,85351,32453,268
54,18953,99955,54956,65358,28360,76563,90165,80367,89770,384
70,88071,21473,67576,79078,26576,94579,38282,47186,69789,823
90,40691,15689,56690,19694,46197,692
92,60393,11593,38793,72593,99894,317
94,61594,89395,23895,57395,88296,092
96,41996,59196,91097,12097,42197,473
97,70797,97798,21798,55998,73999,059
Goods-producing industries
Total
12,297
13,22115,96318,47020,11419,32817,50717,24818,50918,77417,565
18,50619,95920,19821,07419,75120,51321,10420,96419,51320,411
20,43419,85720,45120,64021,00521,92623,15823,30823,73724,361
23,57822,93523,66824,89324,79422,60023,35224,34625,58526,461
25,65825,49723,81323,33424,73025,054
24,23424,46424,50724,60324,67024,767
24,84224,88924,85124,91824,95525,045
25,11225,06225,05625,09025,06625,010
24,98025,01524,96225,05125,07625,136
Mining
854
925957992925892836862955994930
901929898866791792822828751732
712672650635634632627613606619
623609628642697752779813851958
1,0271,1391,128952974969
963965966967973978
979984985979978973
974976977982982974
969965962960953952
Con-struction
1,165
1,3111,8142,1981,5871,1081,1471,6832,0092,1982,194
2,3642,6372,6682,6592,6462,8393,0392,9622,8173,004
2,9262,8592,9483,0103,0973,2323,3173,2483,3503,575
3,5883,7043,8894,0974,0203,5253,5763,8514,2294,463
4,3464,1883,9053,9484,3454,661
4,1924,3084,2654,2894,3074,344
4,3544,3664,3864,4034,4244,469
4,5344,5254,5534,6414,6584,638
4,6604,6884,7214,7534,7484,764
Manufacturing
Total
10,278
10,98513,19215,28017,60217,32815,52414,70315,54515,58214,441
15,24116,39316,63217,54916,31416,88217,24317,17415,94516,675
16,79616,32616,85316,99517,27418,06219,21419,44719,78120,167
19,36718,62319,15120,15420,07718,32318,99719,68220,50521,040
20,28520,17018,78118,43419,41219,424
19,07919,19119,27619,34719,39019,445
19,50919,53919,48019,53619,55319,603
19,60419,56119,52619,46719,42619,398
19,35119,36219,27919,33819,37519,420
Durablegoods
4,715
5,3636,9688,82311,08410,8569,0747,7428,3858,3267,489
8,0949,0899,34910,1109,1299,5419,8339,8558,8299,373
9,4599,0709,4809,6169,81610,40511,28211,43911,62611,895
11,20810,63611,04911,89111,92510,68811,07711,59712,27412,760
12,18712,10911,03910,73211,52211,565
11,23211,32211,39011,43811,48511,538
11,58911,63811,61111,65211,66611,701
11,70211,67511,65111,60811,58611,560
11,50911,51911,44911,49311,50711,525
Nondur-ablegoods
5,564
5,6226,2256,4586,5186,4726,4506,9627,1597,2566,953
7,1477,3047,2847,4387,1857,3417,4117,3217,1167,303
7,3377,2567,3737,3807,4587,6567,9308,0078,1558,272
8,1587,9878,1028,2628,1527,6357,9208,0868,2318,280
8,0988,0617,7417,7027,8907,859
7,8477,8697,8867,9097,9057,907
7,9207,9017,8697,8847,8877,902
7,9027,8867,8757,8597,8407,838
7,8427,8437,8307,8457,8687,895
See next page for continuation of table.
298
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TABLE B-40.—Employees on nonagriculturalpayrolls, by major industry, 1939-85—Continued
[Thousands of persons; monthly data seasonally adjusted]
Year or month
1939
1940194119421943194419451946... .194719481949
1950195119521953195419551956195719581959
I960.. ..1961 v1962.1963196419651966 .196719681969
1970197119721973197419751976197719781979
198019811982198319841985 p
1984- JanFebMarAprMayJuneJulyAugSeptOctNovDec
1985- JanFebMarAprMayJune
JulyAugSeptOct
Dec p
Service-producing industries
Total
18,306
19,14020,57421,63622,32022,53622,86724,40425,34826,09226,189
26,69127,86028,59529,12829,23930,12831,26631,88931,81132,857
33,75534,14235,09836,01337,27838,83940,74342,49544,16046,023
47,30248,27850,00751,89753,47154,34556,03058,12561,11363,363
64,74865,65965,75366,86269,73172,638
68,36968,65168,88069,12269,32869,550
69,77370,00470,38770,65570,92771,047
71,30771,52971,85472,03072,35572,463
72,72772,96273,25573,50873,66373,923
Trans-portation
andpublic
utilities
2,936
3,0383,2743,4603,6473,8293,9064,0614,1664,1894,001
4,0344,2264,2484,2904,0844,1414,2444,241
' 3,9764,011
4,0043,9033,9063,9033,9514,0364,1584,2684,3184,442
4,5154,4764,5414,6564,7254,5424,5824,7134,9235,136
5,1465,1655,0824,9545,1715,301
5,0945,1035,1265,1355,1455,164
5,1745,1945,2105,2235,2295,246
5,2595,2725,2695,2785,3015,295
5,3025,2825,3175,3275,3415,358
Whole-sale
trade
1,762
1,8351,9601,9061,8221,8451,9492,2912,4712,6052,602
2,6352,7272,8122,8542,8672,9263,0183,0282,9803,082
3,1433,1333,1983,2483,3373,4663,5973,6893,7793,907
3,9934,0014,1134,2774,4334,4154,5464,7084,9695,204
5,2755,3585,2785,2685,5505,770
5,4225,4595,4785,4995,5165,532
5,5575,5735,6105,6365,6475,665
5,6865,6975,7145,7335,7485,768
5,7735,7915,8055,8305,8345,855
Retailtrade
4,664
4,9145,2515,2125,1605,2145,3656,0846,4856,6676,662
6,7517,0157,1927,3937,3687,6107,8407,8587,7708,045
8,2488,2048,3688,5308,8239,2509,6489,917
10,32010,798
11,04711,35111,83612,32912,55412,64513,20913,80814,57314,989
15,03515,18915,17915,61316,58417,418
16,13816,23716,29616,38516,44316,534
16,62316,67316,75016,85916,99417,026
17,09017,16017,24917,28017,39217,425
17,45317,51417,53917,61017,62117,648
Finance,insur-ance,
and realestate
1,447
1,4851,5251,5091,4811,4611,4811,6751,7281,8001,828
1,8881,9562,0352,1112,2002,2982,3892,4382,4812,549
2,6292,6882,7542,8302,9112,9773,0583,1853,3373,512
3,6453,7723,9084;0464,1484,1654,2714,4674,7244,975
5,1605,2985,3415,4685,6825,924
5,5885,6075,6275,6395,6535,680
5,6935,7075,7195,7375,7555,776
5,7905,8095,8355,8585,8885,906
5,9325,9595,9876,0116,0466,066
Services
3,502
3,6653,9054,0664,1304,1454,2224,6975,0255,1815,240
5,3575,5475,6995,8355,9696,2406,4976,7086,7657,087
7,3787,6207,9828,2778,6609,0369,498
10,04510,56711,169
11,54811,79712,27612,85713,44113,89214,55115,30316,25217,112
17,89018,61919,03619,69420,76121,931
20,25920,35820,46320,54620,62820,707
20,76620,84921,01421,08721,18421,252
21,38221,48021,64421,72321,81321,856
21,92622,07322,15522,24422,35822,473
Government
Total
3,995
4,2024,6605,4836,0806,0435,9445,5955,4745,6505,856
6,0266,3896,6096,6456,7516,9147,2787,6167,8398,083
8,3538,5948,8909,2259,596
10,07410,78411,39111,83912,195
12,55412,88113,33413,73214,17014,68614,87115,12715,67215,947
16,24116,03115,83715,86915,98416,294
15,86815,88715,89015,91815,94315,933
15,96016,00816,08416,11316,11816,082
16,10016,11116,14316,15816,21316,213
16,34116,34316,45216,48616,46316,523
Federal
905
9961,3402,2132,9052,9282,8082,2541,8921,8631,908
1,9282,3022,4202,3052,1882,1872,2092,2172,1912,233
2,2702,2792,3402,3582,3482,3782,5642,7192,7372,758
2,7312,6962,6842,6632,7242,7482,7332,7272,7532,773
2,8662,7722,7392,7742,8072,873
2,7782,7822,7912,7952,8062,802
2,8052,8122,8272,8232,8312,836
2,8362,8342,8502,8592,8732,872
2,8782,8862,9042,8922,8922,899
Stateandlocal
3,090
3,2063,3203,2703,1753,1163,1373,3413,5823,7873,948
4,0984,0874,1884,3404,5634,7275,0695,3995,6485,850
6,0836,3156,5506,8687,2487,6968,2208,6729,1029,437
9,82310,18510,64911,06811,44611,93712,13812,39912,91913,174
13,37513,25913,09813,09613,17713,421
13,09013,10513,09913,12313,13713,131
13,15513,19613,25713,29013,28713,246
13,26413,27713,29313,29913,34013,341
13,46313,45713,54813,59413,57113,624
Note.— Data in Tables B-40 through B-42 are based on reports from employing establishments and relate to f u l l - and part-time wageand salary workers in nonagricul tural establishments who worked dur ing or received pay for any part of the pay period which includesthe 12th of the month. Not comparable with labor force data (Tables B-31 through B-38), which include proprietors, self-employed. , ,persons, domestic servants, and unpaid family workers; which count persons as emptoyed 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.
299Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-41.—Average weekly hours and hourly earnings in selected private nonagricultural industries,
1947-85
[For production or nonsupervisory workers; monthly data seasonally adjusted, except as noted]
Year ormonth
1947194819491950195119521953.195419551956.195719581959. .196019611962.19631964.1965196619671968196919701971 ,197219731974197519761977197819791980.19811982198319841985 P.
1984: Jan ....Feb....Mar....Apr....May ...June...July....Aug....Sept...Oct....Nov....Dec....
1985: Jan ....Feb...Mar...
fcJune..July...Aug...Sept..Oct ...Nov.Decp.
Average weekly hours
Totalprivate
non-agricul-tural *
40.340.039.439.839.939.939.639.139.639.338.838.539.038.638.638.738.838.738.838.638.037.837.737.136.937.036.936.536.136.136.035.835.735.335.234.835.035.335,1
35.335.435.235.435.335.335.335.235.335.235.235.2
35.135.135.235.035.135.135.035.135.135.135.035.1
Manufac-turing
40.440.039.140.540.640.740.539.640.740.439.839.240.339.739.840.440.540.741.241.440.640.740.639.839.940.540.740.039.540.140.340.440.239.739.838.940.140.740.5
40.841.140.741.040.740.640.540.540.640.540.540.6
40.640.140.440.240.440.440.340.640.740.740.741.0
Con-struction
38.238.137.737.438.138.937.937.237.137.537.036.837.036.736.937.037.337.237.437.637.737.337.937.337.236.536.836.636.436.836.536.837.037.036.936.737.137.737.7
37.738.337.037.737.637.837.537.637.937.738.037.8
37.737.838.138.037.637.237.637.537.937.937.537.2
Retailtrade
40.340.240.440.440.439.839.139.239.038.638.138.138.238.037.637.437.337.036.635.935.334.734.233.833.733.433.132.732.432.131.631.030.630.230.129.929.830.029.7
30.130.130.030.130.130.130.029.929.929.829.929.9
29.829.829.829.729.929.929.729.629.629.529.529.3
Average gross hourly earnings,current dollars
Totalprivate
non-agricul-tural *
$1.1311.2251.2751.3351.451.521.611.651.711.801.891.952.022.092.142.222.282.362.462.562.682.853.043.233.453.703,944.244.534.865.255.696.166.667.257.688.028.338.58
8.218.238.258.308.298.328.358.358.408.388.428.47
8.448.498.528.548.558.598.578.608.658.648.678.75
Manufac-turing
$1.2161.3271.3761.4391.561.641.741.781.851.952.042.102.192.262.322.392.452.532.612.712.823.013.193.353.573.824.094.424.835.225.686.176.707.277.998.498.839.189.52
9.049.079.109.129.139.169.199.229.249.289.319.35
9.389.419.439.489.499.519.539.569.569.589.619.65
Con-struction
$1.5401.7121.7921.8632.022.132.282.382.452.572.712.822.933.073.203.313.413.553.703.894.114.414.795.245.696.066.416.817.317.718.108.669.279.94
10.8211.6311.9412.1212.26
12.0712.0212.0712.1012.1412.1412.1312.1412.1512.1412.1612.20
12.2012.2712.2212.2612.2512.2312.2312.2612.3012.2612.2612.33
trade
$0.838.901.951.983
1.061.091.161.201.251.301.371.421.471.521.561.631.681.751.821.912.012.162.302.442.602.752.913.143.363.573.854.204.534.885.255.485.745.885.97
5.845.835.855.865.865.875.885.875.895.905.935.93
5.925.945.955.945.965.945.955.966.005.996.006.03
Adjusted hourly earnings, totalprivate nonagricultural 2
Index,1977 = 100
Currentdollars
21.623.424.525.427.328.730.331.332.434.035.737.238.539.841.042.443.644.846.448.450.853.957.561.365.769.874.180.086.792.9
100.0108.2116.8127.3138.9148.5155.4160,7165.5
158.6158.7159.3160.1159.9160.5161.0160.8161.7161.6162.3163.4
163.0164.0164.4164.8164.9165.7165.4165.7166.7166.4167.1168.4
1977dollars3
58.558.962.364.063.665.568.770.573.375.976.978.080.081.483.085.086.387.589.090.392.294.095.095.798.3
101.2101.198.397.699.0
100.0100.597.493.592.693.494.994.894.3
94.994.995.195.595.095.295.294.294.394.194.594.9
94.594.794.594.494.394.594.394.394.794.394.194.6
Percent changefrom a year
earlier4
Currentdollars
8.34.73.77.55.15.63.33.54.95.04.23.53.43.03.42.82.83.64.35.06.16.76.67.26.26.28.08.47.27.68.27.99.0916.94.63.43.0
3.83.43.73.83.33.53.43.43.52.83.13.4
2.73.33.22.93.13.22.73.03.03.03.03.1
1977dollars
0.75.82.7
63.04.92.64.03.51.31.42.61.82.02.41.51.41.71.52.12.01.2
.72.73.0-.1
-2.8-.71.41,0.5
-3.1-4.0-1.0
.91.6-.1-.5
.1-.4
.1
.7
.2
.4
.3-.2-.3-.8-.3-.1
-.5-.2-.7
-1.2-.9-.8
-1.0.0.4.1
_ 5-'.5
1 Also includes other private industry groups shown in Table B-40.2 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=100base.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-40.Source: Department of Labor, Bureau of Labor Statistics.
300
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-42.—Average weekly earnings in selected private nonagricultural industries, 1947-85
[For production or nonsupervisory workers; monthly data seasonally adjusted, except as noted]
Year or month
194719481949
19501951....19521953....1954
19551956195719581959
I960...19611962....19631964....
19651966196719681969
19701971197219731974
197519761977. .19781979
19801981198219831984
1985"
1984:JanFebMarAprMayJune
JulyAugSeptOctNovDec
1985-. JanFebMarAprMayJune
JulyAugSeptOctNov"Decp
Average gross weekly earnings
Total privatenonagricul tural J
Currentdollars
$45.5849.0050.24
53.1357.8660.6563.7664.52
67.7270.7473.3375.0878.78
80.6782.6085.9188.4691.33
95.4598.82
101.84107.73114.61
119.83127.31136.90145.39154.76
163.53175.45189.00203.70219.91
235.10255.20267.26280.70294.05
301.16
289.81291.34290.40293.82292.64293.70
294.76293.92296.52294.98296.38298.14
296.24298.00299.90298.90300.11301.51
299.95301.86303.62303.26303.45307.13
1977dollars2
$123.52123.43127.84
133.83134.87138.47144.58145.32
153.21157.90158.04157.40163.78
164.97167.21172.16175.17178.38
183.21184.37184.83187.68189.44
186.94190.58198.41198.35190.12
184.16186.85189.00189.31183.41
172.74170.13168.09171.26173.48
171.60
173.33174.14173.48175.21173.88174.30
174.31172.19172.80171.80172.62173.14
171.73172.15172.46171.19171.59172.00
171.01171.80172.51171.82170.96172.16
Manufac-turing
(currentdollars)
$49.1353.0853.80
58.2863.3466.7570.4770.49
75.3078.7881.1982.3288.26
89.7292.3496.5699.23
102.97
107.53112.19114.49122.51129.51
133.33142.44154.71166.46176.80
190.79209.32228.90249.27269.34
288.62318.00330.26354.08373.63
385.56
368.83372.78370.37373.92371.59371.90
372.20373.41375.14375.84377.06379.61
380.83377.34380.97381.10383.40384.20
384.06388.14389.09389.91391.13395.65
Construc-tion
(currentdollars)
$58.8365.2367.56
69.6876.9682.8686.4188.54
90.9096.38
100.27103.78108.41
112.67118.08122.47127.19132.06
138.38146.26154.95164.49181.54
195.45211.67221.19235.89249.25
266.08283.73295.65318.69342.99
367.78399.26426.82442.97456.92
462.20
455.04460.37446.59456.17456.46458.89
454.88456.46460.49457.68462.08461.16459.94463.81465.58465.88460.60454.96
459.85459.75466.17464.65459.75458.68
Retailtrade
(currentdollars)
$33.7736.2238.42
39.7142.8243.3845.3647.04
48.7550.1852.2054.1056.15
57.7658.6660.9662.6664.75
66.6168.5770.9574.9578.66
82.4787.6291.8596.32
102.68
108.86114.60121.66130.20138.62
147.38158.03163.85171.05176.40
177.31
175.78175.48175.50176.39176.39176.69
176.40175.51176.11175.82177.31177.31
176.42177.01177.31176.42178.20177.61
176.72176.42177.60176.71177.00176.68
Percent change froma year earlier, total
privatenonagr icu l tura l 3
Currentdollars
7.52.5
5.88.94.85.11.2
5.04.53.72.44.9
2.42.44.03.03.2
4.53.53.15,86.4
4.66.27.56.26.4
5.77.37.77.88.0
6.98.54.75.04.8
2.4
5.56.55.55.84.74.9
4.84.94.42.83.34.0
2.02.13.32.12.42.8
1.82.62.43.02.42.9
1977dollars
-0.13.6
4.7.8
2.74.4
.5
5.43.1
.1-.44.1
.71.43.01.71.8
2.7.6.2
1.5.9
-1.31.94.1-.0
-4.1
-3.11.51.2
.2-3.1
-5.8-1.5-1.2
1.91.3
.-1.1
1.82.61.92.61.51.8
1.61.2.6
-.8-.1
.4
-1.2-1.3-.6
-2.0-1.5-1.2
-1.9-.4-.3
.1-1.0-.7
1 Also includes other private industry groups shown in Table B-40.2 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-40.Source: Department of Labor, Bureau of Labor Statistics.
301
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-43.—Productivity and related data, business sector, 1947-85
[1977 = 100; quarterly data seasonally adjusted]
Year orquarter
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985 P
1982:1III l lIV
1983:1I II l lIV
1984:1I II l lIV
1985:1I II l lIV...
Output per hourof all persons
Busi-ness
sector
45.147.047.8
51.653.955.557.758.6
60360.762.364.366.4
67569.972475.378.5
80983.185.387.687.7
88.391.294.195993.9
95.798.3
100.0100.8
99.6
99.2100.7100.3102.9105.0
105.3
99.8100.2100.3101.1
102.1103.2102.9103.5
104.7105.2105.1104.9
105.0105.2105.7105.3
Nonfarmbusiness
sector
51.653.154.3
57.759.660.962.363.2
65064.966.267.970.1
70973.175578.281.3
83385.187.089.388.9
89.191.894.796494.3
96.098.5
100.0100.8
99.2
98.899.899.2
102.6104.3
104.2
98.899.199.199.8
101.3102.9103.1103.1
103.9104.6104.3104.0
104.1104.3104.4103.9
Output »
Busi-ness
sector
36.438.237.5
41.044.045.447.646.8
49950.951.550.754.4
55456.459462.165.8
70073.675.678.981.1
80.382.587.793091.3
89.494.6
100.0105.8107.8
106.6108.9105.5110.0119.0
122.3
106.0105.9105.1105.0
106.6109.3110.8113.4
117.1119.2119.6120.1
121.2121.9122.6123.4
Nonfarmbusinesssector
35.437.136.4
39.943.144.546.645.7
48850.050.749.853.6
54555.658761.465.3
69573.475.378.880.9
80.082.287.592991.2
89.194.4
100.0105.9107.9
106.7108.5104.9110.2118.9
122.2
105.4105.5104.5104.2
106.2109.3111.4113.8
117.1119.2119.5120.0
121.1121.8122.6123.3
Hours of allpersons 2
Busi-ness
sector
80.681.278.5
79.481.781.882.579.8
82784.082.778.881.9
82080.782082.583.8
86588.688.690.192.4
90.990.593.3969973
93.496.1
100.0104.9108.3
107.5108.2105.2106.9113.4
116.1
106.2105.8104.8103.9
104.4105.9107.7109.5
111.8113.3113.8114.5
115.5115.9116.0117.2
Nonfarmbusinesssector
68.669.867.1
69.172.373.174.872.3
75277.076.673.376.5
76976.111178.680.4
83486.386.588.291.0
89.889.592.3963967
92.895.9
100.0105.1108.7
108.0108.7105.8107.4114.1
117.3
106.7106.4105.4104.5
104.8106.2108.1110.3
112.7113.9114.5115.4
116.3116.7117.4118.7
Compensation perhour3
Busi-ness
sector
16.618.018.4
19.721.623.024.525.3
26027.729.530.932.2
33634.936537.939.9
41 444.346.750.353.8
57.761.565.570977.6
85.292.8
100.0108.5119.1
131.5143.7154.9161.5167.8
174.5
151.2153.8156.6158.3
160.0160.8161.5163.8
165.9166.8168.5170.0
171.9173.5175.4177.2
Nonfarmbusinesssector
18.019.620.2
21.423.324.626.026.8
27829.531.232.433.8
35336.437939.341.1
42445.047.451.054.3
58.161.966.071 278^0
85.692.8
100.0108.6118.9
131.3143.6154.8162.1168.1
174.3
151.2153.5156.3158.2
160.4161.6162.4163.9
165.9167.4168.8170.1
172.1173.7174.9176.5
Real compensationper hour4
Busi-ness
sector
45.145.546.7
49.650.552.555.657.1
58761.763.664.767.0
68870.773275.077.9
79582.684.787.689.0
90.192.094.996795'.4
95.998.7
100.0100.8
99.4
96.795.797.398.297.9
98.3
96.897.297.297.9
98.998.397.798.2
98.197.797.897.9
98.298.198.698.6
Nonfarmbusinesssector
48.949.351.3
53.954.356.058.860.5
62865.767.268.070.3
72273.875977.780.2
81583.986.188.889.8
90.792.695.797 195.9
96.498.8
100.0100.9
99.2
96.695.797.298.698.1
98.2
96.897.097.097.9
99.198.898.398.2
98.198.198.097.9
98.398.298.398.2
Unit labor costs
Busi-ness
sector
36.938.438.4
38.140.141.442.643.2
43145.747.448.048.5
49849.950550.450.8
51253.354.757.461.4
65.467.469.673982.7
89.094.3
100.0107.7119.6
132.6142.7154.5157.0159.8
165.7
151.6153.5156.1156.6
156.7155.9157.0158.3
158.5158.5160.3162.1
163.8164.9166.0168.2
i
Nonfarmbusinesssector
34.936.837.1
37.139.040.441.742.4
42845.447.147.848.2
49849.850250.250.5
51052.854.557.161.2
65.267.469.773982.7
89.294.2
100.0107.7119.8
132.9144.0156.0158.0161.2
167.2
153.1154.8157.6158.5
158.3157.1157.6158.9
159.7160.0161.8163.6
165.3166.5167.6169.8
Implicit pricedeflator5
Busi-ness
sector
35.338.137.7
38.440.641.241.541.9
43144.746.346.947.8
48548.849750.250.7
51853.654.957.460.4
63.266.469.073480.5
88.794.0
100.0107.3117.0
127.6139.8148.1153.0158.7
163.0
145.7147.3149.3150.2
151.1152.0153.7154.9
156.6158.0159.4160.8
161.6162.7163.5164.6
Nonfarmbusiness
sector
33.836.536.8
37.539.540.340.941.5
42944.646.246.647.8
48548.849750.250.8
51953.555.057.560.4
63.466.669.072379.7
88.393.8
100.0107.0116.5
127.8140.3149.2154.2159.6
164.8
146.8148.2150.3151.4
152.3153.6154.8156.1
157.1158.8160.5161.9
163.0164.5165.5166.4
1 Output refers to gross domestic product originating in the sector in 1982 dollars.2 Hours of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates based primarily on
establishment data.3 Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Also includes an
estimate of wages, salaries, and supplemental payments for the self-employed.4 Hourly compensation divided by the consumer price index for all urban consumers.5 Current dollar gross domestic product divided by constant dollar gross domestic product.
Note.—Data reflect the comprehensive revision in the national income and product accounts.Source: Department of Labor, Bureau of Labor Statistics.
302
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-44.—Changes in productivity and related data, business sector, 1948-85
[Percent change from preceding period; quarterly data at seasonally adjusted annual rates]
Year or quarter
19481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985"
1982- 1(IIllIV
1983:1IIIllIV
1984:1IIIllIV
1985:1IIIllIV
Output per hourof ail persons
Businesssector
4.21.6
8.14.43.03.81.7
2.8.7
2.73.23.3
1.73.53.64.04.3
3.02.82.72.7.1
.73.23.22.0
-2.1
2.02.81.7.8
-1.2
-.31.5
-.42.62.1
.3
-.31.5.4
3.2
4.24.4
-1.22.5
4.62.1-.5-.7
.1
.91.9
-1.3
Nonfarmbusinesssector
2.92.2
6.23.42.12.31.5
2.7-.12.02.63.2
1.13.23.33.63.9
2.52.12.32.6
-.5
.33.03.21.8
-2.2
1.82.61.5.8
-1.6
-.41.0
-.63.41.6
-.0'
01.4.1
2.6
6.36.3
.6
.4
3.02.9
-1.2-1.2
.5
.7
.3-1.8
Output >
Businesssector
5.0-1.8
9.37.53.14.8
-1.8
6.62.21.2
-1.67.3
1.81.95.24.66.0
6.35.22.74.42.7
-.92.76.36.0
-1.8
-2.15.85.85.81.9
-1.12.1
-3.14.38.2
2.8
-5.5-.2
-3.1-.4
6.310.55.89.5
13.67.51.31.7
3.62.32.52.5
Nonfarmbusinesssector
4.7-1.7
9.48.13.24.8
-1.9
6.92.414
-1.87.7
1.72.05.54.76.3
6.45.62.64.72.7
-1.02.76.46.2
-1.8
-2.36.05.95.91.8
-1.11.7
-3.35.08.0
2.8
-5.3.2
-3.4-1.2
7.612.27.99.0
12.17.21.21.8
3.62.32.62.6
Hours of allpersons 2
Businesssector
0.8-3.4
1.12.9.1.9
-3.4
3.71.515
-4.73.9
.1-1.6
1.6.6
1.6
3.22.401.72.6
-1.6-.53.03.9
.3
-4.02.94.04.93.2
-.8.7
-2.71.76.0
2.4
-5.2-1.6-3.5-3.5
2.05.97.16.8
8.75.41.82.4
3.41.4.6
3.9
Nonfarmbusinesssector
1.7-3.9
3.04.61.02.4
-3.4
4.12.5- 6
-4.34.4
.6-1.1
2.11.12.3
3.83.4
.32.03.2
-1.3-.33.14.3
.4
-4.03.44.35.13.5
-.7.7
-2.71.56.3
2.8
-5.3-1.2-3.5-3.7
1.25.57.38.6
8.84.22.43.1
3.01.62.24.5
Compensation perhour3
Businesssector
8.51.7
7.39.86.36.73.2
2.56.7654.64.3
4.33.84.73.85.2
3.86.95.47.97.0
7.36.46.68.39.5
9.78.97.88.59.7
10.59.27.84.33.9
4.0
10.46.87.54.5
4.42.11.75.8
5.22.14.23.7
4.53.84.54.1
Nonfarmbusinesssector
8.53.0
6.18.75.65.73.3
3.66.2574.14.1
4.43.34.13.54.6
3.45.95.57.66.6
7.06.56.77.99.6
9.78.47.78.69.5
10.59.47.74.73.7
3.7
10.56.17.55.0
5.63.21.83.8
5.03.73.43.1
4.83.82.83.5
Real compensationper hour4
Businesssector
0.72.7
6.31.74.05.92.8
2.85.1301.83.5
2.72.73.52.53.8
2.13.92.53.51.5
1.22.13.21.9
-1.3
.52.91.3.8
-1.4
-2.7-1.0
1.61.0
-.4
.5
6.51.3.2
3.0
4.0-2.2-2.4
1.7
-,1-1.6
.5
.2
1.2-.42.0
.0
Nonfarmbusinesssector
0.84.0
5.1.7
3.34.92.8
3.94.62 21.33.3
2.82.22.92.33.3
1.72.92.63.21.1
1.02.13.31.6
-1.3
.52.51.2.9
-1.6
-2.7-.91.51.5
-.5
.1
6.5.6.2
3.6
5.2-1.1-2.3
-.3-.1-.3_ 5
1.5-.3
.4-.5
Unit labor costs
Businesssector
4.1.1
-.75.23.12.81.6
-.36.03 71.41.0
2.6.3
1.1-.2
.8
.94.12.65.06.9
6.53.13.36.2
11.9
7.65.96.07.7
11.1
10.87.78.21.61.8
3.7
10.85.37.01.3
.2-2.1
2.93.2
.604.64.5
4.42.82.55.5
Nonfarmbusinesssector
5.5.8
-.15.23.43.31.7
.96.23 71.4.9
3.3.1.8
-.1.7
.83.73.14.87.1
6.63.33.46.0
12.0
7.85.76.17.7
11.2
11.08.38.41.32.0
3.7
10.54.67.42.4
-.7-2.9
1.23.5
1.9.8
4.74.4
4.33.12.55.4
Implicit pricedeflator5
Businesssector
8.0-1.1
1.75.91.4.6
1.1
2.83.83 41.42.0
1.4.5
1.9.9
1.0
2.33.32.54.65.1
4.74.94.06.49.6
10.35.96.47.39.1
9.09.65.93.33.8
2.7
5.54.65.62.4
2.32.64.43.3
4.43.73.63.5
2.12.82.02.7
Nonfarmbusinesssector
8.1.8
2.05.22.11.61.5
3.44.0351.02.6
1.4.6
2.0.9
i:2
2.03.12.94.65.0
4.95.03.64.8
10.2
10.86.36.67.08.9
9.79.76.33.43.5
3.3
5.44.15.73.0
2.43.33.33.4
2.44.44.43.6
2.73.72.62.0
1 Output refers to gross domestic product originating in the sector in 1982 dollars.2 tours of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates based primarily on
establishment data.3 Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Also includes an
estimate of wages, salaries, and supplemental payments for the self-employed.4 Hourly compensation divided by the consumer price index for all urban consumers.5 Current dollar gross domestic product divided by constant dollar gross domestic product.
Note.—Data relate to all persons engaged in the sector. Percent changes are based on original data and therefore may differ slightlyfrom percent changes based on indexes in Table B-43.
Data reflect the comprehensive revision in the national income and product accounts.Source: Department of Labor, Bureau of Labor Statistics.
303
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
PRODUCTION AND BUSINESS ACTIVITY
TABLE B-45.—Industrial production indexes, major industry divisions, 1939-85
[1977 = 100; monthly data seasonally adjusted]
Year or monthTotal
industrialproduction
Manufacturing
Total Dura-ble
Non-durable
Min-ing
Utili-ties
1977 proportion 100.0
1939 16.01940 18.41941 23.31942 26.71943 32.41944 , 34.91945 29.91946 25.81947 29.01948 30.21949 28.61950 33.11951 35.91952 37.21953 40.41954 38.21955 43.01956 44.91957 45.51958 42.61959 47.71960 48.81961 49.11962 53.21963 56.31964 60.11965 66.11966 s 72.01967 73.51968 77.61969 81.21970 78.51971 79.61972 87.31973 94.41974 93.01975 84.81976 92.61977 100.01978 106.51979 110.71980 108.61981 111.01982 103.11983 109.21984 121.81985 " 124.51984: Jan 118.4
Feb 119.3Mar 120.1Apr 120.7May 121.3June 122.3July 123.2Aug 123.5Sept 123.3Oct 122.7Nov 123.4Dec 123.3
1985: Jan 123.6Feb 123.7Mar 124.0Apr 124.1May 124.1June 124.3July , 124.1Aug 125.2Sept 125.1Oct 124.4Nov" 125.1Dec" , 126.0
84.21 49.10 35.11
15.818.623.827.734.537.331.225.928.930.028.333.035.637.140.437.842.644.444.941.747.048.048.152.455.559.365.771.773.177.280.677.078.286.494.092.683.491.9100.0107.1111.5108.2110.5102.2110.2123.9127.1119.6121.0122.0122.8123.2124.1125.4125.9125.6125.5126.0125.8125.9125.8126.3126.6126.6126.7126.9128.2127.7127.1128.0129.0
13.6
18.124.230.741.846.134.924.429.030.327.5
33.537.740.045.239.945.647.147.441.547.7
48.547.652.856.360.368.676.277.080.884.0
77.677.386.396.394.382.691.1
100.0108.2113.9
109.1111.199.9
107.7124.8128.2
119.6121.0122.2123.3123.8124.7
126.4127.7127.2127.0127.5127.4
127.8127.2128.0128.2127.9127.6
127.9129.4128.3127.8129.2130.0
17.9
18.822.723.725.426.426.327.128.229.228.7
31.933.033.635.035.239.141.141.842.146.3
47.448.851.854.658.262.166.068.172.576.3
76.379.486.590.890.284.593.1
100.0105.5108.2
107.0109.7105.5113.7122.5125.4
119.5121.0121.6121.9122.3123.2
123.9123.2123.1123.3123.8123.4
123.2123.8123.9124.3124.7125.5
125.6126.6126.9126.1126.4127.6
9.83
37.6
41.844.445.746.850.249.248.354.657.450.9
56.962.461.963.562.369.573.173.267.170.2
71.672.174.177.180.283.187.689.392.796.4
98.996.498.499.398.896.697.4
100.0103.6106.4
112.4117.5109.3102.9110.9108.9
110.9109.4109.6109.8111.7113.5
114.8113.0113.6107.2108.8108.9
110.5109.5110.5109.6109.8110.6
108.7108.3108.4108.0106.3106.6
5.96
6.9
7.68.69.7
10.711.411.612.013.014.515.5
17.620.121.823.625.428.431.233.334.938.4
41.143.446.649.854.157.461.864.970.276.4
81.185.090.494.092.893.797.4
100.0103.1105.9
107.3107.1104.8105.2110.9113.2
112.7109.4111.6111.4111.6111.4
109.8110.0109.7109.4112.1111.6
113.0115.8113.9113.6113.7113.4
110.7110.3113.2112.6113.2114.7
Source: Board of Governors of the Federal Reserve System.
304Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-46.—Industrial production indexes, market groupings, 1947-85
[1977=100; monthly data seasonally adjusted]
Year or month
1977 proportion
194719481949
1950195119521953195419551956195719581959
19601961 . .19621963196419651966 .. .196719681969
1970197119721973197419751976197719781979
198019811982198319841985"
1984- JanFebMarAprMayJuneJulyAugSeptOctNov ,Deci
1985- JanFebMarAprMayJuneJulyAugSeptOctNov p
Dec"
Totalindustrial
production
100.00
29.030.228.6
33.135.937.240.438.243.044.945.542.647.7
48.849.153.256.360.166.172.073.577.681.2
78.579.687.394.493.084.892.6
100.0106.5110.7
108.6111.0103.1109.2121.8124.5
118.4119.3120.1120.7121.3122.3123.2123.5123.3122.7123.4123.3
123.6123.7124.01241124.1124.3124.1125.2125.1124.4125.1126.0
Final products
Total
44.77
29.030.129.1
32.935.538.140.738.541.644.145.443.347.5
49.149.553.756.759.965.872.175.078.681.1
78.278.985.692.091.786.392.4
100.0106.9111.0
112.2115.2109.5114.7127.8132.0
123.4124.2125.0126.1126.8128.2129.2129.7129.8129.9130.7130.6
130.4130.4130.8131.3131.7131.6131.8133.3133.3132.0133.4134.2
Consumer goods
Total »
25.52
29.930.830.6
35.034.635.437.537.341.643.144.243.848.0
49.850.954.357.360.565.368.670.374.577.3
76.480.887.391.288.484.993.3
100.0104.3103.9
102.7104.1101.4109.3118.2120.5
116.2116.9117.3118.3117.7118.5119.1118.4118.3118.5119.6119.7
118.8119.1119.8119.5120.0120.4120.1121.5121.8120.7122.0123.0
Auto-motive
products
2.98
25.827.026.7
33.629.826.833.931.541.934.536.128.736.0
41.237.645.649.952.364.464.256.467.267.5
56.872.478.186.274.570.287.1
100.0102.4
94.9
76.178.878.195.1
109.8115.1
110.7111.2111.6110.4108.9110.4110.4111.6107.4104.2110.2111.6
114.2115.4115.1113.1113.6113.4115.0120.0117.8112.9116.6117.2
Homegoods
3.91
26.127.225.2
34.729.929.933.931.336.938.838.035.841.1
41.442.746.450.054.661.968.269,174.078.9
76.581.092.798.190.779.989.5
100.0104.7103.7
97.798.186.5
101.1114.8110.9
114.9114.4113.7115.0114.1112.7116.4114.6114,7116.9115.8114.3
111.6110.9112.2110.2110.4110.9108.4109.5109.3110.1113.0114.1
Equipment
Total2
19.25
""sTs"93.S96.688.591.5
100.0110.3120.4
124.7129.9120.2121.7140.5147.2
132.8133.9135.3136.4138.8141.0142.5144.5145.0145.0145.5144.9
145.7145.3145.4146.9147.1146.6147.3149.0148.6147.1148.5148.9
Busi-ness
14.34
25.927.023.6
25.230.834.936.331.934.640.141.735.239.5
40.639.442.844.950.357.666.768.071.075.6
72.969.379.092.496.586.189.3
100.0112.2124.7
125.1127.6113.6115.4134.9141.3
127.1128.5130.4131.2133.3135.5137.0139.1139.2139.1139.8138.4
140.4140.0140.2142.0141.9140.7141.3143.0142.2140.2141.9142.1
De-fenseand
space
3.67
15.217.818.6
21.953.875.790.679.873.171.474.674.978.9
81.182.495.4
102.999.6
110.3129.6147.8148.1141.0
119.4107.3104.3101.9100.498.5
100.1100.0101.2105.6
115.4119.8133.0143.1157.9173.7
148.8151.3151.9155.6156.0157.2158.5160.7163.4163.5163.3165.3
165.3167.3169.0170.1171.2173.4173.9175.5177.5178.9181.1182.0
Inter-mediateproducts
12.94
29.931.629.9
34.836.536.338.838.743.945.945.944.949.6
49.950.954.057.060.764.668.671.475.579.6
78.480.890.296.092.683.692.1
100.0106.9110.8
106.9107.3101.7111.2124.9130.6
120.9121.9122.8123.0124.2125.4127.0126.9125.6126.2127.2127.3
126.8127.7128.6129.3130.3131.4130.7132.0132.3132.0132.3133.2
Materials
Total3
42.28
28.830.027.3
32.736.236.740.837.744.645.745.741.147.4
48.148.152.455.860.367.273.272.577.381.9
79.080.288.496.894.883.293.0
100.0105.9110.3
105.3107.796.7
102.8114.6114.6
112.4113.3114.1114.4114.7115.2115.8116.1115.9114.2114.6114.6
115.4115.4115.5115.0114.2114.3113.8114.5114.2114.0114.2115.1
Dura-ble
goods
20.50
28.529.326.3
33.137.638.444.938.747.447.647.540.047.7
48.347.152.455.960.969.876.974.278.682.7
75.175.485.297.494.678.890.8
100.0108.8114.4
106.1109.794.2
103.7122.3121.8
118.1120.1120.6121.6121.7122.4123.5124.4124.0123.7123.9123.4
124.2123.3123.3122.8120.7120.8120.2121.8120.2120.3121.8122.6
Non-durablegoods
10.09
29.133.334.834.734.539.4
40.141.745.247.952.157.261.862.969.174.8
75.278.486.492.793.282.993.9
100.0105.6109.3
103.4107.196.6
106.2111.2112.1
110.3111.2111.8111.3111.4111.2111.6111.5111.4111.2110.7110.7
110.9111.4110.3110.4111.3111.8112.8113.5114.7112.9112.6113.4
1 Includes clothing and consumer staples, not shown separately.2 Includes rigs and prefabs, not shown separately.3 Includes energy materials, not shown separately.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-47.—Industrial production indexes, selected manufactures, 1947-85
[1977 = 100; monthly data seasonally adjusted]
Year or month
1977 proportion
1947194819491950 .19511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985 >>
1984: JanFebMar
MayJune
JulyAugSeptOctNovDec
1985- JanFebMar
MayJune
JulyAugSeptOctNov"Dec"
Durable manufactures
Primarymetals
Total
5.33
57.860.150.563.669.263.271.657.975.374.871656.866.466.164.969.675.184.793.298.991.494.7
101.994.889.9
100.7114.3110.788.298.7
100.0107.0108.590.495.065.873.082.4808
84.385.183.684.282.880.4
80.684.082.981.380.978.4
81.780.281.881.476.478.3
79.082.080.383.084.483.0
Ironandsteel
3.49
70.473.662.977.586.676.287.968.390.889.185964.774.575.772.375.382.193.4
102.4105.597.5
100.7109.7102.193.4
103.8118.2114.592.0
101.4100.0107.5108.086.392.557.566.173.5
77.978.175.676.074.371.0
69.074.673.671.071.168.9
71.068.573.271.965.467.6
68.771.669.774.475.8
Fabri-catedmetalprod-ucts
6.46
40.441.237.245.548.647.453.548.255.055.857251.357.657.656.261.163.167.073.678.882.586.988.481.981.589.499.495.482.791.6
100.0105.7109.4101.8101.686.689.1
102.8108.0
97.299.1
102.1101.5101.9103.3103.7104.1104.8104.8105.4105.9
106.4107.6108.6109.1108.3107.4
107.3107.8107.5108.4108.8109.9
Non-elec-trical
machin-ery
9.54
26.726.822.925.732.635.536.931.634.639.739633.238.839.037.942.545.451.758.267.668.969.575.272.867.678.591.797.784.588.8
100.0111.7122.6123.3129.8115.6118.3142.0146.4
131.6133.4136.5138.9141.9143.7
146.1147.8146.5146.6145.8144.6
145.0144.9146.5148.9149.1145.6
147.5149.2146.5143.5144.9145.9
Electri-cal
machin-ery
7.15
14.515.114.119.419.522.325.622.826.128.328125.731.233.835.941.342.444.953.564.264.568.172.569.369.679.790.789.877.286.8
100.0112.9125.7130.3134.1128.4143.8172.4168.9
163.0164.6165.9169.2169.2171.4
175.3176.2176.8178.4178.9180.2
176.0173.2173.1168.9169.3169.5
165.7166.1165.1164.8167.3168.7
Transportationequipment
Total
9.13
26.629.029.234.938.945.256.849.456.855.159046.552.754.651.359.365.166.879.485.183.290.489.775.381.587.099.190.181.092.2
100.0106.3108.396.995.187.699.2
113.6123.4
112.1112.3112.3112.0111.2112.4
114.2116.2114.3113.4116.0117.8120.4120.5120.8120.7120.9121.8
123.7126.8126.2124.6126.8127.7
Motorvehicles
andparts
5.25
28.831.232.041.237.832.440.835.147.138.240 129.638.543.438.146.351.352.767.366.258.269.770.056.370.677.189.877.565.786.5
100.0104.695.971.171.666.885.8
105.6112.3106.5106.0106.5103.6103.4104.3105.4108.3104.6103.1107.5109.5
113.0112.5111.3110.9110.5110.5
112.8116.8115.3111.7114.5115.6
Lumberand
prod-ucts
2.30
47.249.143.352.752.551.854.854.560.860.155256.063.659.862.666.169.274.377.280.179.381.681.581.183.295.395.686.880.891.9
100.0102.4102.092.990.182.8
100.2109.1
106.7108.1109.5110.0108.3109.8
107.9109.4110.4110.2109.5109.4
109.2109.1109.5110.9112.2113.5
113.0114.8115.9116.5
Nondurable manufactures
Apparelprod-ucts
2.79
47.049.148.652.351.354.054.754.159.761.160959.265.266.566.969.672.575.079.381.380.982.985.682.283.288.389.085.077.691.5
100.0103.198.397.396.187.395.3
102.8
104.1104.7104.6106.1104.2102.9
102.3101.3100.1100.5101.1102.5
102.6103.1101.3100.2100.3
99.2
100.6100.4101.8102.6103.6
Printingand
publish-ing
4.54
34.336.037.038.839.539.441.242.947.250.251950.754.156.356.558.661.765.569.775.079.180.484.382.082.788.290.689.283.591.2
100.0107.8112.7115.1118.6120.2129.8147.9155 1139.7141.6143.5144.1148.2149.4
152.3151.5148.8149.5153.5151.2
150.4150.3152.6154.2155.4156.7
154.3156.3156.2156.1158.3160.0
Chem-icalsand
prod-ucts
8.05
10.411.311.113.915.716.517.818.121.122.623.924.728.829.931.434.838.141.746.550.753.059.664.567.171.480.387.891.082.992.8
100.0106.8111.4106.4112.6103.8114.0121.7
118.2120.1120.3119.9119.5122.1
122.9122.0124.2123.5124.3123.4
125.7125.8126.5125.8126.7126.4
126.4128.2129.0127.5126.9
Foods
7.96
41.941.541.943.444.345.246.147.049.852.653.454.757.459.060.762.664.967.869.472.075.277.279.881.083.688.089.891.090.495.6
100.0104.3106.7111.4113.7114.9120.4127.1
123.4124.4125.5126.8126.7127.4
127.8127.7128.2129.1128.7129.0
128.2129.4128.5130.8131.4131.8
132.2132.6132.5131.0130.6
Source-. Board of Governors of the Federal Reserve System.
306Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-48.—Capacity utilization rates, 1948-85
[Percent; quarterly data seasonally adjusted]
Year orquarter
19481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985 "
1984: JanFebMar
May:::.""::June
JulyAugSeptOctNovDec
1985: JanFebMar
May"":::::June
JulyAugSeptOctNov"Dec ".
Totalindustry
87.187487.4
80.979.084087.9836
74178.882.484.8852
80979.972174.7812
806
80.080.480.881.081.281.6
82.082.081.781.181.381.1
81.180.981.080.880.680.5
80.280.780.579.880.180.5
Total
825742
82885.885489.3801
87086183675.0816
80177.3814835856
89591 186.787086.7
79.277.482887.0826
72377.481.484.2846
79378.370374.0808
803
79.280.080.480.780.781.1
81.781.881.381.181.280.9
80.780.480.580.580.380.1
80.180.780.179.579.980.3
Durablegoods
87.086786.1
76.173.379786.2816
69674.879.482.9841
77976.766970.3790
783
76.977.678.278.678.779.0
79.880.479.979.579.579.3
79.378.778.978.978.578.0
78.078.777.877.377.978.2
Manufac tur ing
Non-durablegoods
86.687788.0
83.983.587488.1842
76381.484.586.1853
81 380.775579.5836
832
82.683.483.683.683.784.1
84.483.783.583.483.683.1
82.883.082.983.083.083.4
83.383.783.783.083.083.6
Primaryprocessing
873762
88590284989.4806
92089484775.4830
79877.981583.8878
91 091485.386987.7
80,979.586491.3854
72279.383.186.0866
77978.167674.281 6
823
80.181.381.881.681.781.8
81.782.382.081.881.780.9
81.681.581.882.181.582.0
82.382.982.882.983.083.4
Advancedprocessing
800732
79883.4859893800
84284483174.981 1
80577.281683.4846
88891 187.687086.1
78.376.181 185.1815
72676.880.583.1835
80078.371 773.9804
793
78.879.379.680.280,380.7
81.681.480.980.780.980.8
80.279.879.879.779.879.3
79.179.679.078.078.578.9
Mining
82.984687.0
89.087.390291.491 1
89289.789.990.3907
93292.983477.9836
814
83.882.782.782.884.385.5
86.485.085.480.681.781.7
82.982.182.882.182.282.7
81.280.981.080.679.279.4
Utilities
93.293995.6
95.193.794592.8868
84385.385.185.0856
85484.281480.5838
839
85.683.084.684.384.484.2
82.983.082.682.484.383.8
84.786.785.084.684.584.1
81.981.583.482.883.184.0
Industrialmaterials
85.186.888.1
81.880.486.091.186.1
73.480.384.186.387.1
81.181.171.775.382.3
80.2
81.682.182.582.682.682.8
83.083.182.781.381.581.3
81.781.581.480.980.180.1
79.579.979.579.279.179.6
Source: Board of Governors of the Federal Reserve System.
307
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-49.—Neu' construction actitity. 1929-85
[Value put in place, billions of dollars; monthly data at seasonally adjusted annual rates]
Year or month
1929..
1933
1939
19401941194219431944
19451946
New series
194719481949
19501951195219531954
19551956195719581959
I9601961196219631964....
19651966.. ..196719681969...
19701971197219731974
1975....19761977....19781979
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
135.9154.9180.8215.9241.9
238.0246.7236.9268.7313.0
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
95.1115.8142.6170.0193.1
183.0193.3186.1218.0257.8
Residentialbui ldings 1
Total2
3.6
.5
2.7
3.03.51.7.9.8
1.36.2
9.913.112.4
18.115.915.816.618.2
21.920.219.019.824.3
23.023.125.227.928.0
27.925.725.630.633.2
31.943.354.359.750.4
46.564.387.9
103.8110.5
94.594.180.6
121.3145.1
Newhousing
units
3.0
.3
2.3
2.63.01.4
.7
.6
.74.8
7.810.510.0
15.613.212.913.414.9
18.216.114.715.419.2
17.317.119.421.721.8
21.719.419.024.025.9
24.335.144.950.140.6
34.451.172.786.290.1
70.470.257.795.7
114.6
Nonresidential buildings and otherconstruction *
Total
4.7
.8
1.7
2.12.71.71.11.4
2.15.8
6.98.28.0
8.610.310.211.311.5
12.914.716.114.815.1
15.916.217.217.619.7
24.127.127.329.333.1
35.337.240.046.250.5
48.651.454.766.282.6
88.499.2
105.596.7
112.7
Com-mercial3
1.1
.1
.3
.3
.4
.2
.0
.1
.21.2
1.01.41.2
1.41.51.11.82.2
3.23.63.63.63.9
4.24.75.15.05.4
7.8"9.4
9.811.613.515.515.9
12.812.814.818.624.9
29.934.237.335.848.1
Indus-trial
0.9
.2
.3
.4
.8
.3
.2
.2
.61.7
1.71.41.0
1.12.12.32.22.0
2.43.13.62.42.1
2.92.82.82.93.6
e.b"6.8
6.55.44.76.27.9
8.07.27.7
11.015.0
13.817.017.312.913.7
Other4
2.6
.5
1.2
1.31.51.2.9
1.1
1.33.0
4.25.55.9
6.16.76.87.37.2
7.38.09.08.89.0
8.98.79.29.7
10.7
15.5"16.9
19.020.121.824.526.7
27.831.532.236.742.7
44.747.950.948.150.9
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
55.053.350.850.755.2
Federal
0.2
.5
.8
1.23.89.35.62.5
1.7.9
.81.21.5
1.63.04.24.13.4
2.82.73.03.43.7
3.63.93.94.03.9
4.04.03.53.43.3
3.34.04.44.95.3
6.37.07.38.48.6
9.610.410.010.611.2
State andlocal5
2.3
1.1
3.1
2.42.01.3
.7
.6
.71.4
2.53.54.8
5.26.36.67.18.3
8.910.011.112.112.3
12.213.314.015.416.5
18.020.022.124.224.6
24.825.925.827.633.0
34.632.130.937.540.2
45.442.940.840.244.0
See next page for continuation of table.
308Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-49.—New construction activity, 1929-85—Continued
[Value put in place, billions of dollars; monthly data at seasonally adjusted annual rates]
Year or month
1984- JanFebMarAprMayJune
JulyAugSeptOctNovDec
1985- JanFebMarAprMayJune
JulyAugSeptOctNov"
Totalnew
construc-tion
284.4302.5309.4309.9315.7317.8
319.1321.2321.0318.2313.1310.1
341.0334.3333.7341.9339.9343.8
344.2343.2346.1346.3348.2
Private construction
Total
233.3249.6255.9255.6261.5260.8
263.5265.4264.3262.0257.5254.5
283.7276.5274.6282.0276.4278.9
279.5279.4282.5282.7283.7
Residentialbuildings1
Total2
132.7146.1150.1146.6148.4147.7
150.3149.8149.4144.0137.9134.3
155.3146.0146.2146.5142.3147.2
148.7146.9148.9150.6150.3
Newhousing
units
107.6112.0112.9113.5117.0116.8
117.9117.0116.3115.9113.5111.9
113.0110.3110.8112.6112.0112.2
112.8113.4113.8115.9115.9
Nonresidential buildings and otherconstruction 1
Total
100.6103.5105.8109.0113.2113.1
113.2115.6115.0117.9119.6120.3
128.4130.4128.4135.4134.2131.8
130.8132.5133.6132.1133.4
Com-mercial3
40.141.844.145.647.747.8
47.649.150.852.152.554.5
58.558.959.461.260.158.3
58.059.961.260.861.5
Indus-trial
12.212.813.613.213.713.2
13.514.014.714.314.614.4
15.215.814.617.316.415.2
15.415.115.615.415.5
Other4
48.348.848.150.251.852.2
52.152.549.551.552.451.3
54.755.754.456.957.758.3
57.557.556.855.856.3
Public construction
Total
51.152.953.554.354.256.9
55.655.956.656.255.655.5
57.457.859.159.963.564.9
64.763.963.663.664.5
Federal
10.210.510.811.311.211.7
10.511.212.011.311.911.5
11.811.711.711.312.513.1
13.012.012.512.713.1
State andlocal5
40.942.442.643.043.045.2
45.144.744.644.943.744.0
45.546.147.548.651.051.8
51.751.851.050.951.4
1 Beginning 1960, farm residential buildings included in residential buildings; prior to 1960, included in nonresidential buildings andother construction.
2 Total includes additions and alterations and nonhousekeepmg 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 all
other private.5 Includes Federal grants-in-aid for State and local projects.Note.—Data beginning 1976 are not strictly comparable with earlier data.Source: Department of Commerce, Bureau of the Census.
309Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-50.—New housing units started and authorized, 1959-85
[Thousands of units]
Year or month
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985"
1984:JanFebMarAprMayJune
JulyAugSeptOctNovDec
1985: JanFebMarAprMayJune
JulyAugSeptOctNovDec"
New housing units started
Private and public l
Total(farm andnonfa rm)
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
146902,084.52,378.52,057.51,352.5
1,171.41,547.6
1 2,001.72,036.11,760.0
1,312.61,100.31,072.11,712.51,755.8
1,735.9
109.3130.4138.1173.0182.2184.3
163.1147.8149.6152.7126.5
99.0
105.495.8
145.2176.0170.5163.4
161.0161.1148.6173.2120.9114.7
Nonfarm
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
( 3 )
Mw( 3 )( 3 )( 3 )( 3 )( 3 )( 3 )( 3 )( 3 )( 3 )( 3 )( 3 )
( 3 )( 3 )( 3 )( 3 )( 3 )( 3 )
!=!( 3 )( 3 )( 3 )( 3 )( 3 )( 3 )( 3 )( 3 )( 3 )( 3 )
( 3 )( 3 )( 3 )( 3 )( 3 )( 3 )
Private ( f a rm and non fa rm) 1
Total
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
1,292.21,084.21,062.21,703.01,749.5
1,732.8
Type of structure
1 uni t
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
1,067.61,084.2
1,070.2
2 to 4units
28C
25133847159C
108.4
86.661.171.680.985.0
84.8120.3141.3118.368.1
64.085.9
121.7125.0122.0
109.591.180.0
113.5121.4
93.7
5 unitsor more
.0
.4
.7
.5).8
450.0
422.5325.1376.1527.3571.2
535.9780.9906.2795.0381.6
204.3289.2414.4462.0429.0
330.5287.7319.6522.0544.0
568.9
New private housing units authorized 2
Total
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
1,000.51,605.21,681.8
1,740.8
Type of structure
1 unit
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
710.4564.3546.4901.5922.4
961.1
2 to 4units
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
133.6142.6
123.4
5 unitsor more
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
365.7319.4365.8570.1616.8
656.3
Seasonally adjusted annua l rates
1,9332,2081,7001,9491,7871,837
1,7301,5901,6691,5641,6001,630
1,8491,6471,8891,9331,6811,701
1,6631,7401,6161,7721,5661,840
1,2561,4401,0761,1631,1181,077
996962
1,009979
1,0431,112
1.0601,1351,1681,1551,0391,031
1,0621,059
9751,120
9611,113
117142133160118108
116114107109115119
10596
10611310992
869783778091
560626491626551652
618514553476442399
684416615665533578
515584558575525636
1,8401,9761,7391,7881,7651,805
1,5911,5421,5171,4771,6161,599
1,6351,6241,7411,7041,7781,712
1,6941,7841,8081,6881,6611,873
1,0231,127
981972944939
8648538668278.46843
903927993948933961
967990949965918978
147165160155156150
142132125121127132
150114138118131130
121127127112111123
670684598661665716
585557526529643624
582583610638714621
606667732611632772
1 Units in structures built by private developers for sale upon completion to local public housing authorities under the Department ofHousing and Urban Development "Turnkey" program are classified as private housing. Military housing starts, including those financedwith mortgages insured by FHA under Section 803 of the National Housing Act, are included in publicly owned starts and excluded fromtotal private starts.
2 Authorized by issuance of local building permit: in 17,000 permit-issuing places beginning 1984; in 16,000 places for 1978-83; in14,000 places for 1972-77; in 13,000 places for 1967-71; in 12,000 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.
310
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-51.—Business expenditures for new plant and equipment, 1947-86
[Bill ions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
194719481949
19501951195219531954
19551956195719581959
1960196119621963 ..1964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985 4
19864
1984:1III l lIV
1985: II II l lI V 4
1986: I 4
I I 4
Industries surveyed quarterly
Allindus-tries
20.1122.7820.28
21.5626.8128.1629.9628.86
30.9437.9040.5433.8435.88
39.4438.3440.8643.6751.26
59.5270.4072.7576.4285.74
91.9192.91
103.40120.03139.67
142.42158.44184.82217.76254.96
282.80315.22310.58304.78354.44
384.22393.52
337.95349.97361.48368.29
371.16387.83388.90388.98
402.13405.99
Manufactur ing
Total
8.739.257.32
7.7311.0712.1212.4312.00
12.5016.3317.5012.9813.76
16.3615.5316.0317.2721.23
25.4131.3732.2532.3436.27
36.9933.6035.4242.3552.48
53.6658.5367.4878.5895.92
112.33126.54120.68116.20138.82
152=42152.30129.91135.96142.44146.96145.65154.33154.04155.68154.74159.16
Dura-ble
goods
3.393.542.67
3.225.125.755.715.49
5.878.198.596.216.72
8.287.437.818.64
10.98
13.4917.2317.8317.9319.97
19.8016.7818.2222.6326.77
25.3727.5032.7739.4648.50
55.3659.8155.3553.0866.24
72.5370.7661.2364.0368.2671.4369.8773.9672.8573.46
71.9574.55
Non-durablegoods
5.345.714.64
4.515.956.376.726.51
6.628.158.916.777.04
8.088.108.228.63
10.25
11.9214.1514.4214.4016.31
17.1916.8217.2019.7225.71
28.2831.0334.7139.1347.42
56.9666.7365.3363.1272.58
79.8981.54
68.6871.9374.1875.5375.7880.3681.1982.22
82.7984.60
Nonmanufactur ing
Total »
11.3813.5312.96
13.8315.7416.0417.5316.85
18.4421.5723.0420.8622.12
23.0822.8024.8326.4030.04
34.1239.0340.5044.0849.47
54.9259.3167.9877.6787.19
88.7699.91
117.34139.18159.04
170.47188.68189.89188.58215.61
231.79241.23208.04214.01219.04221.33225.51233.51234.86233.30
247.39246.83
Min-ing
0.69.93.88
.841.111.211.251.29
1.311.641.691.431.35
1.291.261.411.261.33
1.361.421.381.441.77
2.022.672.883.304.58
6.127.639.81
11.2212.81
15.9921.3920.0515.1916.86
15.8414.8517.2416.3816.8217.0015.6616.5115.9415.24
15.3015.75
Trans-portation
2.693.172.80
2.873.603.563.582.91
3.103.563.842.723.47
3.543.143.593.644.71
5.666.686.576.917.23
7.176.427.148.009.16
9.9511.1012.2013.3616.05
16.6015.8414.7913.9716.52
17.7718.67
15.2917.0117.4916.2816.2217.5019.0918.2518.8018.98
Publicut i l i -ties
1.642.673.28
3.423.753.964.614.23
4.264.785.955.745.46
5.405.205.125.335.80
6.497.829.33
10.5211.70
13.0314.7016.2617.9919.96
20.2322.9027.8331.5035.63
37.7441.2145.4344.9647.48
48.2346.13
47.0847.9447.9246.92
48.4648.4748.1447.85
48.9947.53
Com-mercial
andother
6.386.776.01
6.707.297.318.098.42
9.7711.5911.5610.9711.84
12.8613.2114.7116.1718.20
20.SO23.1123.2225.2228.77
32.7135.5241.6948.3953.49
52.4758.2967.5183.0994.56
100.14110.24109.63114.45134.75
149.96161.58128.42132.67136.80141.13145.17151.02151.69151.96
164.30164.57
Addenda
Totalnon-farmbusi-
ness 2
22.2725.9724.03
25.8131.3832.1634.2033.62
37.0845.2548.6242.5545.17
48.9948.1451.6153.5962.02
70.7982.6283.8288.92
100.02
106.15109.18120.91139.26159.83
162.60179.91208.15245.34284.94
314.47349.26347.47343.35398.99
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
36.9933.6035.4242.3552.48
53.6658.5367.4878.5895.92
112.33126.54120.68116.20138.82
152.42152.30
129.91135.96142.4414696145.65154.33154.04155.68154.74159.16
Nonmanufacturing
Total
13.5416.7316.72
18.0820.3120.0421.7721.62
24.5828.9131.1129.5731.41
32.6332.6035.5836.3340.80
45.3951.2551.5756.5863.74
69.1675.5885.4996.91
107.35
108.95121.38140.67166.76189.02
202.15222.72226.79227.15260.16
Sur-veyedquar-terly
11.3813.5312.96
13.8315.7416.0417.5316.85
18.4421.5723.0420.8622.12
23.0822.8024.8326.4030.04
34.1239.0340.5044.0849.47
54.9259.3167.9877.6787.19
88.7699.91
117.34139.18159.04
170.47188.68189.89188.58215.61
231.79241.23208.04214.01219.04221.33225.51233.51234.86233.3024739246.83
Sur-veyedannu-a l l y 3
2.163.193.76
4.254.574.004.234.76
6.147.358.088.729.29
9.559.80
10.759.93
10.76
11.2712.2211.0712.5014.27
14.2416.2617.5119.2420.16
20.1921.4723.3327.5829.98
31.6834.0436.8938.5644.55
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 membership
organizations; and real estate.4 Planned capital expenditures as reported by business in late October and November 1985, corrected for biases.Source: Department of Commerce, Bureau of Economic Analysis.
311Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-52.—Sales and inventories in manufacturing and trade 1948-85
[Amounts in millions of dollars; monthly data seasonally adjusted]
19481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973 . .1974197519761977 ,19781979198019811982198319841984: Jan
FebMarAprMayJuneJulyAugSeptOctNovDec
1985: JanFebMarAprMayJuneJulyAugSeptOctNov
Total manufacturingtrade
Sales »
35,26033,78838,59643,35644,84047,98746,44351,69454,06355,87954,20159,72960,82761,15965,66268,99573,68280,28387,18790,41998,184105,088107,536116,110130,144153,566177,861182,404204,463230,000260,810298,344328,074356,927344,656368,747411,733402,489402,395404,612408,342412,524413,976412,233413,300412,276414,243417,635421,613417,350418,667420,776426,472428,275418,378422,483430,417428,998426,033432,110
Inven-tories2
52,50749,49759,82270,24272,37776,12273,17579,51687,30489,05287,09392,12994,71395,594101,063105,480111,503120,907136,790144,920155,831169,482177,719187,929202,132233,419286,098288,651318,833351,459399,561451,354493,958527,739509,213520,281573,434524,733532,141538,817545,926550,503552,421557,168561,715565,475568,750571,239573,434575,802578,940578,768580,201577,781579,665580,116578,182578,918582,173583,600
and
Ratio3
1.421.531.361.551.581.581.601.471.551.591.601.501.561.541.501.491.471.451.471.561.531.551.621.581.491.411.451.571.481.461.441.431.451.441.511.381.341.301.321.331.341.331.331.351.361.371.371.371.361.381.381.381,361.351.391.371.341.351.371.35
Manufacturing
Sales 1
17,31616,12618,63421,71422,52924,84323,35526,48027,74028,73627,24730,28630,87930,92333,35735,05837,33140,99544,87046,48750,22853,50152,80555,90663,02772,93184,79086,58998,797113,202126,905143,936154,391168,129159,027170,441189,578184,558185,616187.940187,669188,397189,255189,896191,155189,330191,275193,043196,181191,724192,261194,303193,509194,638193,871193,793196,593194,229197,229200,131
Invento-ries2
28,54326,32131,07839,30641,13643,94841,61245,06950,64251,87150,24152,94553,78054,88558,18660,04663,40968,18577,95284,66690,61898,203101,653102,656108,237124,626157,792159,935175,195189,214210,509241,100264,281282,645264,909260,682285,709261,494264,315268,234270,640274,268277,207279,774282,774284,531285,597285,668285,709285,785286,146286,171286,049284,900285,678285,036284,688284,030282,444281,993
Ratio3
1.571.751.481.661.781.761.811.621.731.801.841.701.751.741.701.691.641.601.621.761.741.771.901.831.671.581.651.841.691.611.571.571.661.641.731.521.451.421.421.431.441.461.461.471.481.501.491.481.461.491.491.471.481.461.471.471.451.461.431.41
Merchant wholesalers
Sales *
6,8086,5147,6958,5978,7829,0528,9939,89310,51310,47510,25711,49111,65611,98812,67413,38214,52915,61116,98719,52020,92622,69424,03126,35029,69538,17347,98946,80350,88556,36466,67479,48193,721102,02196,290100,448114.071111,795111,053112,147113,230116,186115,636114,774114,749114,573113,994114,337114,913114,654114,310114,619117,612118,753110,777114,273116,847115,231113,944116,359
Invento-ries2
7,9577,7069,2849,88610,21010,68610,63711,67813,26012,73012,73913,87914,12014,48814,93616,04817,00018,31720,76524,95526,26828,76232,19935,21038,81645,55657,23956,97?64,36572,80186,44299,348113,623118,438118.290120,476132,208121.337122,918123,977125,659126,742126,745128,577129,433130,610131,023132,501132,208132,247133,631133,865133,968134,014135,479135,841135,500134,967135,531135,596
Ratio3
1.131.191.071.161.121.171.181.131.191.231.241.151.221.201.161.151.141.151.151.241.231.211.261.271.241.111.071.211.191.211.201.181.141.131.241.171.111.091.111.111.111.091.101.121.131.141.151.161.151.151.171.171.141.131.221.191.161.171.191.17
Retail trade
Sales1
11,13511,14912,26813,04613,52914,09114,09515,32115,81116,66716,69617,95118,29418,24919,63020,55621,82323,67725,33024,41327,03028,89330,70033,85337,42242,46245,08249,01254,78160,43467,23174,92679,96386,77789,33997,858108,085106,136105,726104,525107,443107,941109,085107,563107,396108,373108,974110,255110,519110,972112,096111,854115,351114,884113,730114,417116,977119,538114,860115,620
Invento-ries2
16,00715,47019,46021,05021,03121,48820,92622,76923,40224,45124,11325,30526,81326,22127,94129,38631,09434,40538,07335,29938,94542,51743,86750,06355,07963,23771,06771,74479,27389,444102,610110,906116,054126,656126.014139,123155,517141.902144,908146,606149,627149,493148,469148,817149,508150,334152,130153,070155,517157,770159,163158,732160,184158,867158,508159,239157,994159,921164,198166,011
Ratio3
1.391.411.381.641.521.531.511.431.471.441.431.401.451.431.381.391.401.391.441.431.381.411.411.411.401.401.481.441.381.391.431.441.421.401.401.341.371.341.371.401.391.381.361.381.391.391.401.391.411.421.421.421.391.381.391.391.351.341.431.44
1 Monthly average for year and total for month.2 Seasonally adjusted, end of period.3 Inventory/sales ratio. For annual periods, ratio of weighted average inventories to average monthly sales; for monthly data, ratio of
inventories at end of month to sales for month.
Note.—Earlier data are not strictly comparable with data beginning 1958 for manufacturing and beginning 1967 for wholesale andretail trade.
The inventory figures in this table do not agree with the estimates of change in business inventories included in the gross nationalproduct 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.
312Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-53.—Manufacturers' shipments and inventories, 1947-85
[Millions of dollars; monthly data seasonally adjusted]
Year ormonth
194719481949195019511952195319541955....1956 . ...19571958195919601961196219631964196519661967196819691970197119721973197419751976. ...1977197819791980198119821S8319841984: Jan ......
FebMarAprMay.. ..June...July....Aug.. ..Sept...OctNov....Dec .. ..
1985-. JanFebMar....
May"! "June. ..JulyAugSept....OctNov
Shipments 1
Total
15,51317,31616,12618,63421,71422,52924,84323,35526,48027,74028,73627,24730,28630,87930,92333,35735,05837,33140,99544,87046,48750,22853,50152,80555,90663,02772,93184,79086,58998,797113,202126,905143,936154,391168,129159,027170,441189,578184,558185,616187,940187,669188,397189,255189,896191,155189,330191,275193,043196,181191,724192,261194,303193,509194,638193,871193,793196,593194,229197,229200,131
Dura-ble
goodsindus-tries
6,6947,5797,1918,84510,49311,31313,34911,82814,07114,71515,23713,56315,60915,88315,61617,26218,28019,63722,22124,64925,26727,65929,43728,18829,95434,02739,68144,23043,65950,70059,26767,84876,06077,55083,87276,69384,95198,50295,16896,35296,31395,46096,89597,73297,841100,25498,214100,807102,394103,939101,966101,724102,116102,068102,718102,657102,478105,311103,656106,479107,007
Non-durablegoodsindus-tries
8,8199,7388,9359,78911,22111,21611,49411,52712,40913,02513,49913,68414,67714,99615,30716,09516,77817,69418,77420,22021,22022,57024,06424,61725,95229,00033,25040,56042,93148,09753,93559,05767,87676,84184,25782,33485,49191,07689,39089,26491,62792,20991,50291,52392,05590,90191,11690,46890,64992,24289,75890,53792,18791,44191,92091,21491,31591,28290,57390,75093,124
Inventories2
Total
25,89728,54326,32131,07839,30641,13643,94841,61245,06950,64251,87150,24152,94553,78054,88558,18660,04663,40968,18577,95284,66690,61898,203101,653102,656108,237124,626157,792159,934175,193189,214210,509241,100264,281282,645264,909260,682285,709261,494264,315268,234270,640274,268277,207279,774282,774284,531285,597285,668285,709285,785286,146286,171286,049284,900285,678285,036284,688284,030282,444281,993
Durable goods industries
Total
13,06114,66213,06015,53920,99123,73125,87823,71026,40530,44731,72830,25832,07732,37132,54434,63235,86638,50642,25749,92055,00558,87564,73966,78066,28970,25081,398101,739102,874112,581121,601137,891160,533174,620186,347175,103171,629191,109171,910173,595176,475178,381180,543182,474184,588187,035188,619190,088190,669191,109192,153192,030192,355192,475191,546192,239192,163192,037191,930190,508190,284
Mate-rialsand
supplies
8,9667,8949,19410,41710,60810,03210,77610,35310,27910,81011,06811,97013,32515,48916,45517,37618,69319,18219,75920,86026,02835,15133,92037,54840,25145,25252,68755,12157,92752,45451,60456,46951,88152,24853,01453,21553,95054,47055,49156,15556,59256,61956,10156,46956,03355,76855,44555,63854,69354,71454,25754,21753,84453,64452,999
Workin
proc-ess
10,7209,72110,75612,31712,83712,38713,06312,77213,20314,15914,87116,19118,07521,93925,00527,33630,40829,84828,65030,78835,54542,60343,36946,34550,62058,63469,25476,99781,10577,81377,46388,10577,31778,45680,34981,53682,73083,81784,79786,17086,88687,68588,29088,10588,67288,96789,68489,53789,65490,30691,38391,47392,18191,07291,020
Finishedgoods
6,2066,0406,3487,5658,1257,8398,2399,2459,0639,6629,92510,34410,85412,49113,54714,16315,63917,75117,88018,60119,82323,98525,58628,69030,73034,00538,59242,50247,31544,83642,56246,53542,71242,89143,11243,63043,86344,18744,30044,71045,14145,78446,27846,53547,44847,29547,22647,30047,19947,21946,52346,34745,90545,79246,265
Nondurable goods industries
Total
1283613,88113,2611553918,31517,40518,07017,90218,66420,19520,14319,98320,86821,40922,34123,55424,18024,90325,92828,03229,65931,74333,46334,87136,36837,98843,23056,05357,06062,61267,61372,61880,56789,66196,29889,80689,05394,60089,58490,72091,75992,25993,72594,73395,18695,73995,91295,50994,99994,60093,63294,11693,81693,57493,35493,43992,87392,65192,10091,93691,709
Mate-rialsand
supplies
8,3178,1678,5568,9718,7758,6629,0809,0829,4939,8139,97810,13110,44811,15511,71512,28912,72413,15013,68314,67618,13223,69923,54225,83327,39829,31732,45136,20637,75835,16536,17036,63536,43536,89036,89536,86837,44737,38737,59537,51337,53437,38737,19736,63536,73136,91436,40036,39936,10736,44835,91735,97435,43335,53935,051
Workin
proc-ess
2,4722,4402,5712,7212,8642,8282,9442,9463,1103,2963,4063,5113,8064,2044,4214,8485,1225,2745,6655,9826,7078,1758,8379,93311,00311,90713,74115,73216,07414,30814,48014,81114,70014,81614,83514,87715,02715,15214,94315,13514,96815,01414,81014,81114,65614,64214,52414,35114,31814,33614,21614,16114,31014,60714,680
Finishedgoods
7,4097,4157,6668,6228,6248,4918,8459,3809,73810,44410,79611,26111,67412,67313,52314,60615,61716,44817,01917,33018,39124,17924,68126,84629,21231,39434,37537,72342,46640,33338,40343,15438,44939,01440,02940,51441,25142,19442,64843,09143,41043,10842,99243,15442,24542,56042,89242,82442,92942,65542,74042,51642,35741,79041,978
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.
313Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-54.—Manufacturers' new and unfilled orders, 1947-85
[Amounts in mill ions of dollars; monthly data seasonally adjusted]
Year or month
13471948 .194919501951195219531954 .1955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841984: Jan
FebMarAprMayJuneJulyAugSeptOctNovDec
1985- JanFebMarAprMayJuneJulyAugSeptOctNov
New orders J
Total
15,25617,69315,61420,11023,90723,20423,58622,33527,46528,36827,55927,00230,72430,23531,10433,43635,52438,35742,10046,40247,05650,68753,95052,03855,98364,16776,05687,24485,22099,532115,032131,546147,403156,161167,752157,255173,259191,634189,061191,409195,792189,360192,384189,911194,061192,384189,217186,799194,982193,671195,210193,057191,532191,081195,019198,261195,793198,782197,332195,381196,865
Durable goodsindustries
Total
6,3888,1266,63310,16512,84112,06112,14710,76814,99615,36514,11113,29016,00315,30315,75917,37418,70920,65223,27826,17725,82528,11629,87127,38829,99835,06442,72646,83542,09951,40361,08272,33979,45179,35083,55374,99687,631100,61199,548101,794104,45497,307100,95098,340101,979101,86098,21096,506104,434101,307105,447102,46799,54499,839102,971106,780104,370107,661106,641104,495103,796
Capitalgoodsindus-tries,non-
defense
6,9037,6606,7387,4448,62210,97112,67311,01112,79115,29119,45823,23123,25924,05020,68122,76427,01725,71827,02026,76026,33228,56227,72128,14026,73627,39425,25926,83626,89323,63329,49327,20625,46125,59427,98426,68527,55429,24027,09225,788
Non-durablegoods
industries
8,8689,5668,9819,94511,06611,14311,43911,56612,46913,00313,44813,71214,72014,93215,34516,06116,81517,70518,82320,22521,23122,57124,07924,65025,98629,10433,33040,40943,12248,12953,95059,20767,95376,80184,19982,26085,62791,02489,51389,61591,33892,05391,43491,57192,08290,52491,00790,29390,54892,36489,76390,59091,98891,24292,04891,48191,42391,12190,69190,88693,069
Unfilled orders2
Total
34,47330,73624,04541,45667,26675,85761,17848,26660,00467,37553,18347,37052,73245,08047,40748,57754,32766,88280,07198,401104,547109,926115,422106,158107,147121,061158,884188,467172,037180,562203,475259,770302,145323,393319,094296,918330,924355,640335,427341,220349,072350,763354,750355,406359,571360,800360,687356,211358,150355,640359,125359,926357,151354,731355,112359,502361,502363,691366,794364,946361,680
Durablegoods
industries
28,57926,61919,62235,43563,39472,68058,63745,25056,24163,88050,35244,55949,37342,51444,37545,96551,27063,69176,29894,575100,576105,950111,250101,566102,119114,725151,504182,925164,139172,273195,008249,483290,921312,648309,066287,796320,123345,443324,503329,945338,086339,933343,988344,596348,734350,340350,336346,035348,075345,443348,924349,671347,096344,874345,127349,250351,142353,492356,477354,493351,282
Non-durablegoods
industries
5,8944,1174,4236,0213,8723,1772,5413,0163,7633,4952,8312,8113,3592,5663,0322,6123,0573,1913,7733,8263,9713,9764,1724,5925,0276,3367,3805,5427,8988,2888,46710,28711,22410,74510,0289,12210,80110,19710,92411,27510,98610,83010,76210,81010,83710,46010,35110,17610,07510,19710,20110,25510,0559,8579,98510,25210,36010,19910,31710,45310,398
Unfilled orders— shipmentsratio3
Total
3.423.633.873.353.093.012.782.632.692.803.103.333.813.703.853.753.653.383.313.864.133.763.303.273.593.883.813.773.763.383.363.483.513.573.593.573.533.583.553.553.463.453.363.473.473.403.403.383.393.413.413.473.373.32
Durablegoods
industries
4.124.274.554.003.693.543.373.133.243.373.723.954.554.404.654.504.394.063.904.564.964.523.943.894.224.614.554.574.654.104.064.244.274.354.394.374.314.364.324.324.204.184.064.234.214.144.124.124.114.144.114.224.064.00
Non-durablegoodsindus-tries
0.961.121.04.85.86.94.72.79.68.73.72.80.76.73.69.69.77.77.88.93.64.84.76.70.78.76.67.59.53.55.49.55.57.55.54.53.52.52.51.50.49.49.49.49.50.48.48.47.49.49.49.48.50.49
1 Monthly average for year and total for month.2 Seasonally adjusted, end of period.3 Ratio of unfilled orders at end of period to shipments for period; excludes industries with no unfilled orders. Annual figures relate
to seasonally adjusted data for December.
Note.—Data beginning 1958 are not strictly comparable with earlier data.
Source: Department of Commerce, Bureau of the Census.
314Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
PRICES
TABLE B-55.—Consumer price indexes, major expenditure classes, 1946-85
[1967 = 100]
Year ormonth
1946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
198019811982198319841985
1984: JanFebMar
May"!"June
JulyAugSeptOctNovDec
1985: JanFebMarAprMayJune
JulyAugSeptOctNovDec
Allitems
58.566.972.171.4
72.177879.580180580.281.484386.687.3
88.789.690.691.792.994.597.2
100.0104.2109.8
116.3121.3125.3133.1147.7161.2170.5181.5195.4217.4
246.8272.4289.1298.4311.1322.2
305.2306.6307.3308.8309.7310.7
311.7313.0314.5315.3315.3315.5
316.1317.4318.8320.1321.3322.3
322.8323.5324.5325.5326.6327.4
Food andbeverages
Total *
100.0103.6108.8
114.7118.3123.2139.5158.7172.1177.4188.0206.3228.5
248.0267.3278.2284.4295.1302.0
291.6294.2294.3294.5293.6294.3
295.3296.9296.4296.6296.3297.2
299.3301.4301.6301.6301.0301.4
301.6301.8302.1302.5303.6305.6
Food
58.170.676.673.5
74.582884.383.082.881.682.284.988.587.1
88.089.189.991.292.494.499.1
100.0103.6108.9
114.9118.4123.5141.4161.7175.4180.8192.2211.4234.5
254.6274.6285.7291.7302.9309.8
299.4302.1302.2302.3301.4302.0
303.2304.8304.2304.4304.1305.1
307.3309.5309.7309.6308.9309.3
309.5309.7309.9309.8311.0313.2
Housing
Total 2
60.665.269.870.9
72.877278.780.881.782.383.686.287.788.6
90.290.991.792.793.894.997.2
100.0104.0110.4
118.2123.4128.1133.7148.8164.5174.6186.5202.8227.6
263.3293.5314.7323.1336.5349.9
329.2331.0331.5333.2334.6336.2
338.1339.5341.4341.2340.9341.2
342.0343.6344.7345.9348.5350.4
351.6352.9353.8354.4355.0355.8
Shelter
76"5"78.279.180.483.485.186.0
87.888.589.690.792.293.896.8
100.0104.8113.3
123.6128.8134.5140.7154.4169.7179.0191.1210.4239.7
281.7314.7337.0344.8361.7382.0
353.2354.0355.5357.8358.9360.2
362.7364.6366.5367.8368.9370.1
371.2373.3374.3375.9379.5381.0
383.2385.9386.9389.1391.3392.3
Fuel andother
utilities3
83"o'83.585.187.389.991.793.8
95.997.197.398.298.498.398.8
100.0101.3103.6
107.6115.0120.1126.9150.2167.8182.7202.2216.0239.3
278.6319.2350.8370.3387.3393.6
376.0383.0380.1380.9385.5390.0
393.9395.5397.0392.4387.5386.0
387.2386.5388.2388.7393.0399.4
399.9398.9400.5395.6392.1393.3
House-hold
furnish-ingsand
oper-ation2
9L3"90.989.989.991.992.393.1
93.893.793.894.695.095.397.0
100.0103.8107.7
111.5115.7118.3121.6135.3151.0160.1167.5177.7190.3
205.4221.3233.2238.5242.5247.2
240.4240.4241.2242.3242.4242,3
241.9242.2244.1244.3244.2244.2
244.2246.2246.9247.9247.6247.1
246.5247.0247.1248.4248.9248.8
Appareland
upkeep
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
178.4186.9191.8196.5200.2206.0
196.4196.2198.8199.2198.9197.4
196.6200.1204.2205.7205.2203.2
199.8201.8205.3205.9205.3204.6
202.8205.3209.6211.1211.2209.0
Trans-portation
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
249.7280.0291.5298.4311.7319.9
306.0305.8306.9309.6312.2313.1
312.9312.9313.7315.5316.1315.8
314.7314.3316.7320.0321.4321.8
321.8320.7319.7320.9323.2324.0
Medicalcare
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
265.9294.5328.7357.3379.5403.1
369.5373.2374.5375.7376.8378.0
380.3381.9383.1385.5387.5388.5
391.1393.8396.5398.0399.5401.7
404.0406.6408.3410.5413.0414.7
Enter-tainment
100.0105.7111.0
116.7122.9126.5130.0139.8152.2159.8167.7176.6188.5
205.3221.4235.8246.0255.1265.0
249.9251.5251.7253.8253.5254.5
255.3256.4257.3258.3259.0260.1
261.0261.3262.2263.3263.6264.8
265.7265.7266.8268.4269.0268.3
Othergoods
andservices
100.0105.2110.4
116.8122.4127.5132.5142.0153.9162.7172.2183.3196.7
214.5235.7259.9288.3307.7326.6
300.5301.5302.1302.8303.2304.4
306.5307.2314.6315.8316.5316.7
319.1320.5321.1321.8322.3323.0
325.0326.0333.3334.9335.3336.5
Ener-gy 3
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
361.1410.0416.1419.3423.6426.5
416.7420.2418.1421.3426.1428.5
428.3427.3429.0426.7421.8418.9
414.5411.4416.6424.4431.7436.8
437.1433.8432.6427.1425.1426.5
1 Includes alcoholic beverages, not shown separately.2 Series beginning 1967 not comparable with series for earlier years.3 See Tables B-56 and B-57.
