SCB_091989

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

September 1989 /Volume 69 Number

SURVEY OF CURRENT BUSINESS

N^TESO*

U.S*;;J5epari;ffi0]at

Michael E»

^ ' < - •' Managing ]$$t0rt; L&lg&dju. Seotl

^L. Bic Le^ $1 fBmsii^Ba&d&$^v£^

-„ Ibe<ra!t»; ^ ?&*&» Charles"

~ :istibicM|?l|0|3t:- , ..... $e0&nd«£l®s$ '• , mail- —• 4a8;^4i«aii^' "$43i<)f}^Sit lf d^^^^^&i&g^; , - - Mail sn&cidptiou, l>ri§rs;ai ia<idrfss changes tothe fepeyfotep4^J^;^^^ '

^^]&f^s^^ DC' £0401' payable; "^ &4:BiipfMntîiênt of' ' ' ' ' ' '"

, , ,that ife piiijlicatloii of tMs |>0iflodfeali

1 Business Situation1 Corporate Profits

3 National Income and Product Accounts Tables3 Selected NIPA Tables

17 Reconciliation and Other Special Tables

18 Composite Indexes of Leading, Coincident, andLagging Indicators

19 Federal Personal Income Tax Liabilities and Payments:Revised and Updated Estimates, 1986-87

21 Capital Expenditures by Majority-Owned Foreign Affiliatesof U.S. Companies, 1990

28 U.S. International Transactions, Second Quarter 1989

53 Summary National Income and Product Series:Annually, 1929-88, and Quarterly, 1960-8*8

61 Constant-Dollar Inventories, Sales, and Inventory-SalesRatios for Manufacturing and Trade:Revised Estimates, 1986:1-1989:11

NORWICH LIBRARY

DEPOSITORY ITEM01Z8

DATE RECEIVEDOCT."2 6 1989SUPT, DOC. N'O.C^, V\;bc1

Blue pages: Current Business Statistics(See page S-36 for subject index to Current Business Statistics)

Inside back cover: BEA Information

theincorporates data from the following monthly B1A ntiWJjr ,rfl0#$e|£'

aii


the BUSINESS SITUATION

Corporate Profits

X ROFITS from current productiondeclined $8^2 billion in the secondquarter after a much sharper declinein the first (table I).1 Profits beforetax (PBT) registered the opposite pat-tern of decline—a $22 billion drop inthe second quarter after only a smalldecline in the first.

The current-production measure ofprofits includes two adjustments thatare not included in PBT—namely, theinventory valuation adjustment (IVA)and the capital consumption adjust-

1. Quarterly estimates in the national income andproduct accounts are expressed at seasonally adjustedannual rates, and quarterly changes are differences be-tween these rates.

Table 1.—Corporate Profits

Profits from current productionDomestic ,...

FinancialNonfinancial

Rest of the world

Inventory valuation adjustmentCapital consumption adjustmentProfits before tax .

Profits tax liabilityProfits after tax

Profits by industry:Profits before tax with IVA

FinancialNonfinancial , ..... .

TradeTransportation and public utilities ....Other .. .

Rest of the worldReceipts (inflows)

Unit prices, costs, and profits of domesticnonfinancial corporations:

Unit labor costUnit nonlabor costUnit profits from current production

Change frompreceding

quarter

1989:1 1989:11

Level

1989:11

Billions of dollars

-23.9-24.0-1.1

-22.9.1

-18.2-4.9

— 81.2

-2.0

-19.0-19.1

-.8-18.2-9.0-7.7-1.9

.4

.11.1.9

-8.5-5.5

— 8-4'.8-3.0

17.8-4.3

-22.0-9.5

-12.5

-4.2-1.2-.7-.7

-6.22.8-.83,5

-3.0-1.7

1.3

307.8264.233.6

230.543.6

-20.532.3

296.0134.9161.1

275.5231.9

28.6203.290.336.940.835.243.659.916.3

Dollars

0.008.012.005

-.009

0.012.010.005

-.003

1.168.778.297.093

ment (CCAdj); these adjustments con-vert the inventories and depreciationreported by business to those used inthe national income and product ac-counts (NIPA's). The IVA increased$18 billion in the second quarter af-ter a decline of the same amount inthe first; the CCAdj declined by about$4^2 billion in both quarters. Thesecond-quarter increase in the IVA—or, equivalently, the decline in inven-tory profits—resulted from a slowdownin the rate of increase of inventoryprices. For example, the ProducerPrice Index, the components of whichare a major source of data on inventoryprices, increased 6^2 percent (annualrate) in the second quarter, following a9x/2-percent increase in the first.

Domestic nonfinancial corporationsaccounted for about one-half of thesecond-quarter drop in profits fromcurrent production. Real product ofthese corporations increased slightly,but unit profits from current produc-tion fell. The decline in unit profits re-flected a smaller increase in unit prices

than in unit costs; both labor and non-labor unit costs increased.

Profits by industry.—Current-production measures of profits are notavailable by industry; PBT with IVAis the best measure of industry prof-its. For nonfinancial corporations, thismeasure declined $^2 billion in the sec-ond quarter after an $18 billion declinein the first. The second-quarter de-cline was more than accounted for bymanufacturing. Profits of motor ve-hicle manufacturers turned negative;the drop partly reflected the costs ofsales incentive programs. Profits offood manufacturers declined from thehigh levels of the two preceding quar-ters. Profits of chemical manufactur-ers edged down after a large decline inthe first quarter. Profits of petroleummanufacturers were adversely affectedby the costs of cleaning up the oil spilloff the coast of Alaska.

Profits of domestic financial corpo-rations declined $x/2 billion. An in-crease in the income of Federal Re-serve banks—which is treated as cor-

NOTE.—Levels of these and other profits series are found in tables1.14, 1.16, 6.18B, and 7.18 of the "Selected NIPA Tables."

Looking Ahead...

• State Personal Income. A publication containing complete time seriesfor State personal income estimates will be available soon. It contains an-nual estimates for 1929-87 of total personal income, quarterly estimates for1948-87 of disposable personal income, and quarterly estimates for 1948-87of total personal income. It also contains a statement of methodology reflect-ing the national and regional comprehensive revisions. Order informationwill appear in an upcoming issue of the SURVEY.

o Local Area Personal Income. A five-volume publication containing an-nual estimates for 1982-87 of personal income and supporting detail formetropolitan areas and counties will soon be available. Each volume alsocontains a statement of methodology. Order information will appear in anupcoming issue of the SURVEY.

• Input-Output Accounts. The 1984,1985, and 1986 input-output tables willappear in the SURVEY over the next several months. The annual accountsare prepared using basically the same procedures as used in the 1977 bench-mark tables, but with less comprehensive and less reliable source data.


porate profits in the NIPA's—was morethan offset by a decline in the profitsof insurance carriers. Profits of prop-erty/casualty insurers declined, as in-creased investment income was morethan offset by increased underwritinglosses. Profits of private noninsuredpension plans (which are included inthe corporate sector of the NIPA's asinsurance carriers) also declined. Con-ceptually, PBT of these plans is de-fined as the difference between divi-


dend payments and dividend receipts;because the plans do not pay divi-dends, however, PBT is simply divi-dend receipts with sign reversed. Inthe second quarter, dividend receiptsincreased.2

2. For further information on the treatment of pri-vate noninsured pension plans, see U.S. Departmentof Commerce, Bureau of Economic Analysis, CorporateProfits: Profits Before Tax, Profits Tax Liability, and

September 1989

Rest-of-the-world profits declined $3billion. Lower inflows of profits fromforeign affiliates and higher outflowsto foreign owners contributed aboutequally. Both inflows and outflowswere dominated by profits of non-petroleum affiliates.

Dividends, Methodology Paper Series MP-2, (Washing-ton, DC: GPO, May 1985, with update), 19; and "Spe-cial Note.—Profits of Financial Corporations," SURVEYOF CURRENT BUSINESS 63 (November 1983):3-6.


September 1989 SURVEY OF CURRENT BUSINESS

National Income and Product Accounts TablesSelected NIPA Tables

New estimates in this issue: Second quarter 1989, revised.The selected set of 54 national income and product accounts (NIPA) tables shown in this section presents quarterly estimates, which are updated

monthly. (In most of these tables, annual estimates are also shown.) The full set of 132 tables usually shown in July presents annual NIPArevisions. For more information on the presentation of the estimates, see "National Income and Product Accounts Estimates: When They areReleased, Where They Are Available, and How They Are Presented" in the July 1988 SURVEY.

The full set of estimates for 1985-87 is in the July 1988 issue of the SURVEY; estimates for 1984 are in the July 1987 issue; estimates for 1983are in the July 1986 issue. Estimates for 1929-82 are in National Income and Product Accounts, 1929-82: Statistical Tables (GPO Stock No.003-010-00174-7, price $23.00). These publications are available from the Superintendent of Documents; see address on inside front cover.

The full set of NIPA tables is available on diskette for $200 per year (12 updates, for the quarterly estimates prepared each month). For moreinformation, write to the Bureau of Economic Analysis (BE-54), U.S. Department of Commerce, Washington, DC 20230.

Table 1.1.—Gross National Product[Billions of dollars]

Table 1.2.—Gross National Product in Constant Dollars

fBillions of 1982 dollars]

Gross national product

Personal consumption expenditures !...

Durable goods. .Nondurable goodsServices '

Gross private domestic investment

Fixed investmentNonresidential

StructuresProducers' durable equipment

ResidentialChange in business inventories

NonfarmFarm

Net exports of goods and services '

Exports 'Imports '

Government purchases of goods andservices . .

FederalNational defenseNondefense

State and local

1987

4,524.3

3,010.8

421.0998.1

1,591.7

699.9

670.6444.3133.8310.5226.4

29.330.5-1.3

-112.6

448.6561.2

926.1

381.6294.8

86.8544.5

1988

4,880.6

3,235.1

455.21,052.31,727.6

750.3

719.6487.2140.3346.8232.430.634.2-3.6

-73.7

547.7621.3

968.9

381.3298.0

83.3587.6

Seasonally adjusted at annual rates

1988

I

4,739.8

3,148.1

446.41,022.21,679.5

728.8

698.7472.7137.1335.6226.130.024.25.8

-82.8

521.6604.3

945.7

374.1297.4

76.7571.6

II

4,838.5

3,204.9

454.61,042.41,707.9

748.4

719.1487.1139.9347.2232.129.330.4-1.1

-74.9

532.5607.5

960.1

377.1298.079.1

583.0

III

4,926.9

3,263.4

452.51,066.21,744.7

771.1

726.5493.2142.0351.3233.244.641.53.1

-66.2

556.8623.0

958.6

367.5296.1

71.4591.0

IV

5,017.3

3,324.0

467.41,078.41,778.2

752.8

734.1495.8142.5353.3238.4

18.740.822 2

-70.8

579.7650.5

1,011.4

406.4300.5105.9604.9

1989

I

5,113.1

3,381.4

466.41,098,31,816.7

769.6

742.0503.1144.7358.5238.827.719.18.6

-54.0

605.6659.6

1,016.0

399.0298.7100.4617.0

IP

5,201.7

3,444.1

471.01,121.51,851.7

775.0

747.6512.5142.4370.1235.127.423.63.8

-50.6

626.1676.6

1,033.2

406.0301.3104.7627.2

1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.

NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.

Table 1.3.—Gross National Product by Major Type of Product

[Billions of dollars]


Final salesChange in business inventories....

Goods

Final salesChange in business inventories

Durable goodsFinal salesChange in business inventories

Nondurable goodsFinal sales ..Change in business inventories

Services

Structures ..

1987

4,524.3

4,495.029.3

1,785.2

1,755.929.3

774.3752.222.1

1,010.91,003.7

7.2

2,304.5

434.6

1988

4,880.6

4,850.030.6

1,931.9

1,901.330,6

859.1834.125.0

1,072.81,067.2

5.6

2,499.2

449.5


1988

I

4,739.8

4,709.830.0

1,867.0

1,837.030.0

824.9815.2

9.7

1,042.11,021.7

20.3

2,434.2

438.6

II

4,838.5

4,809.229.3

1,917.4

1,888.129.3

857.2840.2

17.0

1,060.21,047.9

12.3

2,472.3

448.8

III

4,926.9

4,882.344.6

1,955.8

1,911.244.6

884.0842.641.4

1,071.81,068.6

3.2

2,520.3

450.8

IV

5,017.3

4,998.718.7

1,987.4

1,968.718.7

888.5856.532.0

1,098.91,112.2

-13.3

2,570.0

459,9

1989

I

5,113.1

5,085.427.7

2,030.9

2,003.227.7

894.7872.822.0

1,136.21,130.5

5.7

2,620.8

461.3

IP

5,201.7

5,174.327.4

2,079.1

2,051.727.4

905.2899.2

6.0

1,173.91,152.5

21.4

2,667.5

455.1


Personal consumption expenditures 1...

Durable goodsNondurable goodsServices '


Fixed investmentNonresidential



NonfarmFarm

Net exports of goods and services '

Exports ' .Imports !

Government purchases of goods andservices .

Federal ...National defense .Nondefense

State and local

1987

3,853.7

2,513.7

389.6890.4

1,233.7

674.0

650.3455.5122.3333.2194.8

23.725.8-2.1

-115.7

450.9566.6

781.8

339.6265.2

74.4442.1

1988

4,024.4

2,598.4

413.6904.5

1,280.2

715.8

687.9493.8122.2371.6194.1

27.930.7-2.8

-74.9

530.1605.0

785.1

328.9261.5

67.4456.2


1988

I

3,974.8

2,570.8

408.4896.6

1,265.9

707.0

672.7483.6121.8361.8189.1

34.328.35.9

-78.2

517.4595.6

775.1

323.8263.060.8

451.3

II

4,010.7

2,586.8

414.8899.2

1,272.8

713.5

692.0497.8122.5375.3194.221.525.4-4.0

-72.6

519.7592.3

783.0

327.9262.5

65.4455.1

III

4,042.7

2,608.1

410.7910.3

1,287.0

733.6

696.1501.0123.0378.0195.1

37.537.2

.3

-74.9

531.9606.9

775.9

319.8258.8

61.0456.1

IV

4,069.4

2,627,7

420.5912.0

1,295.2

709.1

690.8492.7121.4371.3198.1

18.331.9

-13.6

-73.8

551.4625.2

806.4

343.9261.6

82.3462.5

1989

I

4,106.8

2,641.0

419.3915.0

1,306.7

721.1

696.6501.0121.1379.9195.6

24.516.97.6

-55.0

569.7624.6

799.7

335.5254.4

81.1464.2

IP

4,132.5

2,653.7

424.9909.7

1,319.0

719.8

700.7511.4118.1393.2189.319.119.5

— 5

-51.2

587.5638.7

810.3

343.6255.8

87.8466.7



Table 1.4.—Gross National Product by Major Type of Product in ConstantDollars

[Billions of 1982 dollars]



Goods



Nondurable ôodsFinal sales .Change in business inventories

Services

Structures

1987

3,853.7

3,830.023.7

1,669.0

1,645.323.7

790.2770.6

19.6

878.8874.7

4.1

1,803.7

381.1

1988

4,024.4

3,996.527.9

1,771.6

1,743.727.9

883.6860.9

22.7

888.0882.8

5.2

1,873.5

379.3


1988

I

3,974.8

3,940.534.3

1,746.7

1,712.434.3

850.8840.9

9.9

895.8871.524.3

1,854.1

374.0

II

4,010.7

3,989.221.5

1,767.9

1,746.521.5

882.2866.8

15.3

885.8879.7

6.1

1,862.5

380.2

III

4,042.7

4,005.237.5

1,782.3

1,744.837.5

900.8863.437.3

881.5881.4

.1

1,880.8

379.6

IV

4,069.4

4,051.018.3

1,789.4

1,771.018.3

900.5872.428.1

888.9898.6-9.7

1,896.7

383.3

1989

I

4, J 06.8

4,082.324.5

1,823.2

1,798.724.5

902.3884.2

18.1

920.9914.5

6.4

1,905.1

378.5

I?

4,132.5

4,113.519.1

1,843.9

1.824.819.1

913.0908.0

5.0

930.9916.8

14.1

1,919.9

368.8

NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.


SURVEY OF CURRENT BUSINESS September 1989

Table 1.5.—Relation of Gross National Product, Gross Domestic Purchases,and Final Sales to Domestic Purchasers


Gross national product ,

Less: Exports of goods and servicesPlus: Imports of goods and services

Equals: Gross domestic purchases 2

Less: Change in business inventories

Equals: Final sales to domesticpurchasers 3

1987

4,524.3

448.6561.2

4,636.8

29.3

4,607.6

1988

4,880.6

547.7621.3

4,954.3

30.6

4,923.7


1988

I

4,739.8

521.6604.3

4,822.5

30.0

4,792.5

II

4,838.5

532.5607.5

4,913.4

29.3

4,884.1

III

4,926.9

556.8623.0

4,993.1

44.6

4,948.5

IV

5,017.3

579.7650.5

5,088.1

18.7

5,069.5

1989

I

5,113.1

605.6659.6

5,167.1

Tin

5,139.4

nr

5,201.7

626.1676.6

5,252.3

27.4

5,224.9

1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.2. Purchases in the United States of goods and services wherever produced.3. Final sales in the United States of goods and services wherever produced.


Table 1.7.—Gross National Product by Sector[Billions of dollars]


Gross domestic product

BusinessNonfarm

Nonfarm less housing

P °

Statistical discrepancy

Households and institutions ,Private householdsNonprofit institutions

GovernmentFederalState and local

Rest of the world

Addendum:

Gross domestic business product lesshousing

1987

4,524.3

4,493.8

3,851.53,779.53,407.6

371.876.8-4.7

169.39.2

160.1

473.0150.9322.1

30.5

3,472.2

1988

4,880.6

4,847.3

4,153.54,087.13,685.6

401.576.1-9.6

188.09.4

178.7

505.8159.3346.5

33.3

3,744.3


1988

I

4,739.8

4,703.3

4,027.03,960.63,568.8

391.979.5

-13.1

180.79.3

171.4

495.5158.0337.5

36.5

II

4,838.5

4,808.4

4,121.24,042.53,645.3

397.278.8-.1

185.19.3

175.8

502.1158.7343.5

30.0

III

4,926.9

4,894.7

4,194.74,119.63,714.7

404.983.7-8.6

190.89.4

181.4

509.2159.8349.4

32.3

IV

5,017.3

4,982.9

4,271.14,225.53,813.5

412.062.3

-16.6

195.59.5

186.0

516.3160.8355.5

34.5

1989

I

5,113.1

5,078.5

4,347.24,280.03,862.7

417.291.3

-24.1

201.29.5

191.7

530.1168.3361.8

34.5

W

5,201.7

5,170.8

4,426.74,356.03,932.5

423.589.0

-18.3

207.19.6

197.5

536.9169.1367.9

31.0

Table 1.6.—Relation of Gross National Product, Gross Domestic Purchases,and Final Sales to Domestic Purchasers in Constant Dollars



Less: Exports of goods and servicesPlus: Imports of goods and services

Equals: Gross domestic purchases 2

Less: Change in business inventories

Equals: Final sales to domesticpurchasers3

1987

3,853.7

450.9566.6

3,969.4

23.7

3,945.8

1988

4,024.4

530.1605.0

4,099.3

27.9

4,071.4


1988

I

3,974.8

517.4595.6

4,052.9

34.3

4,018.7

II

4,010.7

519.7592.3

4,083.3

21.5

4,061.8

III

4,042.7

531.9606.9

4,117.6

37.5

4,080.1

IV

4,069.4

551.4625.2

4,143.2

18.3

4,124.9

1989

I

4,106.8

569.7624.6

4,161.8

24.5

4,137.3

IT

4,132.5

587.5638.7

4,183.7

19.1

4,164.7

1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.2. Purchases in the United States of goods and services wherever produced.3. Final sales in the United States of goods and services wherever produced.


Table 1.8.—Gross National Product by Sector in Constant Dollars[Billions of 1982 dollars]



BusinessNonfarm

Nonfarm less housingHousing ,

FarmStatistical discrepancy

Households and institutionsPrivate householdsNonprofit institutions

GovernmentFederalState and local

Rest of the world

Addendum:

Gross domestic business product lesshousing

1987

3,853.7

3,827.2

3,328.93,249.62,967.8

281.883.4-4.1

128.68.8

119.9

369.6123.6246.0

26.6

3,038.0

1988

4,024.4

3,996.3

3,482.93,418.23,127.9

290.372.7-8.0

137.38.8

128.4

376.1125.2250.9

28.1

3,183.7


1988

I

3,974.8

3,943.5

3,436.03,364.23,076.3

287.883.0

-11.2

133.58.8

124.7

374.0124.9249.1

31.3

II

4,010.7

3,985.1

3,474.13,398.83,109.2

289.675.30

136.08.8

127.2

375.0124.7250.3

25.6

in

4,042.7

4,015.6

3,499.73,435.53,144.3

291.271.4-7.2

139.08.9

130.2

376.8125.3251.5

27.1

IV

4,069.4

4,040.8

3,521.73,474.23,181.7

292.561.2

-13.7

140.58.9

131.6

378.6126.0252.7

28.5

1989

I

4,106.8

4,078.5

3,555.73,494.53,200.8

293.880.8

-19.7

142.78.9

133.8

380.1126.4253.7

28.3

IP

4,132.5

4,107.3

3,580.73,518.63,223.1

295.576.9

-14.8

145.48.9

136.5

381.2126.5254.7

25.2

NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.



Table 1.9.—Relation of Gross National Product, Net National Product, NationalIncome, and Personal Income


Table 1.14.—National Income by Type of Income



Less: Capital consumption allowanceswith capital consumption adjustment ..

Capital consumptionallowances without capitalconsumption adjustment

Less: Capital consumptionadjustment

Equals: Net national product

Less: Indirect business tax and nontaxliability

Business transfer paymentsStatistical discrepancy

Plus: Subsidies less current surplus ofgovernment enterprises

Equals: National income

Less: Corporate profits with inventoryvaluation and capital consumptionadjustments

Net interestContributions for social

insuranceWage accruals less

disbursements

Plus: Government transfer payments topersons

Personal interest incomePersonal dividend incomeBusiness transfer payments

Equals: Personal income

1987

4,524.3

486.7

507.1

20.4

4,037.6

367.826.7-4.7

17.6

3,665.4

298.7351.7

400.8

0

521.5523.292.026.7

3,777.6

1988

4,880.6

513.6

526.4

12.8

4,367.1

393.529.0-9.6

18.5

3,972.6

328.6392.9

444.6

0

555.7571.1102.229.0

4,064.5


1988

I

4,739.8

504.7

520.3

15.6

4,235.1

384.328.0

-13.1

17.6

3,853.6

318.1376.6

434.0

0

547.8549.698.228.0

3,948.5

II

4,838.5

510.2

525.2

15.0

4,328.2

390.128.7-.1

24.0

3,933.6

325.3383.0

441.1

0

553.2560.0100.428.7

4,026.6

III

4,926.9

515.2

528.9

13.6

4,411.7

397.029.4-8.6

11.8

4,005.7

330.9396.4

448.2

0

558.0576.3103.629.4

4,097.6

IV

5,017.3

524.1

531.3

7.1

4,493.2

402.730.1

-16.6

20.4

4,097.4

340.2415.7

455.2

0

563.7598.6106.430.1

4,185.2

1989

I

5,113.1

533.0

532.7

-.3

4,580.1

407.730.8

-24.1

19.5

4,185.2

316.3436.1

469.7

0

585.6629.0109.430.8

4,317.8

IP

5,201.7

541.0

533.6

-7.3

4,660.8

413.431.5

-18.3

15.5

4,249.6

307.8458.4

476.4

0

595.3655.1111.431.5

4,400.3

Table 1.10.—Relation of Gross National Product, Net National Product, andNational Income in Constant Dollars



Less: Capital consumption allowanceswith capital consumption adjustment ..


Less: Indirect business tax and nontaxliability plus business transferpayments less subsidies plus currentsurplus of government enterprises


Equals: National income

3,853.7

460.8

3,392.9

317.9

-4.1

3,079.0

4,024.4

480.2

3,544.2

327.8

-8.0

3,224.5

3,974.8

472.4

3,502.3

324.3

-11.2

3,189.2

4,010.7

477.5

3,533,2

326.3

0

3,206.9

4,042.7

482.7

3,559.9

329.2

-7.2

3,237.9

4,069.4

488.1

3,581.2

331.2

-13.7

3,263.7

4,106.8

493.5

3,613.3

331.3

-19.7

3,301.6

4,132.5

498.9

3,633.6

331.8

-14.8

3,316.6

Table 1.11.—Command-Basis Gross National Product in Constant Dollars



Less: Net exports of goods andservices

ExportsImports

Equals: Gross domestic purchases

Plus: Command-basis net exports ofgoods and services

Command-basis exports '

Equals: Command-basis grossnational product

Addendum:

Terms of trade 2

3 853.7

-115 7450.95666

3,969.4

-113.6452.95666

3,855.8

100.5

4,024 4

-74953016050

4,099.3

-71.7533.36050

4,027.5

100.6

3,974.8

-782517.4595 6

4,052.9

-81.6514.05956

3,971.4

99.3

4,010.7

-726519.75923

4,083.3

-73.1519.35923

4,010.2

99.9

4,042 7

-749531.96069

4,117.6

-64.5542.46069

4,053.1

101.9

4,069 4

-738551.46252

4,143.2

-68.0557.26252

4,075.2

101.1

4,106.8

-550569.76246

4,161.8

-51.1573.56246

4,110.7

100.7

4,132 5

-51 2587.56387

4,183.7

-47.7590.96387

4,136.0

100.7

National income

Compensation of employees

Wages and salariesGovernment and government

enterprisesOther

Supplements to wages and salariesEmployer contributions for social

insuranceOther labor income

Proprietors' income with inventoryvaluation and capital consumptionadjustments

FarmProprietors' income with

inventory valuation adjustment....Capital consumption adjustment

NonfarmProprietors' incomeInventory valuation adjustmentCapital consumption adjustment

Rental income of persons withcapital consumption adjustment

Rental income of personsCapital consumption adjustment

Corporate profits with inventoryvaluation and capital consumptionadjustments

Corporate profits with inventoryvaluation adjustment

Profits before taxProfits tax liabilityProfits after tax

DividendsUndistributed profits

Inventory valuation adjustment

Capital consumption adjustment

Net interest

Addenda:

Corporate profits after tax withinventory valuation and capitalconsumption adjustments

Net cash flow with inventoryvaluation and capitalconsumption adjustmentsUndistributed profits with

inventory valuation andcapital consumptionadjustments

Capital consumption allowanceswith capital consumptionadjustment

Less: Inventory valuationadjustment

Equals: Net cash flow

1987

3,665.4

2,690.0

2,249.4

419.21,830.1

440.7

227.8212.8

311.6

41.6

49.6-8.0

270.0238.9-1.032.2

13.4

61.2-47.9

298.7

247.8

266.7124.7142.098.743.3

-18.9

50.9

351.7

174.0

378.4

75.3

303.1

-18.9397.3

1988

3,972.6

2,907.6

2,429.0

446.51,982.5

478.6

249.7228.9

327.8

39.8

47.3-7.5

288.0259.2-1.530.3

15.7

65.4-49.8

328.6

281.8

306.8137.9168.9110.458.5

-25.0

46.8

392,9

190.7

402.0

80.3

321.7

-25.0427.0


1988

I

3,853.6

2,819.4

2,353.4

437.01,916.4

466.0

243.7222.3

324.0

44.0

51.9-7.9

279.9250.9-1.330.3

15.6

65.4-49.8

318.1

268.1

288.8129.0159.9105.754.2

-20.7

49.9

376.6

189.1

398.3

83.4

314.9

-20.7419.0

II

3,933.6

2,878.9

2,405.4

443.11,962.3

473.5

247.7225.9

331.8

45.4

53.0-7.7

286.5257.8-1.830.5

14.6

64.3-49.7

325,3

276.4

305.3138.4166.9108.658.3

-28.8

48.9

383.0

187.0

397.4

78.3

319.0

-28.8426.2

in

4,005.7

2,935.1

2,452.2

449.62,002.6

482.9

251.8231.1

327.0

37.7

45.0-7.4

289.3260.4-1.630.5

16.3

65.8-49.6

330.9

284.1

314.4141.2173.2112.261.1

-30.4

46.9

396.4

189.7

400.7

77.6

323.1

-30.4431.1

IV

4,097.4

2,997.2

2,505.1

456.32,048.9

492.0

255.6236.5

328.3

32.0

39.2-7.2

296.3267.8-1.329.8

16.1

66.1-49.9

340.2

298.7

318.8143.2175.6115.260.4

-20.1

41.5

415.7

196.9

411.5

81.7

329.7

-20.1431.6

1989

I

4,185.2

3,061.7

2,560.7

466.92,093.8

501.0

259.7241.3

359.3

59.0

66.2-7.2

300.3274.4-2.528.5

11.8

62.9-51.1

316.3

279.7

318.0144.4173.6118.555.1

-38.3

36.6

436.1

171.9

388.6

53.4

335.2

-38.3426.9

IP

4,249.6

3,118.2

2,608.8

473.52,135.3

509.4

263.4246.0

355.5

51.3

58.4-7.1

304.2278.7-1.927.4

9.8

62.5-52.7

307.8

275.5

296.0134.9161.1120.940.2

-20.5

32.3

458.4

172.9

391.7

52.0

339.7

-20.5412.2

1. Exports of goods and services deflated by the implicit price deflator for imports of goods and services.2. Ratio of the implicit price deflator for exports of goods and services to the implicit price deflator for

imports of goods and services with the decimal point shifted two places to the right.