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.315
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-56.—Consumer price indexes, selected expenditure classes, 1946-85
[1967 = 100]
Year or month
1946194719481949
1950195119521953195419551956195719581959
19601961196219631964.19651966196719681969
1970197119721973197419751976197719781979
198019811982198319841985
1984- JanFebMarAprMayJune
JulyAugSeptOctNovDec
1985: JanFebMarAprMayJune
Ju lyAugSeptOctNovDec
Food and beverages
Total '
100.0103.6108.8
114.7118.3123.2139.5158.7172.1177.4188.0206.3228.5
248.0267.3278.2284.4295.1302.0
291.6294.2294.3294.5293.6294.3
295.3296.9296.4296.6296.3297.2
299.3301.4301.6301.6301.0301.4
301.6301.8302.1302.5303.6305.6
Food
Total
58170.676.673.5
74582.884.383.082.881.682.284.988.587.1
88.089.189.991.292.494.499.1
100.0103.6108.9
114.9118.4123.5141.4161.7175.4180.8192.2211.4234.5
254.6274.6285.7291.7302.9309.8
299.4302.1302.2302.3301.4302.0
303.2304.8304.2304.4304.1305.1
307.3309.5309.7309.6308.9309.3
309.5309.7309.9309.8311.0313.2
Athome
73.579.876.7
77686.387.886.285.884.184.487.291.088.8
89.690.491.092.293.295.5
100.3100.0103.2108.2
113.7116.4121.6141.4162.4175.8179.5190.2210.2232.9
251.5269.9279.2282.2292.6296.8
290.2293.6293.1292.8290.7291.4
292.5294.4293.4293.4292.4293.2
296.1298.6298.4297.7296.2296.0
296.2295.9295.6295.3296.6299.3
Awayfromhome
68.970.170.872.274.977.279.3
81.483.285.487.388.990.995.1
100.0105.2111.6
119.9126.1131.1141.4159.4174.3186.1200.3218.4242.9
267.0291.0306.5319.9333.4346.6
327.2328.5329.8330.9332.6333.1
334.4335.5335.8336.6337.7339.2
339.9341.4342.6343.9345.1346.9
347.3348.4349.9350.3351.3352.1
Shelter
Total
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
281.7314.7337.0344.8361.7382.0
353.2354.0355.5357.8358.9360.2
362.7364.6366.5367.8368.9370.1
371.2373.3374.3375.9379.5381.0
383.2385.9386.9389.1391.3392.3
Renters' costs
Total
"ioio108.6115.4
105.7106.0106.5107.4107.8108.2
108.9109.6110.2110.7110.9111.3
111.8112.4112.9113.5114.5115.1
115.8116.6117.0117.9118.4118.3
Rent,resi-
dential
59261.165.168.0
70.473.276280.383.284.385.987589.190.4
91792.994.095.095.996.998.2
100.0102.4105.7
110.1115.2119.2124.3130.6137.3144.71535164.0176.0
191.6208.2224.0236.9249.3264.6
242.9243.6244.8246.4247.2248.4
249.7251.1252.4253.8254.8256.1
257.1258.4259.2260.4262.6263.6
265.0266.6267.7269.9271.7272.4
Home-owners'costs
""102:5107.3113.1
104.9105.1105.6106.2106.5106.8
107.6108.1108.7109.1109.4109.8
110.0110.7110.8111.3112.4112.8
113.5114.3114.6115.1115.8116.3
Mainte-nanceand
repairs
71.272474.177.280581.883.2
84685.986.587.789.591.395.2
100.0106.1115.0
124.0133.7140.7151.0171.6187.6199.6214.7233.0256.4
285.7314.4334.1
.346.3359.2368.9
356.7353.5355.3356.3357.3358.9
360.3360.1362.7361.6362.9364.4
366.0366.8370.0368.0366.2367.6
367.8370.6368.7368.5372.7373.7
Fuel and other utilities
Total
83.083585.187.389991.793.8
95997.197.398.298.498.398.8
100.0101.3103.6
107.6115.0120.1126.9150.2167.8182.7202.2216.0239.3
278.6319.2350.8370.3387.3293.6
376.0383.0380.1380.9385.5390.0
393.9395.5397.0392.4387.5386.0
387.2386.5388.2388.7393.0399.4
399.9398.9400.5395.6392.1393.3
Household fuels
Total
"iob"o'101.4103.4
107.9115.3120.1128.4160.7183.8202.3228.6247.4286.4
349.4407.0446.2469.248*.548'd.l
470.447,9.6476.2476.0483.5490.7
496.5498.6500.1492.1482.6480.2
481.2480.8482.2483.0490.0497.7
497.3494.4496.8488.4481.5483.6
Fuel oil,coal,and
bottledgas
51358.468.670.3
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
556.0675.9667.9628.0641.8619.5
642.8688.6660.0650.7649.2646.0
637.4625.5622.1626.8626.9625.9
621.6623.4620.8623.5620.8612.0
601.9594.6601.7615.3641.6657.3
Gas(piped)
andelec-
tricity
77477.179.181.0
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
301.8345.9393.8428.7445.2452.7
427.3429.0429.5432.3441.4450.6
459.1463.9466.4456.0444.7442.2
444.1443.3445.5445.9454.7465.6
467.1465.1466.5453.9440.5439.9
Otherutilities
andpublic
services
100.0101.2104.0
107.4114.7120.6124.1130.3137.1145.4152.0158.3159.5
165.2181.0200.2213.7230.2240.7
224.6228.0227.4228.2228.8229.4
230.6231.3232.7232.9234.4234.1
235.3234.3236.3236.4236.8241.1
242.8244.2244.6244.7245.9245.8
See next page for continuation of table.
316Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-56.—Consumer price indexes, selected expenditure classes, 1946-85—Continued
[1967-100]
Year or month
1946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982 . .198319841985
1984: JanFebMarAprMay .JuneJulyAugSeptOctNov. ..Dec
1985- JanFebMarAprMayJune
July.. . .AugSept..OctNovDec7'
Transportation
Total
50.355.561.866.468.272.577.379.578.377.478.883.386.089.689.690.692.593.094.395.997.2
100.0103.2107.2112.7118.6119.9123.8137.7150.6165.5177.2185.5212.0249.7280.0291.52^8.4311.7319.9
306.03L5.8306.9309.6312.2313.1312.9312.9313.7315.5316.1315.8
314.7314.3316.7320.0321.4321.8
321.8320.7319.7320.9323.2324.0
Private transportation
Total 2
54.361.568.272.372.575.880.882.480.378.980.184.787.491.190.691.393.093.494.796.397.5
100.0103.0106.5111.1116.6117.5121.5136.6149.8164.6176.6185.0212.3249.2277.5287.5293.9306.6314.2
300.9300.8301.9304.8307.4308.1307.5307.5308.4310.2310.8310.4
309.1308.7311.0314.6316.0316.3
316.1314.9313.6314.7317.0317.8
Newcars
69.275.682.883.487.494.995.894.390.993.598.4
101.5105.9104.5104.5104.1103.5103.2100.999.1
100.0102.8104.4107.6112.0111.0111.1117.5127.6135.7142.9153.8166.0179.3190.2197.6202.6208.5215.2
207.2207.2207.2207.4207.6207.7208.1208.1208.2209.6211.4212.0
213.1213.9214.1214.1214.5214.7
214.7214.6214.5216.2218.4219.4
Usedcars
89.2"75.971.869.177.480.289.583.686.994.896.0
100.199.497.0
100.0( 4 )
103.11Q4.3110.2110.5117.6122.6146.4167.9182.8186.5201.0208.1256.9296.4329.7375.7379.7
357.3357.2362.2370.0378.0382.0383.2383.8384.2384.6383.6382.7
382.8384.6386.1386.4384.2380.3
376.7374.0374.3375.3376.4375.6
Motorfue l 3
54.962.270.472.371.873.975.880.382.583.686.590.088.889.992.591.491.991.891.494.997.0
100.0101.4104.7105.6106.3107.6118.1159.9170.8177.9188.2196.3265.6369.1410.9389.4376.4370.7373.8
370.6369.4369.1374.3376.9375.2370.2366.6368.5370.9369.8366.4
357.6352.4360.6374.2381.6384.7
385.5381.9377.7374.6376.7377.5
Auto-mobilemainte-nance
andrepair
52.056.459.661.162.367.068.672.374.876.579.582.483.785.587.289.390.491.692.894.596.2
100.0105.5112.2120.6129.2135.1142.2156.8176.6189.7203.7220.6242.6268.3293.6315.8330.0341.5351.4
336.1337.4338.3338.9340.2340.7341.6342.7344.2345.3345.8346.2
346.9348.2348.5348.2349.6350.4
351.1351.9353.5355.7355.8357.5
Other
100.0103.4109.7119.2128.4129.1127.8132.4141.2163.1177.3184.6198.6222.6241.3257.8260.8273.3287.6
267.6267.7268.3269.0270.4271.5272.4274.9275.9278.7280.7282.3
283.9284.4284.5285.8285.6286.6
287.6287.7285.8289.6293.9295.2
Publictranspor-
tation
34.436.040.745.248.954.057.561.365.567.470.072.776.178.381.084.687.488.590.191.995.2
100.0104.6112.7128.5137.7143.4144.8148.0158.6174.2182.4187.8200.3251.6312.0346.0362.6385.2402.8
378.2377.4377.4378.0380.7385.2389.3390.8389.5391.1391.8392.8
394.5394.4397.3398.0398.4399.3
402.4403.7408.0411.5412.8412.9
Medical care
Total
44.448.151.152.753.756.359.361.463.464.867.269.973.276.479.181.483.585.687.389.593.4
100.0106.1113.4120.6128.4132.5137.7150.5168.6184.7202.4219.4239.7265.9294.5328.7357.3379.5403.1
369.5373.2374.5375.7376.8378.0380.3381.9383.1385.5387.5388.5
391.1393.8396.5398.0399.5401.7
404.0406.6408.3410.5413.0414.7
Medicalcarecom-
modities
76.281.886.187.488.591.091.892.693.794.796.799.3
102.8104.4104.5103.3101.7100.8100.5100.2100.5100.0100.2101.3103.6105.4105.6105.9109.6118.8126.0134.1143.5153.8168.1186.5205.7223.3239.7256.7
231.2232.9235.0236.9238.7239.4240.7241.6242.4244.1245.6247.3
248.2249.8251.9253.9255.2257.0
257.8259.3260.2261.3262.7262.9
Medi-cal
careserv-ices
40.143.546.448.149.251.755.057.058.760.462.865.568.772.074.977.780.282.684.687.392.0
100.0107.3116.0124.2133.3138.2144.3159.1179.1197.1216.7235.4258.3287.4318.2356.0387.0410.3435.1
400.2404.4405.3406.3407.1408.4410.9412.7413.9416.5418.5419.3
422.4425.3428.1429.4430.9433.0
435.8438.6440.5443.0445.8448.0
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 1981.4 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-55.
Source: Department of Labor, Bureau of Labor Statistics.
317Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-57.—Consumer price indexes, commodities, services, and special groups, 1940-85
[1967 = 100]
Year ormonth
19401941194219431944 . .19451946194719481949
1950 .195119521953195419551956195719581959
196019611962 .1963196419651966196719681969
197019711972 .1973197419751976197719781979
198019811982198319841985
1984: JanFebMar....
fcJune..
July...Aug...Sept..Oct....Nov...Dec...
1985: Jan....Feb....Mar...
ft:June..
July...Aug...Sept..Oct....Nov...Dec. ..
Allitems
42.044.148.851.852.753.958.566.972.171.4
72.177.879.580.180.580.281.484.386.687.3
88.789.690.691.792.994.597.2
100.0104.2109.8
116.3121.3125.3133.1147.7161.2170.5181.5195.4217.4
246.8272.4289.1298.4311.1322.2
305.2306.6307.3308.8309.7310.7
311.7313.0314.5315.3315.3315.5
316.1317.4318.8320.1321.3322.3
322.8323.5324.5325.5326.6327.4
Commodities
Allcom-
modities
40.643.349.654.054.756.362.475.080.478.3
78.885.987.086.785.985.185.988.690.690.7
91.592.092.893.694.695.798.2
100.0103.7108.4
113.5117.4120.9129.9145.5158.4165.2174.7187.1208.4
233.9253.6263.8271.5280.7286.7
276.8278.3278.7280.1280.4280.6
280.6281.4282.3283.1283.0282.8
282.7284.0285.3286.8287.0286.9
286.5286.5287.1287.9289.2289.9
Food
35.238.445.150.349.650.758.170.676.673.5
74.582.884.383.082.881.682.284.988.587.1
88.089.189.991.292.494.499.1
100.0103.6108.9
114.9118.4123.5141.4161.7175.4180.8192.2211.4234.5
254.6274.6285.7291.7302.9309.8
299.4302.1302.2302.3301.4302.0
303.2304.8304.2304.4304.1305.1
307.3309.5309.7309.6308.9309.3
309.5309.7309.9309.8311.0313.2
Commodities less food
All
48.050.456.058.461.664.168.176.882.781.5
81.487.588.388.587.586.987.890.591.592.7
93.193.494.194.895.696.297.5
100.0103.7108.1
112.5116.8119.4123.5136.6149.1156.6165.1174.7195.1
222.0241.2250.9259.0267.0272.5
263.0263.8264.4266.5267.4267.4
266.8267.1268.8269.8269.9269.2
267.8268.6270.6272.8273.4273.1
272.4272.3273.1274.4275.7275.7
Durable
48.151.458.460.365.970.974.180.386.287.4
88.495.196.495.793.391.591.594.495.997.3
96.796.697.697.998.898.498.5
100.0103.1107.0
111.8116.5118.9121.9130.6145.5154.3163.2173.9191.1
210.4227.1241.1253.0266.5270.7
261.4260.9262.2265.2267.0267.8
267.8267.8268.7269.3270.0269.8
270.2271.4271.9272.6271.6270.4
269.3268.6268.7270.2271.5271.4
Non-durable
44.746.751.653.856.658.662.972.277.876.3
76.282.082.483.183.583.585.387.688.289.3
90.791.291.892.793.594.897.0
100.0104.1108.8
113.1117.0119.8124.8140.9151.7158.3166.5174.3198.7
235.2257.5261.6266.3270.8277.2
267.4269.1269.3270.7271.1270.5
269.5270.0272.3273.6273.3272.2
269.7270.2273.2276.5278.0278.4
277.9278.1279.6280.7282.0282.0
Services
Allservices
43.644.245.646.447.548.249.151.154.356.9
58.761.864.567.369.570.972.775.678.580.8
83.585.286.888.590.292.295.8
100.0105.2112.5
121.6128.4133.3139.1152.1166.6180.4194.3210.9234.2
270.3305.7333.3344.9363.0381.5
353.9355.3356.5358.1359.9361.9
364.5366.5368.9369.7369.9370.6
372.1373.5375.0376.2378.9381.3
383.3384.9386.5387.7388.7389.5
Medi-cal
careserv-ices
32.532.733.735.436.937.940.143.546.448.1
49.251.755.057.058.760.462.865.568.772.0
74.977.780.282.684.687.392.0
100.0107.3116.0
124.2133.3138.2144.3159.1179.1197.1216.7235.4258.3
287.4318.2356.0387.0410.3435.1
400.2404.4405.3406.3407.1408.4
410.9412.7413.9416.5418.5419.3
422.4425.3428.1429.4430.9433.0
435.8438.6440.5443.0445.8448.0
Serv-icesless
medi-cal
care
77.680.482.5
85.286.788.189.691.293.296.4
100.0104.9112.0
121.3127.7132.6138.3151.0164.7177.7190.6206.9230.1
266.6302.2328.6338.1355.6373.3
346.6347.8349.0350.6352.5354.5
357.1359.2361.7362.3362.3363.0
364.3365.5366.9368.1370.9373.3
375.2376.7378.3379.3380.1380.8
Special indexes
Allitemslessfood
47.348752153.655756959.464969.670371 175777.579079.579781 183.885.787.3
88.889.790.892.093.294.596.7
100.0104.4110.1
116.7122.1125.8130.7143.7157.1167.5178.4191.2213.0
244.0270.6288.4298.3311.3323.3
304.8305.9306.8308.6310.0311.0
312.0313.2315.2316.1316.2316.2
316.3317.4319.1320.8322.4323.6
324.2325.0326.2327.4328.5328.9
Allitemsless
energy
83.986.387.0
88.389.390.491.692.994.397.3
100.0104.4110.3
117.0122.0126.1133.8146.9160.2169.2179.8193.8213.1
238.0261.7279.3289.3302.9314.8
297.0298.2299.2300.5301.1301.9
303.1304.6306.1307.1307.7308.2
309.2310.9312.0312.7313.3313.9
314.5315.6316.8318.4319.8320.5
Allitemslessfoodand
ener-gy
83.385.287.0
88.389.390.591.693.094.396.6
100.0104.6110.7
117.6123.1126.9131.3142.2155.3165.5175.8188.7207.0
232.8257.1276.1287.0301.2314.4
294.6295.5296.7298.3299.3300.2
301.3302.8304.9306.1306.9307.3
307.9309.5310.8311.8312.8313.4
314.1315.3316.9318.9320.4320.7
Ener-gy1
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
361.1410.0416.1419.3423.6426.5
416.7420.2418.1421.3426.1428.5
428.3427.3429.0426.7421.8418.9
414.5411.4416.6424.4431.7436.8
437.1433.8432.6427.1425.1426.5
1 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-55.Source: Department of Labor, Bureau of Labor Statistics.
318Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-58.—Changes in special consumer price indexes, 1958-85
[Percent change]
Year or month
1958
1959
19601961
1962
19631964
1965
19661967
1968
1969
19701971
1972
19731974
1975
19761977
1978
1979
1980
1981
1982 ..19831984 .
1985
1984: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1985: JanFebMarAprMayJune
JulyAugSeptOctNovDec
All items
Dec.
toDec.1
1.81.5
1.5.7
1.21.61.2
1.93.43.04.76.1
5.53.43.48.8
12.2
7.04.86.89.0
13.3
12.4
8.93.93.84.0
3.8
Yearto
year
2.7.8
1.61.01.11.21.3
1.72.92.94.25.4
5.94.33.36.2
11.0
9.15.86.57.7
11.3
13.5
10.4
6.13.24.3
3.6
All items lessfood
Dec.to
Dec.1
1.62.3
1.01.11.21.61.0
1.63.33.54.95.7
6.53.13.05.6
12.2
7.16.26.38.5
14.0
12.9
9.94.04.14.0
4.0
Yearto
year
2.31.9
1.71.01.21.31.3
1.42.33.44.45.5
6.04.63.03.99.9
9.36.66.57.2
11.4
14.6
10.9
6.63.44.4
3.9
All items lessenergy
Dec.to
Dec.1
1.91.4
1.4.8
1.21.81.3
1.93.53.14.96.4
5.63.33.58.3
11.5
6.74.66.89.2
11.1
11.7
8.64.24.44.5
4.0
Yearto
year
2.9.8
1.51.11.21.31.4
1.53.22.84.45.7
6.14.33.46.19.8
9.15.66.37.8
10.0
11.7
10.06.73.64.7
3.9
All items lessfood andenergy
Dec.to
Dec.1
1.82.2
.81.51.11.81.2
1.53.33.95.16.1
6.63.13.04.7
11.3
6.76.16.48.5
11.3
12.1
9.64.54.94.7
4.4
Yearto
year
2.32.1
1.51.11.31.21.5
1.42.43.54.65.8
6.24.73.13.58.3
9.26.66.27.39.7
12.510.4
7.43.94.9
4.4
All items less food,energy, and shelter
Dec.
toDec.1
4.65.0
5.73.22.63.5
11.3
6.47.05.26.57.2
9.99.46.15.04.4
3.7
Yearto
year
4.64.8
5.14.92.43.07.6
8.97.06.05.76.9
8.89.57.75.25.0
3.8
Change from preceding month
Unad-justed
0.6.5.2.5.3.3
.3
.4
.5
.30.1
.2
.4
.4
.4
.4
.3
.2
.2
.3
.3
.3
.2
Sea-
sonallyad-
justed
0.6.4.3.4.2.2
.3
.4
.4
.3
.2
.3
.2
.3
.5
.4
.2
.2
.2
.2
.2
.3
.6
.4
Unad-justed
0.3.4.3.6.5.3
.3
.4
.6
.3
.00
0.3.5.5.5.4
.2
.2
.4
.4
.3
.1
Sea-
sonallyad-
justed
0.5.3.4.6.3.2
.4
.4
.4
.3
.2
.2
.3
.3
.6
.5
.3
.2
.2
.2
.2
.3
.5
.3
Unad-justed
0.7.4.3.4.2.3
.4
.5
.5
.3
.2
.2
.3
.5
.4
.2
.2
.2
.2
.3
.4
.5
.4
.2
Sea-
sonallyad-
justed
0.7.4.3.4.2.3
.4
.5
.3
.3
.2
.3
.4
.5
.3
.2
.3
.2
.3
.3
.2
.5
.5
.4
Unad-justed
0.3.3.4.5.3.3
.4
.5
.7
.4
.3
.1
.2
.5
.4
.3
.3
.2
.2
.4
.5
.6
.5
.1
Sea-
sonallyad-
justed
0.5.3.4.5.3.3
.4
.4
.4
.3
.2
.3
.4
.6
.4
.3
.3
.3
.3
.3
.2
.5
.4
.3
Unad-justed
0.3.3.5.5.3.3
.3
.5
.7
.4
.30
.2
.5
.5
.30.1
.1
.2
.6
.7
.4
.0
Sea-sonally
ad-justed
0.6.4.3.4.4.3
.3
.4
.4
.3
.2
.3
.5
.5
.4
.20
.2
.1
.2
.2
.5
.4
.2
1 Changes from December to December are based on unadjusted indexes.
Note.— Data beginning 1978 are for all urban consumers; earlier data are forSee also Note, Table B-55.
Source: Department of Labor, Bureau of Labor Statistics.
urban wage earners and clerical workers.
319Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-59.—Changes in consumer price indexes, commodities and services, 1929-85
[Percent change]
Year
1929
1933
1939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985
All items
Dec.to
Dec.1
0.2
.5
-.5
1.09.79.33.22.1
2.318.29.02.7
-1.8
5.85.9
.9
.6
.42.93.01.81.5
1.5.7
1.21.61.2
193.43.04.76.1
5.53.43.48.8
12.2
7.04.86.89.0
13.3
12.48.93.93.84.0
3.8
Yearto
year
0
-5.1
-1.4
1.05.0
10.76.11.7
2.38.5
14.47.8
-1.0
1.07.92.2
.8
.5
-.41.53.62.7
.8
1.61.01.11.21.3
172.92.94.25.4
5.94.33.36.2
11.0
9.15.86.57.7
11.3
13.510.46.13.24.3
3.6
Commodities
Total
Dec.to
Dec.1
-1.0
1.213.513.04.02.2
2.924.910.4
1.7-4.1
7.75.9
-.7-.6
-1.4
-.42.62.61.3
.6
1.101.01.4.8
162.52.53.85.5
4.02.93.4
10.412.7
6.33.36.18.9
13.0
11.16.03.62.92.6
2.5
Yearto
year
-2.0
1.06.7
14.58.91.3
2.910.820.2
7.2-2.6
.69.01.3
-.3-.9
-.9.9
3.12.3
.1
.9
.5
.9
.91.1
122.61.83.74.5
4.73.43.07.4
12.0
8.94.35.87.1
11.4
12.28.44.02.93.4
2.1
Food
Dec.to
Dec.1
2.3
7.0
-2.5
2.616.417.53.1
.2
3.031.511.2
-0.8-3.7
9.67.4
-1.1-1.3-1.6
-.93.12.82.2
-.8
3.1-.91.51.91.4
343.91.24.37.2
2.24.34.7
20.112.2
6.5.6
8.011.810.2
10.24.33.12.63.8
2.7
Yearto
year
1.3
-2.9
-2.8
1.79.1
17.411.5
-1.4
2.214.621.5
8.5-4.0
1.411.11.8
-1.5-.2
-1.4.7
3.34.2
-1.6
1.01.3.9
1.41.3
2 25.0
.93.65.1
5.53.04.3
14.514.4
8.53.16.3
10.010.9
8.67.94.02.13.8
2.3
Commoditiesless food
Dec.to
Dec.1
0.2
.410.86.45.45.0
3.012.99.15.3
-4.8
5.74.6-.5
.2-1.4
02.52.2
.81.5
-.3.6.7
1.2.4
71.93.13.74.5
4.82.32.55.0
13.2
6.25.14.97.7
14.3
11.56.73.83.12.0
2.4
Yearto
year
-1.6
.65.0
11.14.35.5
4.16.2
12.87.7
-1.5
-.17.5
.9
.2-1.1
-.71.03.11.11.3
.4
.3
.7
.7
.86
1.42.63.74.2
4.13.82.23.4
10.6
9.25.05.45.8
11.7
13.88.64.03.23.1
2.1
Services
Total
Dec.to
Dec.1
0.2
.72.52.02.61.7
1.03.55.26.13.6
3.65.24.64.21.9
2.33.14.52.73.7
2.71.91.72.31.8
264.94.06.17.4
8.24.13.66.2
11.3
8.17.37.99.3
13.7
14.213.04.34.85.4
5.1
Yearto
year
0.2
.21.43.21.82.4
1.51.94.16.34.8
3.25.34.44.33.3
2.02.54.03.82.9
3.32.01.92.01.9
2 23.94.45.26.9
8.15.63.84.49.3
9.58.37.78.5
11.0
15.413.19.03.55.2
5.1
Medical careservices
Dec.to
Dec.1
0.3
01.53.95.82.8
2.98.96.57.02.1
3.35.85.53.62.6
3.24.14.54.94.6
3.83.53.02.62.6
3.58.17.97.47.0
8.35.33.85.8
13.3
10.310.79.09.2
10.6
10.012.711.26.15.8
6.8
Yearto
year
0.3
0.6
3.15.04.2
2.75.88.56.73.7
2.35.16.43.63.0
2.94.04.34.94.8
4.03.73.23.02.4
3.25.48.77.38.1
7.17.33.74.4
10.3
12.610.19.98.69.7
11.310.711.98.76.0
6.0
Energy2
Dec.to
Dec.1
-0.74.3
1.5-1.1
2.1-.8_ 2
2.01.81.41.73.1
4.53.12.8
16.821.6
11.66.97.28.0
37.4
18.111.91.3
'.2
1.8
Yearto
year
6.21.7
2.6.2.3.3
-.4
1.81.62.21.52.7
2.73.92.88.0
29.3
10.67.29.56.3
25.2
30.913.51.5.8
1.0
.7
1 Changes from December to December are based on unadjusted indexes.2 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-55.Source-. Department of Labor, Bureau of Labor Statistics.
320Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-60.—Producer price indexes by stage of processing, 1947-85
[1967 = 100]
Year or month
194719481949
19501951195219531954
19551956195719581959
I9601961196219631964
1965196619671968 ...1969
19701971197219731974
19751976197719781979
1980198119821983 ....1984
19851
1984- Jan .FebMarAprMayJune
JulyAugSeptOctNovDec
1985- JanFebMarAprMayJune
JulyAug lSeptOctNovDec
Finished goods
Totalfinishedgoods
74.079.977.6
79.086.586.085.185.3
85.587.991.193.293.0
93.793.794.093.794.1
95.798.8100.0102.8106.6
110.3113.7117.2127.9147.5
163.4170.6181.7195.9217.7
247.0269.8280.7285.2291.1
293.8
289.5290.6291.4291.2291.1290.9
292.3291.3289.5291.5292.3292.0
292.1292.6292.1293.1294.1294.0
294.8293.5290.2294.8296.7297.2
Consumer foods
Total
82.890.483.1
84.795.294.389.488.7
86.586.389.394.590.1
92.191.792.591.491.9
95.4101.6100.0103.6110.0
113.5115.3121.7146.4166.9
181.0180.4189.9207.2226.2
239.5253.6259.3261.8273.3
271.2
272.2274.7276.6274.3271.7270.8
275.3274.0273.0271.1272.0273.6
273.7275.6273.7272.2269.5268.7
271.2268.7266.5268.7272.0274.4
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
181.2193.9201.0216.8233.1
237.2263.8252.7258.7281.6
261.9
306.9313.6323.7299.0270.7258.9
270.8274.6270.3269.5257.6263.0
255.4279.4275.5279.9254.2237.0
261.5251.2249.1247.3265.3287.3
Proc-essed
80.287.680.1
83.493.291.386.787.6
84.484.387.993.189.5
90.790.991.790.790.8
94.9101.0100.0103.0108.9
113.1115.1121.7143.9164.6
181.3177.8187.3204.6223.8
237.8250.6257.7260.0270.3
269.9
266.9269.0270.2269.9269.6269.7
273.4271.7271.1269.1271.0272.3
273.1273.1271.3269.3268.7269.3
269.9268.1265.9268.4270.3271.0
Finished goods excluding consumer foods
Total
100.0102.6105.4
109.1113.1115.4120.1139.3
156.2166.1177.7190.7213.3
247.8273.3285.8290.8294.8
299.1
292.9293.6294.0294.6295.3295.4
295.7294.8292.7296.1296.9295.8
296.0295.9296.0297.8300.1300.2
300.5299.5296.0301.4302.7302.5
Consumer goods
Total
79.084.082.2
83.589.588.389.189.4
90.192.394.694.795.9
96.396.296.096.095.9
96.698.1100.0102.1104.6
107.7111.4113.5118.6138.6
153.1162.6174.3186.7211.5
250.8276.5287.8291.4294.1
297.4
292.5293.1293.6293.5294.9294.9
295.0293.8291.7295.0295.9294.8
294.3293.5293.6295.9299.0299.0
299.2297.8294.7299.4301.1301.1
Durable
74.679.781.8
82.788.288.989.690.3
91.294.397.198.499.6
99.298.898.397.898.2
97.998.5100.0102.2104.0
106.9110.8113.3115.4125.9
138.2144.5152.8166,9183.2
206.2218.6226.7233.1236.8
241.5
235.9236.1236.6236.7236.6236.4
236.6236.7233.0238.3239.0239.2
240.2240.9240.4240.7241.4241.9
241.9241.8234.4244.9245.0244.4
Non-durable
80.785.882.3
83.690.087.888.688.9
89.491.193.292.694.0
94.794.794.895.194.8
95.997.8100.0102.2105.0
108.3111.7113.6120.5146.8
163.0174.8189.3200.0231.3
283.9319.6333.6335.3337.3
339.4
335.0336.1336.7336.4338.9339.2
339.2336.9336.2337.8338.9336.7
334.9332.7333.4337.4342.4342.1
342.4340.0340.3340.2343.3343.7
Capitalequipment
55.460.463.4
64.971.272.473.674.5
76.782.487.589.891.5
91.791.892.292.493.3
94.496.8100.0103.5106.9
112.0116.6119.5123.5141.0
162.5173.4184.6199.2216.5
239.8264.3279.4287.2294.0
300.5
291.6292.3292.3294.5293.9293.9
294.6294.6292.5295.9296.5295.6
297.4299.2299.3299.9300.3300.5
300.8301.0296.4303.7303.8303.5
Totalfinishedconsumergoods
80.586.582.5
83.991.890.789.289.1
88.589.892.494.493.6
94.594.394.694.194.3
96.199.4100.0102.7106.6
109.9112.9116.6129.2149.3
163.6169.7180.7194.9217.9
248.9271.3281.0284.6290.3
291.9
288.9290.1291.1290.3290.3290.1
291.6290.4288.7290.3291.2290.9
290.6290.7290.1291.2292.4292.2
293.1291.4288.5292.4294.7295.4
See next page for continuation of table.
321
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-60.—Producer price indexes by stage of processing, 1947-85—Continued
[1967 = 100]
Year or month
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985 l
1984: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1985: JanFebMarAprMayJune
JulyAug 1
SeptOctNovDec
Intermediate materials, supplies, and components
Total
72.478.3752
78.688.185586.086.5
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
318.7
316.3317.6319.7320.3320.9321.6
321.7321.1320.3320.1320.4319.9
319.5318.7318.6319.3319.9319.3
318.6317.9317.9317.8318.1318.8
Foodsand
feeds3
••"""•"••
100.099.4
102.7
109.1111.7118.5168.4200.2
195.3185.3190.5203.1226.1
252.6250.3239.4247.9253.1
232.7
260.7255.1257.5259.1260.8257.8
255.3251.4248.1244.0244.3243.0
240.7239.2236.7235.4232.6232.2
231.7227.1225.5228.5231.0231.7
Other
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
325.0
320.6322.3324.4325.0325.4326.4
326.7326.3325.7325.8326.1325.6
325.4324.5324.7325.5326.4325.7
325.0324.5324.6324.3324.5325.2
Materials andcomponents
Formanufac-
turing
72.177.874.5
78.188.584.886.286.3
88.492.694.895.296.5
96.595.394.794.995.9
97.499.3
100.0102.2105.8
110.0112.8117.0127.7162.2
178.7185.4195.4208.7234.4
265.7286.1289.8293.4301.8
299.4
298.9299.8301.8302.9303.3303.4
303.2302.5301.9301.4301.7301.1
300.6300.5300.0300.6300.5300.3
299.8299.1298.3298.0297.6297.6
Forcon-
struction
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
315.2
305.5307.8309.6310.5309.8310.3
310.9312.0311.7311.8311.8312.4
313.4313.3313.5314.0315.9317.3
316.9316.5315.5315.4315.1315.4
Proc-essedfuelsand
lubri-cants
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
503.0595.4591.7564.8566.2
549.4
556.4561.3567.8562.9567.2575.2
576.6569.2565.3564.1566.6561.3
556.3546.3547.9552.3558.0549.1
544.0539.8546.3544.9550.7557.3
Con-tainers
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
254.5276.1285.6286.6302.3
311.2
292.3294.8297.3299.4300.9301.8
303.0304.1305.2308.8310.1310.4
311.1311.8313.1312.4311.7312.0
311.4310.3309.9310.4309.8310.7
Supplies
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
168.1179.0188.7198.5218.2
244.5263.8272.1277.1283.4
284.2
282.6282.2283.0284.2284.3283.9
283.2284.1283.6283.2282.9283.1
283.9283.8283.8283.7283.4283.3
283.6284.1284.3285.0285.8285.9
Crude materials for further processing
Total
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
304.6329.0319.5323.6330.8
306.2
333.5332.6338.8339.4338.0333.0
334.1328.9326.2319.6323.2322.4
318.9318.1312.3311.0309.1305.6
303.9295.3292.4298.0305.6304.7
Food-stuffsand
feed-stuffs
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
259.2257.4247.8252.2259.5
235.0
264.0260.5269.9269.7266.4260.3
263.6256.5252.7244.9252.8253.0
250.7250.0242.9239.9236.3233.7
231.6221.0215.9224.5236.7236.8
Other
Total
100.t)102.2106.8
112.7117.0128.0162.5208.9
206.9228.5245.0272.3330.0
401.0482.3473.9477.4484.5
459.7
483.4488.1487.5490.1492.3489.6
486.4485.0484.6480.3475.2472.0
466.0465.1462.0464.2466.0460.5
459.6454.7456.4455.8454.2451.3
Fuel
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
615.0751.2886.1931.5931.3
912.3
926.1926.6910.6920.8928.4932.6
940.2953.1937.6935.9934.0929.8
916.6930.5910.8915.0938.8924.8
921.6904.0908.1899.6894.9883.0
Other
90.6100.791.6
104.7120.7104.6100.198.2
103.8107.6106.2102.2105.8
101.4102.5102.0100.7102.4
104.5106.7100.0102.1106.9
109.8110.7121.9161.5205.4
188.3206.7212.2233.1284.5
346.1413.7376.8372.2380.5
355.4
380.1385.5387.8388.8389.9386.1
380.9376.8379.3374.7369.2366.4
361.9358.2358.4360.2357.7354.0
353.5351.2352.5353.3352.3351.1
1 Data have been revised through August 1985 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.
322
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-61.—Producer price indexes by stage of processing, special groups, 1974-85
[1967 = 100]
Year or month
197419751976197719781979
198019811982198319841985 2
1984: JanFebMar
June
JulyAugSeptOctNovDec
1985: JanFebMarAprMayJune
JulyA u g 2
SeptOctNovDec
Finished goods
Total
147.5163.4170.6181.7195.9217.7
247.0269.8280.7285.2291.1293.8
289.5290.6291.4291.2291.1290.9
292.3291.3289.5291.5292.3292.0
292.1292.6292.1293.1294.1294.0
294.8293.5290.2294.8296.7297.2
Foods
166.9181.0180.4189.9207.2226.2
239.5253.6259.3261.8273.3271.2
272.2274.7276.6274.3271.7270.8
275.3274.0273.0271.1272.0273.6
273.7275.6273.7272.2269.5268.7
271.2268.7266.5268.7272.0274.4
Ener-gy
215.2252.4282.3326.7347.7469.9
701.3835.4822.9783.6750.3721.4
753.8757.3757.9751.1762.7764.8
755.6741.0732.1743.5747.6736.0
711.7692.0693.2714.9746.1741.4
733.8719.9718.9716.1732.9736.1
Excluding foods andenergy
Total
133.3148.5156.8166.3178.7194.7
216.4235.1248.6256.1262.3268.7
260.1260.6261.0262.0262.1262.0
262.8262.9261.2264.1264.6264.3
266.0267.2267.2267.7268.2268.6
269.4269.4265.6271.6271.8271.4
Cap-ital
equip-ment
141.0162.5173.4184.6199.2216.5
239.8264.3279.4287.2294.0300.5
291.6292.3292.3294.5293.9293.9
294.6294.6292.5295.9296.5295.6
297.4299.2299.3299.9300.3300.5
300.8301.0296.4303.7303.8303.5
Con-sumergoods
exclud-ing
foodsand
energy
129.1141.0148.1156.6168.0183.3
204.2220.1232.6239.9245.9252.1
243.8244.2244.7245.2245.6245.5
246.4246.4245.0247.5248.1248.0
249.6250.5250.5251.1251.5252.0
252.9252.9249.5254.9255.1254.7
Intermediate materials, supplies,and components
Total
162.9180.0189.1201.5215.6243.2
280.3306.0310.4312.3320.0318.7
316.3317.6319.7320.3320.9321.6
321.7321.1320.3320.1320.4319.9
319.5318.7318.6319.3319.9319.3
318.6317.9317.9317.8318.1318.8
Foodsand
feeds1
200.2195.3185.3190.5203.1226.1
252.6250.3239.4247.9253.1232.7
260.7255.1257.5259.1260.8257.8
255.3251.4248.1244.0244.3243.0
240.7239.2236.7235.4232.6232.2
231.7227.1225.5228.5231.0231.7
Ener-gy
188.7220.8236.8267.3280.3348.6
484.9573.6570.8543.9545.0528.8
536.2540.8546.7542.2546.2553.5
554.5547.7544.0543.0545.2540.4
535.7526.0527.5531.5536.7528.6
523.8519.8526.0524.4529.5536.3
Other
156.7174.7185.0196.1210.4234.2
261.8283.4290.1294.8303.6305.2
299.5301.0302.7303.8303.9304.2
304.4304.8304.5304.7304.8304.8
305.1305.3305.2305.6305.9306.0
305.6305.5304.9304.6304.2304.2
Crude materials for furtherprocessing
Total
196.1196.9202.7209.2234.4274.3
304.6329.0319.5323.6330.8306.2
333.5332.6338.8339.4338.0333.0
334.1328.9326.2319.6323.2322.4
318.9318.1312.3311.0309.1305.6
303.9295.3292.4298.0305.6304.7
Food-stuffs
andfeed-stuffs
189.4191.8190.2192.1216.2247.9
259.2257.4247.8252.2259.5235.0
264.0260.5269.9269.7266.4260.3
263.6256.5252.7244.9252.8253.0
250.7250.0242.9239.9236.3233.7
231.6221.0215.9224.5236.7236.8
Ener-gy
223.0266.9283.1323.5362.5439.9
586.1783.4801.5791.1785.2749.1
786.0786.4780.1783.1786.4787.7
790.5795.0788.5787.2778.4773.1
757.5754.1746.4749.1760.7754.5
752.6742.9745.4743.4742.9739.5
Other
198.3165.0191.0190.1209.2253.0
269.4266.0238.1250.7266.1249.7
263.7271.1274.3276.4277.8272.8
265.6260.4264.0258.0255.5253.9
254.4255.3255.4257.3252.3247.4
247.2245.8246.9247.2244.9242.6
1 Intermediate materials for food manufacturing and feeds.2 Data have been revised through August 1985 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.