SURVEY OF CURRENT BUSINESS September 1989

Table 1.16.—Gross Domestic Product of Corporate Business in Current Dollarsand Gross Domestic Product of Nonfinancial Corporate Business in Currentand Constant Dollars

Table 1.17.—Auto Output


Gross domestic product ofcorporate business

Capital consumption allowances withcapital consumption adjustment

Net domestic productIndirect business tax and nontax

liability plus business transferpayments less subsidies

Domestic incomeCompensation of employees

Wages and salariesSupplements to wages and

salariesCorporate profits with inventory

valuation and capitalconsumption adjustmentsProfits before tax



Inventory valuation adjustment....Capital consumption adjustment..

Net interest

Gross domestic product offinancial corporate business..

Gross domestic product ofnonflnancial corporatebusiness




Domestic incomeCompensation of employees

Waês and salaries . . .Supplements to wages and

salariesCorporate profits with inventory

valuation and capitalconsumption adjustmentsProfits before tax



Inventory valuation adjustment....Capital consumption adjustment..

Net interest

Gross domestic product ofnonflnancial corporatebusiness




Domestic income

1987 1988


1988

I II III IV

1989

I I?

Billions of dollars

2,719.4

303.1

2,416.4

259.62,156.81,807.81,520.4

287.5

259.6227.6124.7102.982.820.1

-18.950.989.3

198.7

2,520.7

281.7

2,239.0

242.31,996.61,665.11,399.2

266.0

224.6197.293.1

104.181.422.7

-18.946.3

106.9

2,955.0

321.7

2,633.3

278.62,354.71,951.21,640.5

310.7

285.0263.2137.9125.384.241.1

-25.046.8

118.6

223.7

2,731.3

297.1

2,434.2

260.02,174.21,799.11,511.2

287.9

249.3233.4105.4128.083.045.0

-25.040.9

125.8

2,861.4

314.9

2,546.5

271.92,274.71,891.01,588.9

302.1

275.7246.5129.0117.575.442.1

-20.749.9

108.0

213.3

2,648.1

291.7

2,356.4

253.72,102.81,742.81,463.0

279.8

241.9218.798.2

120.575.844.7

-20.743.9

118.0

2,927.1

319.0

2,608.1

275.72,332.41,932.41,625.2

307.2

284.6264.6138.4126.278.148.2

-28.848.9

.115.4

221.2

2,705.9

295.1

2,410.9

257.32,153.61,782.11,497.5

284.7

248.7234.9106.6128.377.450.9

-28.842.7

122.7

2,982.8

323.1

2,659.6

281.92,377.81,969.51,656.0

313.5

285.9269.3141.2128.195.932.3

-30.446.9

122.4

227.9

2,754.9

298.1

2,456.8

263.22,193.61,816.81,526.2

290.6

248.3237.7107.4130.392.637.7

-30.441.0

128.5

3,048.6

329.7

2,718.9

284.82,434.02,012.01,691.9

320.0

293.7272.3143.2129.187.241.9

-20.141.5

128.4

232.2

2,816.4

303.6

2,512.8

265.92,246.91,854.61,558.1

296.5

258.2242.2109.4132.886.446.5

-20.136.1

134.0

3,078.6

335.2

2,743.4

288.52,454.92,050.61,730.2

320.4

269.7271.5144.4127.1102.025.0

-38.336.6

134.5

235.8

2,842.7

308.4

2,534.4

269.32,265.01,889.31,592.5

296.7

235.3242.2110.6131.698.333.3

-38.331.5

140.4

3,126.1

339.7

2,786.4

293.12,493.32,087.71,761.6

326.1

264.2252.4134.9117.496.820.6

-20.532.3

141.4

238.9

2,887.2

312.2

2,575.0

273.72,301.31,923.11,621.2

301.9

230.5223.8100.6123.193.729.4

-20.527.3

147.6

Billions of 1982 dollars

2,282.6

269.72,012.9

202.51,810.4

2,419.5

279.32,140.2

209.21,931.0

2,381.8

275.52,106.3

206.61,899.8

2,408.9

278.02,130.9

208.21,922.7

2,434.1

280.62,153.6

210.11,943.5

2,453.2

283.22,170.0

211.91,958.1

2,459.1

285.92,173.2

211.31,961.9

2,471.3

288.82,182.5

211.81,970.8

Auto output .... . .

Final salesPersonal consumption expenditures

New autosNet purchases of used autos

Producers' durable equipmentNew autosNet purchases of used autos

Net exports of goods and servicesExportsImports

Government purchases of goods andservices

Change in business inventories ofnew and used autosNewUsed

Addenda:

Domestic output of new autos 'Sales of imported new autos 2

1987

119.2

111.6131.793.538.219.145.0

-25.9-40.7

7.247.9

1.5

7.66.8.8

95.355.1

1988

129.9

128.8144.2101.243.021.451.3

-29.9-38.4

8.747.1

1.6

1.1.5.6

101.660.8


1988

I

118.6

127.5143.6102.241.422.049.3

-27.4-39.9

8.048.0

1.8

-8.9-9.5

.6

89.762.3

II

132.5

132.3145.7101.244.522.351.2

-28.9-37.1

7.945.0

1.5

.12.3

-2.1

103.062.0

in

136.6

125.3140.998.842.120.252.5

-32.3-37.1

9.546.7

1.4

11.37.73.7

105.960.2

IV

132.0

130.1146.6102.444.221.252.3

-31.1-39.3

9.248.5

1.5

1.91.5.4

107.658.5

1989

I

134.5

123.9142.799.842.919.047.7

-28.7-39.5

9.749.2

1.7

10.511.1-.5

106.957.2

Er

131.7

135.4144.5101.143.523.454.7

-31.3-34.4

8.743.1

1.9

-3.7-3.9

.2

107.160.4

1. Consists of final sales and change in business inventories of new autos assembled in the United States.2. Consists of personal consumption expenditures, producers' durable equipment, and government

purchases.

Table 1.18.—Auto Output in Constant Dollars


Auto output

Final salesPersonal consumption expenditures

New autosNet purchases of used autos

Producers' durable equipmentNew autos . . .Net purchases of used autos

Net exports of goods and servicesExportsImports


Change in business inventories ofnew and used autos ,NewUsed

Addenda:

Domestic output of new autos 'Sales of imported new autos 2

1987

101.7

95.6108.879.529.316.238.3

-22.1-30.8

6.036.8

1.3

6.15.4

.7

81.146.8

1988

108.9

108.6117.084.432.718.342.8

-24.5-28.1

7.135.2

1.4

.4-.1

.5

84.550.7


1988

I

99.4

107.9117.286.031.218.941.5

-22.7-29.8

6.636.4

1.6

-8.5-8.9

.4

75.152.4

II

111.9

111.9119.184.834.418.942.9

-24.0-27.4

6.534.0

1.3

01.8

-1.8

86.252.0

III

114.4

105.0113.982.231.717.343.7

-26.4-27.4

7.835.2

1.2

9.46.42.9

88.150.1

IV

110.1

109.5117.984.633.418.143.2

-25.1-27.9

7.535.4

1.4

.6

.3

.3

88.648.3

1989

I

110.9

103.2113.881.632.216.239.0

-22.8-28.3

7.836.1

1.4

7.78.2-.5

86.946.7

IF

109.3

111.5115.482.433.019.544.6

-25.0-25.1

6.932.0

1.6

-2.1-2.2

.1

87,149.2

1. Consists of final sales and change in business inventories of new autos assembled in the United States.2. Consists of personal consumption expenditures, producers' durable equipment, and governmentrrchases.2. ....

purchases.



Table 1.19.—Truck Output


Table 1.20.—Truck Output in Constant Dollars


Truck output '

Final salesPersonal consumption expendituresProducers' durable equipmentNet exports of goods and services

ExportsImports


Change in business inventories

1987

59.7

58.327.732.6-6.6

3.710.3

4.7

1.3

1988

66.3

65.929.236.7-5.6

3.89.5

5.7

.4


1988

I

64.9

65.829.035.7-5.0

4.19.1

6.1

3

II

65.2

65.128.935.8-5.3

3.79.0

5.7

.1

III

63.8

65.929.136.6-5.3

3.99.2

5.5

-2.1

IV

71.2

67.029.838.9-6.9

3.710.5

5.2

4.2

1989

I

70.3

65.530.335.7-6.3

3.910.2

5.8

4.8

W

68.1

65.629.836.5-6.3

3.19.4

5.7

2.6

Truck output '

Final salesPersonal consumption expendituresProducers' durable equipmentNet exports of goods and services

ExportsImports

Government purchases of goods andservices ,

Change in business inventories

1987

50.9

49.823.527.9-5.7

3.28.8

4.0

1.1

1988

55.7

55.324.630.8-4.7

3.27.9

4.7

.3


1988

I

55.2

55.824.530.4-4.3

3.57.8

5.2

-.7

II

55.4

55.324.430.5-4.5

3.17.7

4.9

.2

m

53.8

55.324.530.7-4.5

3.37.7

4.6

-1.6

IV

58.3

54.924.831.6-5.7

3.08.7

4.2

3.3

1989

I

57.0

53.324.829.0-5.1

3.28.3

4.7

3.7

E"

55.4

53.524.429.6-5.1

2.57.6

4.6

1.9

1. Includes new trucks only.

Table 2.1.—Personal Income and Its Disposition


1. Includes new trucks only.

Table 2.2.—Personal Consumption Expenditures by Major Type of Product


Personal income

Wage and salary disbursements

Commodity-producing industriesManufacturing

Distributive industriesService industriesGovernment and government

Ot er 1 Tor i come

Proprietors' income withinventory valuation and capitalconsumption adjustments

Nonfarm

Rental income of persons withcapital consumption adjustment...

Personal dividend incomePersonal interest incomeTransfer payments

Old-age, survivors, disability, and

Government unemploymentinsurance benefits

Veterans benefitsGovernment employees retirement

benefitsOther transfer payments

Aid to families with dependentchildren

Other

Less: Personal contributions forsocial insurance

Less: Personal tax and nontax

Equals: Disposable personal income....

Less: Personal outlays

Personal consumption expendituresInterest paid by consumers to

businessPersonal transfer payments to

foreigners (net)

Equals: Personal saving

Addenda:

Disposable personal income:Total, billions of 1982 dollarsPer capita:

Current dollars1982 dollars

Population (mid-period, millions)....

Personal saving as percentage ofdisposable personal income

1987

3,777.6

2,249.4

649.9490.3531.9648.3

419.2

212.8

311.6

41.6270.0

13.492.0

523.2548.2

282.9

14.516.6

76.4157.9

16.7141.2

172.9

571.7

3,205.9

3,104.1

3,010.8

91.4

1.9

101.8

2,676.6

13,14010,970244.0

3.2

1988

4,064.5

2,429.0

696.3524.0571.9714.4

446.5

228.9

327.8

39.8288.0

15.7102.2571.1584.7

300.5

13.017.0

82.7171.5

17.2154.3

194.9

586.6

3,477.8

3,333.1

3,235.1

96.1

1.9

144.7

2,793.2

14,11611,337246.4

4.2


1988

I

3,948.5

2,353.4

678.2511.4554.0684.3

437.0

222.3

324.0

44.0279.9

15.698.2

549.6575.8

297.2

13.516.9

81.4166.8

17.0149.8

190.3

572.2

3,376.4

3,244.4

3,148.1

94.2

2.1

131.9

2,757.2

13,75411,232245.5

3.9

II

4,026.6

2,405.4

690.8519.2568.0703.5

443.1

225.9

331.8

45.4286.5

14.6100.4560.0581.8

299.2

13.116.9

83.0169.6

17.1152.5

193.4

590.7

3,435.9

3,301.9

3,204.9

95.6

1.5

134.0

2,773.3

13,96611,273246.0

3.9

m

4,097.6

2,452.2

701.6527.2578.0723.0

449.6

231.1

327.0

37.7289.3

16.3103.6576.3587.4

301.4

12.917.0

82.8173.2

17.3155.9

196.4

585.9

3,511.7

3,362.1

3,263.4

96.7

1.9

149.6

2,806.4

14,23511,377246.7

4.3

IV

4,185.2

2,505.1

714.7538.1587.5746.7

456.3

236.5

328.3

32.0296.3

16.1106.4598.6593.8

304.0

12.517.0

83.7176.5

17.5159.0

199.6

597.8

3,587.4

3,424.0

3,324.0

98.1

1.9

163.4

2,835.9

14,50411,466247.3

4.6

1989

I

4,317.8

2,560.7

726.6546.3598.8768.4

466.9

241.3

359.3

59.0300.3

11.8109.4629.0616.4

316.9

13.517.6

86.9181.5

17.6163.9

210.0

628.3

3,689.5

3,483.8

3,381.4

100.1

2.2

205.7

2,881.7

14,88411,625247.9

5.6

NOTE.— Percent changes from preceding period for selected items in this table are shown in ta

IP

4,400.3 Personal consumptionexpenditures '2,608.8 expenuiiurta

Durable goods

549 9 Motor vehicles and parts610.8 Furniture and household equipment ....790.8 Other

4735 Nondurable goods

Clothing and shoesGasoline and oilOther nondurable goods

355.5 fuel oil and coal

304.2 Services »

Housing"•** Household operation

655.1 Other

Medical care322 9 Other 1

1987

3,010.8

421.0

195.5149.176.5

998.1

529.2177.275.2

216.617.6

199.0

1,591.7

467.7185.988.597.4

106.5357.7473.9

1988

3,235.1

455.2

211.6162.081.6

1,052.3

559.7186.876.8

229.019.5

209.5

1,727.6

501.3197.693.7

104.0117.9398.3512.4


1988

I

3,148.1

446.4

210.3156.979.2

1,022.2

542.5180.874.3

224.519.3

205.2

1,679.5

490.8192.992.2

100.7113.1379.9502.9

II

3,204.9

454.6

212.5162.279.9

1,042.4

554.5183.676.9

227.519.4

208.1

1,707.9

496.6194.992.1

102.8117.4391.3507.7

m

3,263.4

452.5

208.4162.781.4

1,066.2

567.8188.978.3

231.219.6

211.6

1,744.7

505.0200.294.5

105.7119.8404.7514.9

IV

3^24.0

467.4

215.3166.186.0

1,078.4

574.1193.977.6

232.819.7

213.1

1,778.2

513.0202.495.8

106.6121.5417.4523.9

1989

I

3,381.4

466.4

211.7172.182.6

1,098.3

587.3195.077.9

238.118.7

219.4

1,816.7

520.2201.193.6

107.5124.4432.3538.7

IP

3,444.1

471.0

212.9173.584.6

1,121.5

592.2198.989.5

241.019.6

221.4

1,851.7

527.7202.394.6

107.7125.6445.1551.0

14>1 1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.

JJ-* Table 2.3. — Personal Consumption Expenditures by Major Type of Product inConstant Dollars

17.7166.4 [Billions of 1982 dollars]

213.0

652.6

^747.7

3,547.0 Personal consumption„ AAA , expenditures1

Durable goods101.5 *

Motor vehicles and parts1.4 Furniture and household equipment....

Other200.7

Nondurable goods

FoodClothing and shoes

2,887.6 Gasoline and oilOther nondurable goods

15,084 Fuel oil and coal11,622 other248.5

Services *

54 HousingHousehold operation

. . „ ^ Electricity and gas

TransportationMedical careOther1

1987

2,513.7

389.6

168.8152.368.5

890.4

452.7159.695.9

182.123.0

159.2

1,233.7

358.4156.778.877.989.6

266.8362.3

1988

2,598.4

413.6

179.2164.869.6

904.5

460.0161.397.1

186.125.4

160.7

1,280.2

366.1164.182.881.394.5

278.2377.4


1988

I

2,570.8

408.4

179.1160.468.9

896.6

456.3159.695.6

185.125.0

160.1

1,265.9

364.0162.182.180.092.5

273.3374.0

II

2,586.8

414.8

180.9165.468.5

899.2

459.8157.197.3

185.324.7

160.5

1,272.8

365.6162.481.880.593.9

275.6375.4

m

2,608.1

410.7

176.2165.369.2

910.3

461.9164.197.4

187.325.3

162.1

1,287.0

366.8166.384.082.495.2

279.9378.8

IV

2,627.7

420.5

180.6168.071.8

912.0

462.1164.698.2

187.826.6

161.1

1,295.2

368.0165.783.382.496.2

283.9381.3

1989

I

2,641.0

419.3

176.1174.868.4

915.0

466.0165.097.6

186.524.0

162.4

1,306.7

369.6163.480.782.796.3

289.0388.3

Er

2,653.7

424.9

177.0178.569.4

909.7

461.4165.896.5

186.024.4

161.5

1,319.0

371.7164.481.482.997.1

293.1392.7



8 SURVEY OF CURRENT BUSINESS September 1989

Table 3.2.—Federal Government Receipts and Expenditures[Billions of dollars]

Table 3.3.—State and Local Government Receipts and Expenditures[Billions of dollars]

Receipts

Personal tax and nontax receiptsIncome taxesEstate and gift taxes

Corporate profits tax accruals. . .

Other

Indirect business tax and nontaxaccrualsExcise taxesCustoms dutiesNontaxes

Contributions for social insurance

Expenditures

Purchases of goods and servicesNational defenseNondefense

To personsTo foreigners

Grants-in-aid to State and localgovernments

Net interest paidInterest paid

To persons and businessTo foreigners

Less: Interest received bygovernment

Subsidies less current surplus ofgovernment enterprisesSubsidiesLess: Current surplus of government

enterprises

Less: Wage accruals lessdisbursements

Surplus or deficit (-), nationalincome and product accounts ..

Social insurance funds .Other

1987

911.4

405.8397.2

7.41.3

101.017.783.3

53.831.615.46.7

350.8

1,072.8

381.6294.8

86.8

414.3401.9

12.4

102.6

141.7162.3138.224.1

20.6

32.630.8

-1.8

0

-161.4

26.4-187.8

1988

972.4

413.0403.5

7.91.6

111.417.494.1

56.734.216.46.1

391.3

1,118.3

381.3298.0

83.3

438.2425.4

12.9

111.4

151.4173.8144.829.1

22.4

36.028.9

-7.1

0

-145.8

54.8-200.6


1988

I

944.7

402.7393.9

7.31.5

104.216.687.5

55.933.116.56.3

382.0

1,096.5

374.1297.4

76.7

433.0421.5

11.4

110.1

144.9171.7145.126.6

26.8

34.429.8

-4.6

0

-151.8

45.7-197.5

II

973.2

417.5407.5

8.01.9

111.616.794.9

55.934.016.06.0

388.2

1,114.7

377.1298.079.1

434.4424.2

10.2

112.2

149.9171.1142.728.4

21.2

41.232.2

-9.0

0

-141.5

51.6-193.2

III

977.3

411.4401.7

8.11.5

114.017.596.5

57.434.616.46.3

394.5

1,099.8

367.5296.1

71.4

438.0426.3

11.7

111.0

153.9174.4144.230.2

20.5

29.417.6

-11.8

0

-122.5

58.2-180.7

IV

994.6

420.3410.7

8.01.6

115.818.697.3

57.835.116.95.8

400.6

1,162.1

406.4300.5105.9

447.6429.4

18.2

112.2

157.0178.3147.231.1

21.2

38.935.9

-3.0

0

-167.6

63.6-231.2

1989

I

1,036.2

446.8437.0

8.11.7

117.019.597.5

58.035.117.15.9

414.3

1,183.7

399.0298.7100.4

460.4448.9

11.5

118.7

167.0187.4154.932.5

20.4

38.534.2

-4.3

0

-147.5

62.7-210.1

I?

1,053.2 Receipts

465.1 Personal tax and nontax receipts453.3

IA 1 Income taxesl'o Nontaxes

Other ; -• .

20'g Corporate profits tax accruals

89.4 Indirect business tax and nontaxaccruals

35.1 Property taxes17.2 other5.9

Contributions for social insurance420.2

Federal grants-in-aid1,198.6

Expenditures406.0 P

301.3 Purchases of goods and services

Compensation of employees466 9 Other

j j ' j Transfer payments to persons

Net interest paid

118.4 Interest paid172 0 êss: Interest received byini'n government191.9 suvcijiiiiciii

157.6 Less: Dividends received by

Subsidies less current surplus of

Subsidies35.3 Less: Current surplus of government

-6.8 Less: Wage accruals lessdisbursements

0 Surplus or deficit (-), nationalincome and productaccounts

-145.4Social insurance funds

63.7 Other-209.1 . _

1987

656.1

165.8

86.365.813.8

23.7

314.0

149.2121.343.5

50.0

102.6

604.8

544.5

322.1222.4

119.6

-37.5

53.8

91.3

6.7

-15.1

.7

15.8

0

51.3

63.7-12.4

1988

701.6

173.7

88.570.314.8

26.5

336.8

160.5131.045.2

53.3

111.4

651.9

587.6

346.5241.2

130.3

-40.3

59.9

100.2

8.3

-17.5

.7

18.3

0

49.7

71.1-21.4


1988

I

684.8

169.5

86.568.614.4

24.8

328.3

156.5127.344.5

52.0

110.1

634.0

571.6

337.5234.1

126.3

-39.5

57.6

97.2

7.5

-16.8

.7

17.6

0

50.8

68.3-17.5

II

699.2

173.3

88.869.814.7

26.7

334.1

159.1129.945.1

52.9

112,2

646.7

583.0

343.5239.6

129.0

-40.0

59.2

99.1

8.2

-17.1

.7

17.9

0

52.4

70.4-17.9

III

706.0

174.5

88.670.915.0

27.2

339.7

161.7132.345.7

53.7

111.0

656.2

591.0

349.4241.6

131.7

-40.4

60.7

101.1

8.5

-17.6

.8

18.3

0

49.8

72.1-22.3

IV

716.5

177.5

90.372.015.1

27.4

344.9

164.8134.545.7

54.6

112.2

670.8

604.9

355.5249.5

134.3

-41.1

62.2

103.3

8.8

-18.5

.8

19.3

0

45.7

73.8-28.1

1989

I

732.6

181.5

92.973.215.3

27.4

349.7

166.8136.846.1

55.4

118.7

683.8

617.0

361.8255.1

136.7

-41.7

63.7

105.4

9.1

-19.0

.8

19.8

0

48.8

75.4-26.6

IP

742.6

187.5

97.674.315.6

25.2

355.3

169.4139.146.7

56.2

118.4

695.1

627.2

367.9259.3

139.6

-42.3

65.1

107.5

9.5

-19.8

.8

20.6

0

47.5

77.1-29.6

Table 3.7B.—Government Purchases of Goods and Services by Type[Billions of dollars]

Table 3.8B.—Government Purchases of Goods and Services by Type inConstant Dollars


Government purchases ofgoods and services

Federal

National defenseDurable goodsNondurable goodsServices .

Compensation of employeesMilitaryCivilian

Other servicesStructures

NondefenseDurable goodsNondurable goods

Commodity Credit Corporationinventory change

Other nondurablesServices

Compensation of employeesOther services

Structures

State and local

Durable goodsNondurable goodsServices . . .


Structures

1987

926.1

381.6

294.889.810.5

187.3108.973.335.678.37.2

86.84.23.2

-3.36.6

70.942.029.08.5

544.5

26.543.6

409.8322.1

87.864.6

1988

968.9

381.3

298.083.910.9

196.1113.276.037.282.97.0

83.34.6

-8.2

-15.67.4

80.046.133.96.8

587.6

29.446.9

442.1346.595.669.3


1988

I

945.7

374.1

297.483.210.6

196.9113.376.037.483.66.6

76.74.3

-10.9

-19.08.1

76.344.731.67.1

571.6

28.145.4

430.1337.592.667.9

II

960.1

377.1

298.083.711.4

195.5112.975.837.182.67.4

79.14.9

-12.9

-21.58.5

80.445.834.76.7

583.0

29.046.6

438.2343.594.769.2

III

958.6

367.5

296.183.710.5

194.7113.076.236.981.77.2

71.44.4

-19.8

-25.96.1

79.746.832.97.1

591.0

29.847.5

446.0349.496.667.7

IV

1,011.4

406.4

300.585.111.1

197.4113.776.237.683.67.0

105.94.9

11.0

4.16.9

83.647.136.56.5

604.9

30.648.3

453.9355.598.472.2

1989

I

1,016.0

399.0

298.782.710.8

198.8119.179.140.079.86.3

100.45.23.8

-3.87.6

84.949.235.76.5

617.0

31.550.6

463.2361.8101.471.6

E"

1,033.2

406.0

301.382.811.7

200.5119.479.040.481.26.3

104.75.35.9

-1.06.9

86.649.737.06.9

627.2

32.352.4

471.3367.9103.571.1


Federal

National defenseDurable goodsNondurable goodsServices




Commodity Credit Corporationinventory change

Other nondurablesServices . . .


Structures

State and local ,

Durable °oodsNondurable goods ,Services


Structures

1987

781.8

339.6

265.288.814.5

155.989.560.529.066.46.0

74.45.02.6

-3.96.5

59.334.225.17.5

442.1

24.146.2

315.5246.0

69.556.4

1988

785.1

328.9

261.584.614.3

156.989.160.029.167.85.7

67.45.4

-8.7

-15.66.9

64.836.128.75.9

456.2

26.148.6

323.7250.9

72.857.8


1988

I

775.1

323.8

263.084.214.3

159.089.860.529.369.35.4

60.85.1

-12.7

-20.68.0

62.235.227.06.2

451.3

25.347.7

320.6249.1

71.657.6

II

783.0

327.9

262.585.014.7

156.888.859.828.968.06.0

65.45.6

-11.3

-19.68.3

65.335.929.45.8

455.1

25.948.4

322.7250.3

72.458.1

in

775.9

319.8

258.884.313.4

155.488.759.928.766.85.8

61.05.2

-14.7

-20.15.4

64.436.727.76.1

456.1

26.449.0

324.7251.573.256.0

IV

806.4

343.9

261.685.014.7

156.489.159.829.367.35.4

82.35.63.9

-2.26.0

67.436.930.55.5

462.5

26.949.5

326.8252.774.159.3

1989

I

799.7

335.5

254.482.113.9

153.589.559.729.864.04.8

81.15.73.6

-3.36.9

66.336.929.45.5

464.2

27.450.1

328.6253.775.058.0

I?

810.3

343.6

255.882.814.5

153.789.459.529.964.34.7

87.85.89.1

3.16.0

67.237.030.25.7

466.7

27.950.7

330.6254.7

75.857.5



Table 3.9*—National Defense Purchases of Goods and Services


Table 3.10.—National Defense Purchases of Goods and Services in ConstantDollars


National defense purchases

Durable goods

Military equipmentAircraftMissilesShips .-VehiclesElectronic equipmentOther

Other durable goods

Nondurable goods ,

Petroleum products ,AmmunitionOther nondurable goods

Services


Other servicesContractual research and

developmentInstallation support 'Weapons support 2 ....Personnel support 3

Transportation of materielTravel of personsOther

Structures

Military facilitiesOther

1987

294.8

89.8

77.533.912.78.54.85.8

11.712.3

10.5

4.23.82.5

187.3

108.973.335.678.3

28.522.28.8

11.33.83.80

7.2

4.92.4

1988

298.0

83.9

72.929.312.48.44.26.0

12.511.0

10.9

4.43.92.6

196.1

113.276.037.282.9

30.723.88.9

11.83.74.00

7.0

4.72.4


1988

I

297.4

83.2

71.729.811.28.34.55.8

12.011.5

10.6

4.33.72.5

196.9

113.376.037.483.6

30.824.29.1

11.83.44.0.3

6.6

4.22.4

II

298.0

83.7

72.529.112.58.04.26.0

12.611.2

11.4

4.44.62.5

195.5

112.975.837.182.6

30.223.99.0

11.93.63.9.1

7.4

5.02.4

m

296.1

83.7

73.027.912.78.14.35.8

14.210.7

10.5

4.33.52.7

194.7

113.076.236.981.7

30.323.48.5

11.93.93.9-.3

7.2

4.92.3

IV

300.5

85.1

74.330.513.39.33.76.5

10.910.7

11.1

4.73.82.6

197.4

113.776.237.683.6

31.423.69.1

11.73.83.9.1

7.0

4.62.4

1989

I

298.7

82.7

72.927.712.910.23.75.9

12.59.8

10.8

4.63.62.7

198.8

119.179.140.079.8

29.822.38.9

11.43.63.70

6.3

4.02.2

I?

301.3 National defense purchases

82.8 Durable goods

72.2 Military equipment26.0 Aircraft . .14.3 Missiles9.0 Ships3.4 Vehicles6.3 Electronic equipment

13.1 Other10.6 Other durable goods

11.7 Nondurable goods

4.6 Petroleum products

2.9 Other nondurable goods

200.5 Services

1 19.4 Compensation of employees79.0 Military40.4 Civilian81.2 Other services

Contractual research and30 2 development22.8 Installation support '9.0 Weapons support2

11.6 Personnel support3

3.8 Transportation of materiel3.9 Travel of persons- 2 Other

6.3 Structures

3.9 Military facilities2.4 Other . . . .

1987

265.2

88.8

73.331.612.87.45.15.5

10.915.5

14.5

8.33.92.3

155.9

89.560.529.066.4

24.817.57.78.74.13.70

6.0

4.02.0

1988

261.5

84.6

70.829.013.57.14.55.6

11.213.8

14.3

7.94.12.2

156.9

89.160.029.167.8

25.518.27.68.93.93.80

5.7

3.71.9


1988

I

263.0

84.2

69.629.212.27.14.75.4

11.014.6

14.3

8.14.02.2

159.0

89.860.529.369.3

26.118.67.88.93.64.0.2

5.4

3.51.9

II

262.5

85.0

71.028.414.26.74.65.7

11.414.1

14.7

7.84.82.1

156.8

88.859.828.968.0

25.218.47.79.03.83.7.1

6.0

4.11.9

m

258.8

84.3

70.927.913.66.74.65.4

12.713.4

13.4

7.33.72.3

155.4

88.759.928.766.8

25.117.87.38.94.23.7-.2

5.8

3.91.9

IV

261.6

85.0

71.830.414.17.83.96.09.7

13.2

14,7

8.64.02.2

156.4

89.159.829.367.3

25.717.87.68.63.93.7.1

5.4

3.51.9

1989

I

254.4

82.1

69.726.614.48.44.05.4

10.912.4

13.9

7.83.82.3

153.5

89.559.729.864.0

24.416.87.48.33.63.40

4.8

3.01.7

I?

255.8

82.8

69.425.915.57.33.65.7

11.413.4

14.5

7.84.32.4

153.7

89.459.529.964.3

24.116.97.58.43.93.6-.1

4.7

2.91.8

1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractorsto operate installations.

2. Includes depot maintenance and contractual services for weapons systems, other than research anddevelopment.

3. Includes compensation of foreign personnel, consulting, training, and education.

Table 4.1.—Foreign Transactions in the National Income and Product Accounts



2. Includes depot maintenance and contractual services for weapons systems.3. Includes compensation of foreign personnel, consulting, training, and education.

Table 4.2.—Exports and Imports of Goods and Services in Constant Dollars


Receipts from foreigners '

Exports of goods and services 'Merchandise 2

Durable goods 2

Nondurable goods...Services '

Factor income 3 4

Other5 . . . .

Capital grants received by the UnitedStates (net) .

Payments to foreigners 6

Imports of goods and services 6

Merchandise 2

Durable goods 2

Nondurable goodsServices 6

Factor income 3

Other7 . . .

Transfer payments (net)From persons (net)From government (net)

Interest paid by government to

Net foreign investment ,

1987

448.6

448.6255.1158.596.6

193.596.697.0

0

448.6

561.2412.4264.2148.3148.866.182.7

14.31.9

12.4

24.1

-150.9

1988

547.7

547.7322.0202.2119.7225.7116.7108.9

0

547.7

621.3449.0294.5154.5172.383.488.9

14.71.9

12.9

29.1

-117.5


1988

I

521.6

521.6305.0196.1108.9216.6112.1104.5

0

521.6

604.3439.0284.6154.4165.375.689.7

13.52.1

11.4

26.6

-122.8

II

532.5

532.5314.4201.4113.0218.1

.111.3106.9

0

532.5

607.5439.5286.9152.6168.081.386.7

11.71.5

10.2

28.4

-115.0

m

556.8

556.8327.5208.5119.0229.3118.1111.2

0

556.8

623.0448.8294.0154.8174.285.988.3

13.61.9

11.7

30.2

-109.9

IV

579.7

579.7341.0221.3119.7238.6125.5113.2

0

579.7

650.5468.8312.6156.3181.691.090.6

20.21.9

18.2

31.1

-122.0

1989

I

605.6

605.6358.7231.4127.2246.9131.9115.1

0

605.6

659.6469.8309.6160.3189.897.3915

13.82.2

11.5

32.5

-100.3

I?

626.1

626.1372.1239.1133.0254.0136.2117.8

0

626.1

676.6480.0308.0172.0196.6105.291.4

12.51.4

11.1

34.4

-97.5

Exports of goods and services 1

Merchandise 2...Durable goods 2

Nondurable goods

Services 'Factor income 3 4

Other5

Imports of goods and services 6

Merchandise2

Durable goods 2 . .Nondurable goods

Services6

Factor income 3

Other7

1987

450.9

285.7185.899.8

165.281.184.1

566.6

440.5261.8178.7

126.154.571.5

1988

530.1

344.3234.0110.4

185.894.791.1

605.0

467.1280.8186.3

137.966.671.3


1988

I

517.4

335.6225.4110.2

181.892.789.1

595.6

460.1275.6184.5

135.561.474.1

II

519.7

339.0228.2110.8

180.690.889.8

592.3

456.5274.5182.1

135.865.270.5

III

531.9

344.1234.2109.9

187.895.392.5

606.9

468.3281.8186.6

138.568.270.3

IV

551.4

358.6248.0110.5

192.8100.092.8

625.2

483.4291.3192.1

141.971.470.4

1989

I

569.7

372.5254.0118.5

197.2104.093.2

624.6

477.4290.7186.7

147.275.771.6

Ur

587.5

386.9262.8124.1

200.6106.194.5

638.7

487.5296.1191.4

151.180.970.2

1. See footnote 5 and the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.2. Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which

was reclassified to "other" services.3. Line 7 less line 16 equals rest-of-the-world product as shown in table 1.7.4. Estimates beginning with the first quarter of 1986 exclude noninterest income of banks, which was

reclassified to "other" services.5. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical

services and incorporate improved measurement of telecommunications services and insurance services;incorporate new source data on travel and passenger fares; cover foreign students' expenditures in the UnitedStates; cover repairs and alterations of equipment; and cover noninterest income of banks.

6. See footnote 7 and the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.7. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical

services and incoiporate improved measurement of telecommunications services and insurance services;incorporate new source data on travel and passenger fares; cover U.S. students' expenditures abroad; coverrepairs and alterations of equipment.

1. See footnote 5 and the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.2. Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which

was reclassified to "other" services.3. Line 6 less line 13 equals rest-of-the-world product as shown in table 1.8.4. Estimates beginning with the first quarter of 1986 exclude noninterest income of banks, which was

reclassified to "other" services.5. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical

services and incorporate improved measurement of telecommunications services and insurance services;incorporate new source data on travel and passenger fares; cover foreign students' expenditures in the UnitedStates; cover repairs and alterations of equipment; and cover noninterest income of banks.

6. See footnote 7 and the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.7. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical

services and incorporate improved measurement of telecommunications services and insurance services;incorporate new source data on travel and passenger fares; cover U.S. students' expenditures abroad; coverrepairs and alterations of equipment.



Table 4.3.—Merchandise Exports and Imports by Type of Product and by End-Use Category


Table 4.4.—Merchandise Exports and Imports by Type of Product and by End-Use Category in Constant Dollars


Merchandise exports *

Foods feeds, and beveragesIndustrial supplies and materials

Durable goodsNondurable goods

Capital goods, except autosAutosConsumer goods


Other 'Durable goods l 2

Nondurable goods 2

Merchandise imports !

Foods, feeds, and beveragesIndustrial supplies and materials,

excluding petroleumDurable goodsNondurable goods

Petroleum and productsCapital goods, except autosAutosConsumer goods


Other1

Durable goods ' 2...,Nondurable goods 2

Addenda:

Exports of agricultural products 3

Exports of nonagricultural products ....Imports of nonpetroleum products

1987

255.1

24.866.320.346.087.727.518.37.7

10.630.518.512.0

412.4

24.8

65.935.030.842.985.185.288.849.039.819.79.89.8

29.5225.5369.5

1988

322.0

32.983.027.955.1

112.432.524.211.013.237.023.114.0

449.0

24.9

76.440.935.639.3

101.887.996.452.843.622.311.211.2

38.1283.8409.7


1988

I

305.0

30.278.525.153.4

107.532.822.19.9

12.233.920.813.1

439.0

26.0

74.640.034.640.396.286.594.251.342.921.310.610.6

36.1268.9398.8

II

314.4

32.281.727.853.9

109.331.123.210.312.836.922.914.0

439.5

23.8

74.239.335.041.0

101.085.393.050.742.321.210.610.6

37.6276.8398.5

III

327.5

34.885.228.656.6

112.931.924.911.513.437.823.614.2

448.8

24.8

76.340.136.239.1

102.787.096.553.043.522.511.211.2

39.7287.8409.7

IV

341.0

34.686.430.256.3

119.734.326.612.214.439.524.914.5

468.8

25.1

80.644.136.536.9

107.193.0

101.856.145.624.412.212.2

39.2301.9432.0

1989

I

358.7

38.692.632.560.1

123.435.529.915.114.838.725.013.7

469.8

25.1

80.243.536.643.4

108.791.398.454.743.722.711.411.4

43.1315.6426.4

IF

372 1 Merchandise exports '

37.9 Foods, feeds, and beverages99.0 Industrial supplies and materials340 Durable goods65 0 Nondurable goods

129 3 Capital goods except autos34 4 Autos

165 D hi onri15 7 No d r hi od<?39 3 other >24.9 Durable goods ' 2

480.0 Merchandise imports '

Industrial supplies and materials,78.1 excluding petroleum42 5 Durable CToods35 6 Nondurable goods53.8 Petroleum and products

113.9 Capital goods, except autos84 8 Autos

101 2 Consumer goods55 2 Durable goods460 Nondurable goods23 1 Other '115 Durable goods J 2

115 Nondurable goods 2

Addenda:

43.4 Exports of agricultural products 3

328.7 Exports of nonagricultural products ....426.3 Imports of nonpetroleum products

1987

285.7

30.169.421.348.2

112.624.317.17.69.5

32.020.012.0

440.5

23.9

73.539.334.378.2

102.167.877.243.833.317.88.98.9

34.9250.7362.3

1988

344.3

33.179.726.852.9

144.328.121.710.311.437.524.513.0

467.1

22.7

73.739.534.286.2

121.266.478.244.333.918.79.49.4

37.6306.7380.9


1988

I

335.6

34.277.624.852.8

139.828.820.09.4

10.635.222.612.6

460.1

23.8

75.040.334.783.2

116.066.577.443.733.718.29.19.1

39.4296.3376.9

II

339.0

34.379.026.852.2

140.227.220.99.8

11.137.424.213.2

456.5

21.7

71.938.233.784.9

120.464.875.142.232.917.88.98.9

38.8300.2371.7

in

344.1

32.080.527.053.5

144.627.322.310.711.637.424.512.9

468.3

22.5

72.738.334.486.4

123.665.778.644.733.818.99.49.4

36.2307.9381.9

IV

358.6

31.981.828.553.2

152.429.223.611.312.339.726.613.1

483.4

22.7

75.141.134.090.3

124.868.881.746.635.120.010.010.0

36.2322.3393.1

1989

I

372.5

36.188.731.257.5

152.729.926.013.712.339.026.512.5

477.4

22.9

72.739.433.387.9

129.567.478.545.233.318.69.39.3

40.1332.4389.5

II'

386.9

36.294.132.361.8

160.429.028.014.913.139.226.213.1

487.5

23.1

71.238.832.491.6

138.863.280.745.934.819.09.59.5

40.7346.2395.9

1. Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which 1. Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, whichwas reclassified to services other than factor income. was reclassified to services other than factor income.

2. Because no data are available to distribute exports and imports of "other" merchandise between durable 2. Because no data are available to distribute exports and imports of "other" merchandise between durableand nondurable goods prior to 1986, or to distribute imports of "other" merchandise for all time periods, and nondurable goods prior to 1986, or to distribute imports of "other" merchandise for all time periods,estimates were distributed equally. estimates were distributed equally.

3. Includes parts of line 2 and line 5. 3. Includes parts of line 2 and line 5.

NOTE.—Beginning with 1985, the definitions of the end-use categories have been changed. For adescription of the new definitions, see the technical notes in "U.S. International Transactions, First Quarter1988," SURVEY OF CURRENT BUSINESS 68 (June 1988): 34-39 and 57.

NOTE.—Beginning with 1985, the definitions of the end-use categories have been changed. For adescription of the new definitions, see the technical notes in "U.S. International Transactions, First Quarter1988," SURVEY OF CURRENT BUSINESS 68 (June 1988): 34-39 and 57.

Table 5.1.—Gross Saving and Investment


Gross savin

Gross private savingPersonal savingUndistributed corporate profits with

inventory valuation and capitalconsumption adjustmentsUndistributed profitsInventory valuation adjustmentCapital consumption adjustment

Corporate capital consumptionallowances with capitalconsumption adjustment

Noncorporate capital consumptionallowances with capitalconsumption adjustment

Wage accruals less disbursements

Government surplus or deficit (-),national income and productaccounts .FederalState and local

Capital grants received by theUnited States (net)

Gross investment

Gross private domestic investmentNet foreign investment


1987

553.8

663.8101.8

75.343.3

-18.950.9

303.1

183.60

-110.1-161.4

51.3

0

549.0

699.9-150.9

-4.7

1988

642.4

738.6144.7

80.358.5

-25.046.8

321.7

191.90

-96.1-145.8

49.7

0

632.8

750.3-117.5

-9.6


1988

I

619.1

720.0131.9

83.454.2

-20.749.9

314.9

189.80

-101.0-151.8

50.8

0

605.9

728.8-122.8

-13.1

II

633.4

722.5134.0

78.358.3

-28.848.9

319.0

191.20

-89.1-141.5

52.4

0

633.4

748.4-115.0

-.1

III

669.8

742.4149.6

77.661.1

-30.446.9

323.1

192.10

-72.7-122.5

49.8

0

661.2

771.1-109.9

-8.6

IV

647.4

769.3163.4

81.760.4

-20.141.5

329.7

194.40

-121.9-167.6

45.7

0

630.8

752.8-122.0

-16.6

1989

I

693.5

792.1205.7

53.455.1

-38.336.6

335.2

197.80

-98.7-147.5

48.8

0

669.3

769.6-100.3

-24.1

I?

695.8

793.7200.7

52.040.2

-20.532.3

339.7

201.30

-97.9-145.4

47.5

0

677.5

775.0-97.5

-18.3


September 1989 SURVEY OF CURRENT BUSINESS 11

Table 5.8.—Change in Business Inventories by Industry


Table 5.9.—Change in Business Inventories by Industry in Constant Dollars


Change in businessinventories

NonfarmChange in book valueInventory valuation adjustment '

Manufacturing .Durable goodsNondurable goods

Wholesale tradeDurable goodsNondurable goods

Merchant wholesalersDurable goods ,Nondurable goods

Nonmerchant wholesalersDurable goodsNondurable aoods

Retail tradeDurable goods

AutomotiveOther

Nondurable goods

Other.Durable goodsNondurable goods

1987

29.3

-1.3

30.556.2

-25.7

4.43.31.2

5.73.81.9

5.73.52.2

0.3

-.3

16.813.29.24.03.7

3.61.81.8

1988

30.6

-3.6

34.270.6

-36.4

9.18.7.4

8.97.31.6

7.76.01.7

1.21.3-.1

8.36.13.13.12.1

7.92.95.0


1988

I

30.0

5.8

24.254.5

-30.3

10.57.62.9

17.215.32.0

16.014.02.0

1.21.20

-9.6-14.5-17.0

2.54.9

6.11.34.8

II

29.3

-1.1

30.472.3

-41.9

4.55.0-.5

4.2-4.3

8.5

4.9-4.1

9.1

-.8-.2-.6

13.913.411.51.8.6

7.72.94.9

m

44.6

3.1

41.584.4

-42.8

6.67.5-.9

9.716.1-6.3

7.414.1-6.7

2.31.9.4

15.114.210.04.2

.9

10.13.66.4

'IV

18.7

-22.2

40.871.2

-30.4

14.914.6

.3

4.52.22.3

2.4-.22.6

2.12.4-.3

13.611.47.73.72.1

7.93.84.1

1989

I

27.7

8.6

19.176.8

-57.8

4.510.2-5.7

.61.2

-5.9

-4.11.7

-5.8

-.5-.4-.1

9.97.3

10.6-3.3

2.6

9.33.36.0

IF

27.4

3.8

23.654.5

-30.9

9.85.34.5

6.16.9-.9

6.47.7

-1.3

-.4-.8

.4

3.1-5.4-3.6-1.8

8.4

4.6-.95.5

1. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that adjusts businessincomes. The IVA in this table reflects the mix of methods (first-in, first-out; last-in, first-out; etc.)underlying book value inventories derived primarily from Census Bureau statistics. This mix differs from thatunderlying business income derived primarily from Internal Revenue Service statistics.

Table 5.10.—Inventories and Final Sales of Business by Industry


Inventories l .

Nonfarm .Durable ^cods .Nondurable goods

Manufacturing . .

Nondurable goods

Wholesale tradeDurable goodsNondurable goods

Merchant wholesalersDurable goodsNondurable goods ...



AutomotiveOther

Nondurable goods

Other . .. .

Final sales 2

Final sales of goods and structures 2

Ratio of inventories to final sales

Nonfarm inventories to final sales .. ..Nonfarm inventories to final sales of goods and

Seasonally adjusted quarterly totals

1988

I

937.8

71.0

866.7510.5356.3

347.7231.4116.3

204.9133.171.8

179.1117.761.4

25.815.410.4

207.1104.251.053.2

102.9

107.0

333.1189.6

2.822.60

4.57

II

962.0

75.0

887.0520.3366.7

354.9236.1118.7

210.1133.376.8

184.0117.766.3

26.015.610.5

212.5108.154.054.0

104.5

109.5

341.0194.7

2.822.60

4.55

in

985.3

77.6

907.7535.5372.2

360.8240.5120.4

215.7138.677.1

188.9122.466.5

26.816.210.6

218.2112.356.955.4

105.9

113.0

345.8196.8

2.852.62

4.61

IV

1,004.0

75.7

928.3549.5378.7

368.6246.9121.7

218.6140.777.9

191.0123.767.3

27.617.010.6

223.7116.259.456.8

107.4

117.4

354.4202.4

2.832.62

4.59

1989

I

1,026.6

78.2

948.4561.8386.6

376.5253.2123.4

221.6142.978.7

193.1125.867.4

28.517.111.3

229.0119.062.356.7

110.0

121.2

360.0205.4

2.852.63

4.62

IF

1,033.9

77.4

956.5564.3392.2

378.2254.0124.1

223.8145.278.6

195.4128.367.1

28.416.911.5

231.3118.361.556.8

113.0

123.3

366.6208.9

2.822.61

4.58

1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated fromcurrent-dollar inventories in this table is not the current- dollar change in business inventories (CBI)component of GNP. The former is the difference between two inventory stocks, each valued at theirrespective end-of-quarter prices. The latter is the change in the physical volume of inventories valued ataverage prices of the quarter. In addition, changes calculated from this table are at quarterly rates, whereasGBI is stated at annual rates.

2. Quarterly totals at monthly rates. Business final sales equals final sales less gross product of householdsand institutions, government, and rest of the world, and includes a small amount of final sales by farms.

Change in businessinventories

Farm

Nonfarm

Manufacturing. .Durable goodsNondurable goods

Wholesale trade ..Durable goodsNondurable goods

Merchant wholesalersDurable goodsNondurable goods

Nonmerchant wholesalersDurable goodsNondurable goods


AutomotiveOther .

Nondurable goods ..

OtherDurable goodsNondurable goods

1987

23.7

-2.1

25.8

3.32.7

.7

^ 4.43.41.0

4.73.21.5

'.3-.5

15.111.88.13.73.3

2.91.71.2

1988

27.9

-2.8

30.7

8.58.2.3

8.56.61.9

7.55.42.1

1.01.2-.3

7.35.42.62.81.9

6.52.54.0


1988

I

34.3

5.9

28.3

11.97.24.7

19.314.15.2

18.112.95.2

1.21.20

-8.0-12.5-14.8

2.34.4

5.21.24.0

II

21.5

-4.0

25.4

4.25.0-.8

2.8-3.9

6.7

4.1-3.77.8

-1.3-.2

-1.1

12.211.710.01.7.5

6.22.53.7

m

37.5

.3

37.2

5.87.4

-1.6

9.814.3-4.5

7.412.5-5.2

2.51.8.7

13.312.58.63.9.8

8.33.15.2

IV

18.3

-13.6

31.9

12.213.2-1.0

1.91.90

.4-.3

.7

1.52.2-.7

11.69.86.63.21.9

6.23.23.0

1989

I

24.5

7.6

16.9

3.88.3

-4.5

-2.41.0

-3.4

-2.11.5

-3.5

-.4-.5

.1

8.46.19.0

-2.92.3

7.12.74.4

IF

19.1

-.5

19.5

8.34.14.2

4.56.2

-1.7

5.27.0

-1.7

-.8-.80

2.6-4.6-3.0

1 57.2

4.1-.84.9

Table 5.11.—Inventories and Final Sales of Business by Industry in ConstantDollars


Inventories * ,

Farm ,

NonfarmDurable goodsNondurable goods

ManufacturingDurable goodsNondurable goods

Wholesale tradeDurable goods . ..Nondurable goods .

Merchant wholesalersDurable goods ...Nondurable goods

Nonmerchant wholesalersDurable goods ...


Automotive. ...Other

Nondurable goods

Other 4 . ..

Final sales2

Final sales of goods and structures 2

Ratio of inventories to final sales

Nonfarm inventories to final salesNonfarm inventories to final sales of goods and

structures

Seasonally adjusted quarterly totals

1988

I

871.2

72.1

799.0456.5342.6

321.8209.0112.8

189.9118.771.2

164.1104.959.2

25.813.812.0

184.492.344.348.192.0

103.0

283.5173.9

3.072.82

4.60

II

876.5

71.1

805.4460.3345.1

322.8210.2112.6

190.6117.772.8

165.1104.061.1

25.513.711.7

187.495.346.848.592.1

104.6

287.7177.2

3.052.80

4.54

III

885.9

71.2

814.7469.6345.1

324.3212.1112.2

193.0121.371.7

166.9107.159.8

26.114.211.9

190.798.448.949.592.3

106.7

288.5177.0

3.072.82

4.60

IV

890.5

67.8

822.7476.7346.0

327.3215.4111.9

193.5121.871.7

167.0107.060.0

26.514.711.7

193.6100.850.650.392.8

108.2

291.9179.5

3.052.82

4.58

1989

I

896.6

69.7

826.9481.2345.7

328.3217.5110.8

192.9122.070.9

166.5107.459.1

26.414.611.8

195.7102.352.849.593.4

110.0

294.3181.4

3.052.81

4.56

IF

901.4

69.6

831.8482.4349.4

330.4218.5111.9

194.0123.670.4

167.8109.158.7

26.214.411.8

196.4101.252.049.295.2

111.0

296.8182.8

3.042.80

4.55

1. Inventories are as of the end of the quarter. Quarter-to-quarter changes calculated from this table are atquarterly rates, whereas the constant-dollar change in business inventories component of GNP is stated atannual rates.

2. Quarterly totals at monthly rates. Business final sales equals final sales less gross product of householdsand institutions, government, and rest of the world, and includes a small amount of final sales by farms.



Table 5.12.—Fixed Investment by Type


Table 5.13.—Fixed Investment by Type in Constant Dollars


Fixed investment

Nonresidential

StructuresNonresidential buildings,

excluding farm .Public utilitiesMining exploration, shafts, and

wellsOther

Producers' durable equipmentInformation processing and

related equipmentIndustrial equipmentTransportation and related

equipmentOther

ResidentialSingle-family structuresMultifamily structuresOther

1987

670.6

444.3

133.8

92.624.6

11.55.1

310.5

104.271.1

67.667.6

226.4114.426.685.4

1988

719.6

487.2

140.3

97.826.1

12.04.5

346.8

114.781.9

76.373.9

232.4116.523.392.6


1988

I

698.7

472.7

137.1

95.624.5

12.34.7

335.6

110.876.2

74.574.1

226.1115.224.186.7

II

719.1

487.1

139.9

98.924.6

12.24.2

347.2

116.080.5

76.774.0

232.1116.622.792.8

III

726.5

493.2

142.0

98.726.8

12.34.1

351.3

116.983.0

77.474.0

233.2115.123.195.0

IV

734.1

495.8

142.5

97.928.6

11.04.9

353.3

115.187.8

76.773.7

238.4119.223.495.8

1989

I

742.0

503.1

144.7

101.328.8

9.74.8

358.5

117.892.2

72.276.3

238.8121.524.193.2

IP

747.6

512.5

142.4

98.528.5

9.95.5

370.1

122.790.7

77.679.0

235.1114.825.095.3

Table 6.3B.—National Income Without Capital Consumption Adjustment byIndustry


National income withoutcapital consumptionadjustment

Domestic industries

Private industries

Agriculture, forestry, and fisheries-MiningConstruction .. .

ManufacturingDurable goodsNondurable goods

Transportation and public utilities-TransportationCommunicationElectric, gas, and sanitary

services

Wholesale tradeRetail tradeFinance, insurance, and real estate..Services

Government and governmententerprises.. . . . .

Rest of the world

1987

3,638.3

3,607.8

3,078.5

90.830.5

197.2

718.7422.9295.8

278.7120.080.6

78.1

214.9313.3520.0714.4

529.3

30.5

1988

3,952.8

3,919.5

3,352.6

90.434.4

211.2

788.6455.0333.6

300.2131.183.6

85.5

234.5335.6568.8789.0

566.9

33.3


1988

I

3,831.0

3,794.5

3,239.4

95.034.3

204.0

767.1439.6327.5

286.9124.881.1

81.0

227.4326.4546.2752.2

555.1

36.5

II

3,911.7

3,881.7

3,318.9

96.134.5

210.4

781.1453.6327.5

298.1131.083.1

84.0

229.2333.1558.1778.2

562.8

30.0

III

3,985.2

3,953.0

3,382.0

88.034.8

213.2

789.9457.4332.6

304.7133.684.5

86.5

236.5338.5576.4800.0

571.0

32.3

IV

4,083.4

4,048.9

3,470.1

82.533.9

217.4

816.1469.2346.9

311.1134.985.7

90.6

244.9344.2594.5825.5

578.8

34.5

1989

I

4,178.4

4,143.9

3,549.6

109.535.0

220.5

817.1469.9347.2

314.5137.187.8

89.7

244.7346.6613.3848.3

594.3

34.5

IP

4,249.8

4,218.9

3,616.8

102.737.2

221.6

818.2466.7351.5

321.4140.090.0

91.4

251.6353.9633.3876.9

602.0

31.0

Fixed investment

Nonresidential

StructuresNonresidential buildings,

excluding farm .Public utilitiesMining exploration, shafts, and

wellsOther

Producers' durable equipmentInformation processing and

related equipmentIndustrial equipmentTransportation and related

equipmentOther

ResidentialSingle-family structuresMultifamily structuresOther

1987

650.3

455.5

122.3

77.122.5

18.24.4

333.2

152.961.9

58.959.6

194.897.422.774.7

1988

687.9

493.8

122.2

78.722.6

17.23.7

371.6

174.268.4

65.763.3

194.196.219.378.6


1988

I

672.7

483.6

121.8

77.421.6

18.84.0

361.8

168.264.5

65.064.1

189.195.119.974.2

II

692.0

497.8

122.5

79.921.4

17.63.5

375.3

177.767.6

66.563.4

194.296.718.878.7

in

696.1

501.0

123.0

79.323.0

17.33.4

378.0

178.669.5

66.763.2

195.195.319.180.7

IV

690.8

492.7

121.4

78.124.2

15.04.1

371.3

172.272.0

64.762.4

198.197.919.280.9

1989

I

696.6

501.0

121.1

79.824.5

12.93.9

379.9

180.374.9

60.763.9

195.698.319.577.8

IP

700.7

511.4

118.1

76.624.0

13.14.5

393.2

189.173.5

64.865.7

189.391.119.878.4

Table 6.18B.—Corporate Profits by Industry


Corporate profits with inventoryvaluation and capital consumptionadjustments ... .