323
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-62.—Producer price indexes for major commodity groups, 1941-8
[1967-100]
Year or month
194719481949
1950.1951195219531954 . .. .19551956 . .195719581959
19601961 .19621963 . . .196419651966196719681969
19701971 . . .1972197319741975197619771978 . . . .1979
1980198119821983198419852
1984- JanFebMar .. .AprMayJune
JulyA u g . . .SeptOctNovDec
1985- JanFebMarAprMayJune
JulyA u g 2
SeptOctNovDec
Farm products and processedfoods and feeds
Total
94.3101.5
89.6
93.9106.9102.7
96.095.791.290.693.798.193.5
93.793.794.793.893.297.1
103.5100.0102.4108.0
111.7113.9122.4159.1177.4184.2183.1188.8206.6229.8
244.7251.5248.9253.9262.4250.5
264.4263.4267.9267.3265.8262.8
264.9261.4259.4255.3258.1258.6
257.6258.0254.6253.1250.2249.1
249.6244.0241.4245.3251.0252.1
Farmproducts
109.4117.5101.6
106.7124.2117.2106.2104.7
98.296.999.5
103.997.5
97.296.398.096.094.698.7
105.9100.0102.5109.1
111.0112.9125.0176.3187.7186.7191.0192.5212.5241.4
249.4254.9242.4248.2255.8230.4
263.4261.6267.4265.4260.8257.1
258.7253.3249.8240.2245.7245.7
243.2245.3238.8236.8230.4229.4
229.3218.0212.9219.5230.1231.6
Processedfoods and
feeds
82.988.780.6
83.492.791.687.488.985.084.987.491.889.4
89.591.091.992.592.395.5
101.2100.0102.2107.3
112.1114.5120.8148.1170.9182.6178.0186.1202.6222.5
241.2248.7251.5255.9265.0260.5
263.8263.4267.1267.2267.5264.8
267.3264.8263.6262.6263.8264.5
264.4263.9262.3260.9260.0258.8
259.7257.3256.0258.4261.5262.3
Industrial commodities
Total
70.876.975.3
78.086.184.184.885.086.990.893.393.695.3
95.394.894.894.795.296.498.5
100.0102.5106.0
110.0114.1117.9125.9153.8171.5182.4195.1209.4236.5
274.8304.1312.3315.7322.6323.9
319.1320.6321.9322.6323.2323.8
323.9323.3322.2323.4323.8323.0
322.9322.2322.5323.8325.3324.8
324.4323.7322.5324.4325.0325.2
Textileproducts
andapparel
103.6108.198.9
102.7114.6103.4100.898.698.798.798.897.098.4
99.597.798.698.599.299.8
100.1100.0103.7106.0
107.1109.0113.6123.8139.1137.9148.2154.0159.8168.7
183.5199.7204.6205.1210.0210.4
208.2209.6209.9209.9210.5210.2
210.5210.1210.7210.4210.2210.0
210.3210.6210.5210.7210.5210.2
210.2210.4210.6210.2210.2210.7
Hides,skins,
leather,and
relatedproducts
83.384.279.9
86.399.180.181.377.677.381.982.082.994.2
90.891.792.790.090.394.3
103.4100.0103.2108.9
110.3114.1131.3143.1145.1148.5167.8179.3200.0252.4
248.9260.9262.6271.1286.3286.2
279.1283.3286.7286.8288.5290.1
288.9288.7288.7287.7283.8283.6
283.7283.7282.4284.7284.2285.5
284.6286.3287.0289.4290.4292.6
Fuels andrelated
products,and
power l
76.990.586.2
87.190.390.192.691.391.294.099.195.395.3
96.197.296.796.393.795.597.8
100.098.9
100.9
106.2115.2118.6134.3208.3245.1265.6302.2322.5408.1
574.0694.5693.2664.7656.8634.2
652.1656.0658.7654.7660.6665.9
665.0657.9652.3654.4655.3648.5
636.8625.3625.3633.9647.3640.6
635.4627.6631.2629.2636.8640.9
Chemicalsand alliedproducts *
93.795.987.6
88.9101.796.597.798.998.599.1
101.2102.0101.6
101.8100.799.197.998.399.099.4
100.099.899.9
102.2104.1104.2110.0146.8181.3187.2192.8198.8222.3
260.3287.6292.3293.0300.8303.0
298.1296.5300.1302.0302.7302.2
302.6301.1300.9301.3301.6300.7
301.6302.2302.6303.3303.2303.7
304.6304.6303.3302.8302.6301.5
1 Prices for some items in this grouping areitems was eliminated beRinning with the June l
See next page for continuation of table.
and refer to 1 month earlier than the index month; the lag for refined petroleumdata.
324
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-62.—Producer price indexes for major commodity groups, 1947-85—Continued
[1967 = 100]
Year or month
19471948194919501951195219531954..1955195619571958195919601961196219631964 . ..196519661967.196819691970197119721973197419751976197719781979.198019811982.198319841985 2
1984: JanFeb.MarAprMay .JuneJulyAugSeptOctNovDec
1985: JanFebMarApr ...MayJuneJuly . ...A u g 2
Sept ....OctNovDec.
Industrial commodities— Continued
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
100.0103.4105.3108.3109.1109.3112.4136.2150.2159.2167.6174.8194.3217.4232.6241.4243.2246.8245.8
244.8246.2246.4247.3247.5247.6247.5247.7248.3246.6246.1245.9
246.7246.4246.5246.6246.4246.2245.8244.8244.5245.3245.2244.8
Lumberand
woodproducts
73.484.077.789.397.294.494.392.697.198.593.592.498.895.391.091.693.595.495.9
100.2100.0113.3125.3113.6127.3144.3177.2183.6176.9205.6236.3276.0300.4288.9292.8284.7307.1307.4303.6
309.1315.7316.8315.1308.5307.1304.4304.7303.3300.3301.0303.0
304.4303.4303.1301.5306.8313.1310.1305.5300.5300.1297.1297.9
Pulp,paper,
andallied
products
72.575.772.474.388.085.785.585.587.893.695.496.497.398.195.296.395.695.496.298.8
100.0101.1104.0108.2110.1113.4122.1151.7170.4179.4186.4195.6219.0249.2273.8288.7298.1318.5327.3
309.1312.0314.0316.3317.7318.4319.8321.3322.0323.1324.1324.1
327.1327.6327.7327.6327.3327.1326.8326.9326.9327.4327.6327.5
Metalsand
metalproducts
54.962.563.066.373.873.976.376.982.189.291.090.492.392.491.991.291.393.896.498.8
100.0102.6108.5116.6118.7123.5132.8171.9185.6195.9209.0227.1259.3286.4300.4301.6307.2316.1314.9
312.9314.8316.8317.9317.4317.3316.1316.2315.6316.0316.4315.5
315.0315.6315.4316.8316.4314.9314.5314.7314.5314.3313.5313.5
Machineryand
equipment
53.758.261.063.170.570.672.273.475.781.887.689.491.392.091.992.092.292.893.996.8
100.0103.2106.5111.4115.5117.9121.7139.4161.4171.0181.7196.1213.9239.8263.3278.8286.4293.1298.9
289.7290.2291.0292.2292.6293.1294.0294.1294.3294.8295.3295.6
297.0297.6297.8298.1298.4298.9299.2299.6299.9299.8300.1300.2
Furnitureand
householddurables
77.081.682.984.791.890.191.992.993.395.898.399.199.399.098.497.797.097.496.998.0
100.0102.8104.9107.5110.0111.4115.2127.9139.7145.6151.5160.4171.3187.7198.5206.9214.0218.7221.7
216.8217.2217.4218.2219.1219.1219,2219.2219.0219.2220.0220.1
220.3220.8221.1221.7221.7221.6222.0222.0222.3222.0222.2222.4
Non-metallicmineral
products
66.371.673.575.480.180.183.385.187.591.394.895.897.097.297.697.697.197.397.598.4
100.0103.7107.7112.9122.4126.1130.2153.2174.0186.3200.5222.8248.6283.0309.5320.2325.2337.3347.8
330.1332.2333.4335.8337.6338.3339.8340.8340.5340.0339.6340.1
341.7342.6343.9345.5348.1349.3349.7350.3349.8350.4350.8351.2
Transpor-tationequip-ment:Motor
vehiclesand
equip-ment3
64.170.875.775.379.484.083.683.886.391.295.198.1
100.398.898.698.697.898.398.598.6
100.0102.8104.8108.7114.9118.0119.2129.2144.6153.8163.7176.0190.5208.8237.6251.3256.8261.5267.3
261.1261.2261.5261.9261.5261.1261.4261.1255.2263.8264.3263.5
265.2266.7266.2266.2267.3267.5267.7267.7254.7273.5273.3272.0
Miscella-neous
products
73.576.578.079.283.983.485.686.486.587.690.292.092.293.093.393.794.595.295.997.7
100.0102.2105.2109.9112.9114.6119.7133.1147.7153.7164.3184.3208.7258.8265.7276.4289.6295.9302.3
294.5294.9294.9294.6294.3295.7297.3298.2296.7296.5296.5296.7
299.2300.7300.6301.6301.4301.3303.5303.4303.2303.7304.3304.6
2 Data have been revised through August 1985 to reflect the availability of late reports and corrections by respondents. All data aresubject to revision 4 months after original publication.
3 Index for total transportation equipment is not shown but is available beginning December 1968.
Source: Department of Labor, Bureau of Labor Statistics.
325Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-63.—Changes in producer price indexes for finished goods, 1955-85
[Percent change]
Year or month
19551956195719581959
19601961196219631964
19651966196719681969
1970."1971197219731974
19751976197719781979
1980.1981198219831984
1985 2
1984: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1985: JanFebMarAprMayJune
JulyAug 2
SeptOctNovDec
Totalfinishedgoods
Dec. toDec.1
124 23.2
.54
1.8-.5
.1-.2
.5
3.32.21.63.14.8
2.23.23.8
11.818.3
6.63.76.99.2
12.8
11.87.13.7
.61.7
1.8
Yearto year
02283.62.3
2
.80.3
-.3.4
1.73.21.22.83.7
3.53.13.19.1
15.3
10.84.46.57.8
11.1
13.59.24.01.62.1
.9
Finishedconsumer
foods
Dec. toDec.1
-2.9365.3
.437
5.2-1.8
.5-1.3
.4
9.11.4
-.44.88.2
-2.55.98.0
22.513.0
5.5-2.5
6.911.7
7.4
7.51.42.12.33.5
.3
Yearto year
-252
3.55.84 7
2.2-.4
.9-1.2
.5
3.86.5
-1.63.66.2
3.21.65.6
20.314.0
8.4-.35.39.19.2
5.95.92.21.04.4
-.8
Finished goods excluding consumer foods
Total
Dec. toDec.1
2A3.4
4.32.12.16.6
21.2
7.26.26.98.3
14.8
13.38.84.1
.01.1
2.3
Yearto year
2!e2.7
3.53.72.04.1
16.0
12.16.37.07.3
11.9
16.210.34.61.71.4
1.5
Consumergoods
Dec. toDec.1
1.72.51.7
.2
.8
.4-.3-.1
.1
.1
.91.72.12.02.9
3.92.02.07.4
20.5
6.76.06.78.5
17.5
14.28.54.2-.8
.8
2.1
Yearto year
0.82.42.5
.11.3
.4-.1-.20-.1
.71.61.92.12.4
3.03.41.94.5
16.9
10.56.27.27.1
13.3
18.610.24.11.3
.9
1.1
Capitalequipment
Dec. toDec.1
5.68.34.31.31.0
.1
.2
.3
.5
.9
1.53.93.13.04.6
4.92.42.05.3
22.6
8.26.47.37.98.8
11.49.23.91.91.8
2.7
Yearto year
3.07.46.22.61.9
.2
.1
.4
.21.0
1.22.53.33.53.3
4.84.12.53.3
14.2
15.26.76.57.98.7
10.810.25.72.82.4
2.2
Finishedenergygoods
Dec. toDec.1
16.411.512.18.5
58.0
27.814.1-.1
-9.2-4.1
.0
Yearto year
17.311.815.76.4
35.1
49.219.1
-1.5-4.8-4.2
-3.9
Finished goodsexcluding foods
and energy
Dec. toDec.1
6.15.66.38.39.4
10.77.84.91.82.1
2.7
Yearto year
11.45.66.17.59.0
11.18.65.73.02.4
2.4
Percent change from preceding month
Unad-justed
0.8.4.3
-.1-.0_ i
.5-.3-.6
.7
.3-.1
.0
.2-.2
.3
.3-.0
.3-.4
-1.11.6
.6
.2
Sea-son-allyad-
justed
0.7.3.5.0
-.10
.2_ 2o'
_ i
o'-.0
.1
.1
.4
.2-.2
.3
-!6.9.8.4
Unad-justed
3.0.9.7
-.8-.9-.3
1.7— .5_ 4-.1
.3
.6
.0
.7-.7-.5
-1.0-.3
.9-.9-.8
.81.2.9
Sea-son-allyad-
justed
2.4.2
1.0-1.1-.80
1.5-.3-.1-.1
.5
.4
-.5.1
-.4-.9
-1.1-.0
1.0-.8-.71.41.6.8
Unad-justed
0.1.2.1.2
!o.1
-.3-.71.2.3
-.4
.1-.0
.0
.6
.8
.0
.1-.3
-1.21.8.4
-.1
Sea-son-allyad-
justed
0.1.3.4.4.1
0
-.2-.2
.0-.0
.3-.1
.1
.0
.3
.8
.6-.2
.0-.2-.5
.6
.6
.3
Unad-justed
0.2.2
-.0.5
0
.0-.4-.71.1.3
-.4
-.2_ 3'.0.8
1.013
.1-.5
-1.01.6.6
0
Sea-son-
^justed
0.1.3.4.3.2
-.1
-.3-.3-.0
.0
.3-.0
-.1-.2
n.8
-.4
0-.3-.5
.5
.8
.4
Unad-justed
0.4.2
0.8
-.20
.20_ 712
.2-.3
.6
.6
.0
.2
.1
.1
.1
.1-1.5
2.5.0
-.1
Sea-son-allyad-
justed
0.3.4.3.6
-.2.1
.2
.2
.2_ 2
'.3-.3
.4
.8
.3
.0
.2
.1
.1
.3-.61.0.1
-.1
Unad-justed
-1.8.5.1
-.91.5.3
-1.2-1.9-1.2
1.6.6
-1.6
-3.3-2.8
.23.14.4-.6
-1.0-1.9-.1_ 42.3
.4
Sea-son-
3justed
-1.0.8
-1.12.1
.2-1.0
-2.2-2.3-1.0
1.4.6
-.6
-2.6-2.5-.96.13.0
-2.8
-1.5-1.7-.2_ 23.11.8
Unad-justed
0.5.2.2.4.0
-.0
.3
.0-.61.1.2
-.1
.6
.50
.2
.2
.1
.30
-1.42.3
.1-.1
Sea-son-allyad-
justed
0.3.2.7.1.1.2
.2
.2
.2— 3
'.2-.0
.6
.5
.5-.1
.2
.2
.3
.1-.6
.8
.1-.0
1 Changes from December to December are based on unadjusted indexes.2 Data have been revised through August 1985 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.
326Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MONEY STOCK, CREDIT, AND FINANCE
TABLE B-64.—Money stock, liquid assets, and debt measures, 1959-85
[Averages of daily figures; billions of dollars, seasonally adjusted]
Period
December:1959
I9601961196219631964 „
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985"
1985: JanFebMarAprMayJune
JulyAug ..SeptOctNov"Dec p
Ml
Sum ofcurrency,demanddeposits,travelers
checks, andother
checkabledeposits(OCDs)
141.0
141.8146.5149.2154.7161.9
169.5173.7185.1199.4205.8
216.6230.8252.0265.S277.5
291.1310.3335.3363.0389.0
414.8441.8480.8528.0558.5
624.7
562.7569.4572.1574.9581.6591.2
595.8605.9611.9611.1617.9624.7
M2
Ml plusovernightRPs and
Eurodollars,MMMF
balances(general
purpose andbroker/dealer),
MMDAs, andsavings andsmall timedeposits
297.8
312.3335.5362.7393.2424.8
459.4480.0524.3566.3589.5
628.2712.8805.2861.0908.4
1,023.11,163.61,286.61,388.91,497.9
1,631.41,794.41,954.92,188.82,371.7
2,563.6
2,398.92,421.02,429.62,427.72,444.92,472.9
2,490.62,514.12,528.92,533.02,547.12,563.6
M3
M2 pluslarge timedeposits,term RPs,
termEurodollars,
andinstitution-only MMMF
balances
299.8
315.3341.0371.4406.0442.5
482.2505.1557.1606.2615.0
677.5776.2886.0985.0
1,070.4
1,172.21,311.81,472.51,646.41,803.6
1,988.52,235.82,446.82,701.72,995.0
3,213.5
3,020.53,041.03,055.93,056.93,076.93,104.5
3,117.23,142.63,169.33,179.73,194.73,213.5
L
M3 plusother liquid
assets
388.7
403.7430.8466.1503.8540.4
584.5614.8666.6728.9763.6
816.4903.2
1,023.11,141.81,249.2
1,367.61,516.51,704.31,909.72,115.8
2,324.82,596.62,854.83,168.93,541.3
3,564.03,595.53,623.33,625.93,644.53,675.1
3,694.63,732.93,766.73,781.73,816.8
Debt1
Debt ofdomestic
nonfinancialsectors
(monthlyaverage)
638.4
673.7716.6769.5825.5889.1
957.81.025.11,102.21,197.51,285.5
1,375.61,510.51,670.31,861.42,036.9
2,225.82,468.32,784.13,157.03,543.5
3,881.74,255.74,649.85,177.15,927.0
5,992.66,048.26,103.86,165.46,228.66,290.8
6,356.06,419.76,479.26,542.16,626.0
Percent change from year or 6months earlier2
Ml
0.63.31.83.74.7
4.72.56.67.73.2
5.26.69.25.54.4
4.96.68.18.37.2
6.66.58.89.85.8
11.9
5.97.67.69.9
10.312.1
12.113.214.413.012.911.7
M2
4.97.48.18.48.0
8.14.59.28.04.1
6.613.513.06.95.5
12.613.710.68.07.8
8.910.08.9
12.08.4
8.1
10.711.510.89.68.68.7
7.87.88.38.98.57.5
M3
5.28.28.99.39.0
9.04.7
10.38.81.5
10.214.614.111.28.7
9.511.912.311.89.5
10.312.49.4
10.410.9
7.3
11.411.611.09.28.17.4
6.56.87.68.27.87.1
Debt
8.4
5.56.47.47.37.7
7.77.07.58.67.3
7.09.8
10.611.49.4
9.310.912.813.412.2
9.59.69.3
11.314.5
14.814.314.214.013.312.7
12.512.712.712.613.2
1 Consists of outstanding credit market debt of the U.S. Government, State and local government and private nonfinancial sectors;data from flow of funds accounts.
2 Annual changes are from December to December, and monthly changes are from 6 months earlier at an annual rate.Note.—The nontransactions portion of M2 is seasonally adjusted as a whole to reduce distortions caused by substantial portfolio
shifts 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 M3. See Table B-65 for components.
Source: Board of Governors of the Federal Reserve System.
327Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-65.—Components of money stock measures and liquid assets, 1959-85
[Averages of daily figures; billions of dollars, seasonally adjusted, except as noted]
Period
December:1959
19601961196219631964
19651966 . . . . .196719681969 . . . .
19701971197219731974
19751976197719781979
19801981198219831984
1985 p
1984- JanFebMarAprMayJune
JulyAugSeptOctNovDec
1985- JanFebMar
ftJune
JulyAugSeptOctNovDec *
Currency
29.0
28.929.530.632.534.3
36.338.340.443.446.1
49.252.656.861.667.9
73.880.688.697.6
106.4
116.7124.0134.3148.4158.7
170.8
149.4150.2151.2152.1152.8154.3
155.0155.9156.8157.1157.9158.7
159.4160.5161.3161.7163.1164.5
165.4167.1167.9168.8170.0170.8
Travelerschecks
0.4
.4
.4
.4
.5
.5
.6
.6
.7
.8
.8
1.01.11.31.51.8
2.32.83.13.53.8
4.24.44.34.95.2
5.9
4.95.05.05.15.15.1
5.25.25.15.05.15.2
5.35.35.45.55.55.7
5.95.95.95.95.95.9
Demanddeposits
111.6
112.5116.5118.2121.7127.0
132.5134.6143.9155.1158.8
166.3176.9193.7202.4207.4
214.1224.3239.4253.4261.3
265.7235.2238.6243.5248.6
270.8
244.3245.2245.5245.9246.3248.9
247.3246.8247.5244.5246.8248.6
249.1251.7251.9252.5255.8260.7
260.9264.1266.8264.0266.3270.8
Othercheckabledeposits(OCDs)
0.0
.0
.0
.0
.1
.1
.1
.1
.1
.1
.1
.1
.2
.2
.3
.4
.92.74.28.5
17.5
28.278.2
103.5131.3146.0
177.2
132.7133.8135.6136.1138.3139.0
139.4141.0142.2141.8143.9146.0
149.0151.8153.6155.3157.3160.3
163.6168.9171.3172.4175.7177.2
Overnightrepur-chaseagree-ments(RPs)
net, plusovernightEurodol-
larsNSA
0.0
.0
.0
.0
.0
.0
.0
.0
.0
.02.2
1.32.32.85.35.6
5.810.614.720.321.2
28.335.938.853.857.6
72.9
56.157.356.656.358.355.9
56.358.556.756.858.057.6
62.969.668.159.464.163.0
62.666.166.667.168.872.9
Money market mutualfund (MMMF)
balances
Generalpurpose
andbroker/dealer
NSA
0.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.11.7
2.72.42.46.4
33.4
61.6150.6185.2138.2167.5
175.8
137.8142.1144.8145.9146.5148.9
150.5150.6152.1155.6162.0167.5
171.9175.1177.6176.2172.2175.4
175.8176.8176.7177.0176.5175.8
Institu-tion only
NSA
0.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.2
.4
.6
.93.19.5
15.238.051.143.262.7
64.5
43.544.645.045.045.345.7
46.146.246.952.258.362.7
65.062.259.559.663.567.1
65.063.662.363.364.564.5
Moneymarketdeposit
accounts(MMDAs)
NSA
0.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.043.2
379.2415.1
509.0
384.0390.0396.9401.0399.4397.8
394.2388.9388.6392.0402.4415.1
433.7448.3457.9460.3463.8475.1
484.1492.1496.7501.1506.5509.0
Savingsdeposits
146.4
159.1175.5194.8214.4235.2
256.9253.1263.7268.9263.7
261.0292.2321.4326.7338.5
388.8453.2492.1481.7423.3
400.8344.4357.8307.0288.6
305.0
305.1303.8302.9301.9301.5300.8
299.1296.5294.6292.6290.7288.6
288.6289.4288.6287.8289.3292.1
296.0300.3301.7304.3305.8305.0
See next page for continuation of table.
328Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-65.—Components of money stock measures and liquid assets, 1959-85—Continued
[Averages of daily figures; bi l l ions of dollars, seasonally adjusted, except as noted]
Period
December:1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979 ... .
1980198119821983... .. .1984
1985 p
1984: JanFebMarAprMayJune
J u l y .AugSeptOctNov . .Dec
1985: JanFebMarAprMayJune
JulyAugSeptOctN o v p
Dec p
Smalldenomi-nationtime
deposits »
114
12514.820125.5292
34555.0778
100.51204
151 1189.72316265.8287.9
337.93908445.6521.2634.6
7290823.685157846885.6
8783
790.379628023811282268340
8436855.08645872787858856
881.9877.6878.68853892.0894.2
88858784874.4871.68717878 3
Largedenomi-nationtime
deposits J
1.2
203.97 0
10.8152
21223.130937.4204
45257.7733
111.1144.8
129.71181145.0195.1222.0
2589302.132833308416.2
441 1
336.134303497357736983795
3893392.63960405241074162
416.9419.3423.64273428.2424.1
42004214428.643334377441 1
Termrepur-chaseagree-ments(RPs)NSA
0.0
0.00
.00
0.00.0
26
162.7356.87.9
8.214019.126.629.5
34036.034551.869.7
764
50.1514535573595592
60064.1666693707697
65.065.768.971968.866.9
65.067670.770.6743764
TermEurodol-
lars
NSA
0.7
.81.4161.92 4
172.12 12.92 7
2 22.7365.48.0
-9.714820.231.844.7
50367.581791.583.2
768
89.089493292.193089.3
88.386.585.6806819832
81.181.384.781.081.879.9
79.480280.880.3797768
Savingsbonds
46.1
45.746.546.948.149.0
49.650.251.251.851.7
52.054.357.660.463,3
67.271.876.480.379.6
72.367.867.971.174.1
71.471.872 172.572.773.0
73.173.373.673.773.974.1
74.474.975.375.876.276.6
76.777.278.178.578.9
Short-term
Treasurysecurities
38.6
36.837.039.940.738.5
40843.338.846.2595
48936.140849.552.9
69.570.478.381.9
108.4
133.9150.41862216.3267.2
220.5222.82307235.4235.7244.8
252.1261.1273.5273.1268.0267.2
266.6270.2275.9278.2277.9286.5
286.9288.1290.0288.2303.3
Bankersaccept-ances
0.6
.91.11.11.21.3
1.61.81.82.33.3
3.53.83.55.0
12.6
10.710.814.122.027.2
32.039.743.944.143.2
43.342.944.044.746.547.7
48.247.846.844.843.443.2
42.844.646.446.144.842.8
42.742.942.943.642.5
Commer-cial paper
3.6
5.15.26.87.79.1
10.214.417.822.534.0
34.532.735.241.950.1
48.051.762.979.097.0
98.1102.8107.0135.2161.8
134.9138.1142.9146.1152.0155.5
159.4160.5157.2156.7157.6161.8
159.6164.8169.8168.9168.6164.7
171.1182.0186.6191.7197.4
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 B-64.Source: Board of Governors of the Federal Reserve System.
329
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-66.—Aggregate reserves of depository institutions and monetary base,
[Averages of daily figures; millions of dollars; seasonally adjusted, except as noted]
Year and month
1959- Dec
I960- Dec1961: Dec1962- Dec1963: Dec1964- Dec
1965- Dec1966- Dec1967: Dec1968- Dec1969: Dec
1970: Dec1971- Dec1972: Dec ..1973- Dec1974- Dec
1975- Dec1976: Dec1977- Dec1978- Dec1979- Dec
1980- Dec1981- Dec1982: Dec1983- Dec1984- Dec
1985: Dec"
1984-. JanFeb . . .Mar....,AprMayJune
JulyAugSeptOctNovDec
1985- JanFebMarAprMayJune
JulyAugSeptOctNovDec "
Adjusted for changes in reserve requirements *
Reserves of depository institutions
Total
13,695
13,86314.29314,55614,85615,336
15,88115,87517,27918,18118,471
19,35620,59422,66323,67124,904
25,04425,59626,62727,90629,200
31,03832,09634,28336,13839,081
45,186
36,35737,09337,01936,97337,39737,986
38,05038,28438,08637,96138,46639,081
39,63540,43240,47140,71041,32342,177
42,60643,19343,50743,65144,37745,186
Nonbor-rowed
12,754
13,78914,16014,29614,52415,072
15,43715,34217,05117,43517,352
19,02320,46821,61322,37324,176
24,91425,54326,05727,03827,728
29,34831,46033,64935,36435,895
43,867
35,64236,52636,06835,73934,40934,686
32,12630,26830,84431,94433,84935,895
38,24039,14338,87839,38739,98940,972
41,50042,12142,21842,46442,63643,867
Nonbor-rowedplus
extendedcredit
12,754
13,78914,16014,29614,52415,072
15,43715,34217,05117,43517,352
19,02320,46821,61322,37324,323
24,92625,54326,05727,03827,728
29,35131,60833,83535,36638,499
44,367
35,64636,53136,09535,78434,44636,558
37,13437,31137,30337,00137,68638,499
39,29039,94739,93740,25640,52241,638
42,00642,69042,87443,09343.16744,367
Required
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
30,52431,77733,78335,57838,229
44,128
35,74436,15036,30836,48236,81837,212
37,43737,59537,45837,34137,77338,229
38,89039,52939,70539,97240,51941,272
41,75142,36642,84142,89843,44944,128
Mone-tary base
43,425
43,40844,43745,68347,93550,285
52,96155,03658,45362,53365,678
69,68574,37780,92187,43694,629
100,771108,347117,461128,043139,016
150,342158,097170,145185,485199,032
216,935
187,484188,938189,828190,515191,715193,659
194,460195,568196,206196,397197,672199,032
200,206202,049202,945203,562205,355207,658
208,831211,154212,384213,456215,255216,935
Borrowings of depositoryinstitutions from the Federal
Reserve, NSA
Total
941
74133260332264
444532228746
1,119
332126
1,0501,298727
13053569868
1,473
1,690636634774
3,186
1,318
715567952
1,2342,9883,300
5,9248,0177,2426,0174,6173,186
1,3951,2891,5931,3231,3341,205
1,1071,0731,2891,1871,7411,318
Seasonal
4132
14135513581
116543396113
56
86103133139196264
308346319299212113
627188135165151
16722120317210756
Extendedcredit
147
12
3148186
2,604
499
45274437
1,873
5,0087,0436,4595,0573,8372,604
1,050803
1,059868534665
507570656629530499
1 Aggregate reserves incorporate adjustments for discontinuities associated with the implementation of the Monetary Control Act andother regulatory changes to reserve requirements. For details on aggregate reserves series see Federal Reserve Bulletin.
Source: Board of Governors of the Federal Reserve System.
330
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-67.—Commercial bank loans and securities, 1972-85
[Monthly average, billions of dollars, seasonally adjusted *]
Year and monthTotal loans
andsecurities
Loans and leases
TotalCommercial
andindustrial
U.S.Governmentsecurities
Othersecurities
1972: Dec 572.01973: Dec 647.81974: Dec 713.71975: Dec 745.11976: Dec 804.61977: Dec 891.41978: Dec 1,013.81979: Dec 1,135.4
1980: Dec 1,239.71981: Dec 1,307.41982: Dec 1,400.51983: Dec 1,553.01984: Dec 1,716.81985: Dec " 1,895.5
1984: Jan 1,565.0Feb 1,584.2Mar 1,599.8Apr 1,613.2May 1,630.1June 1,637.0
July 1,653.2Aug 1,662.9Sept 2 1,675.8Oct 1,684.1Nov 1,702.8Dec 1,716.8
1985: Jan 1,726.3Feb 1,744.8Mar 1,761.6Apr 1,768.8May 1,788.5June 1,802.7
July 1,819.0Aug 1,828.8Sept 1,841.3Oct 1,844.4Nov 1,869.6Dec* 1,895.5
390.0460.1519.8517.1554.8632.2746.9849.1
914.5967.4
1,032.81,122.71,316.51,450.3
1,160.91,181.31,196.51,213.51,232.31,243.6
1,257.21,264.9
21,275.71,285.51,302.11,316.5
1,323.41,337.71,355.61,367.11,380.01,391.0
1,402.11,409.21,416.91,419.71,433.91,450.3
137.1165.0196.6189.3190.9211.0246.1291.1
326.9355.1391.5412.8469.0493.9
414.1421.8432.2438.5448.1452.3
455.1458.2
2 460.2463.2467.6469.0
469.2474.2481.2481.9484.3484.3
484.1485.7487.2487.0490.6493.9
88.688.286.3
116.7136.3136.6137.6144.4
170.9179.6202.7260.8260.3270.7
260.4260.7261.0257.6257.4253.7
256.4257.2258.1257.1259.5260.3
260.3266.0267.1261.4266.3267.1
271.6271.4273.1270.0275.0270.7
93.499.4
107.5111.2113.5122.7129.2141.9
154.4160.4165.0169.6140.0174.5
143.7142.2142.3142.1140.5139.7
139.5140.8141.9141.5141.2140.0
142.6141.1138.9140.2142.2144.5
145.4148.2151.3154.8160.7174.5
1 Data are prorated averages of Wednesday figures for domestically chartered banks and averages of current and previous month-enddata for foreign-related institutions. Lease financing receivables are included in total loans and investments and in total loans.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.
331
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-68.—Bond yields and interest rates, 1929-85
[Percent per annum]
Year and
192919331939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
198019811982198319841985
1980:JanFebMar
iviay"::::June... .
JulyAugSept....OctNovDec
U.S. Treasury securities
Bills(new issues) J
3-month
0.515.023
.014
.103
.326
.373
.375
.375
.375594
1.0401 102
12181.55217661.931
9531.7532.6583.2671.8393.405
2.9282.3782.7783.1573.5493.9544.8814.3215.3396.677
6.4584.3484.0717.0417.8865.8384.9895.2657.221
10.041
11.50614.02910.686
8.639.587.48
12.03612.81415.52614.0039.1506.995
8.1269.259
10.32111.58013.88815.661
6-month
1832"
3.2472.6052.9083.2533.6864.0555.0824.6305.4706.853
6.5624.5114.4667.1787.9266.1225.2665.5107.572
10.017
11.37413.77611.084
8.759.807.66
11.85112.72115.10013.618
9.1497.218
8.1019.443
10.54611.56613.61214.770
Consmatur
3-year
2.471.632.473.193.982.844.46
3.983.543.473.674.034.225.235.035.687.02
7.295.655.726.957.827.496.776.698.299.71
11.5514.4412.9210.4511.899.64
10.8812.8414.0512.02
9.448.91
9.2710.6311.5712.0113.3113.65
tant
10-year
2.852.402.823.183.653.324.33
4.123.883.954.004.194.284.925.075.656.67
7.356.166.216.847.567.997.617.428.419.44
11.4613.9113.0011.1012.4410.62
10.8012.4112.7511.4710.18
9.78
10.2511.1011.5111.7512.6812.84
Corporatebonds
(Moody's)
Aaa 3
4.734.493.01
2.842.772.832.732722.622.532.612.822.66
2.622.862.963.202.903.063.363.893.794.38
4.414.354.334.264.404.495.135.516.187.03
8.047.397.217.448.578.838.438.028.739.63
11.9414.1713.7912.0412.7111.37
11.0912.3812.9612.0410.9910.58
11.0711.6412.0212.3112.9713.21
Baa
5.907.764.96
4.754.334.283.913.613.293.053.243.473.42
3.243.413.523.743.513.533.884.714.735.05
5.195.085.024.864.834.875.676.236.947.81
9.118.568.168.249.50
10.619.758.979.49
10.69
13.6716.0416.1113.5514.1912.72
12.4213.5714.4514.1913.1712.71
12.6513.1513.7014.2314.6415.14
High-grade
munici-pal
bonds(Stand-ard &
Poor's)
4.274.712.76
2.502.102.362.061.861.671.642.012.402.21
1.982.002.192.722.372.532.933.603.563.95
3.733.463.183.233.223.273.823.984.515.81
6.515.705.275.186.096.896.495.565.906.39
8.5111.2311.579.47
10.159.18
7.218.049.098.407.377.60
8.088.628.959.119.55
10.09
homemortgage
yields(FHLBB) 4
5.895.825.816.256.466.977.80
8.457.747.607.968.929.009.009.029.56
10.78
12.6614.7015.1412.5712.38
11.8711.9312.6213.0313:6812.66
12.4812.2512.3512.6113.0413.28
Com-mercialpaper, 6months5
5.851.73.59
.56
.53
.66
.69
.73
.75
.811.031.441.49
1.452.162.332.521.582.183.313.812.463.97
3.852.973.263.553.974.385.555.105.907.83
7.715.114.738.159.846.325.345.617.99
10.91
12.2914.7611.89
8.8910.168.01
12.6613.6016.5014.939.298.03
8.299.61
11.0412.3214.7316.49
Prime ratecharged by
banks6
5.50-6.001.50-4.00
1.50
1.501.501.501.501.501.501.50
1.50-1.751.75-2.00
2.00
2.072.563.003.173.053.163.774.203.834.48
4.824.504.504.504.504.545.635.616.307.96
7.915.725.258.03
10.817.866.846.839.06
12.67
15.2718.8714.8610.7912.049.93
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 York6
5.162.561.00
1.001.00
8 1.008 1.008 1.008 1.008 1.00
1.001.341.50
1.591.751.751.991.601.892.773.122.153.36
3.533.003.003.233.554.044.504.195.165.87
5.954.884.506.447.836.255.505.467.46
10.28
11.7713.4211.02
8.508.807.69
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
L782.733.111.573.30
3.221.962.683.183.504.075.114.225.668.20
7.184.664.438.73
10.505.825.045.547.93
11.19
13.3616.3812.26
9.0910.238.10
13.8214.1317.1917.6110.98
9.47
9.039.61
10.8712.8115.8518.90
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.
See next page for continuation of table.
332
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-68.—Bond yields and interest rates, 1929-85—Continued
[Percent per annum]
Yearand
month
1981'JanFebMar....AprMay....June.. .JulyAug....Sept ...OctNovDec
1982:JanFebMar.. . .AprMay....June...JulyAug....Sept ...OctNovDec
1983:JanFebMar.. . .AprMay....June. . .JulyAug ....Sept ...OctNovDec
1984:JanFebMar.. . .AprMay....June. . .JulyAug.. . .Sept ...OctNovDec
1985:JanFeb....Mar... .Apr....May.. .June. .July....Aug. . .Sept..Oct....Nov....Dec....
U.S. Treasury securities
Bills(new issues) J
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
7.8108.1308.3048.2528.198.829.129.399.058.718.718.96
8.939.039.449.699.909.94
10.1310.4910.41
9.978.798.16
7.768.228.578.007.567.017.057.187.087.177.207.07
6-month
13.88314.13412.98313.43415.33413.94714.40215.54815.05714.01311.53011.471
12.93013.70912.62112.86112.22012.31012.23610.1059.5398.2998.3198.225
7.8988.2338.3258.3438.208.899.299.539.198.908.899.14
9.069.139.589.83
10.3110.5510.5810.6510.5110.05
8.998.36
8.038.348.928.317.757.167.167.357.277.327.267.09
Constantmaturities2
3-year
13.0113.6513.5114.0915.0814.2915.1516.0016.2215.5013.1113.66
14.6414.7314.1314.1813.7714.4814.0012.6212.0310.62
9.989.88
9.649.919.849.769.66
10.3210.9011.3011.0710.8710.9611.13
10.9311.0511.5911.9812.7513.1813.0812.5012.3411.8510.9010.56
10.4310.5511.0510.49
9.759.059.189.319.379.258.888.40
10-year
12.5713.1913.1213.6814.1013.4714.2814.9415.3215.1513.3913.72
14.5914.4313.8613.8713.6214.3013.9513.0612.3410.9110.5510.54
10.4610.7210.5110.4010.3810.8511.3811.8511.6511.5411.6911.83
11.6711.8412.3212.6313.4113.5613.3612.7212.5212.1611.5711.50
11.3811.5111.8611.4310.8510.1610.3110.3310.3710.24
9.789.26
Corporatebonds
(Moody's)
Aaa 3
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
11.7912.0111.7311.5111.4611.7412.1512.5112.3712.2512.4112.57
12.2012.0812.5712.8113.2813.5513.4412.8712.6612.6312.2912.13
12.0812.1312.5612.2311.7210.9410.9711.0511.0711.0210.5510.16
Baa
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
13.9413.9513.6113.2913.0913.3713.3913.6413.5513.4613.6113.75
13.6513.5913.9914.3114.7415.0515.1514.6314.3513.9413.4813.40
13.2613.2313.6913.5113.1512.4012.4312.5012.4812.3611.9911.58
High-grade
munici-pal
bonds(Stand-ard &
Poor's)
9.6510.0310.1210.5510.7310.5611.0312.1312.8612.6711.7112.77
13.1612.8112.7212.4511.9912.4212.1111.1210.61
9.599.979.91
9.459.489.168.969.039.519.469.729.579.649.799.90
9.619.639.929.98
10.5510.7110.5010.0310.1710.3410.2710.04
9.559.669.799.489.088.788.909.189.379.248.648.51
New-home
mortgageyields
(FHLBB) 4
13.2613.5414.0214.1514.1014.6714.7215.2715.2915.6516.3815.87
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
12.2712.2111.9212.0512.0111.7511.3411.2411.1711.0911.0110.87
Com-mercialpaper, 6months5
15.1014.8713.5914.1716.6615.2216.0916.6215.9314.7211.9612.14
13.3514.2713.4713.6413.0213.7913.0010.8010.86
9.218.728.50
8.158.398.488.488.319.039.369.689.288.989.099.50
9.189.319.86
10.2210.8711.2311.3411.1610.9410.16
9.068.55
8.158.699.238.477.887.387.577.747.867.797.697.62
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
10.75-10.5010.50-10.5010.50-10.5010.50-10.5010.50-10.0010.00-9.509.50-9.509.50-9.509.50-9.509.50-9.509.50-9.509.50-9.50
Discountrate,
FederalReserveBank of
New York 6
High-low
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
12.00-12.0012.00-12.0012.00-12.0012.00-12.0012.00-12.0012.00-12.0012.00-11.5011.50-10.0010.00-10.0010.00-9.509.50-9.009.00-8.50
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
8.00-8.008.00-8.008.00-8.008.00-8.008.00-7.507.50-7.507.50-7.507.50-7.507.50-7.507.50-7.507.50-7.507.50-7.50
Federalfundsrate7
19.0815.9314.7015.7218.5219.1019.0417.8215.8715.0813.3112.37
13.2214.7814.6814.9414.4514.1512.5910.1210.31
9.719.208.95
8.688.518.778.808.638.989.379.569.459.489.349.47
9.569.599.91
10.2910.3211.0611.2311.6411.30
9.999.438.38
8.358.508.588.277.977.537.887.907.927.998.058.27
5 Bank-discount basis; prior to November 1979, data are for 4-6 months paper.6 For monthly data, high and low for the period. Prime rate for 1929-33 and 1947-48 are ranges of the rate in effect during 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.