Domestic industries

FinancialNonfinancial . .

Rest of the world

Corporate profits with inventoryvaluation adjustment

Domestic industries ,

Federal Reserve banksOther

Manufacturing

Durable goodsPrimary metal industriesFabricated metal products

Electric and electronic equipmentMotor vehicles and equipmentOther

Nondurable goodsFood and kindred productsChemicals and allied productsPetroleum and coal productsOther

Transportation and public utilitiesWholesale and retail tradeOther

Rest of the world

1987

298.7

259.6

35.0224.6

39.1

247.8

208.7

30.516.014.5

178.2

76.6

34.43.65.03.43.43.3

15.8

42.212.210.5-1.921.4

34.641.125.9

39.1

1988

328.6

285.0

35.7249.3

43.7

281.8

238.2

29.818.111.7

208.4

98.4

38.16.46.14.84.62.4

13.8

60.315.717.43.7

23.5

39.340.130.6

43.7


1988

I

318.1

275.7

33.7241.9

42.4

268.1

225.7

27.717.310.4

198.0

94.6

32.84.77.44.31.1.9

14.4

61.815.316.04.2

26.2

33.742.227.6

42.4

n

325.3

284.6

35.9248.7

40.7

276.4

235.8

29,717.412.3

206.1

98.2

41.36.66.56.74.81.0

15.6

57.015.515.91.6

24.0

39.237.331.3

40.7

m

330.9

285.9

37.5248.3

45.1

284.1

239.0

31.618.313.3

207.3

95.1

38.36.84.86.05.83.2

11.8

56.814.915.63.8

22.5

40.839.232.2

45.1

IV

340.2

293.7

35.5258.2

46.5

298,7

252.2

30.119.310.8

222.1

105.5

39.87.45.92.16.64.5

13.4

65.717.222.05.3

21.2

43.541.831.3

46.5

1989

I

316.3

269.7

34.4235.3

46.6

279.7

233.1

29.320.39.0

203.9

96.5

35.66.57.22.04.43.0

12.4

60.917.418.51.2

23.8

41.634.131.7

46.6

IP

307.8

264.2

33.6230.5

43.6

275.5

231.8

28.621.27.4

203.2

90.3

31.56.66.72.85.1

-1.912.2

58.814.818.11.0

24.9

40.836.935.2

43.6


September 1989 SURVEY OP CURRENT BUSINESS 13

Table 7.1.—Fixed-Weighted Price Indexes for Gross National Product, 1982Weights

[Index numbers, 1982=100]


Personal consumption expenditures

Durable goodsNondurable goodsServices


Fixed investment ..Nonresidential .



Net exports of goods and services

ExportsImports .

Government purchases of goods and services....

FederalNational defenseNondefense

State and local

Addenda:

Final salesPersonal consumption expenditures, foodPersonal consumption expenditures, energyOther personal consumption expenditures

1987

119.1

120.7

110.3112.6129.4

107.8105.4101.7107.8115.9

105.6101.2

119.6

113.3113.8112.0124.3

118.9117.291.7

125.2

1988

124.1

125.9

112.9117.2135.5

111.3109.0107.1110.2119.5

111.2106.3

125.1

117.9117.9118.0130.4

124.0122.292.4

131.0

Seasonally adjusted

1988

I

121.9

123.6

111.9114.7133.2

110.1107.5105.1109.1119.2

108.1104.5

123.1

116.3116.6115.6128.1

121.8119.491.5

128.7

II

123.3

125.1

112.4116.6134.7

111.0108.6106.5109.9119.3

110.0106.1

124.4

117.4117.7116.7129.6

123.2121.092.3

130.3

m

124.9

126.6

113.2118.1136.2

111.5109.3107.9110.2119.3

112.6106.2

125.9

118.7118.3119.7131.2

124.8123.592.8

131.5

IV

126.2

128.1

114.1119.4138.1

112.7110.5109.1111.5120.1

113.3107.3

126.9

119.3119.0120.0132.6

126.1124.992.9

133.3

1989

I

127.7

129.6

114.7121.0139.8

114.1111.8110.5112.7121.8

113.7109.5

129.4

122.3122.0123.0134.7

127.6126.694.0

134.8

IF

129.3

131.6

114.7124.5141.1

115.2112.6111.6113.3123.9

114.6111.1

130.5

122.7122.5123.2136.2

129.2129.0100.6136.1


Table 7.2.—Fixed-Weighted Price Indexes for Gross National Product byMajor Type of Product, 1982 Weights




Goods

Final sales...


Nondurable goodsFinal salesChange in business inventories

Services

Structures

1987

119.1

118.9

111.0

110.8

107.1107.0

113.7113.5

127.9

109.1

1988

124.1

124.0

115.1

115.0

108.2108.3

119.8119.5

133.7

113.7

Seasonally adjusted

1988

I

121.9

121.8

112.8

112.6

107.4107.4

116.4116.2

131.5

112.3

n

123.3

123.2

114.3

114.1

107.8107.9

118.6118.4

133.0

113.2

III

124.9

124.8

116.2

116.0

108.7108.7

121.3121.0

134.4

114.2

IV

126.2

126.1

117.3

117.1

109.1109.2

122.8122.5

136.0

115.2

1989

I

127.7

127.6

118.1

118.0

109.9110.1

123.6123.4

138.0

116.8

IF

129.3

129.2

120.0

119.8

110.6110.8

126.3126.1

139.4

118.2

Table 7.3.—Fixed-Weighted Price Indexes for Relation of Gross NationalProduct, Gross Domestic Purchases, and Final Sales to Domestic Purchasers,1982 We ights



Less* Exports of goods and services

Equals' Gross domestic purchases 1

Less* Change in business inventories.

Equals: Final sales to domestic purchasers2

1987

119.1

105.6101.2

118.7

118.6

1988

124.1

111.2106.3

123.7

123.5

Seasonally adjusted

1988

I

121.9

108.1104.5

121.6

121.5

n

123.3

110.0106.1

123.0

122.9

III

124.9

112.6106.2

124.3

124.2

IV

126.2

113.3107.3

125.7

125.6

1989

I

127.7

113.7109.5

127.4

127.3

IF

129.3

114.6111.1

129.1

128.9

1. Purchases in the United States of goods and services wherever produced.2. Final sales in the United States of goods and services wherever produced.




Table 7.4.—Implicit Price Deflators for Gross National Product[Index numbers, 1982=100]


Personal consumption expenditures.

Durable goods .Nondurable goodsServices


Fixed investmentNonresidential .

StructuresProducers' durable equipment.. . . . .


Net exports of goods and services

ExportsImports

Government purchases of goods and services....

FederalNational defense ..

State and local

1987

117.4

119.8

108.1112.1129.0

103.197.5

109.493.2

116.2

99.599.0

118.5

112.4111.1116.7123.2

1988

121.3

124.5

110.1116.3134.9

104.698.7

114.993.3

119.7

103.3102.7

123.4

115.9114.0123.6128.8

Seasonally adjusted

1988

I

119.2

122.5

109.3114.0132.7

103.997.7

112.692.7

119.5

100.8101.5

122.0

115.5113.1126.2126.7

II

120.6

123.9

109.6115.9134.2

103.997.8

114.292.5

119.5

102.5102.6

122.6

115.0113.5121.0128.1

III

121.9

125.1

110.2117.1135.6

104.498.4

115.492.9

119.6

104.7102.7

123.5

114.9114.4117.1129.6

IV

123.3

126.5

111.2118.2137.3

106.3100.6117.395.2

120.4

105.1104.0

125.4

118.2114.9128.7130.8

1989

I

124.5

128.0

111.2120.0139.0

106.5100.4119.594.4

122.1

106.3105.6

127.1

118.9117.4123.8132.9

IIr

125.9

129.8

110.8123.3140.4

106.7100.2120.694.1

124.2

106.6105.9

127.5

118.2117.8119.2134.4


Table 7.5.—Implicit Price Deflators for Gross National Product by Major Typeof Product



Final sales

Goods .

Final sales

Durable goods ..Final sales .

Nondurable goodsFinal salesChange in business inventories

Services

117.4

1174

107.0

106.7

98.097.6

115.0114.7

127.8

114.0

121.3

121 4

109.0

109.0

97.296.9

120.8120.9

133.4

118.5

119.2

1195

106.9

107.3

97.096.9

116.3117.2

131.3

117.3

120.6

1206

108.5

108.1

97.296.9

119.7119.1

132.7

118.0

121.9

121.9

109.7

109.5

98.197.6

121.6121.2

134.0

118.8

123.3

1234

111.1

111.2

98.798.2

123.6123.8

135.5

120.0

124.5

124.6

111.4

111.4

99.298.7

123.4123.6

137.6

121.9

125.9

125.8

112.8

112.4

99.299.0

126.1125.7

138.9

123.4


Table 7.6.—Implicit Price Deflators for Gross National Product by Sector[Index numbers, 1982=100]



Business

Nonfarm less housing

Farm .Statistical discrepancy

Households and institutions

XT f f • jjt t-

GFederalStat" and local ,

Rest of the world

Addendum:

Gross domestic business product less housing...

117.4

117.4

115.71163114.8131.9921

115.7

131.610481336

128.0122.0130.9

119.0

114.3

1213

121.3

119.31196117.8138.31046119.3

137.010591391

134.51272138.1

123.3

117.6

119.2

119.3

117.21177116.0136.195.8

117.2

135.4105 1137.5

132.5126.5135.5

121.0

120.6

120.7

118.6118.9117.2137.2104.6118.6

136.1105.9138.2

133.9127.2137.2

122.5

121.9

121.9

119.9119.9118.1139.0117.3119.9

137.2106.1139.3

135.1127.5138.9

124.0

123.3

123.3

121.3121.6119.9140.8101.8121.3

139.1106.4141.3

136.4127.7140.7

125.5

124.5

124.5

122.3122.5120.7142.0113.0122.3

141.0107.0143.2

139.5133.1142.6

126.8

125.9

125.9

123.6123.8122.0143.3115.7123.6

142.4107.4144.7

140.9133.7144.4

128.3


Table 7.7.—Implicit Price Deflators for the Relation of Gross National Product,Net National Product, and National Income



Less: Capital consumption allowances withcapital consumption adjustment


Less: Indirect business tax and nontax liabilityplus business transfer payments less subsidiesplus current surplus of government enterprises..


Equals! National income

1987

117.4

105.6

119.0

118.6

115.7

119.0

1988

121.3

106.9

123.2

123.3

119.3

123.2

Seasonally adjusted

1988

I

119.2

106.8

120.9

121.7

117.2

120.8

n

120.6

106.9

122.5

120.9

118.6

122.7

m

121.9

106.7

123.9

125.9

119.9

123.7

IV

123.3

107.4

125.5

124.5

121.3

125.5

1989

I

124.5

108.0

126.8

126.5

122.3

126.8

IT

125.9

108.4

128.3

129.4

123.6

128.1

Table 7.8.—Implicit Price Deflators for Command-Basis Gross NationalProduct


Gross national product .

Less: Net exports of goods and servicesExports .Imports

Equals: Gross domestic purchases

Plus: Command-basis net exports of goods andservices

Command-basis exportsImports

Equals: Command-basis gross nationalproduct

1174

99599.0

116.8

99.0990

117.3

1213

10331027

120.9

102.71027

121.2

1192

100 8101 5

119.0

101.5101 5

119.3

1206

10251026

120.3

102 61026

120.7

1219

10471027

121.3

102.71027

121.6

1233

105 11040

122.8

10401040

123.1

1245

10631056

124.2

105.6105 6

124.4

1259

10661059

125.5

10591059

125.8


Table 7.9.—Fixed-Weighted Price Indexes for Personal ConsumptionExpenditures by Major Type of Product, 1982 Weights



Durable goods •.

Motor vehicles and partsFurniture and household equipmentOther

Nondurable goods

FoodClothing and shoesGasoline and oilOther nondurable goods

Fuel oil and coalOther .. ..

Services

HousingHousehold operation. .

Electricity and gas . . ..Other

TransportationMedical careOther

120.7

110.3

116.5102.11127

112.6

1172111.078.3

121 5766

1276

1294

130.01183111 91249120.4135 1132.2

125.9

112.9

118.6103.81185

117.2

1222115.879.1

127 5768

134.5

135.5

136.41199112.71274126.61445137.9

123.6

111.9

118.0102.91162

114.7

11941133778

125277 3

131 7

133.2

134.3118 7111 91257123.5140 1136.3

125.1

112.4

117.9103.5117 8

116.6

121 01168790

126978 6

1335

134.7

135311961121127 3126.6143 i137.2

126.6

113.2

118.9104.21188

118.1

1235115.180.4

1282775

135.2

136.2

137.11198112.01279127.61460138.2

128.1

114.1

119.5104.7121 1

119.4

1249117979.1

129 8739

1374

138.1

138.9121 71147128 8128.51485139.9

129.6

114.7

120.5104.81217

121.0

1266118.279.9

132 1776

139.4

139.8

140.2122 .411551295130.4151 3141.5

131.6

114.7

120.6104.11230

124.5

1290119.9927

1344802

1416

141.1

1414122411561294130.515351434

Table 7.14.—Fixed-Weighted Price Indexes for Exports and Imports of Goodsand Services, 1982 Weights


Exports of goods and services

MerchandiseDurable goodsNondurable goods

ServicesFactor incomeOther

Imports of goods and services

MerchandiseDurable goods.Nondurable goods

ServicesFactor incomeOther

105.6

97.4101 0927

1174119.8113 1

101.2

95 11098794

118.8119 11186

111.2

104.110431039

1213124.21163

106.3

995118080.0

126.01233128.1

108.1

100.7102698 2

1192121.81145

104.5

98 1115 7802

123.1121 01248

110.0

102.81039101 5

1207123.4115 8

106.1

997117 8812

124.912251267

112.6

1062105 1108 1

121 9124.81168

106.2

99 11178801

126.812401291

113.3

106.3105 51080

123 3126.41179

107.3

99 81205787

129.3125 51322

113.7

106.11058107 1

1248127.71196

109.5

1025121083.5

130.312681330

114.6

106810661067

126 1129.31204

111.1

10451199879

131.412841337



Table 7.15.—Fixed-Weighted Price Indexes for Merchandise Exports andImports by Type of Product and by End-Use Category, 1982 Weights


Table 7.16,—Fixed-Weighted Price Indexes for Government Purchases ofGoods and Services by Type, 1982 Weights


Merchandise exports

Foods feeds and beveragesIndustrial supplies and materials

Durable goodsNondurable goods .

Capital goods except autosAutos

Durable goods

Other

Nondurable goods. .

Merchandise imports

Foods feeds, and beveragesIndustrial supplies and materials, excluding

Durable goodsNondurable goods .

Petroleum and products . .Capital goods except autosAutosConsumer goods


OtherDurable goodsNondurable goods

1987

97.4

82.195.595.595.4

100.3113.3107.1101.7111.496.192.499.8

95.1

103.6

90.290.490.054.9

109.0125.7115.0111.8119.5110.3110.3110.3

1988

104.1

99.6104.1104.1104.0102.6115.6111.7106.4115.9101.094.2

107.7

99.5

109.9

104.1104.1104.045.6

115.3132.4123.1119.2128.7119.2119.2119.2

Seasonally adjusted

1988

I

100.7

88.2101.2101.2101.2101.2113.7110.7104.5115.598.092.1

103.8

98.1

109.1

99.9100.199.848.4

113.7130.1121.6117.5127.3116.7116.7116.7

II

102.8

94.0103.4103.4103.4102.2114.3111.1105.8115.3100.494.6

106.2

99.7

109.6

103.7103.8103.648.3

115.2131.7123.7120.1128.8119.0119.0119.0

III

106.2

109.0105.8105.8105.8102.8116.9111.8107.3115.3103.396.3

110.2

99.1

110.3

105.2105.2105.145.2

114.6132.4122.7118.4128.7119.2119.2119.2

IV

106.3

108.3105.7105.7105.7103.4117.6113.1107.8117.2102.293.8

110.5

99.8

110.6

107.4107.4107.440.8

118.0135.2124.4120.6129.9121.7121.7121.7

1989

I

106.1

106.8104.4104.4104.4103.7118.6115.8110.1120.3102.294.2

110.2

102.5

109.9

110.1110.0110.149.4

117.6135.5125.2121.0131.1122.5122.5122.5

IP

106.8

104.6105.2105.3105.2104.7118.7115.8110.7119.9102.895.1

110.5

104.5

108.9

109.3109.0109.658.7

116.3134.3125.3120.3132.3121.5121.5121.5

Table 7.17.—Fixed-Weighted Price Indexes for National Defense Purchases ofGoods and Services, 1982 Weights


National defense purchases

Durable goods

AircraftMissilesShins .. .. ..VehiclesElectronic equipmentOther

Other durable goods

Nondurable goods

Petroleum products

Services

Military ....Civilian

Contractual research and development

W D r t 2

Personnel support 3

Transportation of materielTravel of persons • • •Other

Structures

Military facilities .Other

1987

113.8

108.3

110.1109.9114.2120.989.7

106.4108.299.9

68.1

51.198.2

109.9

120.7

121.7121.2122.9118.5115.1126.8114.6146.092.5

103.7

120.4

121.0119.5

1988

117.9

109.3

110.8106.9117.7125.689.8

108.1111.9102.4

73.9

58.298.9

115.5

125.8

127.2126.7128.1123.2120.3130.6117.6156.594.6

107.2

124.2

125.3122.6

Seasonally adjusted

1988

I

116.6

108.2

109.8106.2118.1123.587.9

107.7109.8100.9

71.2

54.898.2

114.0

124.6

126.2125.6127.6121.4118.2129.1116.6155.093.6

103.4

121.6

121.4121.8

n

117.7

109.1

110.8107.7117.1124.989.5

107.2111.4101.6

73.9

58.698.5

114.5

125.6

127.2126.7128.1122.5119.9129.4116.7157.292.3

108.0

122.6

123.0122.0

m

118.3

109.6

111.0107.0117.4126.690.6

108.1112.3103.0

75.7

60.699.3

115.7

126.0

127.5127.1128.2123.2120.9131.2117.7152.693.4

108.5

123.8

124.5122.9

IV

119.0

110.1

111.4106.6118.1127.391.0

109.2113.9103.9

74.7

58.799.5

117.8

126.9

127.7127.3128.3125.5122.1132.8119.2161.299.0

108.8

128.8

132.3123.6

1989

I

122.0

112.2

113.8110.5118.7130.290.2

110.6115.2105.0

74.9

58.5101.1118.1

130.5

133.1132.6134.1125.5122.2132.8119.9157.999.8

111.9

130.8

132.5128.4

IF

122.5

111.5

112.8106.6119.7131.691.5

111.0116.0105.5

76.7

60.9102.1118.5

131.3

133.5132.8134.9127.1125.3135.0121.1155.697.5

111.5

132.1

133.2130.3

Government purchases of goods andservices . . .

Federal

National defenseDurable goodsNondurable goodsServices




Commodity Credit Corporation inventorychange

Other nondurables . . .Services

Compensation of employees ...Other services

Structures

State and local

Durable goodsNondurable goodsServices


Structures

1987

119.6

113.3

113.8108.368.1

120.7121.7121.2122.9118.5120.4

112.099.6

96.8120.1122.8115.8111.3

124.3

110.695.0

129.9130.6126.6114.5

1988

125.1

117.9

117.9109.373.9

125.8127.2126.7128.1123.2124.2

118.0101.6

98.6124.2127.5119.2115.2

130.4

113.497.3

136.7137.8131.6119.6

Seasonally adjusted

1988

I

123.1

116.3

116.6108.271.2

124.6126.2125.6127.6121.4121.6

115.6100.0

97.9123.3127.1117.6113.7

128.1

111.895.8

134.5135.6129.7117.6

n

124.4

117.4

117.7109.173.9

125.6127.2126.7128.1122.5122.6

116.710L3

98.7124.1127.5118.7114.5

129.6

112.997.1

136.2137.3131.2118.7

HI

125.9

118.7

118.3109.675.7

126.0127.5127.1128.2123.2123.8

119.7101.7

98.1124.5127.6119.7115.9

131.2

114.097.7

137.8139.0132.3120.4

IV

126.9

119.3

119.0110.174.7

126.9127.7127.3128.3125.5128.8

120.0103.3

99.8124.9127.7120.6116.6

132.6

115.098.4

139.5140.8133.4121.3

1989

I

129.4

122.3

122.0112.274.9

130.5133.1132.6134.1125.5130.8

123.0104.6

103.1128.9133.4122.1118.2

134.7

116.2101.8141.5142.7135.8122.9

IP

130.5

122.7

122.5111.576.7

131.3133.5132.8134.9127.1132.1

123.2104.8

104.0129.9134.1123.4119.6

136.2

117.0104.2143.2144.5137.0123.2

Table 7.18.—Current-Dollar Cost and Profit Per Unit of Constant-Dollar GrossDomestic Product of Nonfinancial Corporate Business

[Dollars]

Current-dollar cost and profit per unitof constant-dollar gross domesticproduct '

Capital consumption allowances with capitalconsumption adjustment

Net domestic product

Indirect business tax and nontax liability plusbusiness transfer payments less subsidies

Domestic incomeCompensation of employeesCorporate profits with inventory valuation

and capital consumption adjustmentsProfits tax liabilityProfits after tax with inventory valuation

and capital consumption adjustmentsNet interest . . . .

1987

1.104

.123

.981

.106

.875

.730

.098

.041

.058

.047

1988

1.129

.123

1.006

.107

.899

.744

.103

.044

.059

.052

Seasonally adjusted

1988

I

1.112

.122

.989

.106

.883

.732

.102

.041

.060

.050

n

1.123

.122

1,001

.107

.894

.740

.103

.044

.059

.051

III

1.132

.122

1.009

.108

.901

.746

.102

.044

.058

.053

IV

1.148

.124

1.024

.108

.916

.756

.105

.045

.061

.055

1989

I

1.156

.125

1.031

.110

.921

.768

.096

.045

.051

.057

U"

1.168

.126

1.042

.111

.931

.778

.093

.041

.053

.060

1. Equals the deflator for gross domestic product of nonfinancial corporate business with the decimal pointshifted two places to the left.


2. Includes depot maintenance and contractual services for weapons systems.3. Includes compensation of foreign personnel, consulting, training, and education.



Table 8.1.—Percent Change From Preceding Period in Selected Series

[Percent]

Gross national product:Current dollars1982 dollars

Chain price indexFixed-weighted price index

Personal consumption expenditures:Current dollars ' .

T 7. . .s """•implicit pnce aenator

Fixed-weighted price index

Durable goods:Current dollars1982 dollars . ...Implicit price deflatorChain price indexFixed-weighted price index

Nondurable goods:Current dollars1982 dollars

Chain price indexFixed-weighted price index

Services:Current dollars '1982 dollars 'implicit pnce oeriator


Gross private domestic investment:Current dollars1982 dollarsImplicit price deflatorChain price index ,

Fixed investment:Current dollars ..1982 dollarsImplicit price deflatorChain price indexFixed-weighted price index

Nonresidential:Current dollars1982 dollarsImplicit price deflator


Structures:

1982 dollarsImplicit price deflatorChain price indexFixed-weighted price index

Producers' durable equipment:Current dollars

Implicit price deflatorChain price indexFixed-weighted price index

Residential:Current dollars1982 dollarsImplicit price deflatorChain price indexFixed-weighted price index

Exports of goods and services:Current dollars l

1982 dollars 'Implicit price deflatorChain price index

Imports of goods and services:Current dollars '1982 dollars 'Implicit price deflatorChain price indexFixed-weighted price index .

1987

6.93.73.23.43.6

7.62.84.84.74.7

3.71.42.43.13.5

6.01.44.54.54.5

9.84.25.45.35.1

6.15.4

2.82.6

.22.32.0

2.13.9

-1.81.21.2

-3.7-6.0

2.31.7.2

4.88.1

-30.9

1.8

4.2_ c4.64.74.5

13.113.5

1.619

13.67.55.77.17.7

1988

7.94.43.33.74.2

7.43.43.94.14.3

8.16.21.92.22.4

5.41.63.74.04.1

8.53.84.64.74.8

7.26.2

7.35.81.52.63.3

9.78.41.22.43.4

4.9-.15.04.55.2

11.711.5

.11.62.2

2.7-.43.03.13.1

22.117.63.84.95.3

10.76.83.75.35.0


1988

I

6.54.02.03.33.8

8.76.22.32.62.6

22.321.0

1.11.0.9

2.71.71.11.31.3

9.15.23.73.93.9

-10.7-7.6

•7.45.02.33.95.1

12.99.52.94.45.7

-5.1-11.8

7.88.29.5

21.418.2262.83.5

-2.8-5.7

2.73.03.2

36.530.54.55.863

4.81.13.65.84.6

II

8.63.74.84.34.8

7.42.54.75.05.1

7.66.41.11.71.8

8.11.26.87.16.9

6.92.24.64.64.6

11.23.7

12.212.001.93.1

12.812.3

.42.84.0

8.42.35.83.45.5

14.615.8-.92.63.1

11.011.20-.1

8.61.86.96.77.0

2.1-2.2

4.46.36.4

III

7.53.24.44.45.2

7.53.33.94.34.6

-1.8-3.9

2.22.83.1

9.55.04.24.65.0

8.94.54.24.44.7

12.711.8

4.22.41.91.42.1

5.12.62.51.92.7

6.11.64.34.25.5

4.82.91.71.01.0

1.91.9.3

3

19.59.78.99.09.9

10.610.2

.4

IV

7.52.74.74.14.3

7.63.04.64.84.9

13.89.93.73.13.2

4.7.7

3.84.54.5

7.92.65.15.45.5

-9.2-12.7

4.3-3.0

7.53.84.2

2.1-6.5

9.24.44.7

1.4-5.16.83.94.5

2.3-6.910.34.64.8

9.26.32.72.72.6

17.515.51.52.02.4

18.912.65.25.04.2

1989

I

7.93.74.04.64.8

7.12.04.84.74.8

-.9-1.1

02.12.0

7.61.36.25.55.5

8.93.65.05.04.9

9.26.9

4.43.4

.84.15.0

6.06.9-.83.24.7

6.3-1.0

7.74.85.3

6.09.6

-3.32.64.4

.7-5.0

5.85.95.8

19.114.04.61.51.6

5.7-.46.37.28.6

IP

7.12.54.64.95.0

7.61.95.75.86.3

4.05.5

-1.4-.30

8.7-2.311.511.512.0

7.93.84.14.13.9

2.8-.7

3.12.4

.83.73.9

7.78.6-.82.13.0

-6.2-9.5

3.74.64.2

13.614.8-1.3

1.12.2

-6.1-12.3

7.17.37.2

14.213.11.12.32.5

10.79.31.14.45.7

Government purchases of goods and services:Current dollars .. .... . .1982 dollarsImplicit price deflatorChain price index IFixed-weighted price index

Federal:Current dollars1982 dollarsImplicit price deflatorChain price indexFixed-weighted price index

National defense:Current dollars1982 dollarsImplicit price deflator


Nondefense:Current dollars ,1982 dollarsImplicit price deflatorChain price indexFixed-weighted price index

State and local:Current dollars1982 dollarsImplicit price deflator ,..,Chain price indexFixed-weighted price index

Addenda:

Gross domestic purchases:


Final sales:1982 dollars\*. am pnce naex.