333
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-69.—Total funds raised in credit markets by nonfinancial sectors, 1976-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Item
Total net borrowing by domestic nonfinancial sectors
U.S. Government
Treasury issuesAgency issues and mortgages
Private domestic nonfinancial sectors
Debt capital instruments
Tax-exempt obligationsCorporate bondsMortgages
Home mortgagesMulti-family residentialCommercialFarm
Other debt instruments
Consumer creditBank loans n e eOpen-market paperOther
By borrowing sector-. Total
State and local governmentsHouseholdsNonfinancial business
FarmNonfarm noncorporateCorporate
Foreign net borrowing in United States
BondsBank loans n e eOpen-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 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
1976 1977 1978 1979 1980 1981 1982 1983 1984
Net credit market borrowing by nonfinancial sectors
243.5
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
319.4
56.8
57.6-.9
262.6
171.1
21.922.9
126.3
94.07.1
18.17.1
91.6
40.227.1
2.921.3
262.6
12.0140.7110.0
12.328.069.7
13.5
5.13.12.43.0
332.9
371.7
53.7
55.1-1.4
318.0
201.6
28.421.1
152.1
113.69.4
21.97.2
116.5
48.837.45.2
25.1
318.0
16.5173.4128.1
14.632.880.6
33.8
4.219.16.63.9
405.5
388.7
37.4
38.8-1.4
351.3
213.9
30.317.3
166.2
121.78.3
24.411.8
137.5
45.451.211.129.7
351.3
17.6181.0152.7
21.435.396.0
20.2
3.92.3
11.22.9
408.9
340.0
79.2
79.8-.6
260.8
186.3
30.326.7
129.4
93.87.1
19.29.3
74.5
4.737.0
5.727.1
260.8
17.2117.9125.7
14.331.080.4
27.2
.811.510.14.7
367.2
371.6
87.4
87.8-.5
284.2
153.7
23.421.8
108.5
71.64.8
22.29.9
130.5
22.754.719.233.9
284.2
6.8119.2158.3
16.438.4
103.4
27.2
5.43.7
13.94.2
398.8
398.3
161.3
162.1-.9
237.0
153.5
48.618.786.2
50.45.3
25.25.3
83.6
20.154.1
-4.714.0
237.0
25.990.4
120.7
7.940.971.9
15.7
6.7-6.2
10.74.5
414.0
538.9
186.6
186.7-.1
352.3
249.1
57.316.0
175.7
115.69.4
47.63.0
103.3
59.826.7
-1.618.3
352.3
37.6190.4124.3
4.565.254.6
18.9
3.84.96.04.3
557.8
755.6
198.8
199.0-.2
556.8
322.1
65.842.3
214.1
139.214.058.82.1
234.8
96.579.423.735.2
556.8
45.0249.5262.4
2.977.8
181.7
1.7
4.1-7.8
1.44.0
757.4
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
371.7
218.4
153.9
25.4112.1
6.97.52.0
64.4
39.8
6.533.3
-6.56.8
74.838.6
388.7
246.5
146.8
26.278.134.46.61.5
99.7
23.1
27.6-4.5
11.6.4
72.934.2
340.0
227.6
181.1
15.5128.7
29.26.51.1
46.5
1.6
-21.723.3
1.8-2.683.727.9
371.6
294.7
221.9
27.583.9
107.52.5
.5
72.9
7.6
-8.716.2
6.9-1.190.7
-27.2
398.3
270.1
181.6
25.1130.5
24.73.8
-2.5
88.5
-3.9
-26.722.8
10.76.1
103.212.1
538.9
367.2
224.4
37.4212.0
-44.114.34.8
142.8
49.2
22.127.1
3.7-5.395.128.9
755.6
484.5
292.2
30.0225.0
47.2-5.8-4.0
192.2
62.4
19.043.4
22.34.0
111.770.8
See next page for continuation of table.
334
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-69.—Total funds raised in credit markets by nonfinancial sectors, 1976-85—Continued
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Item
Total net borrowing by domestic nonfinancial sectors
U.S. Government
Treasury issuesAgency issues and mortgages
Private domestic nonfinancial sectors
Debt capital instruments
Tax-exempt obligationsCorporate bondsMortgages
Home mortgagesMulti-family residentialCommercialFarm
Other debt instruments
Consumer creditBank loans n.e.cOpen-market paperOther
By borrowing sector: Total
State and local governmentsHouseholdsNonfinancial business
FarmNonfarm noncorporateCorporate
Foreign net borrowing in United States
BondsBank loans n e eOpen-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 depositsMoney 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
1984
1 II III IV
1985
1 1! III
Net credit market borrowing by nonfinancial sectors
661.0
173.5
173.83
487.5
258.4
42.119.8
196.4
136.812.345.8
1.7
229.1
78.893.526.730.1
487.5
23.9215.5248.1
3.874.6
169.7
-6.5
-1.1-2.8-9.1
6.5
654.5
747.0
171.9
172.11
575.1
305.2
35.728.9
240.6
152.919.765.52.4
269.9
125.486.840.317.3
575.1
18.8280.9275.3
.491.4
183.5
52.3
3.3-6.450.94.5
799.3
704.7
194.9
195.11
509.8
333.2
72.349.4
211.5
131.89.5
67.42.8
176.6
90.235.322.628.5
509.8
52.9232.1224.8
6.575.0
143.4
-38.5
2.4-14.2
3033.7
666.2
909.9
254.9
255.01
655.0
391.5
113.070.9
207.7
135.214.556.6
1.4
263.5
91.5102.0
5.064.9
655.0
84.3269.3301.4
1.170.1
230.3
-.4
11.7-7.8
591.5
909.4
675.5
144.1
144.22
531.4
323.0
73.953.7
195.5
130.619.345.7-.1
208.4
121.317.024.046.2
531.4
61.1263.5206.8
-11.073.9
144.0
-8.0
2.3-12.2
-.12.0
667.5
760.4
218.1
218.21
542.4
376.3
103.269.2
203.9
142.811.053.8
-3.6
166.0
112.133.98.6
11.5
542.4
82.2272.6187.6
3368.9
122.1
-6.1
8.0.3
-17.53.1
754.3
742.2
166.4
166.4_ }
575.8
404.1
145.856.9
201.5
149.113.048.5
-9.1
171.7
115.235.0
1.520.0
575.8
116.8295.3163.7
-8.173.398.5
5.8
5.5-6.7
5.51.5
748.0
Direct and indirect supply of funds to credit markets
661.0
404.9
291.4
51.0200.344.9
14-3.5
113.5
46.9
29.117.8
25.85.1
109.069.2
747.0
521.7
285.6
30.7236.9
15.48.1
-5.4
236.1
67.2
25.341.9
-24.1-1.8126.957.1
704.7
447.9
221.7
-19.8241.2
20.5-15.8
-4.4
226.2
48.7
16.132.6
15.616.393.982.3
909.9
563.3
370.2
57.9221.4107.9
-14.2-2.8
193.1
86.8
5.781.2
71.7-3.5117.074.5
675.5
435.8
182.5
-11.8196.4
-12.110.8-.9
253.4
44.0
28.915.2
67.8-12.1
68.571.4
760.4
360.7
193.6
63.7130.520.4
-13.3-7.8
167.1
75.3
-7.382.6
49.750.9
166.257.7
742.2
425.1
204.3
116.4115.4
-21.2-3.5-2.8
220.9
130.2
40.589.7
20.7-71.7137.4100.5
Source: Board of Governors of the Federal Reserve System.
335
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-70.—Mortgage debt outstanding by type of property and of financing, 1939-85
[Billions of dollars]
End of yearor quarter
1939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
I9601961196219631964
19651966196719681969
19701971197219731974
1975197619771978 .1979
19801981198219831984
1983- 1||I I IIV
1984- 1I II l lIV
1985- 1II ..I l l
Allproper-
ties
35.5
36.537.636.735.334.7
35.541.848.956.262.7
72.882.391.4
101.3113.7
129.9144.5156.5171.8190.8
207.5228.0251.4278.5305.9
333.3356.5381.2410.9441.4
473.5524.0597.1672.3732.3
791.7878.5
1,009.81,161.91,327.3
1,457.51,564.01,631.31,811.42,022.5
1,659.71,703.91,759.01,811.4
1,855.91,917.21,972.82,022.5
2,068.32,126.92,183.9
Farmproper-
ties
6.6
6.56.46.05.44.9
4.84.95.15.35.6
6.16.77.27.78.2
9.09.8
10.411.112.1
12.813.915.216.818.9
21.223.125.127.429.2
30.332.235.139.544.7
49.755.363.571.685.6
95.8105.8110.0112.6111.6
110.3111.3112.1112.6
112.4112.6112.7111.6
111.5110.8109.0
Nonfarm properties
Total
28.9
30.031.230.829.929.7
30.836.943.950.957.1
66.775.684.293.6
105.4
120.9134.6146.1160.7178.7
194.7214.1236.2261.7287.0
312.1333.4356.1383.5412.2
443.2491.8562.0632.8687.5
742.0823.2946.4
1,090.21,241.7
1,361.81,458.21,521.21,698.81,910.9
1,549.41,592.61,646.81,698.8
1,743.61,804.61,860.11,910.9
1,956.82,016.12,074.9
1- to 4-familyhouses
16.3
17.418.418.217.817.9
18.623.028.233.337.6
45.251.758.566.175.7
88.299.0
107.6117.7130.9
141.9154.6169.3186.4203.4
220.5232.9247.3264.8283.2
297.4325.9366.5407.9440.7
482.1546.3642.7753.5870.5
963.91,038.51,074.71,192.81,329.6
1,093.21,120.91,158.21,192.8
1,223.41,261.81,296.51,329.6
1,360.31,402.01,443.7
Multi-familyproper-
ties
5.6
5.75.95.85.85.6
5.76.16.67.58.6
10.111.512.312.913.5
14.314.915.316.818.7
20.323.025.829.033.6
37.240.343.947.352.2
60.170.182.893.1
100.0
100.6105.7114.0124.9134.9
142.3142.1145.8156.7170.5
146.6149.8153.5156.7
160.3165.4167.9170.5
175.5178.5181.5
Com-mercialproper-ties1
7.0
6.97.06.76.36.2
6.47.79.1
10.210.8
11.512.513.414.516.3
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
159.3171.2189.7211.8236.3
255.5277.5300.8349.2410.7
309.6322.0335.1349.2
359.9377.5395.7410.7
421.0435.7449.8
Nonfarm properties by type of mortgage
Government underwritten
Total2
1.8
2.33.03.74.14.2
4.36.39.8
13.617.1
22.126.629.332.136.2
42.947.851.655.259.3
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
225.1238.9248.9279.8294.8
252.5261.1273.7279.8
286.8290.5292.9294.8
299.7305.4323.8
1- to 4-family houses
Total
1.8
2.33.03.74.14.2
4.36.19.3
12.515.0
18.822.925.428.132.1
38.943.947.250.153.8
56.459.162.265.969.2
73.176.179.984.490.2
97.3105.2113.0116.2121.3
127.7133.5141.6153.4172.9
195.2207.6217.9248.8265.9
222.1230.0241.7248.8
255.9260.5263.6265.9
270.6276.0282.6
FHAinsured
1.8
2.33.03.74.14.2
4.13.73.85.36.9
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
66.166.568.071.481.0
93.6101.3108.0127.4136.7
110.8115.8123.8127.4
131.1133.6135.6136.7
139.8144.3148.3
VAguar-
anteed
0.22.45.57.28.1
10.313.214.616.119.3
24.628.430.730.430.0
29.729.629.930.930.9
31.131.332.533.835.7
37.339.544.750.056.2
61.667.073.682.092.0
101.6106.2109.9121.4129.1
111.3114.3117.9121.4
124.8126.9128.0129.1
130.8131.6134.3
Conventional 3
Total
27.1
27.728.227.125.825.5
26.530.634.137.340.0
44.749.154.961.569.3
78.086.894.6
105.5119.4
132.3148.5166.9188.2209.8
231.0249.3267.9290.1312.0
333.9371.1430.9497.7547.3
595.0669.0784.6913.9
1,042.7
1,136.71,219.31,272.41,419.01,616.0
1,296.91,331.51,373.21,419.0
1,456.81,514.21,567.31,616.0
1,657.11,71071,751.1
1- to 4-familyhouses
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
200.2220.7253.5291.7319.4
354.3412.8501.0600.2697.6
768.8830.9856.8944.0
1,063.7
871.1890.8916.5944.0
967.51,001.31,032.91,063.7
1,089.71,126.01,161.0
.1 Includes negligible amount of farm loans held by savings and loan associations.2 Includes FHA insured multifamily properties, not shown separately.3 Derived figures. Total includes multifamily and commercial properties, not shown separately.
Source: Board of Governors of the Federal Reserve System, based on data from various Government and private organizations.
336
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-71.—Mortgage debt outstanding by holder, 1939-85
[Billions of dollars]
End of yearor quarter
1939
19401941194219431944
1945194619471948 ...1949
19501951195219531954
195519561957 . ...19581959
I9601961196219631964
19651966196719681969
197019711972 ..19731974
19751976197719781979
19801981 . .198219831984
1983: 1||I I IIV
1984: 1||I I IIV
1985: 1||I I I
Total
35.5
36.537.636.735.334.7
35.541.848.956.262.7
72.882.391.4
101.3113.7
129.9144.5156.5171.8190.8
207.5228.0251.4278.5305.9
333.3356.5381.2410.9441.4
473.5524.0597.1672.3732.3
791.7878.5
1,009.81,161.91,327.3
1,457.51,564.01,631.31,811.42.022.5
1,659.71,703.91,759.01,811.4
1,855.91,917.21,972.82,022.5
2,068.32,126.92,183.9
Major financial institutions
Total
18.6
19.520.720.720.220.2
21.026.031.837.842.9
51.759.566.975.185.7
99.3111.2119.7131.5145.5
157.6172.6192.5217.1241.0
264.6280.8298.8319.9339.1
355.9394.2450.0505.4542.6
581.2647.5745.2848.2938.2
996.81,040.51,021.31,108.21,241.2
1,026.31,045.71,077.51,108.2
1,133.61,177.31,214.71,241.2
1,261.91,292.41,321.2
Savingsand loanassocia-
tions
3.8
4.14.64.64.64.8
5.47.18.9
10.311.6
13.715.618.422.026.1
31.435.740.045.653.1
60.168.878.890.9
101.3
110.3114.4121.8130.8140.2
150.3174.3206.2231.7249.3
278.6323.0381.2432.8475.7
503.2518.5483.6494.8555.3
477.4475.2483.3494.8
503.5528.2550.1555.3
559.3569.3575.6
Savingsbanks
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
99.9100.094.5
131.9154.4
101.6114.7125.5 .131.9
139.1143.4146.1154.4
161.0165.7173.5
Commer-cial
banks1
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
262.7284.2301.3330.5374.8
303.9311.1321.2330.5
339.7352.3363.2374.8
383.4396.0408.2
Lifeinsur-ancecom-
panies
5.7
6.06.46.76.76.7
6.67.28.7
10.812.9
16.119.321.323.326.0
29.433.035.237.139.2
41.844.246.950.555.2
60.064.667.570.072.0
74.475.576.981.486.2
89.291.696.8
106.2118.4
131.1137.7142.0151.0156.7
143.3144.7147.4151.0
151.3153.5155.4156.7
158.2161.5163.9
Other holders
Federaland
relatedagen-cies2
5.0
4.94.74.33.63.0
2.42.01.81.82.3
2.83.54.14.64.8
5.36.27.78.0
10.2
11.512.212.611.812.2
13.517.520.925.131.1
38.346.454.664.882.2
101.1116.7140.5170.6216.0
256.8289.4355.4433.4491.1
375.3395.5415.7433.4
448.4458.9472.3491.1
511.3531.7555.2
Individ-uals andothers
11.9
12.012.211.711.511.5
12.113.815.316.617.5
18.419.320.421.723.2
25.327.129.132.335.1
38.443.146.349.552.7
55.258.261.465.971.2
79.383.492.5
102.2107.5
109.4114.3124.1143.1173.1
203.9234.1254.5269.7290.3
258.1262.6265.8269.7
274.0280.9285.7290.3
295.1302.8307.5
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 (FmHA), and inearlier years Reconstruction Finance Corporation, Homeowners Loan Corporation, and Federal Farm Mortgage Corporation. Also includesU.S.-sponsored agencies such as new FNMA, Federal Land Banks, Federal Home Loan Mortgage Corporation (FHLMC), and mortgagepass-through securities issued or guaranteed by GNMA, FHLMC, FNMA or FmHA. Other U.S. agencies (amounts small or current separatedata not readily available) included with "individuals and others."
Source: Board of Governors of the Federal Reserve System, based on data from various Government and private organizations.
337Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-72.—Consumer credit outstanding, /930-85
[Amount outstanding (end of month); millions of dollars, seasonally adjusted]
Year and month
December:1950 . .. .195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
19801981198219831984
1984- JanFebMarAprMay .June
JulyAugSeptOctNov....Dec
1985- JanFebMarAprMay .June
JulyAug .SeptOctNov
Totalconsumercredit
25,01826,57631,83035,92837,29344,31948,22451,13651,59559,432
63,92866,56972,83081,57891,279101,726108,227113,628124,915135,431
141,010155,537175,286200,894210,634219,772244,932284,599332,849377,486
369,842392,287412,811471,551566,919
477,437485,001491,615500,241511,891521,172
529,505537,591543,148550,624557,867566,919
575,873586,842597,235607,308618,555625,254
633,980641,634654,377662,417667,870
Installment credit '
Total
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
296,290312,907328,275376,006452,372
381,273387,461393,389400,182409,275416,357
422,838428,860433,842439,473445,553452,372
459,595468,636476,978485,248494,290499,517
505,764511,490523,021531,146536,029
Automobile
6,0355,9817,6519,7029,75513,48514,49915,49314,26716,641
18,10817,65620,00122,89125,86529,37831,02431,13634,35236,946
36,34840,52247,83553,74054,24157,27967,79882,890101,863116,523
112,134119,796124,938142,497172,461
145,451147,885148,933151,273154,914157,639
160,726163,208164,721167,225169,774172,461
175,348178,546181,937185,425189,217191,903
194,268196,474203,678207,332208,417
Revolving 2
2,0223,563
4,9008,2529,39111,31813,23214,46716,50536,42745,00453,174
54,90060,30965,01976,45394,940
76,99878,06981,02982,88085,51886,874
87,64688,90990,39391,88193,49594,940
96,89799,424102,055104,181106,610106,537
107,393108,329110,303112,345115,201
Mobile home 3
2,4337,1719,46813,50514,58214,38214,53014,89715,19916,843
18,78319,89022,49123,77324,552
23,79923,74523,76823,91124,04924,240
24,57424,79124,91824,52624,43524,552
24,39324,67524,66424,88225,06825,264
25,58825,78725,95526,13326,129
Other
9,1319,87812,47014,16814,71516,32418,16119,42120,46923,780
26,22727,78230,37434,16538,80943,43647,13850,64753,73858,872
60,22460,48964,56474,34780,14883,25991,89292,432107,326120,575
110,473112,912115,827133,283160,419
135,025137,762139,660142,118144,794147,604
149,892151,952153,810155,841157,849160,419
162,957165,991168,322170,760173,395175,813
178,515180,900183,085185,336186,282
Noninstallmentcredit 4
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
73,55279,38084,53695,545114,547
96,16497,54098,226100,059102,616104,815
106,667108,731109,306111,151112,314114,547
116,278118,206120,257122,060124,265125,737
128,216130,144131,356131,271131,841
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.
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 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.
338Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
GOVERNMENT FINANCETABLE B-73.—Federal receipts, outlays, surplus or deficit, and debt, selected fiscal years 1929-87
[Billions of dollars; fiscal years]
Fiscal yearor period
192919331939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
196519661967 ....19681969
19701971197219731974
19751976Transition
quarter ...197719781979
19801981198Z19831984
19851986 2
1987 2
Total
Re-ceipts
3.9206.3
6.587
14.624043.7
45.239338.541.639.4
39.451.666.269.669.7
65.574.680.079.679.2
92.594.499.7
106.6112.6
116.8130.8148.8153.0186.9
192.81871207.3230.8263.2
279.1298.1
81.2355.6399.6463.3
517.1599.3617.8600.6666.5
734.1777.1850.4
Outlays
3.1469.1
9.513735.178691.3
92.755234.529.838.8
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
195.62102230.7245.7269.4
332.3371.8
96.0409.2458.7503.5
590.9678.2745.7808.3851.8
946.3979.9994.0
Surplusor
deficit(-)
0.7-26-2.8
-2.9-49
-20.5-546-47.6
-47.6-159
4.011.8
.6
-3.16.1
-1.5-6.5-1.2
-3.03.93.4
-2.8-12.8
.3-3.3-7.1-4.8-5.9
-1.4-3.7-8.6
-25.23.2
-2.8-230-23.4-14.9-6.1
-53.2-73.7
-14.7-53.6-59.2-40.2
-73.8-78.9
-127.9-207.8-185.3
-212.3-202.8-143.6
On-budget
Re-ceipts
5.8
6.080
13.722942.5
43.838137.139.937.7
37.348.562.665.565.1
60.468.273.271.671.0
81.982.387.492.496.2
100.1111.7124.4128.1157.9
159.31513167.4184.7209.3
216.6231.7
63.2278.7314.2365.3
403.9469.1474.3453.2500.4
547.9579.2636.1
Outlays
9.2
9.513635.178591.2
92.655034.229.438.4
42.044.266.073.867.9
64.565.770.674.983.1
81.386.093.396.4
102.8
101.7114.8137.0155.8158.4
168.01773193.8200.1217.3
271.9302.2
76.6328.5369.1403.5
476.6543.0594.3661.2686.0
769.5795.2795.4
Surplusor
deficit(-)
-3.4
-3.5-56
-21.3-556-48.7
-48.7-170
2.910.5-.7
-4.74.3
-3.4-8.3-2.8
-4.12.52.6
-3.3-12.1
.5-3.8-5.9-4.0-6.5
-1.6-3.1
-12.6-27.7
-.5
-8.7-261-26.4-15.4-8.0
-55.3-70.5
-13.3-49.7-54.9-38.2
-72.7-73.9
-120.0-208.0-185.6
-221.6-216.0-159.3
Off-budget
Re-ceipts
0.5
.67
.91 11.3
1.3121.51.61.7
2.13.13.64.14.6
5.16.46.88.08.3
10.612.112.314.216.4
16.719.124.424.929.0
33.535.839.946.153.9
62.566.4
18.076.885.498.0
113.2130.2143.5147.3166.1
186.2197.9214.3
Outlays
0.0
.00.11
.1
.1
.2
.3
.4
.4
.51.31.72.32.9
4.05.06.07.59.0
10.911.713.515.015.7
16.519.720.422.325.2
27.632.836.945.652.1
60.469.6
19.480.789.7
100.0
114.3135.2151.4147.1165.8
176.8184.7198.6
Surplusor
deficit(-)
0.5
.67.8
101.2
1.2101.21.21.3
1.61.81.91.81.7
1.11.5.8.5
-.7
-.2.4
-1.3-.8
.6
.2-.64.02.63.7
5.93.03.1
.51.8
2.0-3.2
-1.4-3.9-4.3-2.0
-1.1-5.0-7.9
.2
.3
9.413.215.7
Gross Federal debt(end of period)
Total
1 16.91 225
48.2
50.757579.2
1426204.1
260.12710257.1252.0252.6
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
544.1631.9
646.4709.1780.4833.8
914.31,003.91,147.01,381.91,576.7
1,827.52,112.02,320.6
Held bythe
public
41.4
42.848267.8
1278184.8
235.22419224.3216.3214.3
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
396.9480.3
498.3551.8610.9644.6
715.1794.4929.4
1,141.81,312.6
1,509.91,714.01,855.7
Adden-dum:Gross
nationalproduct
95.81130142.21758202.0
212.42129225.0248.5264.1
266.9314.7342.7365.1369.4
387.6418.0441.2449.8479.5
507.7519.0556.6588.6629.4
673.6740.5793.5852.4929.5
990.51,057.11,151.21,285.51,417.0
1,523.51,699.6
448.71,935.82,173.42,452.2
2,667.62,986.23,141.53,320.93,695.3
3,936.84,192.24,538.1
1 Not strictly comparable with later data.2 Estimates.
N0te.—Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscalyear is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscalperiod known as the transition quarter.
Refunds of receipts are excluded from receipts and outlays.See "Budget of the United States Government, FY 1987" for additional information.
Sources: Department of the Treasury, Office of Management and Budget, and Department of Commerce (Bureau of EconomicAnalysis).
339Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-74.—Federal receipts, outlays, and debt, fiscal years 1978-87
[Mil l ions of dollars; f iscal years]
RECEIPTS AND OUTLAYS:
Total receiptsTotal outlays
Total surplus or deficit ( — )
On-budget receiptsOn-budget outlays
On-budget surplus or deficit ( )
Off-budget receipts...Off-budget outlays
Off-budget surplus or deficit ( — )
OUTSTANDING DEBT, END OF PERIOD:
Gross Federal debt
Held by Government agenciesHeld by the public
Federal Reserve SystemOther
RECEIPTS: ON-BUDGET AND OFF-BUDGET
Individual income taxesCorporation income taxesSocial insurance taxes and contributions
On-budgetOff-budget
Excise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts:
Deposits of earnings by Federal Reserve SystemAll other
OUTLAYS- ON-BUDGET AND OFF-BUDGET
National defenseInternationa! affairsGeneral science space and technologyEnergyNatural resources and environmentAgricultureCommerce and housing creditTransportationCommunity and regional development .Education, training, employment, and social servicesHealthMedicareIncome securitySocial security
On-budgetOff-budget
Veterans benefits and servicesAdministration of justiceGeneral governmentGeneral purpose fiscal assistanceNet interest
On-budgetOff-budget
AllowancesUndistributed offsetting receipts
On-budgetOff-budget
1978
399,561458 729
-59,168
314,169369 072
54 902
85,39189657
-4,266
780 425
169 477610,948
115,480495,468
399,561
180,98859952
120,967
3557685,391
18,37652856,573
6,641778
458 729
104,495748249267,992
10,983113576,254
15,5211184126,71018,5242276861 48893861
74193,120
18,97838103,5768,442
35,441
37,843-2403
-15,720
14660-1060
1979
463,302503 464
-40,162
365,309403 486
38 178
97,99499978
-1,984
833 751
189 162644,589
115,594528,995
463,302
217,84165677
138,939
4094597,994
18,74554117,439
8,327925
503 464
116,342745952359,180
12,135112364,686
17,5321048030,22320,4942649566359
104 073
757103,316
19,93141693,9288,369
42,615
44,839-2224
-17,476
16362-1 114
Actual
1980
517,112590 920
-73,808
403,903476 591
72 689
113,209114329
-1,120
914317
199212715,105
120,846594,259
517,112
244,06964600
157,803
44594113,209
24,32963897,174
11,767981
590 920
133,995127145832
10,15613,85888399,390
21,3291125231,84323,1693209086540
118547
675117,872
21,18545824,4488,582
52,512
54,851-2339
- 19,942
18738-1,204
1981
599,272678 209
-78,936
469,097543 013
73 9}5
130,176135 196
-5,020
1 003 941
209 507794,434
124,466669,968
599,272
285,91761 137
182,720
52545130,176
40,83967878,083
12,834956
678 209
157,51313,1046469
15,16613,568113238,206
23,37910,56833,70926,86639,14999723
139,584
670138,914
22,99147624,5826,854
68,734
71,022-2288
-28,041
26611-1,430
1982
617,766745 706
-127,940
474,299594 302
120 003
143,467151 404
-7,937
1 146 987
217 560929,427
134,497794,930
617,766
297,74449207
201,498
58,031143,467
36,3117,9918,854
15,186975
745,706
185,30912,3007,200
13,52712,99815,9446,256
20,6258,347
27,02927,44546,567
107717155,964
844155,120
23,9584,7034,5326,390
84,995
87,065-2,071
-26,099
-24453-1,646
See next page for continuation of table.
340Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-74.—Federal receipts, outlays, and debt, fiscal years 1978-87—Continued
[Millions of dollars; fiscal years]
Description
RECEIPTS AND OUTLAYS:
Total receiptsTotal outlays
Total surplus or deficit ( — )
On-budget receiptsOn-budget outlays
On-budget surplus or deficit ( — )
Off-budget receiptsOff-budget outlays
Off-budget surplus or deficit (-)
OUTSTANDING DEBT, END OF PERIOD:
Gross Federal debt
Held by Government agenciesHeld by the public
Federal Reserve SystemOther
RECEIPTS- ON-BUDGET AND OFF-BUDGET
Individual income taxesCorporation income taxesSocial insurance taxes and contributions
On-budgetOff-budget
Excise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts:
Deposits of earnings by Federal Reserve SystemAll other
OUTLAYS- ON-BUDGET AND OFF-BUDGET
National defense .International affairs.General science, space, and technology.Energy...Natural resources and environment.Agriculture.Commerce and housing credit,Transportation.Community and regional development.Education, training, employment, and social services .Health...MedicareIncome security.Social security.
On-budget..Off-budget .
Veterans benefits and services.Administration of justiceGeneral governmentGeneral purpose fiscal assistanceNet interest.
On-budget.Off-budget .
Allowances.Undistributed offsetting receipts.
On-budget.Off-budget .
Actual
1983
600,562808,327
-207,764
453,242661,219
-207,977
147,320147,108
212
1,381,886
240,1161,141,770
155,527986,243
600,562
288,93837,022
208,994
61,674147,320
35,3006,0538,655
14,4921,108
808,327
209,90311,8487,9359,353
12,67222,9016,681
21,3347,560
26,60628,64152,588
122,598170,724
19,993150,731
24,8465,0994,7896,452
89,774
91,619-1,845
-33,976
-32,198-1,778
1984
666,457851,781
-185,324
500,382685,968
-185,586
166,075165,813
262
1,576,748
264,1591,312,589
155,1221,157,467
666,457
298,41556,893
239,376
73,301166,075
37,3616,010
11,370
15,6841,347
851,781
227,41315,8768,3177,086
12,59313,6136,917
23,6697,673
27,57930,41757,540
112,668178,223
7,056171,167
25,6145,6605,0536,768
111,058
114,368-3,310
-31,957
-29,913-2,044
1985
734,057946,323
-212,266
547,886769,515
-221,629
186,170176,807
9,363
1,827,470
317,6121,509,857
169,8061,340,051
734,057
334,53161,331
265,163
78,992186,171
35,9926,422
12,079
17,0591,480
946,323
252,74816,1768,6275,685
13,35725,565
4,22925,838
7,68029,34233,54265,822
128,200188,623
5,189183,434
26,3526,2775,2286,353
129,436
133,554-4,118
-32,759
-30,250-2,509
Estimates
1986
777,139979,928
-202,789
579,201795,185
-215,984
197,938184,743
13,195
2,112,011
398,0031,714,008
777,139
353,73870,865
280,438
82,500197,938
34,6286,073
12,404
16,5322,461
979,928
265,82717,1418,8994,433
12,90525,871
3,80227,106
7,92230,67135,66968,661
118,093200,053
8,050192,004
26,6196,7886,2706,236
142,740
147,158-4,418
-35,776
-32,933-2,843
1987
850.372994,002
-143,630
636,097795,386
-159,288
214,275198,617
15,658
2,320,630
464,9421,855,688
850,372
385,98486,729
302,804
88,529214,275
35,2035,661
12,937
16,5604,494
994,002
282,23818,6199,1884,017
11,95819,541
1,35925,503
6,52527,44734,99770,234
118,374212,213
5,702206,510
26,4206,9486,0601,739
147,996
152,713-4,716
754-38,128
-34,951-3,177
Note.—Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis. Beginning October 1976 (fiscal year 1977), the fiscalyear is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscalperiod known as the transition quarter.
Refunds of receipts are excluded from receipts and outlays.
See "Budget of the United States Government, Fiscal Year 1987" for additional information.
Sources: Department of the Treasury and Office of Management and Budget.
341
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-75.—Relation of Federal Government receipts and expenditures in the national income andproduct accounts to the budget, fiscal years 1985-87
[Billions of dollars; fiscal years]
Receipts and expenditures
RECEIPTS
Total on-budget and off-budcet receipts
Government contributions for employee retirement (grossing)Other netting and grossingTiming adjustmentsGeographic exclusions
Federal sector national income and product accounts receipts
EXPENDITURES
Total on-budget and off-budget outlays
Lending and financial transactionsGovernment contributions for employee retirement (grossing)
Defense timing adjustmentBonuses on Outer Continental Shelf land leasesGeographic exclusionsOther
Federal sector, national income and product accounts, expenditures
1985
734.1
32.414.6
-6.4-1.9
0.3
773.1
946.3
-25.332.414.61.32.0
-5.3-2.8
963.2
Estimate
1986
777.1
33.913.71.3
-1.90.1
824.2
979.9
-10.533.913.73.51.9
-5.4-1.1
1,015.9
1987
850.4
36.017.43.2
-1.90.1
905.2
994.0
-6.336.017.47.01.6
-5.4-0.6
1,043.7
Note.—See Note, Table B-73.See Special Analysis B, "Special Analyses, Budget of the United States Government, Fiscal Year 1987" for description of these
categories.
Sources-. Department of Commerce (Bureau of Economic Analysis), Department of the Treasury, and Office of Management andBudget.
342
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-76.—Federal and State and local government receipts and expenditures, national income andproduct accounts, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Calendar year or quarter
19291933.1939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
198019811982198319841985 " .
1982 1III I IIV
1983: 1||I l lIV
1984: I||HIIV
1985: I||II IIV
Total government
Receipts
1139.4
15.4
17.825.032.749.251.253.452.657.859.656.6
69.485.690.595.090.4
101.6110.2116.7115.7130.3
140.4145.9157.9169.8175.6190.2214.4230.8266.2300.1
306.8327.3374.0419.6463.1480.0549.1616.6694.4779.8
855.1977.2
1,000.81,059.61,171.31,262.2
991.11,003.11,000.71,008.4
1,017.41,061.31,069.2l',090!e
1,143.61 16631,176.31,198.9
1,254.41,227.31,271.8
Expendi-tures
10310.717.6
18.528.864.193.4
103.192.947.243.451.160.0
61.479.594.3
102.097.598.5
105.0115.8128.3131.9
137.3150.1161.6169.1177.8189.6215.6245.0272.2290.2
317.4346.8377.3411.7467.4544.9587.5635.7694.8768.3
889.61,006.91,111.61,190.41,279.81,401.2
1,067.01,080.81,123.21,175.3
1,167.41,185.11 19621,212.8
1,237.41,263.61,292.31,325.7
1,353.91,379.21,416.314556
Surplus ordeficit(-),
nationalincome
andproduct
accounts
1 0-1.4-2.2
_ 7-3^8
-31.4-44.2-51.8-39.5
5.414.48.4
-3.4
8.06.1
-3.8-7.0-7.1
3.15.2
.9-12.6-1.6
3.1-4.3-3.8
.7-2.3
.5-1.3
-14.2-6.0
9.9
-10.6-19.5-3.4
7.9-4.3
-64.9-38.4-19.1
-.411.5
-34.5-29.7
-110.8-130.8-108.5-139.0
-76.0-77.7
-122.5166.8
-150.0-123.8
1270122.2
-93.897.3
116.0-126.8
-99.4151.9144.5
Federal Government
Receipts
382.76.8
8.715.523.039.341.142.740.744.143.939.4
50.464.667.770.464.273.178.582.579.390.6
96.999.0
107.2115.6116.2125.8143.5152.6176.9199.7
195.4202.7232.2263.7293.9294.9340.1384.1441.4505.0
553.8639.5635.3658.1725.1785.7
636.7641.1630.3633.1
636.3665.26597671.1
709.4721.8727.1742.1
789.7754.9790.7
Expendi-tures
2 74^09.0
10.020.556.185.995.684.737.230.835.542.0
41.258.171.477.670.368.672.580.289.691.7
93.9102.9111.4115.3119.5125.3145.3165.8182.9191.3
207.8224.8249.0269.3305.5364.2393.7430.1470.7521.1
615.1703.3781.2837.5898.0983.0
745.9754.0789.1835.7
824.2835.88394850.6
867.2884.9905.2934.7
952.4964.0992.0
1,023.4
Surplus ordeficit(-),
nationalincome
andproduct
accounts
1 2-1.3-2.2
-1.3-5.1
-33,1-46.6-54.5-42.1
3.513.48.3
-2.6
9.26.5
-3.7-7.1-6.0
4.46.12.3
-10.3-1.1
3.0-3.9-4.2
.3-3.3
.5-1.8
-13.2-6.0
8.4
-12.4-22.0-16.8-5.6
-11.6-69.4-53.5-46.0-29.3-16.1
-61.3-63.8
-145.9-179.4-172.9-197.3
-109.2-112.9-158.8
202.6
-187.9-170.6
1797-179.5
-157.8-163.0-178.1
192.7
-162.6-209.1-201.3
State and localgovernment
Receipts
767^29.6
10.010.410.610.911.111.613.015.417.719.5
21.323.425.427.429.031.735.038.542.046.6
50.054.158.663.469.875.585.294.1
107.9120.8
135.8153.6179.3196.4213.1239.6270.1300.1330.3355.3
390.0425.6449.4487.7539.8575.4
437.2446.8453.7459.8
466.9481.84966505.7
525.5537.4542.2554.1
560.5570.0581.8
Expendi-tures
78l.l9.6
9.39.18.88.48.59.0
11.114.417.620.2
22.523.925.527.330.232.935.939.844.447.0
49.954.558.262.968.875.584.795.2
107.8119.3
134.0151.0165.8182.9205.9235.2254.9273.2301.3327.7
363.2391.4414.3439.1475.4517.1
404.0411.5417.4424.1
429.0435.14439448.5
461.5471.7480.1488.3
497.2512.7524.9533.6
Surplus ordeficit(-),
nationalincome
andproduct
accounts
02-.1
.0
.61.31.82.42.72.61.91.0.1
-.7
-1.2-.4-.0
.1-1.1-1.3-.9
-1.4-2.4-.4
.1-.4
.5
.51.0
-.0.5
-1.1.1
1.5
1.82.6
13.513.57.24.5
15.226.928.927.6
26.834.135.148.664.458.3
33.235.236.335.8
37.946.852757.2
64.065.762.165.8
63.257.356.9
Note.—Federal grants-in-aid to State and local governments are reflected in Federal expenditures and State and local receipts. Totalgovernment receipts and expenditures have been adjusted to eliminate this duplication.
Source: Department of Commerce, Bureau of Economic Analysis.
343
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-77.—Federal and State and local government receipts and expenditures, national income and
product accounts, by major type, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
19291933193919401941194219431944194519461947194819491950195119521953195419551956 .195719581959196019611962. . .1963196419651966196719681969197019711972197319741975197619771978197919801981 . .1982198319841985 p
1982- 1 . . .III l lIV
1983:1||I I IIV
1984:1||II IIV
1985- 1III l lIV P.
Receipts
Total
11.39.4
15.417.825.032.749.251.253.452.657.859.656.669.485.690.595.090.4
101.6110.2116.7115.7130.3140.4145.9157.9169.8175.6190.2214.4230.8266.2300.1306.8327.3374.0419.6463.1480.0549.1616.6694.4779.8855.1977.2
1,000.81,059.61,171.31,262.2
991.11,003.11,000.71,008.41,017.41,061.31,069.21,090.61,143.61,166.31,176.31,198.91,254.41,227.31,271.81,295.2
Per-sonaltaxand
nontaxre-
ceipts
2.61.42.42.63.35.9
17.818.920.818.721.421.018.520.628.934.035.532.535.439.742.442.246.150.552.257.060.558.865.274.982.497.7
116.3116.2117.3142.0152.0171.8170.6198.7228.1261.1304.7340.5393.3409.3411.1441.8493.1407.1414.1405.0411.1407.4418.0404.4414.4423.6433.6447.5462.4501.7462.4498.2510.1
Corpo-rate
profitstax ac-cruals
1.4.5
1.42.87.6
11.414.112.910.79.1
11.312.410.217.922.619.420.317.622.022.021.419.023.622.722.824.026.228.030.933.732.739.439.734.437.741.949.351.850.964.273.083.588.084.881.163.175.293.685.764.264.064.359.858.973.884.184.099.1
100.687.487.483.482.387.489.8
In-directbusi-nesstaxandnon-taxac-
cruals
7.17.19.4
10.111.311.812.814.215.517.118.420.121.323.425.327.729.729.632.235.037.438.641.745.348.051.554.658.762.565.270.178.786.394.0
103.4111.1120.8129.0140.0151.7165.7178.1189.4213.3251.5258.8282.5310.6328.5254.5256.2260.1264.5267.0281.1288.3293.7302.4308.8314.0317.4321.3329.8329.8333.0
Contri-butions
forsocialinsur-ance
0.3
2.22.42.83.54.65.26.37.76.76.06.67.48.89.39.6
10.612.013.515.515.918.821.922.925.428.530.131.640.645.550.457.962.268.979.097.6
110.5118.5134.5149.8171.7197.8216.5251.2269.6290.8325.2354.9265.2268.7271.3273.0284.1288.3292.4298.5318.6323.2327.4331.7348.0352.9356.4362.3
Expenditures
Total »
10.310.717.618.528.864.093.3
103.192.947.243.451.160.061.479.594.3
102.097.598.5
105.0115.8128.3131.9137.3150.1161.6169.1177.8189.6215.6245.0272.2290.2317.4346.8377.3411.7467.4544.9587.5635.7694.8768.3889.6
1,006.91,111.61,190.41,279.81,401.21,067.01,080.81,123.21,175.31,167.41,185.11,196.21,212.81,237.41,263.61,292.31,325.71,353.91,379.21,416.31,455.6
Pur-chases
ofgoodsandserv-ices
8.98.3
13.614.225.059.888.997.183.029.126.432.639.038.860.475.882.876.075.379.787.395.497.9
100.6108.4118.2123.8130.0138.6158.6179.7197.7207.3218.2232.4250.0266.5299.1335.0356.9387.3425.2467.8530.3588.1641.7675.7736.8814.6622.1625.7647.1671.8669.3673.8681.1678.6696.5735.1747.3768.4777.2794.8832.5853.7
Trans-fer
pay-ments
1.01.52.62.72.62.72.43.06.0
13.113.114.516.918.014.814.315.117.118.519.422.226.527.629.433.734.836.838.341.346.054.762.969.784.199.8
111.3127.0150.9189.6207.2221.6239.5268.0319.2362.2404.0435.1448.1478.5382.7393.1410.4429.7428.5436.8434.0441.0441.9444.7449.3456.5470.2474.4483.2486.0
Net interest paid
Total
0.71.01.11.21.21.41.92.43.24.14.24.24.34.44.54.54.64.74.75.25.65.46.36.96.46.97.47.98.18.58.9
10.311.512.412.512.915.216.518.823.225.128.230.836.352.260.168.188.4
102.757.959.361.961.462.165.170.574.680.383.392.497.799.9
103.8100.9106.1
Inter-estpaid
10.19.9
10.811.612.513.214.515.718.119.822.323.124.829.633.637.743.647.956.568.283.2
109.1128.3145.1173.9193.8122.0126.3131.5133.2136.1140.8148.7155.0162.7168.4178.8185.7188.6193.1194.1199.3
Less:Inter-
est re-ceived
bygovern-
ment
3.33.53.94,24.65.16.06.87.78.39.9
10.611.914.317.118.920.422.828.337.546.956.968.177.185.491.164.167.069.671.874.075.878.180.482.485.186.388.088.689.393.293.2
Less:Divi-
dendsre-
ceivedby
govern-ment
bT.2.2.3.3.5.9.9.9
1.31.72.01.92.32.92.83.54.72.82.93.03.12.82.72.72.93.23.43.63.84.14.54.85.2
Subsi-dieslesscur-rentsur-
plus ofgovern-mententer-prises
-0.2.0.4.4.1.1.1.6
!9_ 2-!i-.3
.1-.1-.3_ 5-'.3
.0
.7
.71.1.1.4
1.71.81.11.71.62.51.61.41.92.92.63.73.51.22.41.03.03.93.55.76.78.7
13.910.19.96.95.66.7
15.410.310.813.021.522.04.06.97.4
10.79.54.4
14.9
Surplusor
deficit(-),
na-tional
incomeand
prod-uct ac-counts
1.014
-2.2-.738
-31.4-44.1-51.8-39.5
5.414.48.4
-3.48.06.138
-7.0-7.1
3.15.2
.9-12.6
1.63.1
-4.3-3.8
.7-2.3
-U-14.2-6.0
9.9-10.6-19.5-3.4
7.9-4.3
-64.9-38.4-19.1
-.411.5
-34.5-29.7
-110.8-130.8-108.5-139.0-76.0-77.7122.5
-166.8-150.0-123.8-127.0-122.2-93.8-97.3
-116.0-126.8-99.4
-151.9-144.5-160.4
Adden-dum:
Grants-in-aid
toStateandlocal
govern-ments
0.1
LO.9.8.9.9.9.9
1.11.72.02.22.32.52.62.82.93.13.34.25.66.86.57.28.09.1
10.411.114.415.918.620.324.429.037.540.643.954.661.167.577.380.588.787.983.986.293.698.982.984.783.384.585.885.887.186.291.393.093.097.395.797.6
100.6101.5
1 Includes an item for the difference between wage accruals and disbursements, not shown separately.Source: Department of Commerce, Bureau of Economic Analysis.