Final sales to domestic purchasers:1982 dollarsChain price index

Command-basis gross national product:1982 dollarsImplicit price deflator

Gross domestic product:1982 dollarsImplicit price deflator

Business:1982 dollarsImplicit price deflator

Nonfarm:1982 dollarsImplicit price deflator

Disposable personal income:Current dollars1982 dollars

1987

6.22.73.53.13.6

4.11.62.51.52.5

6.15.2.8

1.22.5

-2.1-9.3

8.02.42.4

7.73.44.14.24.3

3.24.04.1

3.23.53.6

2.74.04.1

3.03.8

3.83.2

4.12.8

4.32.7

6.41.6

1988

4.6.4

4.13.74.6

-.1-3.2

3.12.34.1

1.1-1.4

2.62.23.6

-4.0-9.4

5.92.45.4

7.93.24.54.74.9

3.33.84.2

4.33.74.2

3.23.84.2

4.53.3

4.43.3

4.63.1

5.22.8

8.54.4


1988

I

-.8-8.3

8.35.15.9

-13.7-22.3

11.14.86.6

.8-5.46.64.16.0

-50.2-63.5

36.37.28.0

9.03.75.25.35.5

.73.33.6

6.53.33.8

3.03.33.6

4.12.0

3.72.4

3.71.7

4.71.0

7.04.6

n

6.24.12.03.74.4

3.25.2

-1.72.13.8

.8-.81.42.83.8

13.133.9

-15.5-.83.8

8.23.44.54.94.9

3.04.34.7

5.04.34.8

4.44.34.7

4.04.8

4.34.8

4.54.9

4.24.1

7.22.4

III

-.6-3.6

3.01.94.7

-9.8-9.5-.3

-2.24.4

-2.5-5.5

3.22.12.0

-33.6-24.3-12.3-16.7

10.6

5.6.9

4.84.74.8

3.43.54.3

1.64.35.2

1.83.44.3

4.33.0

3.14.0

3.04.5

4.43.4

9.14.9

IV

23.916.76.33.83.5

49.533.712.03.12.1

6.14.41.82.82.5

383.9231.345.94.21.2

9.75.73.84.24.4

2.54.54.5

4.74.14.3

4.54.44.5

2.25.0

2.54.7

2.54.8

4.65.8

8.94.3

1989

I

1.8-3.35.58.08.0

-7.1-9.4

2.410.210.4

-2.4-10.6

9.09.6

10.4

-19.2-5.7

-14.411.810.4

8.21.56.66.66.4

1.85.25.5

3.14.64.8

1.25.35.5

3.54.3

3.84.0

3.93.3

2.43.0

11.96.6

IP

6.95.41.33.73.3

7.210.0-2.32.41.2

3.52.21.41.81.6

18.337.4

-14.14.1

.4

6.82.24.64.64.7

2.15.15.4

3.14.95.0

2.75.15.3

2.54.6

2.94.6

2.84.3

2.84.3

6.5.8

1. Percent changes for 1986 and the first quarter of 1986 reflect discontinuities in the series.NOTE.—The fixed-weighted price index and the chain price index, both of which are weighted averages of

the detailed prices used in the deflation of GNP, are measures of price change. In calculating changes inthese indexes, the composition of GNP is held constant. Consequently these changes reflect only changes inprices. The fixed-weighted price index measures price change over any period, using as weights thecomposition of GNP in 1982. The chain price index measures price change between two consecutive periods,

using as weights the composition of GNP in the first period. The implicit price deflator is a byproduct of thedeflation of GNP. It is derived as the ratio of current- to constant-dollar GNP (multiplied by 100). It it theaverage of the detailed prices used in the deflation of GNP, but the prices are weighted by the compositionof GNP in each period. Consequently, the implicit price deflator reflects not only changes in prices but alsochanges in the composition of GNP, and its use as a measure of price change should be avoided.



Reconciliation and Other Special Tables

17

Table 1.—-Revisions in Selected Component Series of the NIPA's, Second Quarter of 1989

GNP . .

National income

Compensation of employees . .Corporate profits with inventory valuation and capital consumption

adjustmentsOther . .. .

Personal income .

GNP

Less' Exports ..Plus' Imports .

Equals' Gross domestic purchases


Residential investment . . . .

C ern nt rch

TNP ' H • f h ' d h t lGNP implicit price deflator >. ...Gross domestic purchases price index (fixed weights)


Preliminary Final Difference

Billions of current dollars

5,203.8

4,249.9

3,118.0

309.1822.8

4,399.6

5,201.7

4,249.6

3,118.2

307.8823.7

4,400.3

-2.1

-.3

.2

-1.3.9

.7

Billions of constant (1982) dollars

4,134.0

585.2637.7

4,186.5

2,655.3511.0189.119.0

812.0

4,132.5

587.5638.7

4,183.7

2,653.7511.4189.319.1

810.3

-1.5

2.31.0

-2.8

-1.6.4.2.1

-1.7

Index numbers, 1982=100 !

129.3

125.9129.1

129.3

125.9129.1

0

00

Percent change frompreceding quarter at annual

rates

Preliminary

7.3

6.3

7.6

-8.87.9

7.8

2.7

11.48.6

2.4

2.28.3

-12.7

6.3

5.14.94.65.4

Final

7.1

6.3

7.6

-10.38.4

7.9

2.5

13.19.3

2.1

1.98.6

-12.3

5.4

5.04.94.65.4

1. Not at annual rates

NOTE.—For the second quarter of 1989, the following revised or additional major source data were incorporated: For personal consumptionexpenditures, revised retail sales for June; for nonresidential fixed investment, revised construction put in place for June and revised manufacturers'shipments of equipment for June; for residential investment, revised construction put in place for June; for change in business inventories, revisedmanufacturing and trade inventories for June; for net exports of goods and services, revised merchandise exports and imports for June and revisedservices for the quarter, for government purchases of goods and services, revised State and local government construction put in place for June; fornet interest, revised net interest from the rest of the world for the quarter; for corporate profits, revised domestic book profits for the quarter andrevised profits from the rest of the world for the quarter; and for GNP prices, revised residential housing prices for the quarter.

Table 2.—Relation of Net Exports of Goods and Services in the National Income and Product Accounts(NIPA's) to Balance of Goods and Services in the Balance of Payments Accounts (BPA's)


Exports of goods and services, BPA'sLess: Gold, BPA's

Capital gains net of losses in direct investment income receipts, BPA'sStatistical differences 'Other items

Plus: Adjustment for U.S. territories and Puerto RicoServices furnished without payment by financial intermediaries except life insurance carriers

and private noninsured pension plans.Equals: Exports of goods and services, NIPA's

Imports of goods and services, BPA'sLess: Payments of income on U.S. Government liabilities

Gold, BPA'sCapital gains net of losses in direct investment income payments, BPA'sStatistical differences 'Other items

Plus: Gold, NIPA'sAdjustment for U.S. territories and Puerto RicoImputed interest paid to foreigners

Equals: Imports of goods and services NIPA's ...

Balance on goods and services, BPA's (1—9)Less: Gold (2-11+15)

Capital gains net of losses in direct investment income, BPA's (3—12)Statistical differences (4-13)Other items (5-14)

Plus: Payments of income on U.S. Government liabilities (10)Adjustment for U S territories and Puerto Rico(6— 16)

Equals* Net exports of goods and services NIPA's (8—18) ....

Line

1234567

8

9101112131415161718

1920212223242526

1988

529.85.9-.1

0016.67.0

547.7

641.729.44.9

.900-1.8

9.27.0

621.3

-111.9-.7

-1.00029.47.4

-73.7

Seasonally adjusted atannual rates

1989

I

568.72.3

14 0-.3

017.87.1

605.6

676.132.53.2-.1

-4.20-2.210.07.1

659.6

-107.5-3.1

-13.93.9

032.57.8

-54.0

II

583.52.8

-17.72 -2 .3018.27.2

626.1

695.034.43.71.1

3 -6.00-2.410.07.2

676.6

-111.6-3.3

-18.84 3. 7034.48.2

506

1. Consists of statistical revisions in the BPA's that have not yet been incorporated in the NIPA's.2. Includes $2.0 billion resulting from revisions in Census Bureau merchandise trade data for June, which became available too late for

incorporation in the BPA's, but in time for incorporation in the NIPA's.3. Includes $1.8 billion resulting from revisions in Census Bureau merchandise trade data for June, which became available too late for

incorporation in the BPA's, but in time for incorporation in the NIPA's.4. See footnotes 2 and 3.



Composite Indexes of Leading, Coincident, and Lagging Indicators

Recent Data and Percent Changes

Index

Leading index

Coincident index

Lagging index

Leading index

Coincident index

Lagging index ,

1988

Sept. Oct. Nov. Dec.

1989

Jan. Feb. Mar. Apr. May June July Augp

1988

III IV

1989

I II

Index (1982=100)

143.7

129.3

116.4

143.9

130.6

116.5

144.0

130.6

117.8

145.0

131.4

118.1

146.1

132.3

119.3

145.7

132.6

120.5

144.7

132.6

121.3

145.6

133.4

120.5

' 143.8

133.1

121.5

143.7

' 133.4

'121.8

' 143.9

r 133.4

'121.2

144.4

133.9

122.3

143.5

129.2

116.2

144.3

130.9

117.5

145.5

132.5

120.4

' 144.4

' 133.3

121.3

Percent change from preceding month (quarter)

-.3

0

0

.1

1.0

.1

.1

0

1.1

.7

.6

.3

.8

.7

1.0

-.3

.2

1.0

-.7

0

.7

.6

.6

-.7

'-1.2

-.2

.8

'-.1

'.2

'.2

'.1

'0

'-.5

.3

.4

.9

.8'

1.1

.5

.6

1.3

1.1

.8

1.2

2.5

-.8

'.6

.7

f Preliminary.r Revised.NOTE.—Quarterly data are averages of monthly figures. Quarterly percent changes are computed from quarterly data.

Long -Term Perspective: January 1969 to August 1989

1982 = 100 (Ratio scale) 1982 =100 (Ratio scale)

1969 70 71 72 73

Note.—Peak (P) indicates the end of business cycle expansion and the beginning of recession Research, Inc. The numbers entered on the chart indicate the length of I(shaded area). Trough (T) indicates the end of business cycle recession and the beginning of months from the business cycle turning dates,expansion. Business cycle peaks and troughs are designated by the National Bureau of Economic

U.S. Department of Commerce, Bureau of Economic Analysis


By THAE S. PARK

Federal Personal Income Tax Liabilities and Payments;Revised and Updated Estimates, 1986-87

THIS article compares Federal per-sonal income tax liabilities and pay-ments for 1986-87 (table I).1 The li-ability series reflects final 1986 andpreliminary 1987 data from Statisticsof Income, Individual Income Tax Re-turns. The payment series, which ap-pears in table 3.2 of the national in-come and product accounts (NIPA) ta-bles, reflects estimates presented inthe NIPA revisions released in July1989.

In the NIPA's, personal income taxesare recorded on a payment basis—thatis, at the time tax payments are madeby individuals. For many types of anal-ysis, personal income taxes on a liabil-ity basis—that is, at the time taxpay-ers earn their income and the tax lia-bility is incurred-—may be more appro-priate than on a payment basis.

Differences between liabilities andpayments

The payment series consists of threeparts: Withheld taxes; declarationsand final settlements, referred toas "nonwithheld" taxes; and refunds.Withheld taxes are those withheld atthe income source. Declarations areestimated taxes paid on incomes notsubject to withholding, and final settle-ments are additional taxes paid eitherat the time of filing tax returns whenliabilities exceed payments or as resultof audits. Refunds occur at the time offiling tax returns when payments ex-ceed liabilities.

For taxes withheld from wages andsalaries, differences arise for three rea-sons. First, taxes paid according tothe withholding tables may result in

1. Estimates for earlier years are in "Federal Per-sonal Income Taxes: Liabilities and Payments, 1949-84," SURVEY OF CURRENT BUSINESS 66 (May 1986): 40-41, in "Federal Personal Income Taxes: Liabilities andPayments, 1981-85," SURVEY 67 (June 1987): 17-18,and in "Federal Personal Income Tax Liabilities andPayments: Revised and Updated Estimates, 1984-86,"SURVEY 68 (September 1988): 21-22.

overwithholding for some taxpayers be-cause the tables are constructed underthe assumption that taxpayers use thestandard deduction in calculating theirincome tax liabilities. Overwithhold-ing results unless taxpayers who item-ize their deductions request additionalexemptions for withholding purposes.Second, changes in withholding ratesmay not always coincide with changesin liabilities; tax law provisions usuallyare effective on January 1, but corre-sponding changes in withholding ratessometimes occur later. Third, if in-come or deductions change during thetax year, changes in taxes withheld candiffer from changes in liabilities be-

f able 1.—Federal Personal Income Tax Liabilitiesand Payments, 1983-87

[Billions of dollars, quarters at seasonally adjusted annual rates]

Year andquarter

198319841985 .. .19861987

1983: IIIIllIV

1984: IIIIllIV

1985: IIIIllIV

1986: IIIIllIV

1987: IIIIllIV

Personal income taxes

Liabilitybasis '

279.9308.8334.0375.0379.7

270.5275.8281.7291.5295.9304.2313.7321.5323.6330.3335.3346.6363.9371.2377.2387.3363.4372.5382.8399.9

Paymentbasis 2

288.1303.7339.3353.5397.2

291.1296.8278.5286.0289.9296.4309.0319.5355.2310.5343.1348.3344.0347.0355.1368.1362.4415.5398.9411.9

Excess ofliability

oasis overpayment

basis

-8.25.1

-5.321.5

-17.5

-20.6-21.0

3.25.55.97.84.72.0

-31.619.8-7.8-1.719.924.622.119.21.0

-43.0-16.1-12.0

Addenda:

Personalincome 3

2,838.63,108.73,325.33,526.23,777.6

2,753.12,812.62,846,82,941.83,034.13,074.83,137.83,188.33,263.03,307.63,331.73,399.13,457.03,509.93,540.23.597.83,673.63,732.73,795.53,908.7

Taxableincome 4

1,544.91,701.41,820.71, '947.01,858.7

1,495.91,523.71,554.71,605.21,650.21,683.01,720.81,751.31,780.51,806.41,826.11,870.01,905.91,934.31,955.21,992.71,779.81,832.71,870.21,932.2

1. This series is derived by the Bureau of Economic Analysis basedon data from Statistics of Income, Individual Income Tax Returns for1983-86 and from Statistics of Income Bulletin (Vol. 8, No. 4) for1987.

2. This series appears in NIPA table 3.2.3. This series appears in NIPA table 2.1.4. Annual totals appear in Statistics of Income, Individual Income

Tax Returns for 1983-86 and in Statistics of Income Bulletin (Vol. 8,No. 4) for 1987. Quarterly estimates are derived by the Bureau ofEconomic Analysis.

cause withholding rates are graduatedto reflect tax rates.

Taxes withheld on some taxable in-comes have no direct relationship tothe corresponding liabilities, causingfurther differences. For interest, div-idends, and certain other types of in-come, an arbitrary 20 percent is with-held if the recipient fails to furnish anaccurate taxpayer identification num-ber. (This withholding was initiated in1984 as a compliance measure.) Forpensions and annuities, withholding isoptional.

For nonwithheld taxes on propri-etors' income, capital gains, taxable so-cial security benefits, and certain othertypes of taxable income, differences be-tween liabilities and payments arisefor three reasons. First, the last in-stallment of quarterly estimated taxesand the final settlements are madein the tax year following the liabilityyear. Second, the proportion of thecurrent year's liabilities that must bepaid to avoid a penalty is less than100 percent.2 Third, payments of non-withheld taxes tend to be unrelated tochanges in income. Thus, when incomegrowth accelerates, liabilities tend toincrease faster than payments.

Refunds arise from overpayments oftaxes during the liability year. Ac-tual refunds are recorded in the pay-ment series as negative payments atthe time they are made by the Trea-sury, mostly in the first and secondquarters after the liability year. Thus,refunds are unrelated to the currentyear's liabilities.

Differences for 1986-87

In 1986, liabilities exceeded pay-ments by $21.5 billion, $6 billion less

2. The Tax Reform Act of 1986 increased the propor-tion from 80 percent to 90 percent effective from taxyear 1987.

19



than the previously published esti-mate. This substantial excess waslargely due to realized capital gains.The 1986 final Statistics of Income tab-ulation shows that the realized netcapital gains less losses included inadjusted gross income in 1986 were$131.6 billion, compared with $68.3 bil-lion in 1985. This large increase innet capital gains reflected repeal ofthe preferential tax treatment of long-term capital gains by the Tax ReformAct of 1986 (TRA). Under TRA, long-term capital gains are taxed at thesame rates as ordinary income, effec-tive in 1987, except that the top ratewas limited to 28 percent in 1987. Un-

der the previous law, long-term capitalgains were taxed at 40 percent of taxrates on ordinary income, which putthe top rate at 20 percent. Many tax-payers, faced with the higher rates, ac-celerated realizations of capital gainsinto 1986—sharply increasing liabili-ties. (The quarterly liability series re-flects these realizations beginning inthe first quarter.) Because capitalgains are not subject to withholding,the 1986 payments were not affectedby the accelerated realizations.

In 1987, payments exceeded liabili-ties by $17.5 billion. The excess re-flects the final settlements of the 1986capital gains tax liabilities, which in-

creased payments largely in the secondquarter of 1987.

Personal income tax liabilities for1987, the first year under TRA, in-creased only slightly from 1986. Incombination with the small decline intaxable income in that year, this im-plies that changes in the tax rate struc-ture under TRA were revenue enhanc-ing for 1987. In 1986, the rate struc-ture for computing tax consisted of 15taxable income brackets with tax ratesranging from 11 percent to 50 percent.In 1987, the number of taxable incomebrackets was reduced to 5 with taxrates ranging from 11 percent to 38.5percent.


By RAYMOND J. MATALONI, JR.

Capital Expenditures by Majority-OwnedForeign Affiliates of ILS, Companies, 1990

MAJORITY-OWNED foreign affili-ates of U.S. companies plan to increasecapital expenditures 2 percent in 1990,to $49.9 billion, following a 24-percentincrease in 1988 and a 15-percent in-crease in 1989 (table 1, chart I).1 Thelarge increases in 1988 and 1989 re-sulted, in part, from the worldwideneed to increase industrial capacity,which has been close to full utilizationin recent years, in response to contin-uing economic growth.

The planned deceleration in capitalspending in 1990 is widespread by in-dustry and area, and it may reflectcautious expectations of future world-wide economic growth. In the face ofeconomic uncertainty, firms that areattempting to maintain flexibility byholding more liquid assets in theirportfolios and by assuming less debtmay postpone capital spending plans.It should be emphasized, however, thatthese projections are the first in a se-ries of five for 1990. Recent experi-ence has shown that subsequent esti-mates of spending may be significantlyhigher; for example, current spendingplans for 1988 and 1989 have been re-vised upward by 27 and 11 percent, re-

NOTE.—Stephen P. Schorr prepared the esti-mates of expenditures using computer programsdesigned by Jane M. Fry.

1. Capital expenditures estimates are for majority-owned nonbank foreign affiliates of nonbank U.S. par-ents. (An affiliate is majority-owned when the combinedownership of all U.S. parents exceeds 50 percent.) Foraffiliates other than those engaged in natural resourceexploration and development, capital expenditures in-clude all expenditures that are charged to capital ac-counts and that are made to acquire, add to, or improveproperty, plant, and equipment. For affiliates engagedin natural resource exploration and development, capi-tal expenditures also include the full amount of explo-ration and development expenditures, whether capital-ized or expensed. Capital expenditures are on a grossbasis; sales and other dispositions of fixed assets arenot netted against them. They are reported to BEA incurrent dollars; they are not adjusted for price changesin host countries or for changes in the value of foreigncurrencies, because the necessary data are unavailable.

spectively, compared with the first pro-jections for those years (table 2).

Although the planned decelerationin spending in 1990 is geographicallywidespread, growth continues to be rel-atively strong in certain areas, suchas Southeast Asia and the EuropeanCommunities (EC-12). In SoutheastAsia, growth has been particularlyrapid in the petroleum-producing coun-tries. Spending by affiliates in In-

donesia, Malaysia, and Thailand is ex-pected to increase 23 percent, to $2.4billion, following a 33-percent increasein 1989. Firms have been attracted bypotentially large oil and gas reservesand by a growing local demand for nat-ural gas.

Plans by the EC-12 for more com-plete economic integration, which areto be fully implemented by 1992, con-tinue to attract investment by U.S.-

Table 1.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies, 1985-90

Total . . . . .

By industry

PetroleumManufacturing

Food and kindred productsChemicals and allied productsPrimary and fabricated metalsMachinery except electrical .Electric and electronic equipmentTransportation equipmentOther manufacturing

Wholesale tradeFinance (except banking), insurance, and real

estateServicesOther industries

By area

Developed countriesCanadaEurope

European Communities (12) 3

FranceGermany Federal Republic ofUnited Kingdom .Other . .

Other .JapanAustralia, New Zealand, and South Africa

Developing countriesLatin America and Other Western Hemisphere .Other AfricaMiddle East .Other Asia and Pacific

International

Addenda:European Communities (10) 4

OPEC5

Percent change from preceding year

Actualexpenditures

1986

-7

-30108

128

-5-4261410

39(*)-4

-2-4-4

1714

-20

813

-18-11-32-24-19

-25

3-21

1987

5

25

1822

-144

22-18

111

11726-3

9-2131315-32511151115

-8-6

-2833-9

7

12-36

1988 '

24

361911264114237

2421

-232430

242322232

193913105234

181123

-2237

94

2221

Mostrecentplans '

1989

15

521111829111135294

262115

113

121276

1022153412

3136233127

-3

1138

1990

2

6282

318

-11

-9-2

-5-5o

2344

(*)843

-21

-8

1-714107

1

513

Earlierplans 2

1988

24

36211919162015193621

-252126

242622237

253216154723

241818

-1244

54

2243

1989

12

3171116282198

2916

77

19

9_j1212155

11191138-3

2327149

23

29

1216

Billions of dollars

Actual expenditures

1985

34.9

13.714.91.22.7

.93.01.43.32.42.4

.31.32.3

25.56.8

16.2..........

3.06.2

"To1.5

8.93.91.5.5

3.0

.5

14.12.0

1986

32.6

9.616.41.33.1.9

2.91.44.12.72.6

.51.32.2

25.06.6

15.614.22.03.45.03.81.41.11.7

7.33.41.0.4

2.4

.3

13.71.6

1987

34.4

9.817.21.53.7.8

3.01.73.43.02.6

1.01.72.1

27.36.5

17.716.12.33.36.24.31.61.21.9

6.73.3

.7

.52.2

.4

15.41.0

1988 »

42.6

13.320.4

1.74.71.13.42.13.63.73.2

.82.12.8

33.97.9

21.519.82.43.98.64.81.81.82.6

8.03.6

.9

.43.0

.7

18.91.2

Mostrecentplans '

1989

48.9

14.024.8

1.95.61.53.82.34.94.83.3

1.02.53.2

37.78.2

24.222.12.64.29.55.92.02.42.9

10.54.91.1.5

3.9

.7

20.91.7

1990

49.9

14.825.42.15.71.94.12.35.04.43.3

.92.43.1

38.78.5

25.023.02.64.59.96.02.02.52.7

10.64.61.3.6

4.1

.7

21.92.0

Earlierplans 2

1988

42.8

13.320.8

1.84.4

.93.61.94.04.13.2

.82.02.7

33.98.2

21.619.82.54.18.24.91.81.72.4

8.43.8.9.5

3.2

.6

18.81.5

1989

48.1

13.724.52.05.21.24.32.14.45.33.7

.82.23.2

37.18.1

24.222.22.94.39.15.92.02.42.3

10.34.81.0.5

3.9

.7

21.11.7

* Less than 0.5 percent (±).1. Based on BEA survey taken in June 1989.2. Based on BEA survey taken in December 1988.3. European Communities (12) comprises Belgium, Denmark, France, Germany (Federal Republic of), Greece, Ireland, Italy, Luxembourg,

Netherlands, Portugal, Spain, and the United Kingdom.4. European Communities (10) comprises European Communities (12) except Portugal and Spain.5. OPEC comprises Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and

Venezuela.NOTE.—Estimates are for majority-owned nonbank foreign affiliates of nonbank U.S. parents.

21



owned affiliates. Although affiliates inthe EC-12 plan to increase their spend-ing only 4 percent, to $23.0 billion in1990, following a 12-percent increasein 1989, the level of their expenditureswill have grown over 50 percent in a4-year period. To remain competitivein the larger market, existing affiliatesare adopting large-scale, more cost-efficient production techniques. In ad-dition, the perception that, after 1992,the EC-12 may become more protec-tionist towards outside producers is at-tracting new affiliates. A presencein the EC-12 could also foster better

CHART 1

Capital Expenditures byMajority-Owned ForeignAffiliates of U.S. Companies

Billion $ (Ratio scale) Billion $60

Canada

y-

' Other DevelopingCountries

Finance (Except Banking),Insurance, and Real Estate

21—

85 86 87 88 89 90 85 86 87 88 89 90

® PlannedNote—Estimates are for nonbank foreign affiliates of nonbank U.S. parents.

U.S. Department of Commerce, Bureau of Economic Analysis 89-9-

customer relations and improve com-petitiveness in securing governmentprocurement contracts. For manu-facturing affiliates, production in theEC-12 could reduce the cost of com-plying with community-wide productstandards and may be necessary in or-der to meet local content regulations.

Actual spending for 1988 is virtuallyunchanged from the level reported 6months earlier, while planned spend-ing for 1989 has been revised upwardby 2 percent (table 2). Although theoverall revision for 1989 is small, re-visions were substantial in several in-dustries. The most significant upwardrevision was in transportation equip-ment manufacturing; it reflected a U.S.automaker's expansion of its Europeanproduction facilities. This upward revi-sion was partly offset by a large down-ward revision in nonelectrical machin-ery manufacturing, largely as a resultof substantial reductions in plannedspending by a computer manufacturer.The most recent estimates for 1988 and1989 are based on a survey conductedin June 1989; the previous estimateswere based on a survey conducted inDecember 1988.

The planned slowdown in spendingin 1990 is widespread by industry andby country. By industry, affiliatesin manufacturing plan a 2-percent in-crease, to $25.4 billion, following a21-percent increase; petroleum affili-ates plan a 6-percent increase, to $14.8billion, following a 5-percent increase;and affiliates in all other industriesplan a 3-percent decrease, to $9.7 bil-lion, following a 14-percent increase.

By area, affiliates in developed coun-tries plan a 2-percent increase in cap-ital expenditures in 1990, to $38.7billion, following an 11-percent in-crease. In developing countries, af-filiates plan a 1-percent increase, to$10.6 billion, following a 31-percent in-crease. Affiliates in "international"—those that have operations in morethan one country and that are en-gaged in petroleum shipping, other wa-ter transportation, or operating mov-able oil and gas drilling equipment—plan to increase spending 1 percent,following a 3-percent decrease.

Petroleum

Petroleum affiliates plan to increasespending 6 percent in 1990, to $14.8billion, following a 5-percent increasein 1989. If realized, the 1990 in-crease will be the fourth consecutiveannual increase for this industry; in

Table 2.—Revisions to Capital ExpendituresEstimates, 1988-89

Date of BEA survey: !

June 1987...December 1987June 1988December 1988June 1989

Addenda:Percent change from previous tc

most recent estimate

Total percent change fromfirst to most recent estimate ..

Millions ofdollars

1988

33,44538,90542,29442,83942,562

-1

27

1989

n.a.n.a.

44,09748,07948,855

2

11

Percent changefrom preceding

year

1988

-115232424

1989

n.a.n.a.

41215

n.a. Not applicable.1. Results of the June 1987, December 1987, June 1988, and

December 1988 surveys were published in the September 1987, March1988, September 1988, and March 1989 issues, respectively, of theSURVEY OF CURRENT BUSINESS. Results of the June 1989 survey arepresented in this article.

contrast, spending declined in 1983-86 as a result of stagnant or declin-ing crude oil prices. The turnaroundreflects, in part, a shift in explo-ration and development activities fromthe United States to foreign coun-tries, where many companies believethe probability of finding large oil andgas reserves is greater. Throughoutthe first half of 1989, capital expen-ditures have also been buoyed by ris-ing crude oil prices, which have re-sulted from tight supplies combinedwith increasing demand. Although theplanned increase in spending in 1990is widespread by area, much of it isaccounted for by Southeast Asia andNigeria.

In developed countries, affiliatesplan to increase spending 7 percent, to$9.9 billion, following a 4-percent de-crease. British and Canadian affili-ates largely account for the increase.After falling in 1989, expenditures inthe United Kingdom are expected torise, partly because of the reconstruc-tion and resumption of activity fol-lowing a series of accidents on oiland gas platforms in the North Sea.Exploration and development in theUnited Kingdom has also been encour-aged by a more favorable tax struc-ture, which was implemented in early1988. In Canada, the increase maybe attributable, in part, to governmentsubsidies for the development of exten-sive crude oil reserves off the coast ofNewfoundland.

In developing countries, affiliatesplan to increase spending 8 percent,to $4.6 billion, following a 33-percentincrease. Growth in expenditurescontinues to be strong in SoutheastAsia in response to recent discover-ies of oil and natural gas and to new



government incentives. The region'sstrongest growth is in Thailand, whereexpenditures are expected to increase77 percent, after rising 36 percentin 1989. Both increases are largelyfor refinery construction, following re-cent government steps to allow pri-vate firms to enter the refining in-dustry. In Malaysia, affiliates planto increase spending 51 percent, fol-lowing a 17-percent increase in 1989.Both increases mainly reflect the con-struction of natural gas extraction fa-cilities, due to be completed in 1990.In Indonesia, spending is expected torise 10 percent, compared with a 39-percent rise in 1989. The growth isin exploration and development, whichhas been encouraged by a more favor-able allocation of revenues between af-filiates and the state-owned oil com-pany, with whom the affiliates shareproduction.