344
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-78.—Federal Government receipts and expenditures, national income and product accounts,
1964-87
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
Fiscal: 2196419651966196719681969197019711972197319741975.. .19761977197819791980198119821983198419851986 3
1987 3
Calendar:1964196519661967196819691970197119721973197419751976197719781979198019811982198319841985"
1983:1I II l lIV
1984- 1III I IIV
1985- 1I II l lIV *
Receipts
Total
116.8121.4134.0148.1162.1192.5198.0196.2217.9245.3277.2290.5322.6374.7424.3491.2538.6623.8643.3644.6710.1773.1823.2905.2
116.2125.8143.5152.6176.9199.7195.4202.7232.2263.7293.9294.9340.1384.1441.4505.0553.8639.5635.3658.1725.1785.7
636.3665.2659.7671.1
709.4721.8727.1742.1
789.7754.9790.7
Personaltax andnontaxreceipts
50.751.457.564.471.490.294.087.9
100.5107.5122.7127.5137.1165.9186.5222.9250.7289.6310.0292.9304.0345.2360.1392.1
48.653.961.767.579.795.192.690.3
108.2114.7131.3125.9147.3169.8194.9231.0257.9298.9304.5295.0311.3351.1
297.1304.2286.2292.5
297.8303.9315.7327.8
363.9321.3355.4363.8
Corpo-rate
profitstax
accruals
25.727.130.830.333.136.832.931.934.240.943.442.152.159.067.875.770.269.452.154.573.667.684.8
104.1
26.128.931.430.036.136.130.633.536.643.345.143.654.661.671.474.470.365.749.059.374.467.6
46.558.266.466.1
78.980.169.469.2
65.965.068.9
Indirectbusinesstax andnontax
accruals
15.516.815.415.717.018.619.120.019.820.621.322.124.224.527.129.035.353.450.050.254.956.455.860.7
16.116.415.516.217.918.919.220.319.921.121.623.823.325.028.029.338.856.248.151.655.857.0
46.352.853.753.6
54.655.856.756.2
55.560.255.457.0
Contri-butions
forsocialinsur-ance
25.026.030.237.740.646.952.056.563.476.389.898.8
109.1125.4142.9163.6182.3211.4231.1247.0277.6304.0322.5348.3
25.426.634.938.943.249.652.958.767.584.695.9
101.6115.0127.7147.0170.3186.8218.8233.7252.2283.6309.9
246.5250.1253.4258.8
278.1282.0285.4288.9
304.4308.4311.0315.9
Expenditures
Total !
118.4119.9134.3156.7174.4187.3198.7216.8237.1260.4283.9335.7378.9419.6459.9506.4589.0682.4755.9833.5875.6963.2
1,015.91,043.7
119.5125.3145.3165.8182.9191.3207.8224.8249.0269.3305.5364.2393.7430.1470.7521.1615.1703.3781.2837.5898.0983.0
824.2835.8839.4850.6
867.2884.9905.2934.7
952.4964.0992.0
1,023.4
Purchagoods
serv
Total
67.065.873.987.697.0
100.399.898.3
104.4105.3109.3123.9132.2146.8158.6173.1199.9231.8264.4288.2299.5342.2358.6372.7
66.468.780.492.7
100.1100.098.899.8
105.8106.4116.2129.2136.3151.1161.8178.02081242.2272.7284.8312.9353.9
287.1287.0286.0279.2
285.6314.8318.5332.9
334.4337.8364.8378.6
ses ofand
Nationaldefense
51.549.455.768.877.078.578.275.776.277.178.886.391.599.2
106.3117.7137.2160.7187.3211.3230.8255.7269.9289.4
50.451.062.073.479.178.976.874.177.477.582.689.693.4
100.9108.9121.9142.7167.5193.8215.7237.0262.0
209.4214.5215.8222.9
228.3235.8236.2247.5
249.5256.0269.9272.5
Transferpayments
Topersons
27.428.431.837.242.948.955.368.176.587.6
102.3131.9154.3167.1179.3198.5235.4274.6305.6339.7342.3359.9378.4393,8
27.930.333.540.246.250.861.673.080.993.7
115.0146.8159.3170.1182.4205.6247.0282.1316.3340.0344.4366.4
338.2343.6338.2340.1
342.5343.5345.3346.4
362.9364.2368.8369.7
To for-eign-ers
2.32.32.42.32.22.32.22.53.02.83.23.73.74.14.45.15.86.77.27.79.9
13.115.514.1
2.32.32.42.42.32.22.32.72.92.93.64.04.44.24.75.26.56.57.88.5
10.713.3
6.27.28.4
12.2
8.18.3
11.015.5
11.212.514.714.7
Grants-in-aid
toStateandlocalgov-ern-
ments
9.810.912.714.817.819.222.626.832.640.441.648.457.566.374.779.186.790.183.485.790.797.8
102.693.9
10.411.114.415.918.620.324.429.037.540.643.954.661.167.577.380.588.787.983.986.293.698.9
85.885.887.186.2
91.393.093.097.3
95.797.6
100.6101.5
Netinter-est
paid
7.78.28.79.6
10.412.013.514.114.015.719.621.725.128.533.540.750.866.782.290.6
109.7128.7139.8146.1
8.08.49.29.8
11.312.714.113.814.418.020.723.026.829.135.242.553.372.484.694.3
115.5129.0
88.091.196.8
101.2
107.2110.4119.5124.8
126.4130.1127.1132.5
Subsi-diesless
currentsurplus
ofgovern-
mententer-prises
4.14.34.85.24.14.75.57.06.59.17.75.96.26.99.79.9
10.412.513.021.223.521.421.023.1
4.54.65.54.74.55.26.56.37.97.85.66.95.88.29.59.2
11.512.316.023.221.121.3
18.819.822.531.6
32.715.118.018.5
21.920.915.926.6
Surplusor
deficit( ),
nationalincome
andproduct
accounts
-1.51.4
-.386
1235.2
_ 7-20.5-19.2-15.2-6.8
-45.3-56.3-44.8-35.6-15.2-50.4-58.5
-112.6-188.9-165.5-190.1-192.7-138.6
-3.3.5
-1.8-13.2-6.0
8.4-12.4-22.0-16.8-5.6
-11.6-69.4-53.5-46.0-29.3-16.1-61.3-63.8
-145.9-179.4-172.9
197.3
-187.9-170.6-179.7-179.5
-157.8-163.0-178.1-192.7
-162.6-209.1-201.3
1 Includes an item for the difference between wage accruals and disbursements, not shown separately.2 Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscal year
is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscal periodknown as the transition quarter.
3 Estimates.Sources: Department of Commerce (Bureau of Economic Analysis) and Office of Management and Budget.
345Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-79.—State and local government receipts and expenditures, national income and product accounts,1946-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Calendar yearor quarter
19461947194819491950195119521953195419551956195719581959I960196119621963196419651966 ...196719681969197019711972197319741975 .19761977197819791980 . . . .19811982198319841985 »1982- 1
IIillIV
1983- 1||III. ,IV
1984: 1||I I IIV
1985: 1I IIIIIV "
Receipts
Total
13.015.417.719.521.323.425.427.429.031.735.038.542.046.650.054.158.663.469.875.585.294.1
107.9120.8135.8153.6179.3196.4213.1239.6270.1300.1330.3355.3390.0425.6449.4487.7539.8575.4437.2446.8453.7459.8466.9481.8496.6505.7525.5537.4542.2554.1560.5570.0581.8
Personaltax andnontaxreceipts
1.51.72.12.42.52.83.03.23.53.94.55.05.46.26.87.58.49.0
10.211.313.215.018.021.123.627.033.837.340.544.751.558.366.273.782.694.5
104.9116.1130.5142.0101.1103.4106.9108.1110.2113.9118.2121.9125.7129.6131.8134.6137.8141.1142.91463
Corpo-rate
profitstax
accruals
0.5.6.7.6.8.9.8.8.8
1.01.01.01.01.21.21.31.51.71.82.02.22.63.33.63.74.35.36.06.77.39.6
11.412.113.614.515.414.015.919.218.114.414.114.213.412.515.617.717.820.220.518.118.117.517.318.5
Indirectbusinesstax andnontax
accruals
9.310.712.213.314.615.917.418.819.921.623.825.727.229.332.034.437.039.442.646.149.753.960.867.474.883.191.299.6
107.4116.2128.4140.7150.0160.1174.5195.3210.8231.0254.8271.4204.1209.0213.0216.9220.8228.3234.6240.1247.8253.0257.3261.2265.8269.5274.4276.1
Contribu-tions for
socialinsurance
0.6.7.8.9
1.11.41.61.72.02.12.32.62.83.13.43.73.94.24.75.05.76.77.28.39.2
10.211.513.014.616.819.522.124.727.429.732.535.838.641.645.034.735.536.336.937.638.339.039.740.541.242.042.843.644.545.446.3
Federalgrants-in-
aid
1.11.72.02.22.32.52.62.82.93.13.34.25.66.86.57.28.09.1
10.411.114.415.918.620.324.429.037.540.643.954.661.167.577.380.588.787.983.986.293.698.982.984.783.384.585.885.887.186.291.393.093.097.395.797.6
100.6101.5
Expenditures
Total '
11.114.417.620.222.523.925.527.330.232.935.939.844.447.049.954.558.262.968.875.584.795.2
107.8119.3134.0151.0165.8182.9205.9235.2254.9273.2301.3327.7363.2391.4414.3439.1475.4517.1404.0411.5417.4424.1429.0435.1443.9448.5461.5471.7480.1488.3497.2512.7524.9533.6
Pur-chases
ofgoods
andservices
9.912.815.318.019.821.823.124.827.730.333.336.940.843.346.150.253.558.163.569.978.287.097.6
107.2119.4132.5144.2160.1182.9205.9220.6236.2263.4289.9322.2345.9369.0390.9423.9460.7359.2366.4371.8378.7382.2386.9395.1399.4410.9420.3428.8435.5442.8457.1467.7475.2
Trans-fer
pay-ments
toper-sons
1.72.33.03.03.63.13.53.63.84.04.24.65.15.65.96.57.07.58.28.8
10.112.114.516.720.124.027.530.432.338.943.647.452.457.265.773.679.986.693.098.876.779.281.482.384.186.087.488.791.492.993.194.796.197.799.7
101.7
Netinterest
paidlessdivi-
dendsreceived
0.2.1.1.1.1.0.0.0.1.1.1.1.1.1.1.1.2.1
-.1-.3-.6-.9
-1.1-1.3-2.0-1.6-1.8
33-5.0-5.1-4.5-5.3-8.7
-13.8-18.9-22.4-27.4-29.0-30.5-31.0-25.3-27.1-28.2-28.9-28.7-28.8-29.0-29.5-30.1-30.4-30.6-30.8-30.6-30.8-31.0-31.6
Subsi-diesless
currentsurplus
ofgovern-
mententer-prises
-0.78
-.89g
-1.01 1
-1.2-1.3
15-1.6-1.7-1.7-2.0-2.2-2.3-2.5-2.8-2.8-3.0-3.0-3.1-3.2-3.3-3.6-3.7-4.2-4.3-4.4-4.5-4.8-5.1-5.6-5.7-5.8-5.6-7.3-9.3
-11.0-11.4-6.6-7.1-7.5-8.0-8.5
9.0-9.6
-10.1-10.7-11.0-11.2-11.1-11.2-11.3-11.5
116
Surplusor
deficit(-),
nationalincome
andproduct
accounts
1.91.0.1
12-.4
0.1
-1.113
-.9-1.4-2.4-.4
.1-.4
.5
.51.0
-.0.5
-1.1.1
1.51.82.6
13.513.57.24.5
15.226.928.927.626.834.135.148.664.458.333.235.236.335.837.946.852.757.264.065.762.165.863.257.356.9
1 Includes an item for the difference between wage accruals and disbursements, not shown separately.Source: Department of Commerce, Bureau of Economic Analysis.
346Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-80.— State and local government revenues and expenditures, selected fiscal years, 1927-84
[Millions of dollars]
Fiscal year 1
1927
1932193419361938
194019421944 . .. .19461948
1950195219531954
19551956195719581959
1960196119621963
1962-631963-641964-65
1965-661966-671967-681968-691969-70
1970-711971-721972-731973-741974-75
1975-761976-771977-781978-791979-801980-811981-821982-831983-84
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
256,176285,157315,960343,278382,322423,404457,654486,878542,847
Propertytaxes
4,730
4,4874,0764,0934,440
4,4304,5374,6044,9866,126
7,3498,6529,3759,967
10,73511,74912,86414,04714,983
16,40518,00219,05420,089
19,83321,24122,583
24,67026,04727,74730,67334,054
37,85242,87745,28347,70551,491
57,00162,52766,42264,94468,49974,96982,06789,25396,457
Salesandgrossre-
ceiptstaxes
470
7521,0081,4841,794
1,9822,3512,2892,9864,442
5,1546,3576,9277,276
7,6438,6919,4679,82910,437
11,84912,46313,49414,456
14,44615,76217,118
19,08520,53022,91126,51930,322
33,23337,51842,04746,09849,815
54,54760,64167,59674,24779,92785,97193,613100,247114,097
Individ-ual
incometaxes
70
7480153218
224276342422543
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
24,57529,24633,17636,93242,08046,42650,73855,12964,623
Corpo-rationnet
incometaxes
92
7949113165
156272451447592
593846817778
744890984
1,0181,001
1,1801,2661,3081,505
1,5051,6951,929
2,0382,2272,5183,1803,738
3,4244,4165,4256,0156,642
7,2739,17410,73812,12813,32114,14315,02814,25817,047
Revenuefrom
FederalGovern-ment
116
2321,016948800
945858954855
1,861
2,4862,5662,8702,966
3,1313,3353,8434,8656,377
6,9747,1317,8718,722
8,66310,00211,029
13,21415,37017,18119,15321,857
26,14631,34239,25641,82047,034
55,58962,44469,59275,16483,02990,29487,28289,98397,052
Allother3
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
57,19161,12468,43679,86495,466111,599128,926138,009153,570
General expenditures by function 2
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
256,731274,215296,983327,517369,086407,449436,896466,421505,006
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
97,216102,780110,758119,448133,211145,784154,282163,876176,108
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
23,90723,05824,60928,44033,31134,60334,52036,65539,516
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
32,60435,90639,14041,89847,28854,12157,99660,48466,431
Allother4
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
103,004112,472122,476137,731155,277172,941190,098205,406222,951
1 Fiscal years not the same for all governments. See Note.2 Excludes revenues or expenditures of publicly owned utilities and liquor stores, and of insurance-trust activities. Intergovernmental
receipts and payments between State and local governments are also excluded.3 Includes licenses and other taxes and charges and miscellaneous revenues.4 Includes expenditures for libraries, hospitals, health, social insurance administration, veterans' services, air transportation, water
transport and terminals, parking facilities, police protection, fire protection, correction, protective inspection and regulation, sewerage,natural resources, parks and recreation, community development, sanitation other than sewerage, general control, financialadministration, general public buildings, interest on general debt and unallocable items.
Note.—Data for fiscal years listed from 1962-63 to 1983-84 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.
347Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-81.—Interest-bearing public debt securities by kind of obligation, 1967-85
[Millions of dollars]
End of yearor month
Fiscal year:196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985
1984: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1985: Jan..FebMarAprMayJune
JulyAugSeptOctNovDec
Totalinterest-bearingpublicdebt
securities
322,286344,401351,729
369,026396,289425,360456,353473,238
532,122619,254697,629766,971819,007
906,402996,495
1,140,8831,375,7511,559,570
1,821,010
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
1,677,7851,696,1881,695,2231,730,6661,751,8381,759,826
1,798,9121,806,9051,821,0101,829,8851,888,8441,943,402
Marketable
Total
3210,672226,592226,107
232,599245,473257,202262,971266,575
315,606392,581443,508485,155506,693
594,506683,209824,422
1,024,0001,176,556
1,360,179
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
1,259,4161,274,9091,271,6701,300,8951,314,3081,310,712
1,343,5501,347,7631,360,17941.375.619*1,411,46941,437,653
Treasurybills
58,53564,44068,356
76,15486,67794,648100,061105,019
128,569161,198156,091160,936161,378
199,832223,388277,900340,733356,798
384,220
346,888349,461350,230347,259344,209343,282
347,431360,447356,798359,066365,208374,369
374,471376,760379,477379,851381,220381,872
384,462387,345384,220389,716397,561399,893
Treasurynotes
49,10871,07378,946
93,489104,807113,419117,840128,419
150,257191,758241,692267,865274,242
310,903363,643442,890557,525661,687
776,449
597,581607,975604,915629,787635,781632,120
657,216666,141661,687686,531691,858705,092
712,778719,762713,836738,455745,124740,910
766,677760,882776,449777,687788,611812,488
Treasurybonds
97,41891,07978,805
62,95653,98949,13545,07133,137
36,77939,62645,72456,35571,073
83,77296,178103,631125,742158,070
199,510
137,411142,628142,586146,299151,262151,233
155,177158,109158,070162,042167,971167,942
172,168178,387178,357182,589187,963187,930
192,411199,537199,510199,470211,103211,078
Nonmarketable
Total
111,614117,808125,623
136,426150,816168,158193,382206,663
216,516226,673254,121281,816312,314
311,896313,286316,461351,751383,015
460,831
353,732355,697354,368361,047364,141374,496
377,070374,271383,015402,231404,347413,230
418,369421,279423,554429,771437,531449,114
455,362459,142460,831454,265477,375505,749
U.S.savingsbonds
51,21351,71251,711
51,28153,00355,92159,41861,921
65,48269,73375,41179,79880,440
72,72768,01767,27470,02472,832
77,011
70,71570,98171,31871,53771,78072,042
72,25972,49472,83272,98073,33973,058
73,33673,72474,08974,53474,99275,426
75,92776,49077,01177,53678,11578,073
Foreigngovern-mentand
publicseries l
1,5143,7414,070
4,7559,27018,98528,52425,011
23,21621,50021,79921,68028,115
25,15820,49914,64111,4508,806
6,638
10,8049,8029,9169,8619,0098,847
9,3638,5608,8068,4538,7109,114
9,3788,5989,0878,8407,6638,333
8,1477,1536,6387,1567,0367,527
Govern-ment
accountseries
56,15559,52666,790
76,32382,78489,598101,738115,442
124,173130,557140,113153,271176,360
189,848201,052210,462234,684259,534
313,928
235,045236,988234,640240,864243,217253,182
254,915252,197259,534278,187278,407286,199
290,527293,292292,219297,355302,536310,995
313,956314,849313,928302,625319,425332,174
Other *
2,7312,8283,051
4,0685,7593,6543,7014,289
3,6444,88316,79727,06727,400
24,16423,71824,08535,59341,843
63,255
37,16837,92638,49438,78540,13540,425
40,53341,02041,84342,61143,89144,859
45,12745,66448,15949,04352,33954,359
57,33260,64863,25566,94872,79987,975
1 Nonmarketable certificates of indebtedness, notes, bonds, and bills in the Treasury foreign series of dollar-denominated and foreign-currency denominated issues.
2 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.
3 Includes $5,610 million in certificates not shown separately.4 Includes Federal Financing Bank securities, not shown separately: $8,747 million in October, and $14,194 million in November and in
December.
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.
Source: Department of the Treasury.
348Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-82.—Maturity distribution and average length of marketable interest-bearing public debt securitiesheld by private investors, 1967-85
End of year or month
Fiscal year:196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985
1984- JanFebMarAprMayJune
JulyAugSeptOctNovDec
1985: JanFebM a r . . .AprMayJune
JulyAugSeptOctNovDec
Amountout-
standing,privately
held
Maturity class
Withinlyear
Ito5years
5 to 10years
10 to 20years
20 yearsana over
Millions of dollars
150,321159,671156,008
157,910161,863165,978167,869164,862
210,382279,782326,674356,501380,530
463,717549,863682,043862,631
1,017,488
1,185,675
925,683953,274942,372955,267970,488969,341
1,003,2601,026,4971,017,4881,054,4031,062,2511,081,548
1,099,8571,110,2721,106,7981,121,9771,145,2711,138,109
1,171,6621,173,5791,185,6751,193,3761,224,0741,237,340
56,56166,74669,311
76,44374,80379,50984,04187,150
115,677151,723161,329163,819181,883
220,084256,187314,436379,579437,941
472,661
399,857418,060413,070408,445413,316415,474
424,193444,361437,941447,809447,330455,801
461,758462,955463,882457,352467,260465,310
470,538473,060472,661480,307492,916490,217
53,58452,29550,182
57,03558,55757,15754,13950,103
65,85289,151113,319132,993127,574
156,244182,237221,783294,955332,808
402,766
317,869323,520311,574325,657332,509322,719
343,145342,249332,808354,372362,598365,794
372,608378,690366,843385,122392,430379,046
401,502398,089402,766407,877413,960423,625
21,05721,85018,078
8,28614,50316,03316,38514,197
15,38524,16933,06733,50032,279
38,80948,74375,74999,174130,417
159,383
108,471110,595116,643117,644115,773122,146
122,928123,641130,417131,895128,376136,121
137,280136,490143,745143,704145,696153,878
155,237151,550159,383154,326156,262163,049
6,1536,1106,097
7,8766,3576,3588,7419,930
8,8578,0878,42811,38318,489
25,90132,56933,01740,82649,664
62,853
46,80643,88243,86843,58847,10947,141
47,13349,66749,66449,65552,09052,068
56,35354,69954,72254,32058,37258,362
62,87262,86762,85362,85366,15466,003
12,96812,67012,337
8,2727,6456,9224,5643,481
4,6116,65210,53114,80520,304
22,67930,12737,05848,09766,658
88,012
52,68057,21757,21759,93361,78161,861
65,86166,57966,65870,67271,85771,765
71,85877,43877,60681,47881,51381,513
81,51388,01388,01288,01394,78294,446
Average length
Years
544
33332
22233
34344
4
444444
444444
444444
454455
Months
152
8631
11
871137
901116
11
334455
566577
68881010
90111000
Note.—All issues classified to final maturity.Through fiscal year 1976, the fiscal year was on a July 1—June 30 basis; beginning October 1976 (fiscal year 1977), the fiscal year
is on an October 1—September 30 basis.Source: Department of the Treasury.
349
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-83.—Estimated ownership of public debt securities, 1976-85
[Par values;J billions of dollars]
End of month
1976:JuneDec
1977:JuneDec
1978:JuneDec
1979:JuneDec
1980:JuneDec
1981:Mar
JuneSeptDec
1982:MarJuneSeptDec
1983:MarJuneSeptDec
1984:MarJuneSeptDec
1985:MarJuneSept
Totalpublicdebt
securi-ties
620.4653.5
674.4718.9
749.0789.2
804.9845.1
877.6930.2
964.5
971.2997.9
1,028.7
1,061.31,079.61,142.01,197.1
1,244.51,319.61,377.21,410.7
1,463.71,512.71,572.31,663.0
1,710.71,774.61,823.1
Held byGovern-
mentaccounts
149.6147.1
151.2154.8
161.1170.0
178.5187.1
194.9192.5
190.9
199.9208.1203.3
202.5211.7216.4209.4
201.2229.3239.0236.3
239.8257.6263.1289.6
295.5313.5315.2
Held
FederalReserveBanks
94.497.0
102.2102.8
110.1110.6
109.7117.5
124.5121.3
119.0
120.0124.3131.0
125.6127.0134.4139.3
136.7141.7155.4151.9
150.8152.9155.0160.9
161.0169.1169.7
Held by private investors
Total
376.4409.5
421.0461.3
477.8508.6
516.6540.5
558.2616.4
654.6
651.2665.4694.5
733.3740.9791.2848.4
906.6948.6982.7
1,022.6
1,073.01,102.21,154.11,212.5
1,254.11,292.01,338.2
Com-mercialbanks2
91.4103.5
102.798.9
97.895.0
86.188.1
97.4112.1
117.0
119.7112.7111.4
116.1116.1117.8131.4
153.2171.6176.3188.8
189.8182.3183.0183.4
195.0196.3196.9
Nonbank investors
Total
285.0306.0
318.3362.4
380.0413.6
430.5452.4
460.8504.3
537.6
531.5552.7583.1
617.2624.8673.4717.0
753.4777.0806.4833.7
883.2919.9971.1
10291
1,059.11,095.71,141.3
Individuals3
Total
96.1101.6
104.9107.8
109.0114.0
115.5118.0
116.5117.1
105.2
107.4109.7110.8
112.5114.1115.6116.5
116.7121.3128.9133.4
136.2142.2142.4143.8
145.1148.7151.3
Sav-ings
bonds4
69.672.0
74.476.7
79.180.7
80.679.9
73.472.5
70.4
69.268.368.1
67.567.467.668.3
68.869.770.671.5
72.272.973.774.5
75.476.778.2
Othersecur-rities
26.529.6
30.531.1
29.933.3
34.938.1
43.144.6
34.8
38.241.442.7
45.046.748.048.2
47.951.658.461.9
64.069.368.769.3
69.772.073.1
Insur-ancecom-
panies
14.416.2
18.119.9
19.720.0
20.921.4
22.324.0
25.6
26.427.629.0
32.132.534.839.1
43.747.451.256.7
57.161.673.282.3
84.0
Moneymar-ket
funds
0.81.1
.8
.9
1.31.5
3.85.6
5.33.5
14.5
9.011.421.5
25.722.438.642.6
44.828.322.122.8
19.414.913.625.9
26.724.822.7
Corpora-tions5
23.323.5
22.118.2
17.317.3
18.617.0
14.019.3
17.0
19.918.017.9
16.917.621.624.5
27.232.835.939.7
42.645.347.750.1
50.952.356.5
Stateandlocal
govern-ments6
33.839.8
46.851.9
59.564.5
71.274.1
78.987.9
91.8
96.999.8
104.3
108.4113.6122.4127.8
137.1144.9149.9155.1
162.9165.0
Foreignand
interna-tional7
69.878.1
87.9109.6
119.5133.1
114.9119.0
118.2129.7
138.2
136.6130.7136.6
136.1137.2140.6149.5
156.2160.1160.1166.3
166.3171.6175.5192.9
186.4200.7210.2
Otherinves-tors8
46.845.7
37.754.1
53.763.2
85.697.3
105.6122.8
145.3
135.3155.5163.0
185.5187.4199.8217.0
227.7242.2258.3259.8
298.7319.3
1 U.S. savings bonds, 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 30,1970.5 Exclusive of banks and insurance companies.6 Includes State and local pension funds.7 Consists of the investment of foreign balances and international accounts in the United States.8 Includes savings and loan associations, credit unions, nonprofit institutions, mutual savings banks, corporate pension trust funds, dealers and brokers,
certain Government deposit accounts, and Government-sponsored agencies.Source: Department of the Treasury.
350Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CORPORATE PROFITS AND FINANCE
TABLE B-84.—Corporate profits with inventory valuation and capital consumption adjustments, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939
1940194119421943 ...194419451946194719481949
1950195119521953195419551956195719581959
I960196119621963196419651966196719681969
1970197119721973197419751976197719781979
198019811982198319841985".
1982- 1||I l lIV
1983- 1III l lIV
1984- 1IIIl lIV
1985- 1I IIll
Corporateprofits with
inventoryvaluation
and capitalconsumptionadjustments
9.6-1.5
5.5
8.814.319.724.024.219.717.222.930.328.0
34.939.937.537.736.647.145.745.340.351.4
49.550.358.363.670.781.386.684.190.787.4
74.787.1
100.7113.3101.7117.6145.2174.8197.2200.1
177.2188.0150.0213.8273.3299.0
149.9149.6154.3146.1
173.4205.9228.4247.6
268.0277.8271.2276.2
281.7288.1309.1
Corporateprofits tax
liability
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
22.722.824.026.228.030.933.732.739.439.7
34.437.741.949.351.850.964.273.083.588.0
84.881.163.175.293.685.7
64.264.064.359.8
58.973.884.184.0
99.1100.687.487.4
83.482.387.4
Corporate profits after tax with inventoryvaluation and capital consumption adjustments
Total
8.2-2.1
4.0
5.96.78.39.9
11.29.08.0
11.717.817.8
17.017.318.117.419.025.123.823.821.427.8
26.827.634.337.442.750.452.951.451.447.7
40.349.358.864.149.966.781.0
101.8113.7112.1
•92.4106.886.9
138.6179.7213.3
85.785.690.086.3
114.5132.1144.3163.6
168.9177.1183.8188.8
198.3205.8221.7
Dividends
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
22.522.924.427.029.729.634.639.544.750.1
54.763.666.970.878.183.5
66.466.066.668.5
69.369.671.173.1
75.377.578.980.7
82.083.183.9
Undistributedprofits with
inventoryvaluation
and capitalconsumptionadjustments
2.441
.3
1.92.34.05.56.64.42.55.4
10.810.6
8.28.89.68.69.8
14.812.712.310.115.6
13.914.219.921.925.331.333.531.229.425.2
17.926.434.437.020.237.146.462.369.062.0
37.743.220.067.9
101.6129.8
19.319.623.317.9
45.162.573.290.6
93.699.6
104.9108.2
116.3122.6137.8
Source: Department of Commerce, Bureau of Economic Analysis.
351Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-85.—-Corporate profits by industry, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1929193319391940 . .194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970.....1971 . .19721973197419751976197719781979198019811982198319841985 "1982- 1
ItI I IIV
1983- 1IIIllIV
1984- 1||IllIV
1985- 1IIIll
Corporate profits with inventory valuation adjustment and without capital consumptionadjustment
Total
10.5126.59.8
15.420.524.524.019.319.625.933.431.137.943.340.640.238.447.546.946.641.652.349.850.155.259.866.276.281.278.685.481.469.582.794.9
107.199.4
123.9155.3183.8208.2214.1194.0202.3159.2195.0232.3227.2164.0160.7161.6150.7163.7190.5207.3218.7234.4241.8226.5226.3220.6220.9233.2
Domestic industries
Total
10.2126.19.6
15.020.124.123.518.918.924.932.229.936.741.538.738.436.445.144.143.539.149.646.746.851.555.861.871.576.773.979.974.862.675.185.592.682.4
109.5139.3165.5186.0180.4159.6173.8131.2164.2200.1195.8137.5132.5133.0121.6136.2161.1174.4185.1201.0212.3193.3193.7189.4189.3203.0
Financial '
Total
1.3.3.8
1.01.11.21.31.61.72.11.72.63.13.13.64.04.54.64.85.05.25.76.87.27.07.36.86.97.58.5
9.0.10.411.212.214.115.415.814.711.215.921.629.127.821.016.511.822.719.223.56.59.7
12.418.722.025.022.421.220.820.417.218.419.222.523.8
Fed-eralRe-
servebanks
0.0.0.0.0.0.0.0.1.1.1.1.2.2.2.3.4.4.3.3.5.6.6.7
1.0.8.9
1.01.11.41.72.02.53.13.63.33.44.55.75.76.06.27.79.6
11.914.515.414.816.716.815.515.915.514.814.514.514.915.416.016.417.017.417.117.216.5
Other
1.3.3.8.9
1.01.21.31.61.62.01.62.32.93.03.33.74.14.34.54.54.65.16.06.26.36.45.85.86.26.87.07.98.18.6
10.712.011.28.95.59.9
15.421.418.29.01.9
-3.67.82.56.790
-6.2313.97.5
10.57.55.84.84.0
.21.02.15.37.3
Nonfinancial
Total
8.9-1.5
5.38.6
14.018.922.821.917.316.823.229.626.833.537.934.733.931.840.339.138.333.542.939.539.844.249.054.964.068.264.969.563.750.461.070.276.867.898.3
123.4143.9156.8152.6138.6157.3119.4141.6180.9172.3131.1122.8120.6102.9114.2136.1152.0163.9180.2191.9176.1175.3170.2166.7179.2
Manu-fac-
tur ing2
5.2-.43.35.59.5
11.813.813.29.79.0
13.617.616.220.924.621.722.019.926.024.724.019.426.423.623.326.029.332.339.341.938.641.436.726.734.340.846.239.853.670.980.688.787.577.188.558.071.388.577.661.559.564.346.852.364.678.989.294.294.982.282.777.373.479.7
Trans-porta-tionand
publicutili-ties
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
10.011.011.810.710.810.38.28.59.08.56.7
10.314.817.920.915.217.619.519.322.528.629.721.421.717.616.321.122.923.722.227.829.628.528.629.728.630.4
Whole-saleand
retailtrade
1.0-.5
.71.21.42.23.03.23.33.84.65.54.55.05.04.83.83.85.04.54.44.65.94.95.05.85.97.58.18.29.1
10.410.59.6
11.713.413.912.922.223.027.527.328.721.632.534.639.150.749.937.934.032.933.632.640.839.943.146.852.751.551.848.750.653.6
Other
0.9-.7
.3
.61.11.51.61.61.52.12.93.63.13.63.73.33.13.43.64.14.03.63.63.63.73.94.45.15.66.36.56.96.15.96.56.98.28.3
12.214.717.820.021.122.416.87.58.7
13.015.010.37.75.86.28.27.89.59.4
11.514.713.912.114.514.115.4
Restof theworld
0.2.0.3.3.4.4.4.4.3.7
1.01.31.11.31.71.91.82.02.42.83.12.52.73.13.33.74.04.44.64.44.75.56.56.97.69.3
14.517.014.416.018.322.233.734.428.528.030.832.231.426.428.228.529.127.529.432.933.533.429.533.232.731.331.630.3
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-86 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.
352Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-86.—Corporate profits of manufacturing industries, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
192919331939..
19401941194219431944194519461947 .19481949
1950 .195119521953195419551956195719581959
I960196119621963196419651966196719681969
1970197119721973197419751976197719781979
198019811982198319841985 p . .
1982:1III l lIV
1983- 1||I I IIV
1984- 1IIIIIIV
1985- 1III l l
Corporate profits with inventory valuation adjustment and without capital consumption adjustment
Totalmanufac-
turing
524
33
5595
11 813813.2979.0
13617.616.2
20.924.621.722.019.926.024.724.019.426.4
23.623.326.029.332.339.341.938.641.436.7
26.734.340.846.239.853.670.980.688.787.5
77.188.558.071.388.577.6
61.559.564.346.8
52.364.678.989.2
94.294.982.282.7
77.373.479.7
Durable goods
Total
264
17
3 1647 2817.4452.4587.58.1
12.013.211.711.910.514.312.813.39.3
13.7
11.611.414.016.317.923.023.821.022.219.0
10.216.422.524.714.619.831.338.644.637.3
21.321.02.1
15.331.526.7
3.65.95.5
-6.6
5.511.317.726.7
32.931.428.832.9
27.826.625.2
Pri-marymetalindus-tries
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
0.8.7
1.62.34.92.72.01.33.53.6
2.53.1
-4.927-.9-.4
-3.7-6.0-4.9-5.1
27-3.0-2.9-2.3
-1.2-.7
-1.1-.7
-.7-.9_ 2
Fabri-catedmetalprod-ucts
0.8.7
1.11.31.01.0.9
1.11.11.1.9
1.1
.81.01.11.31.42.02.42.42.32.0
1.11.52.12.61.63.13.94.44.95.2
4.34.42.43.05.04.53.42.72.4.9
1.82.43.04.8
4.44.74.85.9
4.64.34.6
Machin-ery,
exceptelectri-
cal
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
3.02.94.34.73.14.86.78.99.69.17.78.64.13.15.24.8
8.13.73.11.3
1.63.33.34.4
4.56.04.85.7
3.34.85.3
Electricandelec-
tronicequip-ment
0.7.8
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
.32.43.75.86.75.2
4.74.11.71.02.83.21.72.72.6.1
.8
.5
.32.5
2.82.03.23.1
2.72.93.7
Motorvehicles
andequip-ment
1.42.1
3.12.42.42.62.14.12.22.60.93.0
3.02.54.04.94.76.25.13.95.54.8
1.25.15.95.80.72.07.29.48.94.7
25.1
-.86.7
10.07.4
-4.92.71.7
-2.7
1.94.49.5
11.1
14.49.87.48.5
9.57.85.2
Other
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
2.94.35.86.24.04.87.98.8
10.99.5
4.50.7
-.44.19.47.2
-1.0.2.6
-1.2
2.13.74.56.2
8.09.59.9
10.3
8.47.76.5
Nondurable goods
Total
260
1.7
2431465759526678
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
16.517.918.321.625.233.839.642.044.050.2
55.867.555.956.057.051.0
57.953.658.753.5
46.853.361.262.5
61.363.553.449.8
49.546.954.5
Foodand
kindredprod-ucts
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
3.23.52.92.52.58.87.16.96.25.86.18.77.06.87.56.66.76.97.57.1
6.77.06.27.4
8.17.87.36.6
6.67.07.7
Chemi-calsand
alliedprod-ucts
1.71.8
2.32.82.32.22.23.02.82.82.53.5
3.13.23.23.64.04.64.94.35.24.6
3.94.55.26.05.16.48.27.88.27.25.48.25.26.88.15.86.76.24.73.2
5.05.98.28.2
9.09.17.46.8
5.85.75.6
Petro-leumandcoalprod-ucts
2.81.9
2.32.72.32.82.73.03.32.62.12.5
2.52.22.22.12.42.93.23.93.73.3
3.53.63.05.2
10.79.5
13.112.914.722.531.436.529.121.818.316.2
33.526.730.525.9
16.120.525.525.2
20.122.715.714.8
14.111.819.7
Other
3.72.8
2.74.43.63.32.93.64.13.63.34.3
4.24.14.34.65.36.06.86.37.06.9
5.96.47.27.97.09.1
11.214.414.914.7
12.914.114.520.523.122.5
11.113.816.017.3
18.919.921.321.7
24.123.823.021.6
23.022.421.5
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.
353
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-87.—Sales, profits, and stockholders' equity, all manufacturing corporations, 1950-85
[Billions of dollars]
Year orquarter
19501951195219531954195519561957195819591960196119621963 .. .19641965196619671968196919701971197219731973: IVNew series:1973- IV
1974
1975197619771978197919801981198219831984
1983- 1IIIllIV
1984: 1IIIllIV
1985: 1IIIll
All manufacturing corporations
Sales(net)
181.9245.0250.2265.9248.5278.4307.3320.0305.3338.0345.7356.4389.4412.7443.1492.2554.2575.4631.9694.6
708.8751.1849.5
1,017.2
275.1
236.6
1,060.6
1,065.21,203.21,328.11,496.41,741.81,912.82,144.72,039.42,114.32,335.0
490.8527.1534.7561.6
566.1597.9577.1594.0
567.6596.2580.4
Profits
Beforeincometaxes *
23.227.422.924.420.928.629.828.222.729.727.527.531.934.939.646.551.847.855.458.148.152.963.281.421.4
20.6
92.1
79.9104.9115.1132.5154.2145.8158.6108.2133.1165.6
24.134.636.238.2
42.548.538.536.1
35.637.433.7
Afterincometaxes
12.911.910.711.311.215.116.215.412.716.315.215.317.719.523.227.530.929.032.133.228.631.036.548.113.0
13.2
58.7
49.164.570.481.198.792.6
101.370.985.8
107.6
15.522.123.225.0
26.731.025.724.3
22.623.721.6
Stock-holders'equity2
83.398.3
103.7108.2113.1120.1131.6141.1147.4157.1165.4172.6181.4189.7199.8211.7230.3247.6265.9289.9
306.8320.8343.4374.1386.4
368.0
395.0
423.4462.7496.7540.5600.5668.1743.4770.2812.8864.2
787.7804.1821.9837.6
850.9857.0865.1883.6
866.7869.3873.8
Durable goods industries
Sales(net)
86.8116.8122.0137.9122.8142.1159.5166.0148.6169.4173.9175.2195.3209.0226.3257.0291.7300.6335.5366.5
363.1381.8435.8527.3
140.1
122.7
529.0
521.1589.6657.3760.7865.7889.1979.5913.1973.5
1,107.6
220.6243.6243.9265.4
264.6284.8270.7287.5
273.4290.8278.6
Profits
Beforeincometaxes 1
12.915.412.914.011.416.516.515.811.415.814.013.616.818.521.226.229.225.730.631.523.026.533.643.610.8
10.1
41.1
35.350.757.969.672.457.467.234.748.775.5
7.613.212.715.2
18.922.916.617.2
15.418.512.9
Afterincometaxes
6.76.15.55.85.68.18.37.95.88.17.06.98.69.5
11.614.516.414.616.516.912.914.518.424.86.3
6.2
24.7
21.430.834.841.845.235.641.621.730.048.9
4.68.38.09.2
11.714.611.211.4
9.311.38.2
Stock-holders'equity2
39.947.249.852.454.958.865.270.572.877.982.384.989.193.398.5
105.4115.2125.0135.6147.6155.1160.4171.4188.7194.7
185.8
196.0
208.1224.3239.9262.6292.5317.7350.4355.5372.4395.6
359.6368.1376.7385.1
386.5392.1397.2406.7
407.6413.6416.9
Nondurable goods industries
Sales(net)
95.1128.1128.0128.0125.7136.3147.8154.1156.7168.5
. 171.8181.2194.1203.6216.8235.2262.4274.8296.4328.1345.7369.3413.7489.9
135.0
113.9
531.6
544.1613.7670.8735.7876.1
1,023.71,165.21,126.41,140.81,227.5
270.3283.5290.8296.2
301.5313.1306.4306.5
294.2305.5301.8
Profits
Beforeincometaxes1
10.312.110.010.49.6
12.113.212.411.313.913.513.915.116.418.320.322.622.024.826.625.226.529.637.810.6
10.5
51.0
44.654.357.262.981.888.491.373.684.490.0
16.521.323.523.0
23.625.621.919.0
20.218.920.8
Afterincometaxes
6.15.75.25.55.67.07.87.56.98.38.28.59.2
10.011.613.014.614.415.516.415.716.518.023.36.7
7.0
34.1
27.733.735.539.353.556.959.649.355.858.8
11.013.815.215.8
15.016.414.513.0
13.212.413.4
Stock-holders-equity2
43.551.153.955.758.261.366.470.674.679.283.187.792.396.3
101.3106.3115.1122.6130.3142.3151.7160.5172.0185.4191.7
182.1
199.0
215.3238.4256.8277.9308.0350.4393.0414.7440.4468.5
428.1436.0445.2452.5
464.5464.9467.9476.9
459.1455.7456.9
1 In the old series, "income taxes" refers to Federal income taxes only, as State and local income taxes had already been deducted.In the new series, no income taxes have been deducted.2 Annual data are average equity for the year (using four end-of-quarter figures).
Note.—Data are not necessarily comparable from one period to another due to changes in accounting procedures, 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.
354
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-88.—Relation of profits after taxes to stockholders' equity and to sales, all manufacturingcorporations, 1947-85
Year or quarter
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
1965196619671968 . .1969
1970197119721973
1973: IV
New series:
1973: IV
1974
19751976197719781979
19801981198219831984
1983-1 . .I II I IIV
1984:1||I I IIV
1985- 1||I l l
Ratio of profits after income taxes (annualrate) to stockholders' equity— percent 1
Allmanufacturingcorporations
15.616.011.6
15.412.110.310.59.9
12.612.310.98.6
10.4
9.28.99.8
10.311.6
13.013.411.712.111.5
9.39.7
10.612.8
13.4
14.3
14.9
11.613.914.215.016.4
13.913.69.2
10.612.5
7.911.011.311.9
12.514.511.911.0
10.410.99.9
Durablegoods
industries
14.415.712.1
16.913.011.111.110.3
13.812.811.38.0
10.4
8.58.19.6
10.111.7
13.814.211.712.211.4
8.39.0
10.813.1
12.9
13.3
12.6
10.313.714.516.015.4
11.211.96.18.1
12.4
5.19.08.59.5
12.114.911.311.2
9.210.97.8
Nondurablegoods
industries
16.616.211.2
14.111.29.79.99.6
11.411.810.69.2
10.4
9.89.69.9
10.411.5
12.212.711.811.911.5
10.310.310.512.6
14.0
15.3
17.1
12.914.213.814.217.4
16.315.211.912.712.5
10.212.713.714.0
12.914.112.410.9
11.510.911.7
Profits after income taxes per dollar ofsales— cents
Allmanufacturingcorporations
6.77.05.8
7.14.94.34.34.5
5.45.34.84.24.8
4.44.34.54.75.2
5.65.65.05.14.8
4.04.14.34.7
4.7
5.6
5.5
4.65.45.35.45.7
4.84.73.54.14.6
3.24.24.34.5
4.75.24.44.1
4.04.03.7
Durablegoods
industries
6.77.16.4
7.75.34.54.24.6
5.75.24.83.94.8
4.03.94.44.55.1
5.75.64.84.94.6
3.53.84.24.7
4.5
5.0
4.7
4.15.25.35.55.2
4.04.22.43.14.4
2.13.43.33.5
4.45.14.14.0
3.43.92.9
Nondurablegoods
industries
6.76.85.4
6.54.54.14.34.4
5.15.34.94.44.9
4.84.74.74.95.4
5.55.65.35.25.0
4.54.54.44.8
5.0
6.1
6.4
5.15.55.35.36.1
5.65.14.44.94.8
4.14.95.25.3
5.05.24.74.2
4.54.14.4
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-87.Source: Department of Commerce, Bureau of the Census.
355
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-89.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1946-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Yearor
quar-ter
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..
1983:1II....III...IV...
1984:1II....III . . .IV...
1985:1II....HI...
Sources
Total
18.727.028.919.9
42.136.429.927.829.6
52.744.943.441.956.3
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
337.6371.6312.8416.9487.4
326.2419.6423.7498.0
511.1490.6442.8505.1
419.9428.7412.3
Internal
Total
8.112.919.119.5
18.020.221.921.723.9
29.529.531.530.336.0
35.436.542.846.551.8
58.562.663.665.064.4
61.873.585.091.785.6
119.7134.2157.4175.7188.8
189.5230.4234.3280.5334.8
250.4269.7292.5309.3
319.6331.7340.7347.1
351.5357.9379.5
Domes-tic
undis-ributedprofits
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
7.612.718.128.132.4
34.043.954.762.867.3
49.046.010.418.634.3
-1.315.130.630.2
37.639.829.330.6
24.017.322.0
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
-17.3-41.7
-21.1-27.5-26.8-36.1-56.8
-57.2-29.6
-5.521.849.0
17.918.417.233.9
33.444.156.961.5
68.575.686.5
Capitalcon-
sumptionallow-ances
7.69.2
10.811.7
12.614.615.716.717.8
19.021.723.724.725.7
26.627.428.229.230.6
32.535.438.642.346.7
51.856.862.067.278.7
93.8103.6114.3129.2147.7
167.8189.5207.1215.2228.5
211.4212.5217.3219.7
222.8226.5230.1234.3
238.3242.1246.7
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
13.014.315.119.730.6
29.924.422.424.823.0
22.423.727.525.6
25.721.324.320.7
20.722.824.3
External
Total
10.614.19.7
.4
24.016.28.06.15.7
23.215.411.911.720.2
13.219.817.322.022.1
33.335.031.148.551.1
40.551.866.6
100.7104.7
37.376.896.7
141.8156.4
148.1141.3
78.5136.4152.6
75.9149.9131.2188.7
191.5159.0102.1158.0
68.470.832.8
Credit market funds
Total
6.98.46.53.1
8.110.59.55.76.5
10.212.812.310.512.3
12.112.912.812.514.1
18.523.827.827.732.3
35.337.243.456.770.2
30.854.772.480.588.2
93.392.083.382.9
104.7
79.573.067.6
111.5
106.278.076.2
158.6
59.755.023.5
Securi-tiesand
mort-gages
3.65.46.74.9
4.26.48.06.06.7
6.47.5
10.410.58.1
7.510.79.48.47.8
7.614.319.115.014.6
26.332.826.420.726.3
38.738.235.832.820.9
52.421.843.956.7
-15.9
73.276.542.934.2
-33.2-66.6
-5.642.0
-16.522.54.6
Loansand
short-termpaper
3.33.0-.2
-1.8
3.94.11.4
-.4-.2
3.75.31.9
-.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
40.970.239.426.2
120.6
6.3-3.524.777.2
139.4144.6
81.8116.5
76.232.518.9
Other2
3.75.83.3
-2.7
15.95.7
-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
54.849.3
-4.953.547.9
-3.676.963.677.2
85.380.925.9-.6
8.715.89.3
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
82.791.388.5
106.0115.3
98.7122.7149.1191.9190.1
150.9201.8237.6293.7343.7
317.7334.6253.8369.6444.0
284.7379.4379.8434.4
480.6449.9395.7449.9
399.7392.3368.8
Capitalexpendi-tures 3
18.117.320.314.8
24.030.224.625.722.9
32.636.834.927.737.0
37.536.743.244.750.1
61.074.772.275.483.7
80.086.099.0
121.5137.9
109.7148.3175.1201.7219.5
221.2271.2229.6256.3367.8
207.0255.5270.8292.0
355.6364.1387.9363.8
371.5363.5359.0
ncreasein
inancialassets
-1.48.45.03.5
16.47.44.62.34.9
16.54.04.2
10.814.2
3.914.212.315.714.8
21.816.616.330.631.6
18.736.750.170.552.2
41.253.562.592.0
124.3
96.563.424.2
113.376.2
77.7123.9109.0142.4
125.085.97.8
86.1
28.228.89.8
Discrep-ancy
(sourcesess uses)
1.91.43.61.6
1.7-1.2
.6-.11.8
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
1.4
20.037.058.947.343.4
41.540.243.963.6
30.440.747.155.3
20.136.443.5
1 Foreign branch profits, dividends, and subsidiaries' earnings retained abroad.2 Consists of tax liabilities, trade debt, and direct foreign investment in the United States.3 Plant and equipment, residential structures, inventory investment, and mineral rights from U.S. Government.
Source: Board of Governors of the Federal Reserve System.
356
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-90.—State and municipal and business securities offered, 1934-85
[Millions of dollars]
Year or quarter
19341939
1940194119421943194419451946194719481949
19501951 ..19521953 .195419551956195719581959
1960196119621963196419651966196719681969
19701971197219731974 ...1975197619771978 61979
198019811982198319841985: First three
quarters
1984- 1IIIIIIV
1985: 1IIIII
State
municipalsecuritiesofferedfor cash(princi-pal
amounts)
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
47,13346,13477,17983,348101,882
92,022
14,59318,66325,33143,294
21,73734,19436,091
Business securities offered for cash *
Totalofferings
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
67,12665,43473,970103,08885,948
85,892
24,92415,67522,11723,232
20,95830,30034,634
Type of security
Commonstock 2
1987
1081103456163397891779614736
8111,2121,3691,3261,2132,1852,3012,5161,3342,027
1,6643,2941,3141,0112,6791,4731,9011,9273,8857,640
7,0379,48510,7077,6424,0507,4148,3058,0477,7248,816
19,28225,49123,61945,22822,151
27,796
6,3215,1415,3005,389
8,3499,18710,260
Preferredstock
698
183167112124369758
1,127762492425
631838564489816635636411571531
409450422343412724580881636691
1,3903,6833,3713,3412,2733,4592,8033,9161,7571,964
3,1941,6974,9537,6934,219
4,621
1,1221,118678
1,301
8491,7342,038
Bondsandnotes
3721,979
2,3862,389917990
2,6704,8554,8825,0365,9734,890
4,9205,6917,6017,0837,4887,4208,0029,9579,6537,190
8,0819,4208,96910,85610,86512,58514,90421,20616,74017,666
29,02330,06125,62820,70031,49742,75942,20642,26620,46826,468
44,65038,24645,39850,16759,578
53,475
17,4819,41616,13916,542
11,76019,37922,336
Industry of issuer
Manufac-turing3
67604
992848539510
1,0612,0263,7012,7422,2261,414
1,2003,1224,0392,2542,2682,9943,6474,2343,5152,073
2,1524,0773,2493,5143,0465,4147,05611,0696,9586,346
10,64711,6516,3984,83210,51118,65215,49613,7574,4836,643
20,85714,69613,85122,95814,467
17,725
1,7982,7894,5295,351
3,8765,6598,190
Electric,gas, andwater4
1331,271
1,2031,357472477
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
13,74613,07516,52912,7497,523
6,602
1,4911,3822,1102,540
1,4782,7682,356
Transpor-tation 5
176186
32436648161609
1,454711286755800
813494992595778893724824824967
718694567957982702
1,4941,6391,5641,779
1,2531,148860811
1,0053,6374,6493,2181,2511,640
2,3062,3862,1694,1641,733
3,118
432429538334
5201,731867
Communi-cation
902571
399612760882720
1,1321,4191,4621,424717
1,0501,8341,3031,1052,189945
2,0031,9751,7752,172
5,2915,8404,8364,8723,9324,4663,5624,4432,9594,482
6,8655,8713,8995,5272,018
2,061
477124229
1,188
799575687
Other
21103
15996421109211329293
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
23,35629,40637,52257,69060,207
56,386
20,72610,95114,71113,819
14,28519,56722,534
1 Business securities offered include securities offered by corporate and non-corporate business enterprises such as limitedpartnerships. Beginning 1978 excludes private placements.
2 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.5 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 inamounts over $100,000 and with terms to maturity of more than 1 year; excludes notes issued exclusively to commercial banks,intercorporate transactions, and issues to be sold over an extended period, such as employee-purchase plans. Closed-end investmentcompany issues are included beginning 1973.
Sources.- Securities and Exchange Commission, "The Commercial and Financial Chronicle," and "The Bond Buyer."
357Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-91.—Common stock prices and yields, 1949-85
19491950195119521953195419551956195719581959I96019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851984- Jan
FebMarAprMayJuneJulyAugSeptOctNov.Dec
1985: JanFebMarAprMayJuneJulyAug::.SeptOctNovDec
Common stock prices *
New York Stock ̂ change indexes (Dec. 31, 1965=50) 2
Composite
90210.8713.0813.8113.6716.1921.5424.40236724.56307330.0135.3733.4937.51437647.3946.1550.7755.3754.6745.7254.2260.2957.4243.8445.7354.4653.6953.7058.3268.1074.0268.9392.6392.46108.0996.1690.6090.6690.6790.0788.2887.0894.4995.6895.0995.8594.8599.11104.73103.92104.66107.00109.52111.64109.09106.62107.57113.93119.33
Industrial
46.1851.9758.0057.4448.0357.9265.7363.0848.0850.5260.4457.8658.2364.7678.7085.4478.18107.45108.01123.79112.16105.44105.92106.56105.94104.04102.29111.20112.18110.44110.91109.05113.99120.71119.64119.93121.88124.11126.94124.92122.35123.65130.53136.77
Transpor-tation
50.2653.5150.5846.9632.1444.3550.1737.7431.8931.1039.5741.0943.5047.3460.6172.6160.4189.3685.63104.1197.9886.3386.1083.6181.6279.2976.7286.8686.8886.8287.3788.0094.88101.7698.3096.4799.66105.79111.67109.92104.96103.72108.61113.52
Utility
45.4145.4344.1942.8037.2439.5338.4837.6929.7931.5036.9740.9239.2238.2037.3538.9139.7547.0046.4456.7547.4345.6744.8343.8644.2243.6544.1746.4947.4749.0249.9350.5851.9553.4453.9155.5157.3259.6159.6856.9955.9355.8459.0761.69
Finance
44.4549.8265.8570.4960.0070.3878.3570.1249.6747.1452.9455.2556.6561.4264.2573.5271.9995.3489.28114.2195.7989.9589.5088.2285.0680.7579.0387.9291.5992.9495.2895.29101.34109.58107.59109.39115.31118.47119.85114.68110.21112.36122.83128.86
DowJones
industrialaverage3
179.48216.31257.64270.76275.97333.94442.72493.01475.71491.66632.12618.04691.55639.76714.81834.05910.88873.60879.12906.00876.72753.19884.76950.71923.88759.37802.49974.92894.63820.23844.40891.41932.92884.36
1,190.341,178.481,328.231,258.891,164.461,161.971,152.711,143.421,121.141,113.271,212.821,213.511,199.301,211.301,188.961,238.161,283.231,268.831,266.361,279.401,314.001,343.171,326.181,317.951,351.581,432.881,517.02
Standard& Poor'scomposite
index(1941-
43 = 10)4
15.2318.4022.3424.5024.7329.6940.4946.6244.3846.2457.3855.8566.2762.3869.8781.3788.1785.2691.9398.7097.8483.2298.29109.20107.4382.8586.16102.0198.2096.02103.01118.78128.05119.71160.41160.46186.84166.39157.25157.44157.60156.55153.12151.08164.42166.11164.82166.27164.48171.61180.88179.42180.62184.90188.89192.54188.31184.06186.18197.45207.26
Common stock yields(percent) 5
Dividend-priceratio6
6.596.576.135.805.804.954.084.094.353.973.233.472.983.373.173.013.003.403.203.073.243.833.142.843.064.474.313.774.625.285.475.265.205.814.404.644.254.274.594.634.644.724.864.934.624.544.624.614.684.514.304.374.374.314.214.144.234.324.284.063.88
Earnings-priceratio7
15.4813.9911.829.4710.268.577.957.557.896.235.785.904.625.825.505.325.596.635.735.676.086.455.415.507.12
11.599.158.90
10.7912.0313.4612.6611.9611.608.03
10.02
9.59
ib"58
9.97
9.95
9"07
8.12
8"03
1 Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.2 Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.3 Includes 30 stocks.4 Includes 500 stocks.5 Standard & Poor's series, based on 500 stocks in the composite index.6 Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.7 Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of thatquarter. 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.
358Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-92.—Business formation and business failures, 1940-85
Year or month
1940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973'9741975197619771978197919801981198219831984
1984: JanFebMarAprMayJuneJulyAugsept':::::.:::::::OctNovDec
1985- JanFebMarAprMay'::"::::"JuneJulyAug. . .SeptOctNovDec
Indexof net
businessformation(1967 =100)
101.986.490.689.593.391.791.098.496.692.492.298.795.592.193.795.298.6100.299.4100.0106.8112.9106.4108.5115.9114.9109.2107.0115.6123.2128.2128.3122.4118.6113.2114.8117.1
businessincorpo-rationsnumber)
132,916112,89796,34685,64093,09283,77892,946102,706117,411139,915141,163137,112150,781193,067182,713181,535182,057186,404197,724203,897200,010206,569233,635274,267264,209287,577316,601329,358319,149326,345375,766436,170478,019524,565533,520581,242566,942600,400634.991
Seasonally adjusted
115.9117.2116.9117.5115.7117.0115.8119.1119.7117.7116.0116.6117.8118.7116.6116.6114.3116.5116.3117.6117.4116.2117.1115.1
53,04453,59153,42453,93351,16654,72952,09251,72352,23752,58753,49053,50352,41954,37155,58955,71056,12455,33953,92655,41855,99957,57654,773
Business failures *
failurerate2
63.054.444.616.46.54.25.2
14.320.434.434.330.728.733.242.041.648.051.755.951.857.064.460.856.353.253.351.649.038.637.343.841.738.336.438.442.634.828.423.927.842.161.389.0110.0
Number of failures
Total
13,61911,8489,4053,2211,222809
1,1293,4745,2509,2469,1628,0587,6118,86211,08610,96912,68613,73914,96414,05315,44517,07515,78214,37413,50113,51413,06112,3649,6369,15410,74810,3269,5669,3459,91511,4329,6287,9196,6197,56411,74216,79424,90831,334
4,4814,1745,7504,3343,9644,9603,6734,5333,922
3,6754,2265,7684,5865,9144,3884,1855,4684,146
Liability size class
Under$100,000
13,40011,6859,2823,1551,176759
1,0033,1034,8538,7088,7467,6267,0818,07510,22610,11311,61512,54713,49912,70713,65015,00613,77212,19211,34611,34010,83310,1447,8297,1928,0197,6117,0406,6276,7337,5046,1764,8613,7123,9305,6828,23311,50915,509
1,4941,5451,8481,4851,4441,6031,2301,5931,369
1,3251,4451,7551,4641,7691,5081,5051,7791,533
$100,000and over
219163123664650126371397538416432530787860856
1,0711,1921,4651,3461,7952,0692,0102,1822,1552,1742,2282,2201,8071,9622,7292,7152,5262,7183,1823,9283,4523,0582,9073,6346,0608,56113,39915,825
2,9872,6293,9022,8492,5203,3572,4432,9402,553
2,3502,7814,0133,1224,1452,8802,6803,6892,613
Amount of current liabilities(millions of dollars)
Total
166.7136.1100.845.331.730.267.3204.6234.6308.1248.3259.5283.3394.2462.6449.4562.7615.3728.3692.8938.6
1,090.11,213.61,352.61,329.21,321.71,385.71,265.2941.0
1,142.11,887.81,916.92,000.22,298.63,053.14,380.23,011.33,095.32,656.02,667.44,635.16,955.215,610.816,072.9
1,783.31,713.13,479.72,429.43,074.33,427.42,783.71,968.72,045.6
1,872.02,378.43,790.73,279.83,261.92,995.62,150.53,162.41,925.3
Liability size class
Under$100,000
119.9100.780.330.214.511.415.763.793.9161.4151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9327.2370.1346.5321.0313.6321.7321.5297.9241.1231.3269.3271.3258.8235.6256.9298.6257.8208.3164.7179.9272.5405.8541.7635.1
34.534.337.031.530.734.724.631.928.6
25.327.833.429.235.527.527.329.326.6
$100,000and over
46.835.420.515.117.118.851.6140.9140.7146.797.1128.0151.4226.6251.2243.0322.9348.2430.7413.9611.4720.0867.1
1,031.61,015.61,000.01,064.1967.3699.9910.8
1,618.41,645.61,741.52,063.02,796.34,081.62,753.42,887.02,491.32,487.54.362.66,549.315,069.115,437.8
1,748.81,678.83,442.72,397.93,043.53,392.72,759.11,936.82,017.0
1,846.72,350.63,757.33,250.63,226.42,968.12,123.23,133.11,898.7
1 Commercial and industrial failures only through 1983, excluding failures of banks, railroads, real estate, insurance, holding, andfinancial companies, steamship lines, travel agencies, etc.
Data for 1984-85 based on expanded coverage and new methodology and are therefore not generally comparable with earlier data.Data for 1985 are subject to revision due to amended court filings.
2 Failure rate per 10,000 listed enterprises.Sources: Department of Commerce (Bureau of Economic Analysis) and The Dun & Bradstreet Corporation.
359Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
AGRICULTURE
TABLE B-93.—Farm income, 1929-85
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1929 . .19331939
1940194119421943194419451946194719481949
195019511952195319541955 . . .1956195719581959
19601961196219631964196519661967 . .19681969
1970197119721973197419751976197719781979
19801981198219831984
1983- 1IIIllIV
1984- 1||IIIIV .
1985: 1II .Ill
Income of farm operators from farming
Gross farm income
Total »
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
100.6102.9108.7128.4150.7
149.6166.0161.6150.6174.0
152.9143.6151.7154.3
175.7167.3173.7179.8
168.0161.7150.6
Cash marketing receipts
Total
11.35.37.9
8.411.115.619.620.521.724.829.630.227.8
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
112.2131.5
139.8142.1142.9136.3141.8
143.2133.0141.2127.6
139.3139.0141.5147.6
137.61313132.6
Livestockand
products
6.22.84.5
4.96.59.0
11.511.412.013.816.517.115.4
16.119.618.216.916.316.016.417.419.218.9
19.019.520.220.019.921.925.024.425.528.6
29.530.535.645.841.343.146.347.659.269.2
68.069.270.369.472.7
71.068.967.970.0
75.570.871.273.5
72.367.368.5
Crops
5.12.53.3
3.54.66.58.19.29.7
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
21.022.325.541.151.145.849.048.653.062.3
71.872.972.766.869.1
72.264.173.357.6
63.868.270.374.2
65.364.064.1
Value ofinventorychanges2
-0.12
.3
.41.1-.1-.4-.4
.0181.7
— .9
.81.2
.9-.6
.5
.2-.5
.6
.8
.0
.4
.3
.6
.68
1.0-.1
.7
.1
.1
.01.4.9
3.4-1.6
3.4151.12.15.0
-5.95.8
-1.4-10.6
7.8
106-13.9-12.9
49
2.08.7
10.310.2
3.3.8
-.8
Produc-tion
expenses
7.74.46.3
6.97.8
10.011.612.313.114.517.018.818.0
19.522.322.821.521.822.222.723.725.827.2
27.428.630.331.631.833.736.538.239.542.1
44.547.151.764.671.075.082.788.9
101.0119.0
129.4136.1136.9135.6139.5
135.1134.9135.5136.9
139.2140.2140.0138.5
136.6134.7133.2
Net farm income
Currentdollars
6.22.64.4
4.56.59.9
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
14.415.019.534.427.325.620.119.827.431.7
20.229.824.615.034.5
17.88.7
16.217.3
36.527.033.641.2
31.427.017.4
1967dollars3
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
12.412.415.625.918.515.911.810.914.014.6
8.211.08.55.0
11.1
6.12.95.45.7
11.98.7
10.713.1
9.98.45.4
'Cash marketing receipts and inventory changes plus Government payments, other farm cash income, and nonmoney incomefurnished by farms.
2 Physical changes in end-of-period inventory of crop and livestock commodities valued at average prices during the period.3 Income in current dollars divided by the consumer price index (Department of Labor).Note.—Data include net Commodity Credit Corporation loans and operator households.Source: Department of Agriculture, except as noted.
360
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-94.—Farm output and productivity indexes, 1929-85
[1977 = 100]
Year
192919331939
19401941194219431944
194519461947 .19481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985P
Farm output
Total »
444248
5052585759
5860586362
6163666666
6969677374
7676778079
8279838585
8492919388
9597100104111
10311811695111
117
Crops 2
Total3
484349
5152585558
5659566461
5960626261
6363626968
7270717472
7673777980
7786879284
9392100102113
10111611888110
117
Feedgrains
383540
4144514749
4751395750
5147504951
5454586466
6962626859
7070797578
7192889174
9196100108116
9712112467115
132
Foodgrains
392736
4045484151
5355646253
4949635751
4850476955
6660565965
6767768074
6981778691
10810710093108
121144140117129
120
Oilcrops
6514
1616232320
2019222726
2626262628
3034333936
3843444646
5355566465
6668748771
8674100105129
9911412489106
119
Live-stockandprod-ucts2
505456
5760677269
6866656467
7073747477
7979787983
8286868991
8991949495
9910010199100
9599100101104
108109107109107
110
Productivity indicators
Farmoutputper
unit oftotalinput
454651
5254585758
5860586361
6161636465
6768697474
7778798281
8683868788
8794949590
9998100102105
101116117100116
117
Cropproduc-tionperacre4
484351
5354595558
5760576460
5959626261
6364657372
7778818381
8583868991
8896999988
9694100105113
100114117100111
118
Farm output per hour offarm work
Total
9911
1213141414
1516161819
1920222324
2628293335
3739414547
5253586263
6674788179
8994100108119
112131133120139
139
Crops
101012
1314151516
1618182020
2222242526
2830333837
4142454749
5659636668
7079848780
8991100105118
104120126105124
125
Live-stockandprod-ucts
141314
1415161616
1617171818
1920212223
2425262831
3235374043
4549535559
6468737682
8593100109117
129136143154162
160
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.
361
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-95.—Farm input use, selected inputs, 1929-85
Year
192919331939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
198019811982 .. . .19831984
1985 *
Farm populationApril1
Num-ber
(thou-sands)
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
7 6,1947 6,5017 6,2417 6,0517 5,7907 5,6207 5,7875,754
5,355
Asper-centof
totalpopu-lation2
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
4.74.54.64.54.3
4.13.8
7 2.87 2.97 2.87 2.77 2.57 2.47 2.52.4
2.2
Farm employment(thousands) 3
Total
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
4,5234,4364,3734,3374,389
4,3424,3744,1553,9573,774
3,7058 3,6413,5783,5183,461
3,365
Farm-
work-ers
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
4,1283,8543,6503,5353,419
3,3483,2753,2283,1693,075
3,0262,9972,8592,6892,501
2,4028 2,3242,2482,1742,103
2,018
Hiredwork-ers
3,4032,8652,727
2,6792,6522,5552,4362,231
2,1192,1892,2672,3372,252
2,3292,2362,1442,0892,081
2,0361,9521,9401,9821,952
1,8851,8901,8271,7801,604
1,4821,3601,2531,2131,176
1,1751,1611,1461,1681,314
1,3171,3771,2961,2681,273
1,3038 1,3171,3301,3441,358
9 1,347
Cropshar-
vested(mil-
lions ofacres) *
365340331
341344348357362
354352355356360
345344349348346
340324324324324
324302295298298
298294306300290
293305294321328
336337345338348
352366362306348
347
Selected indexes of input use (1977=100)
Total
999396
9797100102103
1009999100102
101104104103102
102101989899
9897979797
9696989797
9798979898
9699100102105
103102999596
100
Farmlabor
468456418
416410420414411
385369350340328
309309295284273
263248231221215
206198189183173
156146142137132
126123116114111
1071031009693
9290877980
Farmreal
estate
107100105
107105103102101
102106106107108
109109108108108
108106105104105
103103104104104
103102104102102
10510310210099
9798100100103
10310310310199
Me-chanicalpowerand
machin-ery
332734
3637444749
5049546268
7277818282
8384838384
8380807980
8082858686
8587869092
9698100104104
10198948988
Agri-culturalchemi-cals'
647
99101113
1314151618
1921232424
2627272832
3235384346
4956666973
7581869092
8396100107123
123129118105120
Feed,seed,andlive-stockpur-
chases6
282637
3942444848
5049515256
5862636365
6669687377
7781838385
8689928993
9610210410799
93101100108115
114108106106106
'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 7.2 Total population of United States including Armed Forces overseas, as of July 1.3 Includes persons doing farmwork on all farms. These data, published by the Department of Agriculture, differ from those onagricultural employment by the Department of Labor (see Table B-31) because of differences in the method of approach, in concepts ofemployment, and in time of month for which the data are collected.4 Acreage harvested plus acreages in fruits, tree nuts, and farm gardens.5 Fertilizer, lime, and pesticides.6Nonfarm constant dollar value of feed, seed, and livestock purchases.7 Based on new definition of a farm. Under old definition of a farm, farm population (in thousands and as percent of totalpopulation) 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; 7,029 and 3.0, respectively.8 Basis for farm employment series was discontinued for 1981 through 1984. Employment is estimated for these years.9 Includes agricultural service workers working on farms.
Note.—Population includes Alaska and Hawaii beginning 1960.Sources: Department of Agriculture and Department of Commerce (Bureau of the Census).
362
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-96.—Indexes of prices received and prices paid by farmers, 1946-85
[1977=100]
Year or month
194619471948194919501951195219531954.19551956 ..19571958 .1959196019611962196319641965196619671968196919701971 . .19721973 ....1974197519761977197819791980198119821983 ..19841985..1984: Jan
FebMarAprMayJuneJulyAugSeptOctNovDec
1985: JanFeb . . .MarAprMayJuneJulyAugSeptOctNovDec
Prices received by farmers
Allfarmprod-ucts
52606355566663565451505155535253535352545855565960626998105101102100115132134139133134142128145144145145145144145143138138136135135135134131129128126121121123127128
Crops
53615952546162555653545252515152545555535552525052566091117105102100105116125134121127138120139138139140145144144143135137129125126125127125124122121114112111115117
Live-stockandprod-ucts
5060655658706456524947515753535253514954605760676767771049498101100124147144143145141146136151151151150145144145143141138143145145145141136134134130128128134138139
Prices paid by farmers
All
ities,services,interest,taxes,andwagerates »
30353836374142404040404243434444454545474949515355586271818995100108123138150157160164164163164164165165165164164164163164163165165164165165164164163162162163163
Production items
Total2
33394341424747444443434446464646474747485050505254576173839197100108125138148150153155151155155157157157156155154154152153152154154153153152151150150148148149149
Tractorsandself-pro-pelledmachin-
ery
39"4042444749515458688291100109122136152165174181178177177180180180182182182182182182182182182180180180111177177174174174174
Fertil-izer
4550555654575959595857585857575858575757565552484850525692120102100100108134144144137143135136136146146147147147147147141141139139139137137135135135135135130130128
Fuelsand
energy
49"4950505152535457798893100105137188213210202201201202203203203203203201199200201200198195192195201203204204203203202205206
Wagerates
20222322222526272727282930323333343536384144485357596369798593100107117126137144148150154150150150150150150150150150150150150154154154158158158154154154150150150
Adden-dum:Aver-agefarmreal
estatevalueperacre3
11131414141618181819192122232425262729313335384042434753667586100109125145158157148146128
146
128
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 for
April 1 for 1982 through 1985.
Source: Department of Agriculture.
363
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-97.—U.S. exports and imports of agricultural commodities, 1940-85
[Billions of dollars]
Year
19401941 . .194219431944
19451946194719481949
19501951195219531954
1955 . . . .1956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
Jan-Nov:19841985
Total »
057
1.2212.1
2331403536
294.0342.831
324.2453.940
48505.05663
626.9646.360
737.794
177219
21923023.6294347
41243336.6361378
34.3264
Feedgrains
4
4
4
44
4)
m.413
2
.3
.2
3.43.56
55.889
1 11.31 1.99
111.0153546
52604.95977
98946.47381
7.355
Foodgrains2
(•»)01(4)( 1
1
.47
1.4151 1
61.11 1.7.5
61.010.89
12141.31517
141.8151.412
141.3184754
62473.65563
79967.97.475
6.941
Exports
Oil-seedsand
prod-ucts
(4)(4)4
01.1
(4)( 4 )( 1
2.3
.2
.3
.2
.2
.3
.4
.55.46
66.78
1.0
121.2131.313
192.2244357
455 16.68.289
9.4969.18.784
7.55.0
Cot-ton
0.21
.12.1
.3545
.9
1.01.1.9
.8
.5
.710
4
109
6.7
5.45.53
4.659
13
10101.51.72 2
2.9232.01.82 4
2.216
To-bacco
(4)m.12.1
.24.32.3
.3
.3
.2
.3
.3
.4
.3
.4
.43
4.4.44.4
.4
.5
.5
.5
.6
.5
.5778
.99
1.11.41.2
1.31.51.51.51.5
1.31.3
Ani-malsand
prod-ucts
0.13.8
121.3
.99.75.4
.3
.3
.4
.5
.6
.77.56
6.6.67.8
.8
.77.7.8
91.01 11618
1.7242.73.03.8
3.84.23.93.84.2
3.93.8
Total »
1.3171.3151.8
1.7232.8312.9
4.05.24.54.24.0
4.04.04.03.941
383.73.94.04.1
4.14.54.55.05.0
5.85.86.58.4
10.2
9.311.013.414.816.7
17.416.815.316.519.3
17.918.1
Crops,fruits,
andvege-
(4)01(*)1 l
.1
.12.12.2
.2
.2
.2
.2
.2
2.22.22
2.2.23
.3
.44.55
.5
.6
.7
.88
.8
.91.21.51.7
1.72.02.32.33.1
2.22.4
mports
Ani-malsand
prod-ucts
0.23.54.3
.44.46.4
71.1
.7
.6
.5
5.45.78
6.7.99.8
.91.21.11.31.4
1.61.51.82.62.2
1.82.32.33.13.9
3.83.53.73.84.1
3.73.8
Cof-fee
0.12.23.3
.35678
1 11.4141.51.5
141.4141.21 1
101.01.0101.2
1.11.11.01.2.9
1.21.21.31.71.6
1.72.94.24.04.2
4.22.92.92.83.3
3.13.0
Cocoabeansand
prod-ucts
4
4
4
4
4
(4)012212.22.23
2.22.22
22
2.2
.1
.1
.2
.2
.2
.3
.2
.2
.3
.5
.5
.61.01.41.2
.9
.9
.7
.81.1
1.01.2
Agri-cultural
tradebalance
-0.810
_ i63
.58
1237
-1 1-1.1-1 1-1.3_ 9
- 8.26
(*)1
101.31.2162.3
2.12.41.91.31.1
1.51.92.99.3
11.7
12.612.010.214.618.0
23.926.621.319.618.5
16.48.3
1 Total includes items not shown separately.2 Rice, wheat, and wheat flour.3 Includes nuts, fruits, and vegetable preparations.4 Less than $50 million.Note.—Data derived from official estimates released by the Bureau of the Census, Department of Commerce. Agricultural commodities
are defined as (1) nonmarine food products and (2) other products of agriculture which have not passed through complex processes ofmanufacture. Export value, at U.S. port of exportation, is based on the selling price and includes inland freight, insurance, and othercharges to the port. Import value, defined generally as the market value in the foreign country, excludes import duties, ocean freight,and marine insurance.
Source.- Department of Agriculture.
364
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-98.—Balance sheet of the farm sector, 1939-84
[Billions of dollars]
End of year
1939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974 3
19751976197719781979
19801981198219831984"
Assets
Total
53.0
54.862.973.684.093.8
102.9115.9127.4134.6134.5
154.3170.1167.6164.5168.9
173.6182.7191.3208.4210.2
210.9219.3227.6235.7243.8
260.8274.2288.0302.8314.9
326.0351.8394.8478.6502.7
576.4664.3736.6873.2
1,015.3
1,108.31,111.11,082.01,061.4
955.8
Realestate
33.6
34.437.541.648.253.9
61.068.573.776.677.6
89.598.5
100.198.7
102.2
107.5115.7121.7131.1137.2
138.5144.5150.2158.6167.5
179.2189.1199.7209.2215.8
223.2239.6267.4327.8359.7
418.2496.4554.8654.7765.7
846.6846.7808.6798.0693.7
Live-stock1
5.1
5.37.19.69.79.0
9.711.913.314.412.9
17.119.514.811.711.2
10.611.013.917.715.2
15.616.417.315.914.5
17.619.018.820.223.5
23.727.334.142.424.5
29.429.031.951.361.4
60.653.553.049.749.6
Other physical assets
Machin-ery andmotor
vehicles
3.1
3.24.04.95.46.5
5.45.37.4
10.112.2
14.116.717.418.418.7
19.320.220.121.822.7
22.222.523.523.924.8
26.027.429.831.332.3
34.436.639.344.254.7
64.071.076.985.196.7
102.5108.8108.8105.899.4
Crops2
2.7
3.03.85.16.16.7
6.37.19.08.67.6
7.98.89.09.19.6
8.38.37.69.37.7
8.08.89.39.89.2
9.710.09.6
10.610.9
10.711.814.522.023.3
21.322.124.828.033.5
36.536.140.633.233.7
House-hold
equip-mentand
furnish-ings
4.2
4.14.84.84.75.2
5.57.28.18.98.4
9.610.19.59.59.7
10.09.69.69.49.2
8.78.98.88.88.4
8.48.38.89.49.6
10.010.811.912.311.2
11.712.113.716.017.2
19.420.823.024.426.1
Financial assets
Depos-its
andcur-
rency
3.2
3.54.25.46.67.9
9.410.29.99.69.1
9.19.49.49.49.4
9.59.49.5
10.09.2
8.78.89.29.29.6
10.010.310.911.511.9
12.413.114.014.914.0
14.514.815.115.515.9
16.216.717.418.219.8
U.S.savingsbonds
0.2
.4
.51.12.23.4
4.24.24.44.64.7
4.74.74.64.75.0
5.25.15.15.24.7
4.64.54.44.24.2
4.03.93.83.73.7
3.63.74.04.23.8
3.93.83.94.24.0
3.83.63.53.63.6
Invest-ments incooper-atives
0.8
.9
.91.01,11.2
1.41.51.71.92.1
2.32.52.72.83.0
3.23.43.73.94.2
4.54.85.05.45.6
5.96.26.56.87.2
8.08.89.8
10.911.4
13.414.915.418.320.8
22.824.827.228.529.8
Claims
Total
53.0
54.862.973.684.093.8
102.9115.9127.4134.6134.5
154.3170.1167.6164.5168.9
173.6182.7191.3208.4210.2
210.9219.3227.6235.7243.8
260.8274.2288.0302.8314.9
326.0351.8394.8478.6502.7
576.4664.3736.6873.2
1,015.3
1,108.31,111.11,082.01,061.4
955.8
Realestatedebt
6.6
6.56.46.05.44.9
4.84.95.15.35.6
6.16.77.27.78.2
9.09.8
10.411.112.1
12.813.915.216.818.9
21.223.125.127.429.2
30.332.235.139.544.7
49.755.363.571.685.6
95.8105.8110.0112.6111.6
Otherdebt
3.4
4.04.13.93.53.4
3.13.54.26.16.9
6.98.08.99.29.4
9.89.5
10.012.512.7
13.414.616.218.117.9
19.520.922.323.123.8
24.127.429.833.837.1
42.048.859.569.580.5
86.596.3
107.2103.6100.9
Propri-etors'
equities
43.0
44.352.463.775.185.4
95.0107.5118.1123.3122.1
141.2155.5151.5147.6151.2
154.8163.4170.8184.7185.4
184.7190.9196.2200.8207.0
220.1230.2240.6252.3261.9
271.5292.2330.0405.2420.9
484.7560.2613.6732.1849.3
926.0909.0864.8845.1743.3
1 Beginning with 1959, 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 1974, data are for farms included in the new farm definition, that is, places with sales of $1,000 or more annually.