Affiliates in Nigeria plan to increasespending 52 percent, to $0.3 billion, fol-lowing a 69-percent increase. The in-creases in both years reflect rising oilprices, improved government contractterms, and a desire to develop previ-ously unexplored areas.

Affiliates in "international" plan todecrease spending 32 percent in 1990,after a 7-percent increase in 1989.The decrease is mostly in petroleumshipping.

Manufacturing

Manufacturing affiliates plan to in-crease spending 2 percent in 1990, to$25.4 billion, following a 21-percent in-crease in 1989. Increases are plannedin all manufacturing industries exceptelectronic machinery and "other man-ufacturing"; however, with the excep-tion of primary and fabricated metals,the increases are smaller than in 1989.

Affiliates in primary and fabricatedmetals plan to increase spending 31percent, to $1.9 billion, following a 29-percent increase. Most of the 1990increase is for the construction andexpansion of aluminum smelters inCanada, partly in response to rising de-mand for aluminum products and theavailability of inexpensive hydroelec-tric power.

In nonelectrical machinery, affiliatesplan to increase spending 8 percent, to$4.1 billion, following an 11-percent in-crease. The increases in both yearslargely reflect the expansion of over-seas production facilities by U.S. com-

puter manufacturers, who are seekingless saturated markets in Europe andAsia.

Affiliates in food products plan to in-crease spending 8 percent, to $2.1 bil-lion, following an 11-percent increase.The increases in both years are mainlyin Europe.

Chemical affiliates plan to increasespending 2 percent, to $5.7 billion, fol-lowing an 18-percent increase. Theslowdown in 1990 follows 5 years ofrapid growth, which was fueled by per-sistent increases in demand. Spendingcontinues to be strong in petrochem-icals, however, because of the grow-ing market for derived chemical com-pounds, synthetic fibers, and plastics.

Affiliates in transportation equip-ment plan to increase spending 1 per-cent, to $5.0 billion, following a 35-percent increase. The increases areconcentrated in the EC-12, where affil-iates are increasing capacity in antic-ipation of fuller economic integrationin 1992. In other developed countries,spending is weak, partly because of ris-ing vehicle prices and partly because ofincreasingly reliable late model auto-mobiles, both of which have dampenedthe demand for new cars. The slow-down also reflects the completion of alarge retooling project to produce newcar models.

Decreases in capital spending areplanned in "other manufacturing" andelectronic machinery, following signifi-cant increases in 1989. In "other man-ufacturing," affiliates plan to decreasespending 9 percent, to $4.4 billion, af-ter a 29-percent increase in 1989. Ifrealized, the 1990 decrease will be thefirst since 1983; it reflects the com-pletion of expansion projects by firmsproducing fiberglass and paper prod-ucts. In electronic machinery, affiliatesplan to decrease spending 1 percent, to$2.3 billion, following an 11-percent in-crease. This decline reflects cancella-tion of a large Asian project because ofenvironmental concerns and dampenedspending by a Latin American affiliatein consumer goods manufacturing.

By area, manufacturing affiliates indeveloped countries plan to increasespending 3 percent, to $20.9 billion, fol-lowing a 20-percent increase in 1989.In both years, most of the increase is inthe EC-12. The largest dollar increasesare in Germany and Belgium. Germanaffiliates plan to increase spending 10percent, to $3.5 billion, following an 8-percent increase. Most of the 1990 in-crease is in transportation equipment

and reflects an automaker's expansionof production capacity. Belgian affili-ates plan to increase spending 22 per-cent, to $1.1 billion, after a 19-percentincrease. Both increases are in chem-icals and reflect efforts by petrochem-ical firms to remain competitive after1992 by developing more modern, costefficient plants.

The increases in planned spendingin Germany and Belgium are partlyoffset by decreases in planned spend-ing by manufacturing affiliates in Aus-tralia and the Netherlands. Australianaffiliates plan to decrease spending 8percent, to $1.1 billion, following a 21-percent increase. The completion ofan aluminum smelting facility is theprimary reason for the decrease. TheNetherlands affiliates plan to decreasespending 9 percent, to $0.9 billion, af-ter a 22-percent increase. The de-crease results mainly from the comple-tion of expansion projects by chemicalmanufacturers.

In developing countries, manufac-turing affiliates plan to increase spend-ing 2 percent, to $4.5 billion, follow-ing a 29-percent increase. Most of thespending will occur in South America,where government incentives continueto attract U.S. direct investment.

Brazilian affiliates plan to increasespending 6 percent, to $1.8 billion, fol-lowing a 37-percent increase. Brazil-ian affiliates in "other manufacturing"and chemicals plan to increase capac-ity by expanding existing plants. InChile, affiliates plan to increase spend-ing 27 percent, following an even largerincrease in 1989. The increases inboth years are mainly attributable tothe expansion of a copper mining andprocessing operation. Affiliates in Ar-gentina plan to increase spending 21percent, to $0.2 billion, following a13-percent decrease. Much of the in-crease is in nonelectrical machineryand mainly reflects expansion projectsby a computer manufacturer.

Other industries

Planned expenditures by affiliates inall other industries combined are ex-pected to decrease 3 percent, to $9.7billion, following a 14-percent increasein 1989. Wholesale trade affiliatesplan to decrease spending 2 percent,to $3.3 billion; the largest decreasesare in Canada, France, and the UnitedKingdom, resulting, in part, from thecompletion of new warehouse facilities.



Affiliates in finance (except bank-ing), insurance, and real estate planto decrease spending 5 percent, to $0.9billion, compared with a 26-percent in-crease in 1989. The decrease primar-ily reflects the completion of a HongKong leasing company's purchase of oildrilling equipment.

In services, affiliates plan to de-crease spending 5 percent, to $2.4 bil-lion, after a 21-percent increase. Thedecrease is concentrated in the Ba-hamas, where construction of a hoteland casino will be completed.

Affiliates in "other industries" planto decrease spending 3 percent, to $3.1

billion, following a 15-percent increase.Much of the decrease in 1990 re-sults from the completion of an expan-sion project by an Australian miningaffiliate.

Tables 3-5, which provide detailedcountry-by-industry estimates of capital

expenditures for 1988-90, follow.



Table 3.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1988 >

[Millions of dollars]

All countries . . 4

Developed countries ...

Canada .

Europe

European Communities (12)BelgiumDenmark .FranceGermany Federal Republic ofGreece .IrelandItaly

NetherlandsPortugal .

United Kingdom

Other Europe

Finland

Sweden

TurkeyOther

Australia New Zealand and South Africa .AustraliaNew ZealandSouth Africa .

Developing countries .

Latin America and Other Western Hemisphere

South AmericaArgentinaBrazilChileColombiaEcuadorPeru »Venezuela . ..Other

Central AmericaMexico . .

Other

Other Western HemisphereBahamasBermudaJamaicaNetherlands Antilles . .Trinidad and Tobago . .United Kingdom Islands Caribbean <Other ...

Other Africa .

Egypt . ....LibyaOther

Sub-SaharanLiberia . .NigeriaOther

Middle EastIsrael

United Arab EmiratesOther ,

Other Asia and Pacific . .Hons Konff . . .nung ivong

IndonesiaMalaysia

SingaporeSouth Korea ,Taiwan .<Thailand .Other

International ....

Addendum OPEC 2 . .

Allindustries

42,562

33,876

7,936

21,527

19,762895178

2,3883,922

37297

1,161150

1,185110795

8,643

1,76511777

926149329149

18

1,801

2,6122,290

22895

7,989

3,623

2,604332

1,6231192204071

16632

7145932497

305108

941

8(D)4

(°)

920337297(*)39

584(°)

138(D)

410672075

248

3,03630133

758491140416185254217242

697

1,248

Petro-leum

13,305

9,642

2,887

5,835

4,8253534

213242

424

1711

1971338

3,852

1,010(D)(D)

882

8(D)14

(D)

(D)621113<°)

3,201

593

449115(D)

911526(D)

142629

15

11793

(D)

(D)

(D)

809317286(*)31

491(*)133359

3320

1473

245

1,46729(D)

619335(D)

1021

(*)129204

462

923

Manufacturing

Total

20,403

16,987

3,403

11,318

11,08373542

1,5752,929

2524376714980870

6663,073

2363613128175171

1,216

1,0509783537

3,416

2,266

1,699181

1,25547694

12124

7527491

333

39(D)

0(°)

1(*)(D)

6012903

48(D)

(D)

3635(*)(*)(*)

1,054481142

14988

2411602237123

173

Foodand

kindredproducts

1,712

1,382

192

1,059

1,034242274

1561228450

1161858

480

2670

?!13(D)

0

22

109100

54

331

259

1936774

11011

346

60461

13

500

(*)

1(*)

29220

(*)27(D)

0(D)

00000

433021

122

14242

36

Chemi-cals and

alliedproducts

4,708

4,116

611

2,886

2,843(D)

485460

757

253(D)

35914

112607

43556

121410

329

289272

512

592

446

33228

2413

3029

19(*)847419

31(D)

0(D)

0(*)

0(D)1143017034

21

(*)0

(*)

13454

254

189

22231014

49

Primaryand

fabri-cated

metals

1,142

965

(D)

468

463212

36127

08

162

48

%173

4(*)

0(*)

0400

9

(D)(D)(*)

177

147

1302

82(D)(D)01

(D)(*)1614

(*)2

(*)000

(*)000

15(D)(°)

0(°)

°20

(D)(*)(*)(*)

00

1570

(*)(*)(*)

03

(*)0

3

Ma-chinery,exceptelec-trical

3,398

2,982

254

2,087

2,033125

1506613

053

1682

464

62451

541

(*)(*)47500

(D)

(D)(D)(*)

4

416

314

288

80

(*)00

(*)(*)26260

(*)

00000000

(*)(*)(*)

00„0

(*)(*)(*)

00

(*)102

13

(D)

1460

(D)65

(D)

Electricandelec-tronicequip-ment

2,061

1,210

161

822

804(D)

863

2381

37563

58(D)46

245

182001

1410

191

3533

11

852

215

1502

121(D)(D)

1(*)250

646202

100000

(*)(*)1

(*)(*)0010

(*)

2929(*)(*)

0

6072101

13750

14188

12148(*)

26

Trans-portation

equip-ment

3,648

3,123

959

1,966

1,952(D)

54900

01

80(D)

2(D)

269574

148006000

2

195(D)(D)

1

525

490

2853

265(*)(D)(*)

0(D)(*)

205205

00

00000000

000000000

00000

350000

(*)(D)(D)(D)

00

(D)

Othermanu-

facturing

3,733

3,209

(D)

2,030

1,954(D)

6359434

659

147(D)

179(D)88

542

761475

(D)24(D)

(D)

(D)(D),(D)

8

524

396

322(D)(D)(D)(D)

(*)(D)

726318

30010101

80

(D)(D)(*)(*)(D)44

(*)00

119103

(D)48

(D)(D)2142

34

Whole-saletrade

3,193

2,610

249

1,797

1,4947558

318235

417

129(*)691637

536

303(D)(D)2140

14443

307

256205447

583

335

27313(D)25

83

(D)93

564647

61

(*)

(*)1

(*)

1462

(*)48

(*)17

2824

112

20663(D)(D)

(D)61(D)23116

27

Finance(except

banking),insur-

ance, andreal

estate

782

649

112

388

37113

11531(*)

86

(*)18(*)

276

17(*)

0(*)

120

(*)

49

1009370

133

58

326

(D)

(D)(*)

0(*)

0113

(*)8

16(D)(D)(*)

1(*)(*)(*)

2(*)(*)

002

(*)02

11

(*)(*)(*)

72(D)(*)(*)(*)(D)(D)

17

(*)(*)

(*)

Serv-ices

2,098

1,864

390

1,317

1,2093139

149226

36

720

561046

571

109O(*)(D)(D)81(*)(*)

55

102101(*)

235

190

495

17252

(*)171

4035(*)

4

101(D)(D)

20

%311

(*)(*)

1(*)

2

1283

(*)(*)

30(D)

0(*)(*)(*)

8(D)

040

23

Otherindus-tries

2,780

2,124

895

871

78144

118259(*)(*)160

3706

335

90(D)0

(D)(*)

(D)(*)

(D)

(D)29228(D)

422

182

10212(D)32(D)

197

55178

29

251

(*)(*)(*)(D)<:>32(*)(*)(*)

032(D)(*)(D)

202

(*)(*)

207(D)0

(D)

(D)(D)(*)

128

234

102

* Less than $500,000.° Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 1.2. See footnote 5, table 1.NOTE.—Estimates are for majority-owned nonbank foreign affiliates of nonbank U.S. parents.



Table 4.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1989 l


AH countries

Developed countries

Canada

European Communities (12)BelgiumDenmarkFranceGermany Federal Republic ofGreece . .. ,IrelandItaly ,Luxembourg ,Netherlands >PortugalSpain ,United Kingdom

Other EuropeAustriaFinlandNorwaySweden . ... ,Switzerland ..TurkeyOther

Australia New Zealand and South Africa . .. .. ,Australia .. .New Zealand . ,South Africa .

Developing countries


ArgentinaBrazilChile .Colombia . . .Ecuador . .. .... . ...Peru . .. .Venezuela .. ,Other .

Central AmericaMexicoPanamaOther -.

Other Western HemisphereBahamas . . . . . .

Jamaica . . . . .. .Netherlands AntillesTrinidad and TobaCToUnited Kingdom Islands CaribbeanOther . . . .

Other Africa . .Saharan . . . .

Eevot{%£ ::Other

Sub-SaharanLiberia .... . .

Other . . ..

Middle EastIsraelSaudi Arabia

Other

Other Asia and Pacific

IndiaIndonesiaMalaysia .Philippines

South KoreaTaiwan ,ThailandOther

International

Addendum — OPEC 2

All (industries

48,855

37,730

8,207

24,166

22,1391,074

2042,5674,172

47338

1,386210

1,414106

1,0939,527

2,02714188

1,0422374149510

2,422

2,9342,609

175150

10,451

4,932

3,416333

2,1952103352678

18554

1,00686725

115

510218

9396

(°)6

(°)

1,131362322(*)40

769(D)

229(D)

53771(D)99(D)

3,85239736

1,114542156512243272288290

674

1,726

Petro-leum

14,028

9,271

2,242

6,013

4,9285356

214315

533

1911

2371642

3,765

1,08620(D)

9788

15(D)5

(D)

(D)634107(D)

4,263

842

657143(°)

19416(°)

342629

16

159112

(°)

(°)69

1,004341308(*)33

663(*)

224439

4520

(°)97(D)

1,965425

85839335

20213

176250

494

1,268

Manufacturing

Total

24,765

20,343

4,097

13,205

12,90887754

1,4963,176

36279872208985

58924

3,944

29736(D)17

12090(D)

1,767

1,2741,188

3254

4,421

3,116

2,277158

1,723(°)875

11145(D)

799747

448

4010

(D)

1(*)(D)

74131003

60(D)

(D)

3838(*)(*)(*)

1,194633044

14092

257228231

8425

198

Foodand

kindredproducts

1,905

1,535

199

1,148

1,121222696

1391634880

1231266

498

28110

(*)

(D)(364

123113

55

370

276

19356932

14(*)

243

80592

19

300

(*)

1(*)

41220

(a1(D)

0(D)

00000

533011

163

16337

25

Chemi-cals and

alliedproducts

5,563

4,785

729

3,276

3,229511

3497480

1560

305(°)

440(D)

128668

465

(°)9

1118(°)0

412

369348

515

778

614

45631

3425

3426

35(*)124113

19

3310

(D)0

(*)0

(D)1144017034

22

(*)0

(*)

1519

(°)176

29(D)23171014

57

Primaryand

fabri-cated

metals

1,468

1,172

(D)

525

521195

33150

09

243

72(*)25

182

<i(*)

0400

14

(D)(D)(*)16

297

263

2422

(°)(D)(D)014

(D)2119

(*)2

(»,00

(*)000

15(D)

0(°)(D)00

(°)(*)(*)(*)

00

18(D)0

(*)1

(*)0

(°)(*)0

5


3,773

3,261

(°)

1,966

1,890131

1337457

058

1542

892

120538

762

(*)(*)67500

(D)

4237(*)

512

(D)

8(D)

0(*)00

(*)(*)22210

(*)

00000000

(*)(*)(*)

00

(*)00

(*)(*)(*)

00

(*)(D)(D)

9(D)

1500

(D)

2

(D)


2,286

1,380

196

895

880308

70280(*)4162(D)50(D)55

262

162001

1110

255

343311

906

264

1986

1571

(*)

1310

655906

100000

(*)(*)

21100

(*)0

(*)(*)3030(*)(*)

0

6112801

12437

15480

12560(*)

34

Trans-portation

equip-ment

4,939

4,219

1,075

2,865

2,854(°)

591,117

01

95127

(D)1,133

115007000

4

275(D)(D)

719

(D)

(°)(D)(D)(*)(D)(*)

09

(*)369369

00

00000000

000000000

00000

(D)0000

(*)82

(D)00

9

Othermanu-

facturing

4,830

3,991

1,172

2,529

2,413(°)

9404552

376

143(D)

210(D)(°)

662

11711(°)

31(D)(°)

(D)

(D)145(D)10

839

639

51717

4243

2712

422

118106

111

300101015

(D)00

(°)(°)(*)(*)(D)66

(*)00

18912

39

(°)107(D)

72

(D)

Whole-saletrade

3,331

2,739

229

2,022

1,6538656

409259

414

206(*)802360

455

36964613740

15854

301

187163177

592

352

28411(D)28,

62

(D)143

635265

5(*)(*)

(*)

(*)2

1462

(*)48

(*)17

3126

122

195(D)

1(D)

55

381229186

35

Finance(except

banking),insur-

ance, andreal

estate

987

834

135

511

494111

2028(*)

971

17(*)

398

17(*)

0(*)

120

(*)

76

111105

60

153

61

307

2111

(*)0

(*)0

14(D)(*)(D)

18(D)(D)(*)

1(*)(*)(*)

2(*)(*)

001

(*)0111

(*)(*)(*)89(D)(*)(*)(*)

41

(D)(*)(*)

1

Serv-ices

2,536

2,218

435

1,587

1,4274229

214201

24

930

558

58721

159(D)

<1(D)

136(*)(*)

34

162160

11

318

278

403

192

(D)(*)

11(D)(D)(D)(*)

4

(D)(D)(D)

20

(*)

311

(*)(*)

(*)(*^

1063

(*)(*)

2790

(*)(*)(*)11

1040

16

Otherindus-tries

3,209

2,325

1,069

828

72958

214193(*)(*)170

4007

243

100(D)

05

(D)

(D)(*)

(D)

(D)359

12(D)

704

283

1281221(D)

(°)

(*)89

(D)(D)

(°5)

(D)

(*)(*)

1(D)(*)(D)

34(*)(*)(*)

034(D)(*)(D)

502

(*)

383(D)

0(D)

420

1(*)(D)

9

180

209

* Less than $500,000.D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 1.2. See footnote 5, table 1.NOTE.—Estimates are for majority-owned nonbank foreign affiliates of nonbank U.S. parents.



Table 5.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1990 l


All countries

Developed countries

Canada

Europe . .

European Communities (12)Belgium ,DenmarkFranceGermany Federal Republic of .GreeceIrelandItalyLuxembour0'Netherlands . . .PortusalSpam . . .United Kingdom

Other Europe .AustriaFinlandNorway .SwedenSwitzerlandTurkey . .. . . .Other . .

Japan

Australia, New Zealand, and South AfricaAustraliaNew ZealandSouth Africa

Developing countries .


South AmericaArgentina .BrazilChileColombiaEcuador >PeruVenezuela . . .Other . . . .

Central America..MexicoPanamaOther

Other Western Hemisphere . . . . . .BahamasBermudaJamaicaNetherlands AntillesTrinidad and TobagoUnited Kingdom Islands, CaribbeanOther

Other AfricaSaharan . . . . . .

Egypt .T $>Jr • •

OtherSub-Saharan

LiberiaNigeria .Other

Middle East .IsraelSaudi Arabia ,United Arab EmiratesOther

Other Asia and Pacific .Hone KongIndiaMai iaPhiliooinesSingaporeSouth KoreaTaiwanThailandOther

Addendum— OPEC 2

Allindustries

49,924

38,673

8,489

25,020

23,0381,294

2022,5564,511

47426

1,404165

1,36199

1,0309,942

1,98213388

1,0682053848917

2,458

2,7052,458

107141

10,571

4,581

3,372336

2,2232352642644

18262

9238242079

286269

437

(D)6

(°)

1,288342303

2946(°)

3460

58869

8394

4,11429434

1,245741175413273244412282

680

1,954

Petro-leum

14,821

9,869

2,463

6,416

5,3057655

199316

633

1991

2601539

4,107

1,11118(D)

1,0068

1542(D)

(D)

(D)687(D)(D)

4,618

632

491106148

616916105

30(D)

6(°)

(D)82

(°)

(°)6

(°)

1,159322289(*)33

8371

341495

5050

(D)(°)

388

2,322538

94159348

12113

310243

334

1,450

Manufacturing

Total

25,370

20,881

4,222

13,654

13,3561,069

551,5173,499

3236585116389955

8563,994

298361015

13883151

1,844

1,1621,090

2944

4,489

3,209

2,424191

1,818

?9

1467

741704

433

4410

(°)

1(*)<°)

73131003

60(°)

4(D)

3838(*)(*)(*)

1,168502447

1401032462572007725

203

Foodand

kindredproducts

2,051

1,670

224

1,226

1,199243198

1541532860

1761164

508

28100

(*)4

(D)(D)0

(D)

(D)(D)

5

381

292

20370872

16(*)

1243

8573

112

300

(*)

1(*)

41220

(*)38(D)

0(D)

00000

483011

153

13227

25

Chemi-cals and

alliedproducts

5,686

4,851

806

3,297

3,258704

3446540

1462

301(D)

275(°)

128665

39549

101010

458

290272

513

835

655

49232

378

528(*)

127118

27

3710

(°)0

(*)0(D)

1144017034

22

(*)0

(*)

1667

(°)(D)

401132(D)

913

54

Primaryand

fabri-cated

metals

1,918

1,587

(D)

494

490284

35144

07

203

67

s152

4(*)

0(*)

0400

16

(D)(D)(*)

330

302

2862

<°)(D)

01

101

1615

(*)

(*)000

(*)000

15(D)(D)0

(°)(D)(D)

0(D)(*)(*)(*)

00

1340

(*)(*)(*)

03

(*)0

10


4,072

3,518

368

2,143

2,061130

2347511

0148166

2(D)(*)(D)

532

822

(*)

(D)

T0

(D)

(D)(D)(*)

554

(D)

(°)(D)

3520

(*)00

(*)(*)19190

(*)

00000000

(*)(*)(*)00

(*)00

(*)(*)(*)

00

(*)(D)(°)(D)

1520

(D)2

(°)


2,264

1,453

194

960

94429

876

2901

4555(D)(D)(D)(D)

293

152001

1110

257

4240

11

811

219

1603

1271

(*)

(*)260

595702

100000

(*)(*)2110010

(*)

2929(*)(*)

0

5602301

12337

163768057(*)

29

Trans-portation

equip-ment

5,004

4,280

(D)

3,167

3,156312

871,286

01

94138

3471,295

115007000

3

(D)(D)

93

725

(D)

(D)(D)

285(*)

(*)0

(D)(*)

343343

00

00000000

000000000

00000

(D)0

(D)00

(*)2

(D)00

(°)

Othermanu-

facturing

4,375

3,521

934

2,366

2,248122

6428574

270

130(D)

201(D)

117549

118116

8(D)

82

140120

811

854

646

551(°)(D)

416(*)

(42

9179

111

400101014

(D)(D)0

(D)(D)(D)(*)(D)66

(*)00

197115359

10134

1442

36

Whole-saletrade

3,277

2,704

189

1,983

1,6319352

371275

716

228(*)862165

418

35257(D)3835

147(D)(D)

307

224198

197

573

343

26910(D)14(D)

2413

5945

5(*)(*)

(*)1

(*)

1462

(*)48

(D)1

(D)

2824

112

187(D)

(D)46

301334186

32

Finance(except

banking),insur-

ance, andreal

estate

942

854

123

554

537111

1620(*)

881

17(*)

2452

17(*)

0(*)

120

(*)

51

125119

60

89

47

327

2311

(*)0

(*)043

(*)

1155

(*)1

(*)(*)(*)

3(*)(*)

003

(*)03

22

(*)(*)(*)

3621(*)(*)(*)

417

(*)(*)

1

Serv-ices

2,398

2,265

448

1,623

1,4754130

224208

24

990

558

62742

148(D)(*)

4(D)

124(*)(*)

39

155153

11

133

96

413

1923

(*)

111

3631(*)

4

1992320

(*)

311

(*)(*)

(*)(*)

2

1063

(*)(*)

2460

(*)(*)(*)111040

16

Otherindus-tries

3,115

2,101

1,044

791

73359

229194(*)(*)180

4307

229

57(D)

05

(D)4

(D)(*)

(D)

(D)212(D)(D)

669

254

11520O(D)O1(*)

6(D)(D)255

(D)

(D)

(*)(*)

(D)(*)(D)

35(*)(*)(*)

035(D)(*)(D)

401

(*)

376(D)0

(D)4

15(*)(*)(*)

18

346

253

* Less than $500,000.D Suppressed to avoid disclosure of data of individual companies.1. See footnote 1, table 1.2. See footnote 5, table 1.NOTE.—Estimates are for majority-owned nonbank foreign affiliates of nonbank U.S. parents.


By CHRISTOPHER L. BACH

U.S. International Transactions, Second Quarter 1989

_L HE U.S. current-account deficit in-creased to $31.0 billion in the secondquarter of 1989 from $30.4 billion (re-vised) in the first quarter. A shift tonet service payments, due to a largeincrease in payments of income on for-eign assets in the United States, morethan offset decreases in the merchan-dise trade deficit, due to a larger in-crease in exports than in imports, andin net unilateral transfers.

In the capital accounts, U.S. of-ficial reserve assets increased $12.1

billion, compared with a $4.0 billionincrease. Foreign official assets inthe United States decreased $4.9 bil-lion, compared with a $7.5 billion in-crease. Both accounts reflected coor-dinated intervention in the foreign ex-change markets to restrain the appre-ciation of the dollar against other lead-ing currencies.

Among the private capital accounts,U.S. claims on foreigners reported byU.S. banks shifted to a decrease of$28.5 billion following an increase of

$22.1 billion. U.S. liabilities reportedby U.S. banks, excluding U.S. Trea-sury securities, shifted to a decreaseof $22.8 billion following an increaseof $13.3 billion. Demands for bankcredit, both in the Eurodollar mar-ket and in the United States, droppedsharply. Net inflows for foreign directinvestment in the United States were$12.3 billion, compared with $19.2 bil-lion; an especially large acquisitionhad boosted inflows in the first quar-ter. In securities transactions, net U.S.

Table A.—Summary of U.S. International Transactions

[Millions of dollars, seasonally adjusted]

Line

123

456

7g

910HP

131415

1617

'P

Exports of °oods and services (1) .Merchandise excluding military (2) .Other goods and services (3) ..

Imports of goods and services (16) .Merchandise excluding military (17) . .Other goods and services (18)

U S Government °rants (excludinCT military grants of goods and servicesXS?), p

U S official reserve assets net (36) ..

u's orivate assets net (45) '

Foreian assets in the United States net (increase/ capital inflow (+))(50) . .Foreign official assets net (51) .Other foreign assets net (58) . . . .

Statistical discrepancy (65)

Revised.Preliminary.