Note.—Data include operator households. Beginning 1959, data include Alaska and Hawaii.
Source: Department of Agriculture.
365
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INTERNATIONAL STATISTICS
TABLE B-99.— U.S. international transactions, 1946-85
[Millions of dollars; quarterly data seasonally adjusted, except as noted. Credits ( + ), debits (-)]
Year orquarter
1946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1983:1IIIllIV
1984:111IllIV
1985:1III l l"
Merchandise * 2
Exports
11,76416,09713,26512,213
10,20314,24313,44912,41212,929
14,42417,55619,56216,41416,458
19,65020,10820,78122,27225,501
26,46129,31030,66633,62636,414
42,46943,31949,38171,41098,306
107,088114,745120,816142.054184,473
224,269237,085211,198201,712219,916
49,53549,04849,99253,137
53,46954,55655,64956,242
55,30253,62452,310
Imports
-5,067-5,973-7,557-6,874
-9,081-11,176-10,838-10,975-10,353
-11,527-12,803-13,291-12,952-15,310
-14,758-14,537-16,260-17,048-18,700
-21,510-25,493-26,866-32,991-35,807
-39,866-45,579-55,797-70,499
-103,811
-98,185-124,228-151,907-176,001-212,009
-249,749-265,063-247,642-268,928-334,023
-58,418-64,928-70,689-74,893
-78,091-84,181-84,626-87,127
-78,756-82,21-85,452
Net
6,69710,1245,7085,339
1,1223,0672,6111,4372,576
2,8974,7536,2713,4621,148
4,8925,5714,5215,2246,801
4,9513,8173,800
635607
2,603-2,260-6,416
911-5,505
8,903-9,483
-31,091-33,947-27,536
-25,480-27,978-36,444-67,216
-114,107
-8,883-15,880-20,697-21,756
-24,622-29,625-28,977-30,885
-23,454-28,58-33,14
Investment income3
eceipts
7721,1021,9211,831
2,0682,6332,7512,7362,929
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
72,50686,41184,76878,02387,609
17,93519,17220,98519,932
23,50220,89521,76921,445
18,86822,27924,039
Payments
-212-245-437-476
-559-583-555-624-582
-676-735-796-825
-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
-12,564-13,311-14,217-21,680-32,960
-42,120-52,329-55,273-52,621-68,500
-12,283-12,856-13,588-13,893
-15,268-17,277-18,513-17,442
-16,33-16,892-16,490
Net
560857
1,4841,355
1,5092,0502,1962,1122,347
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
12,78715,97517,96220,56531,172
30,38634,08229,49525,40219,109
5,6526,3167,3976,039
8,2343,6183,2564,00
2,535,387,54
Netmilitary:ransac-
tions
-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
-2,237-1,183
-318-162
-1,765
703-7
-126-669
-346-59-25-57
-21-58-48
Nettraveland
ranspor-tationeceipts
733946374230
-120298
83-238-269
-297-361-189-633-821
-964-978
-1,152-1,309-1,146
-1,280-1,331-1,750-1,548-1,763
-2,038-2,345-3,063-3,158-3,184
-2,812-2,558-3,565-3,573-2,935
-997144
-992-4,721-8,974
-448-1,116-1,422-1,735
-1,753-2,050-2,574-2,597
-2,35-3,054-3,02
Otherserv-ices,net3
310145175208
242254309307305
299447482486573
579594809960
1,041
1,3871,3651,6121,6301,833
2,1802,4952,7663,1843,986
4,5984,7115,2726,0135,735
7,2778,1218,3459,5579,791
2,2602,4622,2902,544
2,5822,4122,4522,344
2,412,572,62
Balanceon goods
andervices * 4
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
-9,894-10,321
4,659
8,95013,186
84-37,141-95,945
-716-8,289
-12,558-15,577
-15,905-26,238-26,093-27,710
-21,075-24,268-26,483
Remit-tances,
pensions,and otherunilateralransfers J
-2,922-2,625-4,525-5,638
-4,017-3,515-2,531-2,481-2,280
-2,498-2,423-2,345-2,361-2,448
-2,308-2,524-2,638-2,754-2,781
-2,854-2,932-3,125-2,952-2,994
-3,294-3,701-3,854-3,881
5 -7,186
-4,613-4,998-4,617-5,106-5,649
-7,077-6,847-8,135-8,852
-11,413
-1,606-1,875-2,204-3,166
-2,212-2,232-2,876-4,095
-3,17-3,42-3,96
Balanceon
currentac-
count 1 4
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
-14,511-15,427
-991
1,8736,339
-8,051-45,994
-107,358
-2,322-10,164-14,762-18,743
-18,117-28,470-28,969-31,805
-24,247-27,696-30,451
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.4 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, capital gains and losses, etc.), revisions, etc.
See next page for continuation of table.
366
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TABLE B-99.—U.S. international transactions, 1946-85—Continued
[Millions of dollars; quarterly data seasonally adjusted, except as noted]
Year orquarter
1946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966 . .196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1983- 1IItilIV
1984:1IIIllIV
1985:1III l l"
U.S. assets abroad, net[increase/capital outflow (-)]
Total
-4,099-5,538
4174-7,270
9560
-5,716-7,321-9,757
-10,977-11,585
-9,337-12,475-14,497-22,874-34,745
39,703-51,269-34,785-61,130-64,331
-86,118111 031
-119,218-55,045-20,447
-26,127-1,128-9,814
-17,976
-4,976-18,988
18,364-14,846
-365-2,455
9999
U.S.officialreserveassets *
-623-3,315-1,736
-266
1,758-33
-4151,256
480
182-86911652,2921,035
2,145607
1,535378171
1,22557053
-870-1,179
2,4812,349
-4158
-1,467
-849-2,558
-375732
-1,133
-8,155-5,175-4,965-1,196-3,131
78716
529953
-657566
-799-1,110
-233-356
121
OtherU.S.
Govern-mentassets
1 100-9101085
-1,6621680
1605-1,543
2423-2,274-2,200
-1,589-1,884-1,568-2,644
5 366
3,474-4,214-3,693-4,660-3,746
-5,162-5,097-6,131
5006-5,516
1 135-1,263-1,171
1436
-2,059-1,353-1,369
-734
-850-853-420
U.S.privateassets
5144-5,235
4623-5,986
8050
5336-6,347
7386-7,833-8,206
-10,229-12,940
12925-20,388-33,643
35,380-44,498-30,717-57,202-59,453
-72,802-100,758-108,122-48,843-11,800
24205119
-9,172-15,587
-2,260-17,070
20,532-13,003
718-1,246-9,458
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
58,11283,32294,44784,32297,319
15,15815,60819,53934,017
19,27741,592
3,14033,310
13,71126,31333,909
Foreignofficialassets
1,473765
1,2701,9861,660
134-6723,451-774
-1,301
6,90826,87910,4756,026
10,546
7,02717,69336,81633,67813665
15,4974,9603,6725,7953,424
1611,706
-2,6666,916
-2,786-224-6867,119
-11,2048,4652,415
Otherforeignassets
8211,939
6411,2311,983
6074,3333,928
10,70314,002
550-3,90910,98612,36223,696
8,64318,82614,50330,35852,416
42,61578,36290,77578,52693,895
15,31913,90222,20527,101
22,06341,816
3,82526,191
24,91517,84931,494
Alloca-tions ofspecialdrawingrights(SDRs)
867717710
l',139"
1,1521,093
Statisticaldiscrepancy
Total(sum of
the itemswith signreversed)
-1,019-989
-1,124-360
907
-458629205438
-1,516
-219-9,779
1879-2,654-1,458
5,91710,544
-2,02312,52125,431
24,98220,27632,82116,71730,486
13,291-4,316
5,0372,702
3,8165,8667,466
13,341
10,9013,8376,541
Of which:Seasonaladjust-ment
discrep-ancy
-68083
-2,9533,547
-455573
-3,2744,305
-384-570
-3,487
5 Includes extraordinary U.S. Government transactions with India.6 Consists of gold, special drawing rights, convertible currencies, and the U.S. reserve position in the International Monetary Fund
(IMF).
Note.—Quarterly data for U.S. official reserve assets and foreign assets in the United States are not seasonally adjusted.
Source: Department of Commerce, Bureau of Economic Analysis.
367
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TABLE B-100.—U.S. merchandise exports and imports by principal end-use category, 7963-85
[Billions of dollars; quarterly data seasonally adjusted]
Year orquarter
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1983:1III l lIV
1984:1III l lIV
1985:1I II I I " . .
Exports
Total
26.529.330.733.636.4
42.543.349.471.498.3
107.1114.71208142.1184.5
224.3237.1211.2201.7219.9
49.549.050.053.1
53.554.655.656.2
55.353.652.3
Agricul-tural
products
6.36.96.56.36.1
7.47.89.5
18.022.4
22.223.424329.935.6
42.244.037237.238.3
8.88.89.4
10.1
10.09.59.19.7
8.27.16.5
Nonagricultural products
Total
20.222.424.227.330.3
35.135.539.953.475.9
84.891.4965
112.2148.9
182.1193.11740164.5181.6
40.740.240.643.0
43.545.146.546.5
47.146.545.8
Indus-trial
suppliesandmate-rials
7.68.28.59.6
10.4
12.310.911.816.926.2
26.728.329733.751.8
64.963.357352.256.3
13.112.912.913.3
13.214.214.614.3
13.913.213.2
Capitalgoodsexcept
automo-tive
818.99.9
11.112.4
14.715.416.922.030.9
36.639.139846.558.8
74.281.673.768.973.7
17.416.817.017.7
17.718.218.619.2
19.318.818.7
Auto-motive
1.92.42.8353.9
3.94.75.57.08.8
10.812.213.515.718.4
17.519.817.418.722.3
4.14.64.65.3
5.55.45.85.6
6.06.26.4
Other
2.62.93.03.23.7
4.34.55.67.6
10.0
10.711.713516.219.8
25.428.325.624.829.2
6.25.96.16.6
7.17.37.57.4
8.08.37.4
Imports
Total
21.525.526.933.035.8
39.945.655.870.5
103.8
98.2124.21519176.0212.0
249.8265.1247.6268.9334.0
58.464.970.774.9
78.184.284.687.1
78.882.285.5
Petrole-um and
products
2.02.12.12.42.6
2.93.64.78.4
26.6
27.034.645.042.360.5
79.377.861.355.057.5
10.713.816.314.2
13.914.914.214.5
10.513.112.6
Nonpetroleum products
Total
19.523.424.830.633.2
36.941.951.162.177.2
71.289.7
106.9133.7151.5
170.5187.3186.4213.9276.5
47.751.254.460.7
64.269.270.472.7
68.369.172.9
Indus-trial
suppliesand
mate-rials
9.110.210.012.011.7
12.313.616.019.227.4
23.629.135.041.348.5
54.057.450.054.767.0
12.513.214.015.0
15.817.416.717.1
15.515.616.0
Capitalgoodsexcept
automo-tive
1 52.22.5283.4
4 04.35.98.39.8
10.212.314.019.725.0
31.236.738.343.161.2
9.29.8
11.112.9
13.814.916.016.5
15.314.816.0
Auto-motive
091.82.44.05.1
5.77.69.0
10.712.4
12.116.819.425.026.4
27.930.934.143.557.2
9.510.510.612.8
13.414.214.315.4
14.415.616.6
Other
8.09.29.9
11.813.0
15016.520.223.927.5
25.331.438.647.751.6
57.462.363.972.791.1
16.617.618.619.9
21.2??823.423.7
23.023.124.3
Note.—Data are on an international transactions basis and exclude military shipments.
Source-. Department of Commerce, Bureau of Economic Analysis.
368
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TABLE B-101.— £7.5". merchandise exports and imports by area, 1976-85
[Millions of dollars]
Item
Exports .
Industrial countries
CanadaJapan . .Western EuropeAustralia, New
Zealand, and SouthAfrica
Other countries, exceptEastern Europe
OPEC2
Other3
Eastern Europe
Internationalorganizations andunallocated
Imports
Industrial countries .
CanadaJapanWestern EuropeAustralia, New
Zealand, and SouthAfrica
Other countries, exceptEastern Europe
OPEC2
Other 3
Eastern Europe
Internationalorganizations andunallocated
1976
114,745
72,335
263361019631,883
3920
38287
11,56126,726
4,123
124,228
67665
26,65215,53123,003
2479
55379
27,40927970
875
309
1977
120,816
76,970
2853310,56634,094
3777
40951
1287728,074
2895
151,907
79,447
29,8641856528,226
2792
70679
35,77834901
1,127
654
1978
142,054
87,948
3122912,96039,546
4213
50213
14,84635,367
3,893
176,001
99,344
33,7562454036,608
4440
74397
- 33,28641 111
1,508
752
1979
184,473
115,930
3869017,62954,177
5,434
62630
14,55648,074
5,913
212,009
112,797
39,22726,26041,817
5493
96131
45,03951092
1,896
1185
1980
224,269
137,152
4162620,80667,603
7,117
82941
17,36865,573
4143
33
249,749
127,884
42,90131,21647,235
6532
119 135
55,60263533
1444
1287
1981
237 085
141,900
460162179665,108
8980
90657
21,09769,560
4440
88
265,063
144 322
48,2533759752,864
5608
119 188
4993469254
1553
1982
211,198
127,254
3920320,69459,701
7656
80130
20,65159,479
3749
65
247,642
144 139
48,5233768352,900
5033
102 414
3151770897
1066
23
1983
201,712
128,202
4437421,78955,434
6,604
70140
15,25654,884
2988
383
268,925
159 920
56,0104284555,624
5444
107 592
2528382309
1413
1984
219,916
141,021
5306723,24056,866
7849
74214
13,77160,443
4,290
390
334,023
207 127
69,2296021172,054
5633
124 679
2685297827
2,217
1985 first3 quartersat annual
rate1
214,981
140,017
55,16922,23655,556
7,056
71332
11,56459,768
3,153
479
328,559
212713
70,1356298573,979
5619
114 041
2083693205
1800
1 Preliminary; seasonally adjusted.2 Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.3 Latin American Republics, other Western Hemisphere, and other countries in Asia and Africa, less members of OPEC.Note.—Data are on an international transactions basis and exclude military.Source: Department of Commerce, Bureau of Economic Analysis.
369
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TABLE B-102.— U.S. merchandise exports and imports by commodity groups, 7966-85
[Millions of dollars; monthly data seasonally adjusted]
Year ormonth
196619671968196919701971197219731974
1974*....1975* ....1976*....1977* ....1978*....1979*....1980
19811982198319841984:
Jan....Feb....Mar...Apr....May...June..July . .Aug. .Sept.Oct...Nov..Dec..
1985:Jan...Feb...Mar..Apr...May..June.July..Aug..Sept.Oct...Nov..
Merchandise exports
domes-tic andforeignxports l
Domestic exports
Total12Food,bever-ages,and
tobacco
Crudemateri-als andfuels3
Manu-facturedgoods4
F.a.s. value7
29,49031,03034,06337,33242,65943,54949,19970,82397,998
98,092107,652115,223121,232143,681181,860220,630
233,677212,193200,486217,865
17,88917,20817,90617,52017,97817,70519,15418,12318,21018,41118,39519,142
19,40117,85318,44617,77917,41417,43817,41217,42317,73217,36817,976
29,05430,64633,62636,78842,02542,91148,39969,73096,634
96,679106,161113,549119,024141,142178,633216,515
228,899207,076195,917212,034
17,41016,78217,39017,07117,49317,25018,67517,66517,70917,88617,85718,623
18,85217,35817,88117,29816,89316,85816,85716,94517,24116,87217,482
5,1864,7104,5924,4465,0585,0766,56912,93815,233
15,23316,79317,23415,96320,60424,58730,407
33,20626,97726,97927,312
2,3582,1702,4772,1512,1501,8802,1552,1312,5862,3362,5062,413
2,1611,9951,9731,9131,6031,6141,6041,7831,7091,8362,128
4,4044,7264,8655,0066,6926,4417,09110,73515,802
15,80215,19716,09518,57920,95728,22233,719
33,02233,51829,55531,482
2,5412,4272,8062,5752,8182,6442,7332,6092,4402,3522,4542,988
2,5622,5422,3862,3362,1642,1812,2652,4362,3692,3382,368
19,21820,84423,81826,78529,34430,44333,74044,73163,523
63,52370,95177,24180,15194,473116,587143,891
154,283139,716132,409143,142
11,82611,40711,29011,54111,68411,83412,74611,85411,94612,32912,14812,409
13,28211,96712,53812,14112,16612,12712,01011,89412,14511,79912,134
Merchandise imports
General imports5
Total2Food,bever-ages,and
tobacco
Crudemateri-als andfuels3
Manu-facturedgoods4
Customs value
25,61826,88933,22636,04339,95145,56355,58369,476101,394
4,5904,7015,3655,3086,2306,4047,3799,23510,701
5,7185,3676,0316,3916,5427,2688,83813,44631,842
14,44615,75620,62423,01125,90730,41437,76745,00156,202
F.a.s. value 7
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
260,982243,952258,048325,726
26,20526,42026,94828,07426,01225,27631,33426,86628,40926,78327,33125,933
28,29727,98528,12928,29528,68529,42526,63026,08331,76427,59430,285
18,35017,81718,81921,626
1,7591,7731,8652,0281,7611,5762,0021,7111,8031,9241,7051,719
1,9321,8172,1281,8041,9191,9121,6411,7191,9031,5981,865
92,87374,40468,03772,758
6,0606,1066,2916,6185,6486,0496,4975,8155,7556,1066,1585,689
5,3734,9884,3725,7645,6095,9585,1004,8425,5735,6595,656
142,475144,022163,449221,515
17,56917,85718,02218,48917,81516,83121,82418,59820,02718,03718,49917,777
19,87920,34720,7161981220,19820,65318,9018,7623,2919,43221,833
Total,c.i.f.value6
28,74535,32038,24142,42948,34258,86273,573108,392
110,875105,880132,498160,411186,045222,228256,984
273,352254,885269,878341,177
27,39727,58728,17829,40127,26226,46132,92528,21329,75328,06428,61727,176
29,68729,29929,49229,62930,08030,85327,92027,32733,28228,8231,65
Merchandise trade balance
Exportsless
imports,customsvalue
38724,141837
1,2892,708
-2,014-6,3841,348
-3,396
-27,305-31,759-57,562107 861
-8,316-9,212-9,043-10,553
8 034-7,571-12,180-8,743-10,200-8,372-8,9376791
8896-10,131-9,68310516
-11,271-11,987-9,219-8,660-14,032-10,226-12,310
Exportsless
imports,f.a.s.
44679,1498254
-29,158-31,076-27,599-24,241
Exportsless
imports,c.i.f.
2,283-1,257-909230
-4,793-9,6632,752
-10,395
127831,77217274
-39,179-42,364-40,368-36,354
-39,675-42,691-69,392123 312
-9,508-10,37910,272
-11,8809284
-8,75513,771
-10,090-11,543-9,653-10,222-8,033
-10,285-11,446-11,046-11,850-12,666-13,415-10,509
9904-15,550-11,453-13,682
1 Department of Defense shipments of grant-aid military supplies and equipment under the Military Assistance Program are excludedfrom total exports.
2 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.5 Total arrivals of imported goods other than intransit shipments.6 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 beginning 1980 include trade of the U.S. Virgin Isjands, except that for 1980 Virgin Islands exports are reflected only in the figuresfor 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).
370
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TABLE B-103.—International investment position of the United States at year-end, 1977-84
[Billions of dollars]
Type of investment
Net international investment position of the United States...
U S assets abroad
U S official reserve assets
GoldSpecial drawing rightsReserve position m the International Monetary
FundForeign currencies
Other U.S. Government assets, other than officialreserve assets
U S loans and other long-term assetsRepayable in dollarsOther
U.S. foreign currency holdings and U.S. short-term assets
U.S. private assets
Direct investment abroadForeign securities
BondsCorporate stocks
U.S. claims on unaffiliated foreigners reportedby U S nonbanking concerns
U.S. claims reported by U.S. banks, not includedelsewhere
Foreign assets in the United States
Foreign official assets in the United States
U S Government securitiesU S Teasury securitiesOther
Other U S. Government liabilitiesU.S. liabilities reported by U.S. banks, not in-
cluded elsewhere. ..Other foreign official assets
Other foreign assets in the United States
Direct investment in the United StatesU S Treasury securitiesU.S. securities other than U.S. Treasury securi-
tiesCorporate and othe: 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
1977
72.7
3791
193
1172.6
49.0
495
47745.226
18
310.2
146.049439.310.1
22.3
926
3064
1409
1054101.1
4310.3
1807.2
165.5
34.676
512115398
11.9
602
1978
76.1
4478
18.7
1171.6
1.04.4
54.2
52349.824
19
375.0
162.753442.111.2
28.1
1308
3717
1731
1285124.0
45127
2338.5
198.7
42.589
53611542 1
16.0
777
1979
94.5
5106
19.0
1122.7
1.33.8
58.4
56.554.124
19
433.2
187.956842.014.8
31.5
1570
4161
1599
1066101.7
49127
3059.9
256.3
54.5142
586103483
18.7
1103
1980
106.0
6069
26.8
11226
2910.1
635
61859.622
17
516.6
215.462743519.2
34.7
2039
5008
1761
1182111.3
69134
30414.1
324.8
83.0161
74 195
646
30.4
121 1
1981
140.7
7197
301
11241
519.8
684
67064.723
14
621.2
228.363545817.7
35.9
2935
5790
1804
1251117.0
81130
26715.5
398.6
108.7185
754107646
30.6
1654
1982
147.0
8390
340
11 153
7 310.2
743
72770.720
17
730.7
221.875756.719.0
28.6
4046
6920
1892
1326124.9
77137
25017.9
502.8
124.7258
936168768
275
2313
1983
106.2
8938
337
11 150
11.36.3
79.2
77.675.719
17
780.8
227.084357.726.6
35.1
434.5
787.6
194.5
1370129.7
7314.3
25517.7
593.1
137.1339
1147175973
26.8
2806
1984
28.2
9147
349
11 15.6
11.56.7
84.6
82.780.818
20
795.1
233.489962.027.9
28.8
4430
8864
1990
1429135.4
76147
26215.2
687.4
159.6569
1282323959
30.5
3123
Source.- Department of Commerce, Bureau of Economic Analysis.
371
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TABLE B-104.—International reserves, selected years, 1952-85
[Millions of SDRs; end of period]
Area and country
All countries
Industrial countries
United StatesCanadaAustraliaJapanNew Zealand
Austria . . .BelgiumDenmarkFinland.France
GermanyIcelandIrelandItalyNetherlands
NorwaySpainSwedenSwitzerlandUnited Kingdom
Developing countries-. TotalBy area:
AfricaAsia .EuropeMiddle EastWestern Hemisphere
Memo:Oil-exporting countriesNon-oil developing countries
1952
49,388
38582
247141944
9201 101
183
1161,133
150132686
9608
318722953
164134504
1,6671,956
10,272
1,7863,721
9661 1832 616
1 fiQQ
8 573
1962
62,851
52535
1722025611,1682021
251
10811,753
256237
4,049
695832
3594,0681943
3041045
8022,9193308
10202
2,1102,658134818052 282
o nqn
8 172
1972
147,323
110 282
1211255725,656
16,916767
25053,564
787664
9,224
2190878
10385,6054,407
1,2204,61814536,9615,201
36,083
3,9627,171642594369089q qce
26 127
1981
363,400
212 693
2550237171,713
25,083580
52795,4512,2461319
21,991
40892199
229019,6319,562
5,41497943306
14,92513,757
144,377
10,94731,728
7,8445981934040cq oqi74986
1982
360,807
211918
2991834286,053
22001577
55444,7572,1111420
17,850
43909133
239015,10710723
6,2737,4503397
16,93011,904
141,023
7,64236,7127016
6409425 560
67 1fi3
73 860
1983
393,947
232 234
3083140168,838
24346744
50525,69935151227
21,826
44092144
253421,28411253
6,37375814065
17,27511,496
150,241
7,30444,5448154
6225427 986e7 onnQO n/o
1984
436,430
252 033
3351732467,869
278111824
50705,85331272854
24227
44282132
24122354910961
9596127094 135
18,52010297
168 261
7,13550,3669702
5948341 574
cq dciQO orjq
1985
Novem-ber
430,131
251 439
3824631105,834
250541494
46445,56452343681
24,478
43918163
304218,63811 136
12,787114213493
16,82412635
160 238
7,74746,048105245991336 005
70 T71
89 866
Note.—International reserves is comprised of monetary authorities' holdings of gold (at SDR 35 per ounce), special drawing rights(SDRs), reserve positions in the International Monetary Fund, and foreign exchange. Data exclude U.S.S.R., other Eastern Europeancountries, and Cuba (after 1960).
U.S. dollars per SDR (end of period) are: 1952 and 1962—1.00000; 1972—1.08571; 1979—1.31733; 1980—1.27541; 1981—1.16396; 1982-1.10311; 1983-1.04695; 1984-.98021; and November 1985-1.09319.
Source: International Monetary Fund, "International Financial Statistics."
372
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TABLE B-105.—Exchange rates, 1967-85
[Cents per unit of foreign currency, except as noted]
Period
March 1973
196719681969
19701971197219731974
19751976197719781979
1980198119821983 . .1984
1985
1984-1IIHIIV
1985-IIIIllIV
March 1973
196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985
1984- 1||IIIIV
1985:1IIIllIV
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
1.6968
1.81191.80951.69501.6230
1.53151.60831.73991.9074
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
30.370
32.86532.73830.36529.011
27.17428.68531.25334.367
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
73.226
79.66377.36676.11175.837
73.87573.01373.52472.493
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
11.672
12.55612.49211.88711.477
10.78911.17911.92312.796
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
11.220
12.06012.00411.16010.673
10.05010.61611.52912.686
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
41.058
45.52544.51440.93839.726
36.33238.56542.48146.856
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
34.247
37.05236.89134.25132.726
30.72832.38035.16238.719
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
129.56
143.50139.58129.65121.50
111.52125.56137.63143.53
Italian lira
0.17604
.16022
.16042
.15940
.15945
.16174
.17132
.17192
.15372
.15328
.12044
.11328
.11782
.12035
.11694
.08842
.07411
.06605
.05708
.05255
.06019
.05967
.05558
.05288
.04949
.05074
.05285
.05713
Japanese yen
0.38190
.27613
.27735
.27903
.27921
.28779
.32995
.36915
.34302
.33705
.33741
.37342
.47981
.45834
.44311
.45432
.40284
.42128
.42139
.42248
.43326
.43539
.41055
.40635
.38837
.39874
.41977
.48302
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
87.4102.9116.6125.3138.3
143.2
131.6132.8141.7147.2
156.5149.1139.2128.2
Real1
100.0
98.899.2
93.997.393.184.283.2
84.8100.8111.7117.3128.5
132.0
122.2123.1132.0136.5
144.2137.0128.5118.3
1 Adjusted by changes in consumer prices.Source.- Board of Governors of the Federal Reserve System.
373
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TABLE B-106.—World trade: Exports and imports, 1965, 1970, 1975, and 1981-85
[Billions of U.S. dollars]
Area and country
Developed countries 3
United StatesCanada ... . . .Japan
European Community 4
FranceWest GermanyItalyUnited Kingdom
Other developed countries
Developing countries
OPEC5
Other
Communist countries 6
U S S REastern EuropeChina
TOTAL -.
Developed countries 3
United StatesCanadaJapan
European Community 4
FranceWest GermanyItalyUnited Kingdom
Other developed countries
Developing countries
OPEC5
Other
Communist countries 6
U S S REastern EuropeChina . . .
TOTAL .
1965
1313
2758.48.4
65.1
10.217.97.2
13.8
219
338
10323.5
232
8211.82.0
188.3
1387
2328.782
705
1041767.4
16.1
28.1
35.2
6.428.8
22.5
8011.618
196.4
1970
2265
43216.719.3
113.3
18.134.213.219.4
340
509
16934.0
349
12818.22.2
312.3
2379
42714.2189
1186
19129915021.9
435
514
9.941.5
34.1
11718.52 2
3234
1975
5849
108134.155.8
299.6
53.190.234.843.4
87.3
2030
111791.3
90.3
33445.3
7.1
878.2
6185
105936.2579
3066
54074938553.3
1119
180.2
52.1128.1
100.8
37151.374
8995
1981
12593
233772.7
151.5
612.4
106.4176.175.3
102.2
189.0
5319
2735258.4
205.2
79483.821.5
1,996.4
13613
273370.3
1429
6453
1209163991.0
102.7
2295
485.5
156.1329.4
200.1
73287.5194
20469
1982
Exports, f.o.b
11952
212371.2
138.4
590.0
96.7176.473.597.0
183.3
461.4
214.9246.5
223.9
87.291.422.9
1,880.5
Imports, c.i.
1 279.7
254958.4
1315
6154
1157155486.299.7
219.5
467.3
171.4295.9
203.1
77887.1179
1,950 1
1983
.2
1 1804
200576.5
147.0
574.4
94.9169.4
72.791.6
1820
4328
1759256.9
2354
91796.723.5
1,848.6
.7
12570
269965.1
1264
5907
1054152.980.4
100.1
2049
429.5
145.6283.9
213.1
80491.7197
18996
1984
12562
217990.3
169.7
584.5
97.6171.773.393.8
1938
4581
1704287.7
2444
915101.1
27.4
1,958.7
13668
341 278.5
1362
5992
1037153.0
84.2104.9
2117
424.2
132.8291.4
224.4
80494.9267
20154
1985 !
13127
214193.2
176.5
616.6
100.01841
77.01006
2123
4283
1415286.8
2564
1000102828.0
1,997.4
14420
3579824
1369
6293
1066160.3928
109.1
2355
4101
116.92932
258.9
970973387
2 1110
1 Preliminary estimates.2 Free-on-board ship value.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, and
Venezuela.6 Includes North Korea, Vietnam, Albania, Cuba, Mongolia, and Yugoslavia, not shown separately.7 Cost, insurance, and freight value, except Eastern Europe (except 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.
374
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TABLE B-107.— World trade balance and current account balances, 7963, 7970, 7975, and 79S7-&5
[Billions of U.S. dollars]
Area and country
Developed countries3
United StatesCanadaJaoan
European Community4
FranceWest GermanyItalyUnited Kingdom
Other developed countries
Developing countries
OPEC5
Other
Communist countries 6
U S S REastern EuropeChina
TOTAL7
Developed countries3
United StatesCanadaJapan
European Community4
FranceWest GermanyItalyUnited Kingdom
Other developed countries ....
Developing countries
OPEC5
Other
Communist countries9
U.S.S.REastern EuropeChina
TOTAL
1965 1970 1975 1981 1982 1983 1984 1985 '
World trade balance2
-7.4
4.3-.3
-5.4
-.2.3
-.223
-6.2
-1.4
3.953
.7
.2
.2
.2
81
-11.4
.52.5
.4
-5.3
-1.04.3
-1.825
-9.5
-.5
7.075
.8
1.1-.3
.0
11 1
-33.6
2.2-2.1
2 1
-7.0
-.915.3
-3.799
-24.6
22.8
59.6368
105
-3.7-6.0
3
-21.3
-102.0
3962.48.6
-32.9
-14.512.2
-15.7
-40.5
46.4
117.4710
5.1
6.2-3.7
2.1
505
-84.5
42612.86.9
-25.4
-19.021.0
-12.7-2.7
-36.2
-5.9
43.5494
20.8
9.44.35.0
696
-76.6
69411.420.6
-16.3
-10.516.5
-7.785
-22.9
3.3
30.3-27.0
22.3
11.35.03.8
510
-110.6
123311.833.5
-14.7
-6.118.7
-10.911 1
-17.9
33.9
37.637
20.0
11.16.2
.7
567
-129.3
-143.810.839.6
-12.7
-6.623.8
-15.8-8.5
-23.2
18.2
24.664
25
3.05.5
-10.7
1136
Current account balances 8
3.2
5.4-1.0
.9
.8
162.2-.1
-2.9
-.2
4.7
2.31.12.0
2.8
.1
.9
.82.0
-3.5
-8.5
580
-.8
.18
-.1
46
0.1
18.1-4.77
3.3
2.74.0-.6
-3.3
-15.9
2.3
27.0-24.7
-11.1
-4.664
— 1
87
-31.2
6.3-5.1
4.8
-12.2
-4.7-5.5-8.113.1
-25.0
-30.2
46.6-76.8
6
-.2373.3
620
-32.7
802.26.8
-11.1
-12.13.4
-5.58.1
-22.6
-79.2
186-60.6
13.8
4.31.77.8
-98.1
-25.0
4081.4
20.8
4.5
-4.44.1.8
4.8
-10.9
-55.1
205-34.6
13.9
4.73.85.4
662
-66.3
10152.0
35.0
3.8
-.86.3
-3.01.2
-5.6
-36.4
-18.1-18.3
10.5
4.54.02.0
-92.2
536
1099.0
47.5
11.7
.712.7
-7.24.2
-2.9
-53.0
-26.0-27.0
.01.5
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.6 Includes North Korea, Vietnam, Albania, Cuba, Mongolia, and Yugoslavia, not shown separately.7 Asymmetries arise in global payments aggregations because of discrepancies in coverage, classification, timing, and valuation in therecording of transactions by the countries involved and because freight charges are attributed to the cost of imports.
«OECD basis.9 Includes only countries listed.Sources-. International Monetary Fund, Organization for Economic Cooperation and Development, and Council of Economic Advisers.
375
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-108.—Industrial production and consumer prices, major industrial countries, 1960-85
Year or quarter
I960196119621963196419651966196719681969
1970197119721973197419751976197719781979
198019811982198319841985"
1984:1III I IIV
1985- 1III l lIV
1960196119621963196419651966196719681969
19701971 .19721973197419751976197719781979
198019811982198319841985
1984:1III I IIV
1985:1IIIllIV
UnitedStates Canada Japan
EuropeanCommu-
nity1France West
Germany Italy UnitedKingdom
Industrial production ( 1977 = 100) 2
48.849.153.256.360.166.172.073.577.681.2
78.579.687.394.493.084.892.6
100.0106.5110.7
108.6111.0103.1109.2121.8124.5
119.3121.5123.4123.1
123.8124.2124.8125.2
41.350.046.649.654.158.763.065.569.774.5
75.579.685.694.797.791.997.5
100.0103.3109.7
108.1108.697.9
102.8111.8
109.6110.5113.9113.8
114.0115.3118.4
18.327.129.232.537.739.244.252.860.870.4
80.182.386.899.096.786.596.1
100.0106.4113.9
119.2120.4120.9125.1138.9
134.2137.5139.9143.5
142.6146.2146.5
51.253.555.758.162.364.967.468.573.680.5
84.586.490.296.897.591.097.7
100.0102.3107.4
106.7104.2102.6103.5106.5
106.4104.3107.7107.5
108.5109.6110.3
44475056606164666875
79848895989198
100102107
106106104105106
107105107106
106106106
51.654.556.658.263.366.967.565.571.580.6
85.887.590.896.796.490.598.7
100.0102.6107.4
107.6105.7102.7103.4106.8
106.9102.5108.7110.3
110.8112.1114.2
40.845.149.654.056.158.765.670.774.877.6
82.682.286.294.598.389.6
100.0100.0101.9108.8
114.4112.6109.2105.6109.2
108.0108.6110.5108.6
110.5110.9110.1
67.567.868.470.776.478.679.880.486.589.5
89.989.591.199.297.392.195.1
100.0103.0106.9
99.896.498.2
101.7102.9
104.1102.2102.2103.3
105.8108.0107.6
Consumer prices (1967 = 100)
88.789.690.691.792.994.597.2
100.0104.2109.8
116.3121.3125.3133.1147.7161.2170.5181.5195.4217.4
246.8272.4289.1298.4311.1322.2
306.4309.7313.1315.4
317.4321.2323.6326.5
85.986.787.789.290.993.196.5
100.0104.0108.8
112.4115.6121.2130.3144.5160.1172.1185.9202.5221.0
243.5273.9303.5321.0335.0348.2
330.7333.6336.7339.0
343.0346.8350.0353.2
68.371.876.782.585.891.696.3
100.0105.3110.9
119.3126.5132.3147.9184.0205.8224.9243.0252.3261.3
282.3296.2304.1309.7316.6
313.9316.6316.0319.9
320.1322.9322.8
79.281.284.387.690.794.197.5
100.0103.7107.9
113.2120.2127.5138.2156.2176.7195.2214.3229.2250.0
280.9312.1343.3368.3390.7
383.1389.3393.0398.0
404.2411.8414.0
3 78.03 80.6
85.489.592.594.897.4
100.0104.5111.3
117.1123.5131.1140.7160.0178.9196.1214.5233.9259.1
294.2332.7373.1407.9439.5
428.1436.1443.7450.2
456.1464.4468.7
82.984.887.489.992.095.098.4
100.0101.6103.5
107.1112.7119.0127.2136.1144.2150.5156.0160.2166.9
175.8186.9196.8203.3208.2
207.0208.0208.0209.6
211.8213.1212.6
74.175.779.285.190.194.296.4
100.0101.4104.1
109.2114.4121.0134.0159.7186.8218.1255.2286.2328.5
398.0472.4549.4631.8698.8
684.9699.6709.0724.7
743.5760.4768.7
79.081.685.186.889.693.997.6
100.0104.8110.3
117.4128.5137.7150.2174.3216.5252.4292.4316.6359.0
423.6473.9514.7538.3565.1
552.5563.7568.6575.6
582.9602.9604.5
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.
2 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).
376
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-109.—Civilian unemployment rate, and hourly compensation, major industrialcountries, 7960-83
[Quarterly data seasonally adjusted]
Year or quarter
I9601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
198019811982 . . .19831984 . . .
1985
1984-1IIIllIV
1985: IIII l lIV
I96019611962 .. ..19631964
19651966196719681969
1970197119721973 . . . .1974
19751976197719781979
19801981198219831984
1985
UnitedStates Canada Japan France West
Germany Italy UnitedKingdom
Civilian unemployment rate (percent) 1
5.56.75.55.75.2
4.53.83.83.63.5
4.95.95.64.95.6
8.57.77.16.15.8
7.17.69.79.67.5
7.2
7.97.57.47.2
7.37.37.27.0
6.56.75.55.24.4
3.63.43.84.54.4
5.76.26.25.55.3
6.97.18.18.37.4
7.57.5
11.011.911.3
10.5
11.411.411.211.1
11.110.610.310.2
1.71.51.31.31.2
1.21.41.31.21.1
1.21.31.41.31.4
1.92.02.02.32.1
2.02.22.42.72.8
2.82.72.82.7
2.62.62.5
1.61.41.31.21.3
1.41.71.82.42.2
2.52.72.82.72.8
4.24.54.85.36.1
6.47.58.48.6
10.1
9.610.110.310.4
10.510.510.5
1.1.6.6.5.4
.3
.31.31.1.6
.5
.6
.7
.71.6
3.43.43.53.43.0
2.94.15.97.57.8
7.87.97.97.8
7.98.07.9
3.22.82.52.12.4
3.03.33.03.13.1
2.82.93.43.22.8
3.03.43.63.73.9
3.94.34.85.35.9
61
6.06.05.85.8
5.95.96.26.3
2.01.82.63.22.3
2.02.13.13.12.9
3.03.84.13.13.0
4.55.96.36.25.3
6.810.411.812.813.0
12.812.913.213.0
13.113.313.5
Manufacturing hourly compensation ( 1977 = 100) 2
36.537.539.040.241.8
42.744.646.850.253.7
57.360.864.268.876.2
85.192.1
100.0108.2118.6
132.4145.2157.5163.2169.1
176.5
29.729.228.429.230.3
31.834.436.939.742.7
47.452.757.662.874.4
81.796.9
100.099.5
107.3
118.7134.3143.9153.9148.8
6.67.78.89.8
11.0
12.413.615.317.921.3
25.430.340.155.067.1
77.182.3
100.0136.1138.5
143.8158.0147.2159.5164.7
15.116.718.520.121.9
23.725.126.930.330.8
32.436.844.257.763.3
87.991.4
100.0124.2149.9
172.5154.8151.4146.7139.3
10.512.213.914.816.1
17.619.120.221.724.2
30.635.943.559.369.3
80.284.3
100.0124.7146.2
159.8137.8134.7133.4124.1
11.913.115.518.320.4
21.822.825.427.130.7
36.843.152.366.474.0
95.089.5
100.0119.1143.1
165.3152.8154.7161.0153.8
23.925.626.928.129.9
32.835.536.033.636.6
42.450.057.663.276.7
95.692.0
100.0128.4166.8
217.0215.3202.1187.9178.7
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 laborcosts to employers.
Source: Department of Labor, Bureau of Labor Statistics.
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TABLE B-110.— Growth rates in real gross national product, 1961-85
[Percent change]
Area and country
Developed countries 2
United StatesCanada . .Japan
European Community 4
FranceWest GermanyItalyUnited Kingdom
Developing countries
Communist countries 5
U.S.S.REastern EuropeChina
1961-65annualaverage
52
465.7
100
4.7
5.8505.232
63
44
5.039-.2
1966-70annualaverage
48
304.7
113
4.4
5.4426.225
67
50
5.3388.3
1971-75annualaverage
37
2 25.046
2.7
4.0212.421
70
4 2
3.7495.5
1976-80annualaverage
32
343.351
3.0
3.3343.816
56
28
2.6199.0
1981
04
194.04 2
-.2
.52.2
-14
14
20
1.9-10
4.9
1982
01
-25-4.3
31
.5
1.8- 6-.515
9
26
2.5108.3
1983
05
352.833
1.2
.712
-.434
4
36
3.6169.1
1984
09
655.458
2.1
1.3262.618
30
32
2.031
12.0
1985 1
(3)
234050
2.2
1.0222.232
(3)
36
3.018
12.0
1 Preliminary estimates.2 Includes the OECD countries, Israel, South Africa, and non-OECD Europe.3 Not available.4 Includes Belgium-Luxembourg, Denmark, Greece, Ireland, and the Netherlands, not shown separately.5 Includes North Korea and Yugoslavia, not shown separately.
Sources: Department of Commerce, International Monetary Fund, Organization for Economic Cooperation and Development (OECD), andCouncil of Economic Advisers.
o
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