446,138250,266195,872

-575,626-409,766-165,860

-10 149-4063

-76 2189,149

997-86 363

21803945,193

172,847

1 878

529,806319,251210,555

-641,698-446,466-195,232

-10,377-4,279

-82 110-3,5662999

-81 543

219,29938,882

180,418

-10 641

I

127,81076,44751,363

-156,492-109,893-46,599

-2233-1 131

45401,503

-14904528

27027246312,396

479

19

II

126,80078,47148,329

-157,386-109,882-47,504

-1928-971

-16 11939

-885-15 273

653345,895

59,438

-15 729

88

III

131,57380,60450,969

-160,537-110,943-49,594

-2288-1088

37 886-7,380

1 961-32 467

46 179-2,23448,413

24047

IV

143,62683,72959,897

-167,285-115,748-51,537

-3928-1,090

-32 6482,2723413

-38 332

8075910,58970,170

-19434

19

P

142,16987,91954,250

-169,033-116,297-52,736

-2340-1 186

-31 318-4,000

1 049-28 367

600077,478

52,529

1 702

89

II"

145,86590,86654,999

-173,759-118,584-55,175

-2 142-952

7 476-12,095

-37219943

-3,117-4948

1,831

26629

Change:1989 I-II

3,6962,947

749

-4,726-2,287-2,439

198234

38794-8,095-1 42148310

-63 12412426

-50,698

24927

Table B.—Selected Transactions with Official Agencies


1234

5

66a6b

Changes in foreign official assets in the United States net (decrease — ) (table 1 line 51)Industrial countries ' . . .Members of OPEC 2

Other countries

Activity under U.S. official reciprocal currency arrangements with foreign monetary authorities: 3

Drawings ,Repayments...

45 19349337-9955

5 811

9 149

-167446

-613

38 88?30215-3 10911 776

-3 566

171,913

-1,896

I

2463120689-1 547

5489

1 503

129550

-421

19

II

5 8957238

-1 776433

39

11050

-160

88

III

-2934-3 106

-4591 331

7 380

-501 233

-1283

IV

105895 393

6724524

2272

4880

-32

19

I'

74781 3717 1431 036

4000

402450-48

89

11"

49486900

2811 671

12 095

—450

-450

Change:1989 I-II

P4?68271

—6 8622 707

8 095

-852-450-402

r Revised.' Preliminary.1. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.2. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries.3. Consists of transactions of the Federal Reserve System and the U.S. Treasury Department's Exchange Stabilization Fund.

28



purchases of foreign stocks more thantripled to $4.1 billion.

The statistical discrepancy (errorsand omissions in recorded transac-tions) was an inflow of $26.6 billion,compared with an inflow of $1.7 billion.

U.S. dollar in exchange markets

The dollar appreciated 5 percent ona trade-weighted quarterly average ba-sis against the currencies of 10 indus-trial countries and 3 percent againstthe currencies of 22 OECD countriesand 4 newly industrialized countries inthe Far East (table C, chart 2).

The dollar reached a 21/2-year highagainst the German mark and a lx/2-year high against the Japanese yen.The strengthening occurred against abackground of mixed expectations asto how much, if any, U.S. monetaryauthorities might ease monetary pol-icy after a year of gradual tighten-ing. Available measures indicatedsome slowing of the economy, althoughbroad measures of prices continued torise more rapidly than in 1988 as a re-sult of sharp upward pressures on en-ergy and food prices.

The strength of the dollar wasattributable by many observers tosmaller-than-anticipated U.S. tradedeficits for March and April, politi-cal troubles in China and Japan, andfavorable U.S. bond and equity mar-kets. Heavy, coordinated interventionin mid-May and mid-June slowed theappreciation only temporarily. A risein foreign interest rates in May andearly June while U.S. rates droppedsharply also appeared to have little im-mediate effect on restraining the de-mand for dollars. In the last 2 weeksof June, the dollar gave up some of itsgains.

The dollar appreciated 4 percent against the South Korean won; it wasagainst most European currencies and virtually unchanged against the Singa-7 percent against the Japanese yen and pore dollar,the British pound; it was unchangedagainst the Canadian dollar. The Merchandise tradedollar appreciated 6 percent againstthe Taiwan dollar, 2 percent against The merchandise trade deficit de-the Hong Kong dollar, and 1 percent creased to $27.7 billion in the sec-

Indexes of Foreign Currency Price of the U.S. Dollar(December 1980 = 100)

CHART 2

140

130

120

110

100

90

TRADE-WEIGHTED AVERAGES

26 Currencies1

M I I I I I I I I I I M [ M II I I M 1 L t \ \ A \ \ \ \ I Pi- M M I I I. M M1986 1987 1988 1989

1. Currencies of 22 OECD countries—Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Federal Republic of Germany,Greece, Iceland, Ireland, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom—plusHong Kong, South Korea, Singapore, and Taiwan.Data: U.S. Department of the Treasury. End-of-month rates.2. Currencies of Belgium, Canada, France, Federal Republic of Germany, Italy, Japan, Netherlands, Sweden, Switzerland, and United Kingdom.Data: Federal Reserve Board. Monthly average rates. Index rebased by BEA.

U S. Department of Commerce, Bureau of Economic Analysis i

Table C.—Indexes of Foreign Currency Price of the U.S. Dollar[December 1980=100]

Trade wei hted avera-e a-ainst 26 currencies '

Trade wei hted avera e a ainst 10 currencies >

Selected currencies: 3

United KingdomEuropean Monetary System currencies' Belgium

France .Germany Federal Republic ofItalyNetherlands . . . .

Switzerland . . .Japan . .

II

99 1

995

102.8127.6112.8126.9868

135.989.779.659.9

1988

III

1029

107 3

102.0138.5123.6138.9949

148.498.687.863.6

IV

982

1023

100.9131.1117.4133.0902

141.093.783.959.6

19

I

1004

1056

99.6134.4122.5138.394.2

145.297.888 861.2

89

II

1038

1104

99.8144.4127.7143.6982

150.1102.095.165.7

June

1014

101 8

101.8132.1116.2130.2894

139.992.582.160.7

July

1022

1062

101.0137.7122.0136.793.9

146.497.586.163.3

Aug.

103 5

108 1

102.3138.4124.9140.4960

149.799.888.963.7

1988

Sept.

1030

1077

102.6139.4123.9139.594.9

149.298.688.563.9

Oct.

993

1046

100.8135.0120.21361924

145.095.986.361.3

Nov.

968

101 1

101.9129.8115.8131.2890

139.192.482.458.6

Dec.

984

101 1

100.0128.6116.21317893

138.892.883.158.8

Jan.

999

1046

99.6132.4121.5137.3934

143.897.087.760.6

Feb.

99 8

1054

99.4133.912251384941

145.097.888.4608

19

Mar.

101 5

1067

99.9137.0123.4139.1950

146.898.790.462.1

89

Apr.

1010

1070

99.4138.0123.7138895 1

146.698.8925629

May

105 3

1109

99.7144.012871445990

150.7102.797.1657

June

1050

1134

100.2151.2130.814741006152.9104.495.968.5

1. Currencies of 22 OECD countries — Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland,France, Federal Republic of Germany, Greece, Iceland, Ireland, Italy, Japan, Netherlands, New Zealand, 2. Currencies of Belgium, Canada, France, Federal Republic of Germany, Italy, Japan, Netherlands,Trance, rcuerai rvcpuimu ui vjcimany, vjicct-c, iwciaiiu, nciauu, naiy, japan, i>cinciiaiiu:>, new ^cmanu, _ . „ . --L . • . • ' —r -- — j» y > ^«r...., ........ v...^.^,Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom—plus Hong Kong, South Korea, ^weden, Switzerland, and United Kingdom. Data: Federal Reserve Board. Monthly and quarterly average rates.Singapore, and Taiwan. Data: U.S. Department of the Treasury. End-of-month rates for months; averages ofend-of-month rates for quarters.

Index rebased by BEA.3. Data: Federal Reserve Board. Monthly and quarterly average rates. Indexes prepared by BEA.



ond quarter from $28.4 billion in thefirst quarter, as exports increased morerapidly than imports. Both exportsand imports reached record levels.

Exports.—Exports increased $2.9 bil-lion, or 3 percent, to $90.9 billion; vol-ume increased 4 percent. Nonagrieul-tural exports increased, and agricul-tural exports were unchanged.

Nonagricultural exports increased$3.0 billion, or 4 percent, all in vol-ume, to a record $80.1 billion. Al-though growth appears to have slowedslightly over the past three quarters,exports are 16 percent above a yearago, and their growth (mostly in vol-ume) remains broadly based by com-modity. Economic expansion abroadand the cumulative impact of dollar de-preciation since 1985 continue to spurexport growth, although dollar appre-ciation in 1989 may be a restrainingfactor in the near future.

Nonagricultural industrial suppliesand materials increased $1.5 billion to$23.3 billion; chemicals increased $0.7billion, mostly to Western Europe, In-dia, and Canada. Capital goods in-creased $1.4 billion to $32.1 billion;nonelectric machinery increased $0.8billion, mostly to Canada, and civilianaircraft, engines, and parts increased$0.6 billion, mostly to Western Eu-rope. Consumer goods increased $0.6billion. Automotive products decreased$0.3 billion, primarily because ship-ments to Canada declined.

Agricultural exports were virtuallyunchanged at $10.7 billion; volumewas also virtually unchanged. Ship-ments of wheat decreased $0.5 bil-lion, largely to the Soviet Union; soy-beans to Western Europe and tobaccoto Japan also decreased. These de-creases were nearly offset by an in-crease in shipments of corn and otherfeedgrains, mostly to South Korea andTaiwan. The average price of soybeansdecreased 4 percent; cotton, 3 percent;and corn, 2 percent. The average priceof wheat increased 2 percent.

Imports.—Imports increased $2.3billion, or 2 percent, to $118.6 billion;volume increased 2 percent. Petroleumimports increased, and nonpetroleumimports decreased slightly.

Nonpetroleum imports decreased$0.3 billion, or less than 1 percent,to $105.2 billion; volume increased 1percent. With the exception of capitalgoods, imports in major commodity cat-egories have continued to moderate ordecline. Much of the slowdown reflectsthe cumulative impact of dollar depre-ciation since 1985.

Table D.—Selected Direct Investment Transactions with Netherlands Antilles Finance Affiliates


(Credits +; debits -)

CapitalEquity capitalReinvested earningsIntercompany debt

IncomeOf which interest

1987

-2,9921,342-535

-3,799

-2,205-3,334

1988

-2,7282,524-212

-5,040

-2,120-2,870

I

-368

-192122

-610-872

19

II

-1,313561-76

-1,798

-525-778

87

III

-1,192147

-153-1,186

-574-853

IV

-484566

-114-936

-496-831

I

-1,2952

-171-1,126

-551-736

19

II

-1,451120102

-1,673

-460-695

88

in

-788

-65-21

-578-691

IV

962,394

-78-2,220

-531-748

19

I"

-78241

-153-671

-403-575

89

II"

-1,75049

-87-1,713

-431-597

p Preliminary." Revised.NOTE.—Table shows only transactions with affiliates established primarily to borrow funds abroad and relend them to their U.S. parents.

The largest decrease in nonpetro-leum imports was in automotive prod-ucts, which declined $1.7 billion to$21.2 billion. The decrease in passen-ger cars reflects the slowdown in U.S.sales of both domestic and foreign carsover the past year. In the second quar-ter, the number of passenger cars im-ported from South Korea decreased 42percent; West Germany, 37 percent;Japan, 9 percent; and Canada, 5 per-cent. Passenger cars imported fromMexico increased 31 percent. Non-petroleum industrial supplies and ma-terials decreased $0.5 billion; papers,chemicals, and building materials alldeclined. Capital goods increased $1.1billion to $28.3 billion; civilian aircraft,engines, and parts accounted for $0.6billion of the increase, and computers,peripherals, and parts accounted for$0.3 billion of the increase. Consumergoods increased $0.7 billion to $25.3billion; manufactured consumer non-durables increased $0.6 billion, mostlyfrom South Korea and Taiwan.

Petroleum imports increased $2.6billion, or 24 percent, to $13.4 billion;volume increased 4 percent. As in thefirst quarter, most of the increase wasdue to higher prices. The average priceper barrel increased to $18.46 from$15.54. The average number of barrelsimported daily increased to 7.97 mil-lion from 7.65 million. Consumptiondecreased, inventories increased, anddomestic production was unchanged.

Balances by area.—The deficits withthe industrial countries and the newlyindustrialized countries in the FarEast have decreased sharply since thefourth quarter of 1988. In the secondquarter of 1989, the deficit with theindustrial countries dropped to $14.0billion from $16.6 billion in the firstquarter and $20.4 billion in the fourthquarter of 1988, because of the contin-ued increase in exports and continueddecrease in imports. The deficit withthe newly industrialized countries only

dropped to $5.5 billion in the secondquarter from $5.8 billion in the first,but was still well below the $8.0 bil-lion of the fourth quarter; exports haveexpanded less and imports have de-creased less for these countries thanfor the industrial countries. In con-trast, the deficit with OPEC-membercountries increased to $5.0 billion from$3.1 billion and $1.7 billion due tothe higher prices of petroleum imports.The deficit with the other (non-OPEC)developing countries also increased, to$3.3 billion from $3.0 billion and $1.9billion, as imports expanded more thantwice as fast as exports.

Service transactions

Transactions in the service accountsshifted to a deficit of $0.2 billion in thesecond quarter from a surplus of $1.5billion in the first quarter. Receipts in-creased to $55.0 billion from $54,3 bil-lion; services such as travel and othertransportation accounted for most ofthe increase. Payments increased to$55.2 billion from $52.7 billion; pay-ments of income on direct and portfolioinvestments more than accounted forthe increase.

Direct investment income.—Receiptsof income on U.S. direct investmentabroad decreased to $7.8 billion from$9.1 billion; an increase in capital(currency translation) losses resultingfrom the stronger dollar, especiallyfor affiliates in Western Europe (pre-dominantly the United Kingdom) andJapan, accounted for much of the de-crease. Operating earnings were alsolower, as a decrease in earnings of non-petroleum affiliates more than offsetan increase in earnings of petroleumaffiliates.

Payments of income on foreign di-rect investment in the United Statesincreased to $3.9 billion from $3.2 bil-lion. A strong performance in U.S. cap-ital markets led to capital gains of $0.3



Table E.—U.S. Merchandise Trade, Current and Constant (1982) Dollars

[Balance of payments basis, millions of dollars, quarters seasonally adjusted]

ExportsAgricultural productsNonagricultural products...

ImportsPetroleum and productsNonpetroleum products

Current dollars

1987

250,26629,547

220,719

409,76642,944

366,822

1988

319,25138,142

281,109

446,46639,309

407,157

1988

II

78,4719,405

69,066

109,88210,24899,634

III

80,6049,927

70,677

110,9439,775

101,168

IV

83,7299,789

73,940

1 15,7489,218

106,530

1989

I"

87,91910,76377,156

116,29710,850

105,447

II'

90,86610,73280,134

118,58413,427

105,157

Constant (1982) dollars

1987

279,98634,920

245,066

437,74678,223

359,523

1988

340,60937,649

302,960

464,99986,238

378,761

1988

II

84,2699,706

74,563

114,11721,21792,900

III

84,6759,049

75,626

116,07921,62694,453

IV

88,0279,056

78,971

119,73822,59397,145

1989

I'

91,56510,03181,534

118,58721,96496,623

II '

94,81610,06884,748

120,54822,87497,674

1 Revised.' Preliminary.

billion on the portfolios of British andCanadian insurance affiliates. Oper-ating earnings of manufacturing andother affiliates (mostly finance and in-surance) rebounded from a depressedfirst quarter.

Portfolio income.—Receipts of in-come on other private investmentabroad increased to $18.0 billion from$16.5 billion, largely due to the laggedimpact of sharply higher interest ratesin the first quarter.

Payments of income on other privateinvestment in the United States andon U.S. Government assets increasedto $19.4 billion from $17.9 billion andto $8.6 billion from $8.1 billion, respec-tively; both of the increases were dueto the lagged impact of the rise in in-terest rates.

Other services.—Travel receipts in-creased $0.4 billion to $8.3 billion.Most of the increase was in receiptsfrom Western Europe. Receipts fromCanada increased slightly, and re-ceipts from Mexico were unchanged.Travel payments decreased $0.3 billionto $8.2 billion. A decrease in overseaspayments was partly offset by an in-crease in payments to Mexico. Pay-ments to Canada were unchanged.

Passenger fare receipts decreased$0.2 billion to $2.4 billion, and passen-ger fare payments decreased $0.1 bil-lion to $2.1 billion.

Other transportation receipts in-creased $0.2 billion to $5.3 billion; in-creased freight earnings and port ser-vices receipts resulted from a pickup inU.S. merchandise trade. Other trans-portation payments were unchangedat $5.1 billion. An increase in oceanfreight payments offset a drop in airfreight payments.

Receipts from foreigners for otherprivate services increased $0.3 billionto $7.0 billion, mostly because of a risein commissions earned by U.S. brokersfrom sharply higher activity in U.S.Treasury bonds and in stocks. Pay-

ments to foreigners for other privateservices increased $0.1 billion to $3,3billion; commissions paid to foreignbrokers changed little.

Both transfers under U.S. militarysales contracts, at $2.0 billion, and di-rect defense expenditures abroad, at$3.7 billion, were virtually unchanged.

Unilateral transfers

Net unilateral transfers were $3.1billion in the second quarter, comparedwith $3.5 billion in the first quarter.A drop in U.S. Government grants ac-counted for one-half of the decrease,

U.S. assets abroad

U.S. assets abroad decreased $7.5billion in the second quarter followingan increase of $31.3 billion in the firstquarter.

U.S. official reserve assets.—U.S. offi-cial reserve assets increased $12.1 bil-lion, compared with an increase of $4.0billion. Large exchange market inter-vention purchases of German marksand Japanese yen in May and Junecontributed to an increase in foreigncurrency holdings.

Claims reported by banks.—U.S.claims on foreigners reported by U.S.banks decreased $28.5 billion follow-ing a $22.1 billion increase. Claims onown foreign offices decreased $13.3 bil-lion following an increase of $14.6 bil-lion, and claims on unaffiliated banksdecreased $3.6 billion following an in-crease of $0.7 billion. The swingswere dominated by activities of foreign-owned banks, especially Japanesebanks, both in dollar-denominated andforeign-currency-denominated transac-tions.

U.S. claims payable in dollars onJapan decreased $11.7 billion followinga $14.9 billion increase, as Japanesedemand for credit dropped sharplyin the second quarter after especiallystrong interbank borrowing in the first

quarter. Demand for dollar creditsby the United Kingdom—U.S. claimsdecreased $6.9 billion following a de-crease of $0.8 billion—reflected theworldwide falloff in the interbank de-mand for credit and included the re-payment of funds borrowed in the firstquarter to finance acquisitions in theUnited States. U.S. claims on Canadadecreased $3.6 billion despite a con-siderable drop in the cost of funds inthe United States relative to that inCanada.

Claims payable in foreign currenciesdecreased $9.9 billion, nearly all onJapan, following an increase of $3.7billion. The decrease partly reflectedthe repatriation to the Japanese do-mestic market of business booked inthe United States.

Banks' domestic customers' claimsdecreased $3.3 billion following an in-crease of $5.7 billion, as U.S. moneymarket mutual funds sold Eurodol-lar CD's held by U.S. banks' over-seas branches, especially in the UnitedKingdom.

Foreign securities.—Net U.S. pur-chases of foreign securities were $5.9billion, compared with $2.6 billion.Purchases of foreign stocks more thantripled to $4.1 billion; these purchasesfar exceeded the previous record fornet purchases of $1.9 billion set in thefirst quarter of 1986. Net purchases ofbonds increased moderately.

Net U.S. purchases of stocks were$4.1 billion, compared with $1.3 bil-lion. Most of the step-up was in West-ern Europe where many stock mar-kets continued to rise strongly. Strongdollar appreciation against Europeancurrencies encouraged purchases. Netpurchases of British stocks were $3.1billion, as an 8-percent increase inBritish stock prices bolstered U.S. in-vestment there. Net purchases ofFrench, German, and Swiss stocks in-creased, mostly in June, as stock pricesin those countries continued to rise.Net sales of Japanese stocks were $1.0billion in the second quarter, in con-trast to net purchases of $0.6 billionin the first, as investors sold stocks,mostly in June, when Japanese stockprices declined 3 percent after a longrise.

Net U.S. purchases of foreign bondswere $1.8 billion, compared with $1.2billion; the rise was due to a step-upin already strong purchases of Britishgilt-edged securities. Net purchaseswere bolstered when the interest dif-ferential favoring British securities in-creased to more than 1 percent by


32

the end of the quarter as U.S. inter-est rates fell sharply and British ratesincreased slightly; the dollar also ap-preciated strongly against the pound.Net sales of German bonds droppedsharply. Redemptions of outstandingbonds declined to $1.2 billion from $1.4billion.

Net purchases of bonds newly is-sued in the United States, which werevery small in April and May, surged inJune; for the quarter, purchases were$1.6 billion. Canadian borrowing wasslightly stronger than in the first quar-ter; Latin American regional organiza-tions, absent in the first quarter, re-turned in the second. Western Eu-ropean issues declined to $0.2 billionfrom $0.7 billion.

Direct investment.—Net outflows forU.S. direct investment abroad were$2.7 billion, compared with $5.5 bil-lion. A shift in equity capital to netoutflows was more than offset by de-creases in intercompany debt outflowsand in reinvested earnings. The shiftto equity capital outflows of $1.7 bil-lion from inflows of $3.2 billion wascentered in Canada and Japan. InCanada, inflows had been boosted bythe sale of a large petroleum affili-ate in the first quarter; in the sec-ond quarter, several large and nearlyoffsetting transactions occurred in thepetroleum industry. In Japan, therewas a large increase in an equity posi-tion in an automotive parts company.Net intercompany debt outflows were$0.2 billion, compared with $4.9 bil-lion. Nearly all of the decline was ac-counted for by shifts to inflows fromCanada and the United Kingdom. InCanada, there were no outflows com-parable in size to the large purchaseof a paper products company in thefirst quarter, and in the United King-dom, affiliates in finance loaned fundsto U.S. parents. Reinvested earningswere $0.8 billion, compared with $3.8billion, as capital losses increased andoperating earnings decreased.

Foreign assets in the United States

Foreign assets in the United Statesdecreased $3.2 billion in the secondquarter, compared with a $60.0 billionincrease in the first quarter.

Foreign official assets.—Foreign of-ficial assets in the United States de-creased $4.9 billion compared with anincrease of $7.5 billion (table B). As-sets of industrial countries decreased$6.9 billion, largely reflecting interven-


tion sales of dollars in exchange mar-kets to limit depreciation of their cur-rencies against the dollar. Assets ofOPEC members increased $0.3 billion,and assets of other countries increased$1.7 billion.

Liabilities reported by banks.—U.S.liabilities reported by U.S. banks, ex-cluding U.S. Treasury securities, de-creased $22.8 billion following an in-crease of $13.3 billion. Liabilitiesto own foreign offices decreased $14.3billion following an increase of $1.0billion, and liabilities to unaffiliatedbanks decreased $8.0 billion followingan increase of $7.8 billion.

Following a first-quarter increase inliabilities payable in dollars, mostlyto Japan and reflecting a strong de-mand for funds from U.S. banks andbranches of foreign banks in theUnited States, there was a sharp dropin the demand for funds by banksin the United States in the secondquarter. Sustained deposit growth atbanks in the United States, coupledwith a decrease in acquisitions and theneed to finance them, reduced fund-ing by banks in Western Europe andJapan. In addition, the sharp dropin U.S. short-term interest rates rel-ative to foreign rates discouraged de-posits in the United States despitefurther dollar appreciation. Reduc-tions in liabilities to Caribbean bank-ing centers were small. Liabilities toCanada, which had risen sharply in thefirst quarter, when U.S. interest ratesrose much more than Canadian rates,subsequently decreased by an almostequal amount in the second quarter asU.S. rates fell and Canadian rates con-tinued to rise.

Banks' custody liabilities increased$3.4 billion, as the prime-Libor interestspread still favored borrowing overseasby U.S. nonbank residents.

Liabilities payable in foreign curren-cies, nearly all to Japan, decreased$8.1 billion because of sharp declinesin interbank demand for yen and in theneed to fund yen-based lending frombanks in the United States.

U.S. Treasury securities.—Net for-eign purchases of U.S. Treasury se-curities were $2.7 billion, comparedwith $8.6 billion. Much of the de-crease was attributable to large netsales by Japanese residents in June.West German residents were net sell-ers throughout the quarter; the re-peal of the recently imposed withhold-ing tax on German securities may havecontributed to a reflow of funds to Ger-

September 1989

many. Interest rates on both U.S.bonds and notes fell sharply (chart 3).

Other U.S. securities.—Net foreignpurchases of U.S. securities other thanU.S. Treasury securities were $9.6 bil-lion, compared with $8.7 billion. For-eigners shifted to large net purchasesof stocks while reducing their net pur-chases of bonds.

Foreigners, who had net sales ofstocks of $0.1 billion in the first quar-ter, had net purchases of $3.4 billion inthe second (mostly in May and June)—the highest level since the third quar-ter of 1987. The U.S. stock marketrose 11 percent during the second quar-ter, boosted by a sustained rise in cor-porate earnings and a sharp drop ininterest rates. Japanese investors ac-counted for one-half of net purchases,as they switched to stocks from bonds,after net sales of stocks in the firstquarter. They purchased $1.8 billion inthe second quarter, influenced partlyby the dollar's substantial gain overthe yen. Political events in Japan andChina may also have encouraged in-flows into U.S. stocks. Net purchasesby the United Kingdom were large at$1.1 billion compared with $0.7 billion.Net purchases by other Western Eu-ropean countries may have been tem-pered by the strong rise in Europeanstock prices; purchases by many ofthese countries slowed, especially pur-

CHART 3

Short- and Long-term Interest RatesPercent

11

10

3-month EurodollarDeposits

10-year U.S.Treasury Bond

I I I I I I I I I I I I I I I I IJ F M A M J J A S O N D J F M A M J

1988 1989

Data: Federal Reserve Board.U.S. Department of Commerce, Bureau of Economic Analysis 89-9-3



chases by Switzerland. Net purchasesby institutions in the Caribbean slowedto $0.6 billion, one-third the amount ofthe previous quarter.

New issues abroad by U.S. corpo-rations were $5,7 billion, comparedwith $4.6 billion, partly because bondrates dropped almost 1 percent inthe second quarter. U.S. corporationsstepped up their borrowing at homeand abroad proportionately, utilizingoverseas markets to raise 14 percent oftheir funding, unchanged from the per-

centage in the previous quarter. Mostissues continued to be straight fixed-rate issues denominated in dollars.

Net purchases of agency and otheroutstanding bonds were $0.5 billion,compared with $4.2 billion.

Direct investment.—Net inflows forforeign direct investment in the UnitedStates were $12.3 billion, comparedwith $19.2 billion. A reduction in in-tercompany debt inflows to $4.5 billionfrom $13.1 billion more than accountedfor the decline; a multibillion dollar

purchase of a U.S. food manufacturingcompany by a company in the UnitedKingdom had boosted inflows in thefirst quarter. Equity capital inflowswere $6.7 billion, compared with $5.8billion. Inflows from Western Europeincluded a large increase in an equityposition in a U.S. communications com-pany and inflows from Japan includeda large increase in a joint-venture po-sition in a U.S. steel company. Rein-vested earnings were $1.2 billion, com-pared with $0.2 billion.



Table 1.—U.S. International Transactions


Line

1

2

34

567

89

10

11121314

15

16

17

1819

202122

232425

26272829

30

31

32

3334

35

3637383940

41424344

45464748

49

50

51525354555657

5859606162

63

64

6566

6768697071

7273

(Credits +; debits -) !


Merchandise, adjusted, excluding military3

Services 4

Transfers under U S military agency sales contracts . . .

TravelPassenger fares . .Other transportation ... . . .

Other private services 6 <

Receipts of income on U S assets abroadDirect investment

U S Government receipts ...

Transfers of goods and services under U.S. military grantprograms, net.

Imports of goods and services . *

Merchandise adjusted excluding military 3

Services 4 . . . . . .

Travel

Other private services 6 ,U S. Government miscellaneous services

Direct investment

U S Government oavments

U S military grants of goods and services, net

Unilateral transfers (excluding military grants of goods andservices), net.

U.S. Government grants (excluding military grants of goods andservices).

U S assets abroad net (increase/capital outflow (— ))

U S official reserve assets net 7 ... .Gold

Reserve position in the International Monetary FundForeign currencies . . . . ...

U S Government assets other than official reserve assets, netU S credits and other long-term assetsRepayments on U S credits and other long-term assets 8

U.S. foreign currency holdings and U.S. short-term assets, net

U S. private assets, netDirect investmentForeign securities . . .U.S. claims on unaffiliated foreigners reported by U.S. nonbanking

concerns.U S claims reported by U S banks not included elsewhere .

Foreign assets in the United States, net (increase/capital inflow (+))...

Foreign official assets in the United States netU S Government securities . .

Other10

Other U S Government liabilities "U.S. liabilities reported by U.S. banks, not included elsewhereOther foreign official assets 12

Other foreign assets in the United States, net

U S Treasury securities .U S securities other than U S Treasury securitiesU.S. liabilities to unaffiliated foreigners reported by U.S.

nonbanking concerns.U.S. liabilities reported by U.S. banks, not included elsewhere

Allocations of special drawing rights

Statistical discrepancy (sum of above items with sign reversed)

Memoranda:Balance on merchandise trade (lines 2 and 17)

Balance on goods and services (lirtes 66 and 67) 13

Balance on goods, services, and remittances (lines 68, 33, and 34)Balance on current account (lines 68 and 31) 13

Transactions in U.S. official reserve assets and in foreign officialassets in the United States:Increase (-) in U.S. official reserve assets, net (line 36)Increase (+) in foreign official assets in the United States (line 51

less line 55).

1988

529,806

319,251

210,55510,050

29,2028,860

18,930

10,73524,331

672

107,77548,26452,8406,672

92

-641,698

-446,466

-195,232-14,656

-32,112-7,872

-19,641

-2,048-11,400-1,955

-105,548-16,748-59,746-29,054

-92

-14,656

-10,377

-2,491-1,788

-82,110

-3,566

4741,025

-5,064

2,999-7,57910,313

265

-81,543-17,533-7,846-1,684

-54,481

219,299

38,88242,99241,683

1,309-1,284

-331-2,495

180,41858,43620,14426,4486,558

68,832

-10,641

-127,21515,323

-111,892-116,171-126,548

-3,56640,166

Not seasonally adjusted

1988

I

127,448

77,011

50,4372,665

5,7511,7714,605

2,3776,583

124

26,56112,11511,7242,722

41

-151,674

-107,464

-44,210-3,629

-6,181-1,702-4,883

-474-2,918

-468

-23,955-3,807

-13,509-6,639

-41

-3,330

-2,233

-494-603

3,892

1,503

155446901

-1,673-2,808

1,031105

4,061-6,600-4,539

-65

15,266

27,027

24,63127,54027,702

-162-304

-1,772-833

2,3969,6165,9282,4241,565

-17,137

-3,364

-30,4536,227

-24,226-25,323-27,556

1,50324,935

II

129,075

80,461

48,6142,604

7,0312,1804,769

2,5485,514

179

23,79010,20312,3821,205

4

-160,164

-111,473

-48,691-3,637

-8,679-2,062-5,005

-539-2,699

-457

-25,613-4,512

-14,001-7,100

-4

-2,786

-1,928

-589-269

-19,443

39

18069

-210

-829-2,017

1,16622

-18,653-9411,333

-6,443

-12,602

65,334

5,8956,0555,853

202-517

774-417

59,43813,8855,4589,699

-59

30,455

-12,015

-31,012-77

-31,089-31,947-33,875

396,412

III

129,305

77,547

51,7582,645

9,1182,8584,800

2,5566,008

189

23,5858,649

13,6131,323

7

-162,910

-110,252

-52,658-3,651

-10,598-2,347-4,923

-550-2,749

-530

-27,310-4,373

-15,396-7,541

-7

-3,322

-2,288

-537-497

-37,855

-7,380

-35202

-7,547

2,001-1,458

3,40257

-32,477-4,912-1,592

255

-26,229

46,179

-2,234-3,197-3,769

572-2321,703-508

48,41311,8963,4227,4542,350

23,291

28,603

-32,705-900

-33,605-34,638-36,926

-7,380-2,002

IV

143,978

84,232

59,7462,136

7,3022,0514,757

3,2546,227

181

33,83917,29715,1211,421

40

-166,951

-117,277

-49,674-3,740

-6,654-1,761-4,830

-485-3,034

-500

-28,670-4,056

-16,840-7,774

-40

-5,218

-3,928

-871-420

-28,703

2,272

173307

1,791

3,499-1,296

4,71481

-34,474-5,080-3,047

4,569

-30,916

80,759

10,58912,59411,897

697-232

-1,036-737

70,17023,0385,3366,8712,702

32,223

-23,865

-33,04510,072

-22,973-24,263-28,191

2,27210,821

1989

I'

141,081

87,977

53,1042,135

710322,1304,981

2,7057,426

155

26,5418,923

16,4891,129

12

-163,594

-113,350

-50,244-3,633

-6,499-1,855-4,936

-450-3,146

-480

-29,246-3,171

-17,943-8,132

-12

-3,481

-2,340

-507-635

-31,588

-4,000

-188316

-4,128

869-1,000

1,8654

-28,457-5,592-2,568

1,835

-22,132

60,007

7,4785,3554,634

721-3041,974

452

52,52919,1618,5908,6652,852

13,261

-2,425

-25,3732,860

-22,513-23,654-25,994

-4,0007,781

II*

148,439

93,222

55,2172,020

8,3472,4655,277

2,8796,516

149

27,5658,550

18,027987

14

-176,340

-119,972

-56,368-3,650

-9,214-2,288-5,115

-425-3,230

-500

-31,947-3,920

-19,437-8,590

-14

-2,877

-2,142

-489-246

4,926

-12,095

68-159

-12,004

-318-1,128

8101

17,339-5,280-5,908

n.a.

28,527

-3,117

-4,948-9,855-9,763

-92396

3,924587

1,83112,3312,7229,600

n.a.

-22,822

28,969

-26,750-1,151

-27,901-28,636-30,778

-12,095-5,344

Seasonally adjusted

1988

I

127,810

76,447

51,3632,665

6,5182,1154,675

2,5175,974

149

26,75012,29711,7242,729

41

-156,492

-109,893

-46,599-3,629

-8,092-2,037-5,033

-474-2,902

-477

-23,955-3,807

-13,509-6,639

-41

-3,364

-2,233

-620-511

4,540

1,503

155446901

-1,490-2,808

1,213105

4,528-6,134-4,539

-65

15,266

27,027

24,63127,54027,702

-162-304

-1,772-833

2,3969,6165,9282,4241,565

-17,137

4793,843

-33,4464,764

-28,682-29,813-32,046

1,50324,935

II

126,800

78,471

48,3292,604

6,9682,0854,769

2,6105,973

172

23,1489,439

12,3821,327

4

-157,386

-109,882

-47,504-3,637

-7,643-1,903- ,995

-539-2,718

-456

-25,613-4,512

-14,001-7,100

-4

-2,899

-1,928

-622-349

-16,119

39

18069

-210

-885-2,017

1,11022

-15,2732,4391,333

-6,443

-12,602

65,334

5,8956,0555,853

202-517

774-417

59,43813,8855,4589,699

-59

30,455

-15,729-3,714

—31 411825

-30,586-31,557-33,485

396,412

III

131,573

80,604

50,9692,645

7,6262,3214,710

2,6976,078

172

24,7209,940

13,6131,167

7

-160,537

-110,943

-49,594-3,651

-8,084-1,902-4,826

-550-2,780

-491

-27,310-4,373

-15,396-7,541

-7

-3,376

-2,288

-626-462

-37,886

-7,380

-35202

-7,547

1,961-1,458

3,36257

-32,467-4,901-1,592

255

-26,229

46,179

-2,234-3,197-3,769

572-2321,703-508

48,41311,8963,4227,4542,350

23,291

24,047-4,556

-30,3391,375

-28,964-30,052-32,340

-7,380-2,002

IV

143,626

83,729

59,8972,136

8,0902,3394,776

2,9116,306

180

33,15916,58915,1211,449

40

-167,285

-115,748

-51,537-3,740

-8,293-2,031-4,787

-485-3,000

-531

-28,670-4,056

-16,840-7,774

-40

-5,018

-3,928

-623-467

-32,648

2,272

173307

1,791

3,413-1,296

4,62881

-38,332-8,938-3,047

4,569

-30,916

80,759

10,58912,59411,897

697-232

-1,036-737

70,17023,0385,3366,8712,702

32,223

-19,4344,431

-32,0198,360

-23,659-24,749-28,677

2,27210,821

1989

I'

142,169

87,919

54,2502,135

7,9052,5355,052

2,8556,766

172

26,8309,137

16,4891,204

12

-169,033

-116,297

-52,736-3,633

-8,448-2,232-5,109

-450-3,129

-489

-29,246-3,171

-17,943-8,132

-12

-3,526

-2,340

-643-543

-31,318

-4,000

-188316

-4,128

1,049-1,000

2,0454

-28,367-5,502-2,568

1,835

-22,132

60,007

7,4785,3554,634

721-3041,974

452

52,52919,1618,5908,6652,852

13,261

1,7024,127

-28,3781,514

-26,864-28,050-30,390

-4,0007,781

II"

145,865

90,866

54,9992,020

8,2772,3615,277

2,9407,023

169

26,9327,773

18,0271,132

14

-173,759

-118,584

-55,175-3,650

-8,175-2,124-5,104

-425-3,251

-499

-31,947-3,92Q

-19,437-8,590

-14

-3,094

-2,142

-625-327

7,476

-12,095

68-159

-12,004

-372-1,128

7551

19,943-2,676-5,908

n.a.

28,527

-3,117

-4,948-9,855-9,763

-92396

3,924587

1,83112,3312,7229,600

n.a.

-22,822

26,629-2,340

-27,718-176

-27,894-28,846-30,988

-12,095-5,344

See footnotes on page 52.



Table 2.—U.S. Merchandise Trade


Line

A

1

2

3

456

7

8

9

1011121314

15

16

B

1

23456789

1011

12131415

16

1718192021

22232425262728293031

32

333435

Balance of payments adjustments to Census trade data:

EXPORTS

Merchandise exports, Census basis l including reexports and includingmilitary grant shipments. ; ,rn

Adjustments:

Private gift parcel remittances . . '... ..

Gold exports nonmonetary . ..

Inland U.S. freight to CanadaU S -Canadian reconciliation adjustments n e e net 2 .Merchandise exports transferred under U.S. military agency sales

contracts identified in Census documents 3.Other adjustments net4..

Equals: Merchandise exports, adjusted to balance of payments basisexcluding "military" (table 1, line 2).

IMPORTS

Merchandise imports Census basis ' (general imports)

Adjustments:

Electric energyGold imports nonmonetaryInland freight in CanadaU S -Canadian reconciliation adjustment n e e net 2

Merchandise imports of U.S. military agencies identified in Censusdocuments 3.

Other adjustments net 5 .. . .

Equals: Merchandise imports, adjusted to balance of payments basis,excluding "military" (table 1, line 17).

Merchandise trade, by area and country, adjusted to balance ofpayments basis, excluding military: 6

EXPORTS

Total, all countries (A-8)

Western Europe . . . ...European Communities .

Belgium and LuxembourgFrance . .. ...Germany Federal Republic of . .ItalyNetherlandsUnited KingdomOther

Western Europe excluding EC

Canada 2

JapanAustralia New Zealand and South Africa 6

Australia

Eastern Europe ..

Latin America and Other Western HemisphereBrazilMexicoVenezuelaOther

Other countries in Asia and Africa 6

Asia 6

Members of OPECChina .Hong KongKorea Republic of .Singapore . .Taiwan

Africa 6

Members of OPEC

International organizations and unallocated ,

Memoranda:

Industrial countries 7 .. .Members of OPEC 7

Other countries 7

1988

322,471

245

592

1,845

-5,221

-681

319,251

441,351

8443,5762,254

-1,686

127

446,466

319,251

86,41474,5107,3539,996

14,0366,6689,961

18,0428,454

11,904

73,54037,148

6,804

3,796

43,6244,240

20,5734,525

14,286

67,92560,3947,3695,0285,663

10,6665,756

11,8597,1951,177

206,53113,74598,975


1988

I

77,713

58

14

453

-1,076

-151

77,011

105,527

2461,573

665

-409

-138

107,464

77,011

21,55218,6361,8372,6133,5831,6162,5334,4242,0302,916

19,0948,740

1,335

1,190

9,601951

4,325997

3,328

15,49913,8981,8121,0531,2002,3871,2503,2451,536

287

51,3033,251

22,457

II

81,091

54

296

473

-1,305

-148

80,461

109,693

1931,460

554

-387

-40

111,473

80,461

22,11019,0151,7942,4323,6681,7662,3964,6792,2803,095

18,8079,226

1,529

1,036

10,6301,1894,9751,0443,422

17,12315,0561,7041,2631,3522,5721,3983,4321,980

306

52,2873,208

24,966

III

78,438

58

126

458

-1,472

-61

77,547

109,665

238224501

-445

69

110,252

77,547

19,92717,2021,7642,3703,1381,4962,2824,2021,9502,725

16,9249,590

1,736

552

11,3181,0435,3741,2303,671

17,50015,5531,8301,3191,6312,8781,5252,6881,873

262

48,9203,510

25,117

IV

85,229

75

156

461

-1,368

-321

84,232

116,466

167319534

-445

236

117,277

84,232

22,82519,6571,9582,5813,6471,7902,7504,7372,1943,168

18,7159,592

2,204

1,018

12,0751,0575,8991,2543,865

17,80315,8872,0231,3931,4802,8291,5832,4941,806

322

54,0213,776

26,435

1989

I'

88,529

58

133

442

-1,036

-149

87,977

112,884

443532

-374

-135

113,350

87,977

24,50121,273

2,0282,8954,0471,8172,7775,0842,6253,228

20,25310,267

1,796

1,702

11,8651,0416,0301,0223,772

17,59315,8391,9801,4781,4773,0281,7732,3991,650

250

57,4373,438

27,102

II"

93,890

54

71

555

-1,058

-290

93,222

119,353

579558

-366

-152

119,972

93,222

25,05021,4852,2952,9174,2361,8432,8225,0162,3563,565

22,26711,059

1,941

1,814

12,0331,0856,198

6664,084

19,05817,1931,9591,2511,7753,4161,7322,9011,753

318

60,9953,089

29,138

Seasonally adjusted

1988 <

I

77,145

58

14

457

-1,076

-151

76,447

107,957

2461,573

665

-409

-139

109,893

76,447

21,43918,5291,8332,6073,5631,6052,4984,4222,0012,910

19,0918,609

1,333

1,132

9,536952

4,302986

3,296

15,30713,7501,7841,0481,1922,3391,2503,2251,492

276

51,0523,198

22,197

II

79,127

54

296

447

-1,305

-148

78,471

108,101

1931,460

554

-387

-39

109,882

78,471

21,54118,5311,7402,3613,5711,7262,3594,5372,2373,010

18,2309,061

1,477

1,081

10,3421,1504,8361,0183,338

16,73914,6941,6711,2331,3142,5231,3523,3531,960

310

50,9033,150

24,418

III

81,478

58

126

475

-1,472

-61

80,604

110,356

238224501

-445

69

110,943

80,604

20,67317,8551,8232,4483,2581,5512,3874,3452,0432,818

17,47910,027

1,788

601

11,7631,0765,5851,2813,821

18,27316,2141,9181,3741,6853,0111,5702,8071,978

281

50,7343,675

26,195

IV

84,721

75

156

466

-1,368

-321

83,729

114,937

167' 319

534

-445

236

115,748

83,729

22,76119,5951,9572,5803,6441,7862,7174,7382,1733,166

18,7409,451

2,206

982

11,9831,0625,8501,2403,831

17,60615,7361,9961,3731,4722,7931,5842,4741,765

310

53,8423,722

26,165

1989

I'

88,473

58

133

441

-1,036

-150

87,919

115,832

443532

-374

-136

116,297

87,919

24,52121,2882,0332,9044,0561,8192,7625,1042,6103,233

20,32510,220

1,805

1,644

11,8651,0466,0311,0193,769

17,53915,8021,9741,4661,4783,0151,7812,3941,633

247

57,4923,424

27,003

H P

91,563

54

71

526

-1,058

-290

90,866

117,965

579558

-366

-152

118,584

90,866

24,30120,847

2,2232,8254,1041,7902,7544,8532,2983,454

21,57910,860

1,875

1,863

11,7291,0506,040

6503,989

18,65916,8121,9211,2301,7263,3651,6762,8361,734

319

59,2713,035

28,560




Table 2.—U.S. Merchandise Trade—Continued[Millions of dollars]

Line

B

36

37383940414243444546

47484950

51

5253545556

57585960616263646566

67

686970

71

72737475767778798081

82838485

86

8788899091

9293949596979899

100101

102

103104105

Merchandise trade, by area and country, adjusted to balance ofpayments basis, excluding military 6 — Continued:

IMPORTS

Total, all countries (A- 16)

European Communities

FranceGermany Federal Reoublic ofItalyNetherlandsUnited Kin°domOther

Western Europe excluding EC .

Canada 2

JapanAustralia New Zealand and South Africa 6 . . . .

Australia

Eastern Europe . . . .

Latin America and Other Western Hemisphere .Brazil .Mexico . . .Venezuela .Other

Other countries in Asia and Africa6.Asia6

Members of OPEC .China .Hong Kong . . .Korea Republic of .Singapore .Taiwan

Africa 6

Members of OPEC

International organizations and unallocated

Memoranda:

Industrial countries 7

Members of OPEC7

Other countries 7

BALANCE (EXCESS OF EXPORTS +)

Total, all countries

Western EuropeEuropean Communities

Belgium a n d Luxembourg . . . . . .France . . .Germany Federal Republic ofItalyNetherlandsUnited KingdomOther

Western Europe, excluding EC

Canada2

JapanAustralia, New Zealand, and South Africa6

Australia .

Eastern Europe

Latin America and Other Western HemisphereBrazilMexicoVenezuelaOther

Other countries in Asia and Africa6

Asia6 ;Members of OPECChina ,.Hong Kon°.Korea, Republic of.Singapore . . . .Taiwan

Africa 6 . . .Members of OPEC

International organizations and unallocated

Memoranda:

Industrial countries 7

Members of OPEC 7

Other countries 7

1988

446,466

102,20085,6464,502

12,11826,29511,5025,951

17,6807,598

16,554

84,40089,760

3,516

2,165

51,4219,448

23,3255,163

13,485

113,004102,06511,3258,535

10,23820,1547,943

24,85610,8615,284

282,36323,000

141,103

-127,215

-15,786-11,136

2,851-2,122

-12,259-4,834

4,010362856

-4,650

-10,860-52,612

3,288

1,631

-7,797-5,208-2,752

--638801

-45,079-41,671-3,956-3,507-4,575-9,488-2,187

-12,997-3,666-4,107

-75,832-9,255

-42,128


1988

I

107,464

25,20521,242

1,1722,7846,6452,8471,8334,1781,7833,963

20,77420,853

969

514

12,7632,3505,7391,2443,430

26,38623,6062,9051,8132,2024,5051,7435,8992,7611,304

68,4825,759

33,223

-30,453

-3,653-2,606

665-171

-3,062-1,231

700246247

-1,047

-1,680-12,113

366

676

-3,162-1,399-1,414

-247-102

-10,887-9,708-1,093

-760-1,002-2,118

-493-2,654-1,225--1,017

-17,179-2,508

-10,766

II

111,473

26,10921,686

1,1983,2396,4912,7821,6154,5891,7724,423

22,45521,501

899

626

12,7612,2905,8781,3773,216

27,12224,2702,6511,8922,2974,7931,9266,1442,8351,538

71,6735,853

33,947

-31,012

-3,999-2,671

596-807

-2,823-1,016

78190

508-1,328

-3,648-12,275

630

410

-2,131-1,101

-903-333

206

-9,999-9,214

-947-629-945

-2,221-528

-2,712-855

-1,232

-19,386-2,645-8,981

ni

110,252

23,90820,161

9913,0116,0992,8231,1884,1541,8953,747

19,63122,242

792

477

12,9322,5325,6701,3253,405

30,27027,5762,9612.3752,8905,5282,0786,6742,6551,253

67,0635,844

37,345

-32,705

-3,981-2,959

773-641

-2,961-1,327

1,0944855

-1,022

-2,707-12,652

944

75

-1,614-1,489

-296-95266

-12,770-12,023-1,131-1,056-1,259-2,650

-553-3,986

-782-991

-18,143-2,334

-12,228

IV

117,277

26,97822,557

1,1413,0847,0603,0501,3154,7592,1484,421

21,54025,164

856

548

12,9652,2766,0381,2173,434

29,22626,6132,8082,4552,8495,3282,1966,1392,6101,189

75,1455,544

36,588

-33,045

-4,153-2,900

817-503

-3,413-1,260

1,435-22

46-1,253

-2,825-15,572

1,348

470

-890-1,219

-13937

431

-11,423-10,726

-785-1,062-1,369-2,499

-613-3,645

-804-867

-21,124-1,768

-10,153

1989

I'

113 50

25,05420,771

... 1,1223,1176,1642,7151,2224,2332,1984,283

22,63622,828

863

560

13,4602,0786,3541,4633,565

27,94924,8173,1132,2602,1104,7101,9265,3603,0891,513

72,1266,457

34,767

-25,373

-553502906

-222-2,117

-8981,555

851427

-1,055

-2,383-12,561

933

1,142

-1,595-1,037

-324-441

207

-10,356-8,978-1,133

-782-633

-1,682-153

-2,961-1,439-1,263

-14,689-3,019-7,665

II'

119,972

25,69021,435

1,1913,4156,0962,9461,0764,3522,3594,255

23,38723,366

957

487

14,9502,1747,1331,7313,912

31,13527,3263,8122,6752,1904,9362,1466,0813,7732,013

74,1738,032

37,767

-26,750

-64050

1,104-498

-1,860-1,103

1,746664-3

-690

-1,120-12,307

984

1,327

-2,917-1,089

-935-1,065

172

-12,077-10,133-1,853-1,424

-415-1,520

-414-3,180-2,020-1,695

-13,178-4,943-8,629

Seasonally adjusted

1988

I

109,893

25,78221,732

1,2002,8556,8062,9141,8564,2761,8254,050

21,24021,362

990

524

13,0302,4015,8661,2613,502

26,96524,1422,9461,8562,2564,6151,7866,0392,8041,320

70,0715,837

33,985

-33,446

-4,343-3,203

633-248

-3,243-1,309

642146176

-1,140

-2,149-12,753

343

608

-3,494-1,449-1,564

-275-206

-11,658-10,392-1,162

-808-1,064-2,276

-536-2,814-1,312-1,044

-19,019-2,639

-11,788

II

109,882

25,72321,358

1,1803,1866,3832,7371,6004,5261,7464,365

22,13421,156

886

620

12,6032,2555,7981,3773,173

26,76023,9202,6471,8642,2594,7151,8956,0432,8241,540

70,5955,848

33,439

-31,411

-4,182-2,827

560-825

-2,812-1,011

75911

491-1,355

-3,904-12,095

591

461

-2,261-1,105

-962-359

165

-10,021-9,226

-976-631-945

-2,192-543

-2,690-864

-1,230

-19,692-2,698-9,021

III

110,943

24,06520,292

9973,0326,1382,8411,1964,1821,9063,773

19,75622,394

796

480

13,0032,5475,7041,3283,424

30,44927,7442,9702,3922,9105,5642,0936,7162,6651,256

67,5055,863

37,575

-30,339

-3,392-2,437

826-584

-2,880-1,290

1,191163137

-955

-2,277-12,367

992

121

-1,240-1,471

-119-47397

-12,176-11,530-1,052-1,018-1,225-2,553

-523-3,909

-687-975

-16,771-2,188

-11,380

IV

115,748

26,63022,264

1,1253,0456,9683,0101,2994,6962,1214,366

21,27024,848

844

541

12,7852,2455,9571,1973,386

28,83026,2592,7622,4232,8135,2602,1696,0582,5681,168

74,1925,452

36,104

-32,019

-3,869-2,669

832-465

-3,324-1,224

1,4184252

-1,200

-2,530-15,397

1,362

441

-802-1,183

-10743

445

-11,224-10,523

-766-1,050-1,341-2,467

-585-3,584

-803-858

-20,350-1,730-9,939

1989

lr

116,297

25,71921,322

1,1523,2036,3332,7891,2524,3472,2464,397

23,22923,454

887

574

13,7862,1326,5161,4853,653

28,64825,4593,1642,3212,1684,8401,9795,5073,1451,535

74,0546,560

35,683

-28,378

-1,198-34881

-299-2,277

-9701,510

757364

-1,164

-2,904-13,234

918

1,070

-1,921-1,086

-485-466

116

-11,109-9,657-1,190

-855-690

-1,825198

-3,113-1,512-1,288

-16,562-3,136-8,680

H P

118,584

25,37021,164

1,1763,3706,0142,9071,0634,2982,3364,206

23,10123,055

945

482

14,8102,1487,0571,7313,874

30,82127,020

3,8102,6422,1614,8702,1185,9993,7662,016

73,2338,031

37,320

-27,718

-1,069-3171,047-545

-1,910-1,117

1,691555-38

-752

-1,522-12,195

930

1,381

-3,081-1,098-1,017-1,081

115

-12,162-10,208-1.889-1,412

-435-1,505

-442-3,163-2,032-1,697

-13,962-4,996-8,760




Table 2.—U.S. Merchandise Trade—Continued


Line

C

1

23

4

56739

101112

1314

15

1617181920

2122232425

2627282930

3132333435363738

39

4041424344454647

4849505152

535455

56

5758596061

6263646566

67

6869707172

73

74

75

Merchandise trade, by principal end-use category, adjusted to balanceof payments basis, excluding military: 2

Merchandise exports, balance of payments basis, excluding military (A-8).

Nonaericultural products

Foods feeds and bevera es

AgriculturalGrains and preparations

WheatCorn

SoybeansMeat products and poultry

Other agricultural foods feeds and beverages

Nonagricultural (fish distilled beverages etc )Fish and shellfish

Industrial supplies and materials

Raw cottonTobacco unmanufacturedHides and skins, including furskins

Nonagricultural .. . ,Energy products

Fuels and lubricants 8

Coal and related fuelsPetroleum and products

Paper and paper base stocksTextile supplies and related materialsChemicals excluding medicinalsBuilding materials except metals . .Other nonmetals

Metals and nonmetallic products. .Steelmaking materials . .Iron and steel productsNonferrous metals . .

Nonmonetary goldOther precious metalsOther nonferrous metals

Other metals and nonmetallic products

Capital goods except automotive

Machinery except consumer-type ,Electric generating machinery, electric apparatus, and partsNonelectric, including parts and attachments

Oil drilling mining and construction machineryIndustrial engines, pumps, and compressors

Measuring testing and control instrumentsOther industrial, agricultural, and service industry machinery

Computers peripherals and partsSemiconductors ,Telecommunications eouipmentOther office and business machinesScientific, hospital, and medical equipment and parts

Civilian aircraft, engines, partsCivilian aircraft complete all types

Other transportation equipment

Automotive vehicles, parts, and engines

To CanadaPassenger cars new and usedTrucks, buses and special purpose vehicles ,Engines and engine parts , ..,Other parts and accessories

To other areas ,Passenger cars new and used . .Trucks buses and special purpose vehiclesEngines and engine partsOther parts and accessories

Consumer goods (nonfood), except automotive

Consumer nondurables manufacturedMedical, dental, and pharmaceutical preparations, including vitamins...

Consumer durables manufacturedHousehold and kitchen appliances and other household goods

Unmanufactured consumer ôods (gem stones nursery stock)

Exports, n.e.c., and reexports.....

Other domestic exports and balance of payments adjustments notincluded above (minimum value shipments and miscellaneousexports).

Foreign (reexports) . .

1988

319,251

38,142281,109

32,944

30,13915,4305,1085,1364,8502,6393,9213,299

2,8052,400

88,824

7,3191,9871,2541,8382,240

81,5059,5199,4684,2004,377

7,6644,574

25,9816,0966,641

21,0301,7332,265

12,2975,872

5575,8684,735

112,352

89,89510,85779,0386,3933,9672,5735,397

18,565

22,3747,0785,9761,5915,124

20,64210,2821,815

32,514

22,5727,4373,1872,0699,879

9,9422,4291,0661,2215,226

24,180

13,1064,1799,9624,0141,112

28,437

16,500

11,937


1988

I

77,011

9,74367,268

7,782

7,2933,5821,188

9781,580

464906761

489398

21,924

2,255765397538555

19,6692,0011,990

6981,100

1,8431,0986,3161,3961,654

5,361290440

3,5062,235

1531,1181,125

26,838

21,6562,648

19,0081,5411,044

5691,2824,447

5,5101,5781,408

3741,255

4,7342,378

448

8,551

6,3842,034

912576

2,862

2,167516229248

1,174

5,494

3,005983

2,234936255

6,422

3,811

2,611

II

80,461

8,92871,533

7,608

7,0223,7141,3091,184

919601950838

586471

22,944

1,716536297456427

21,2282,4872,4801,1101,138

1,8891,1236,5251,6471,712

5,845526506

3,6301,979

1411,5101,183

28,107

21,9892,703

19,2861,541

893630

1,3164,620

5,4381,7561,472

3981,222

5,6923,122

426

8,455

5,9551,987

845549

2,574

2,500612111299

1,312

6,025

3,2531,0342,494

978278

7,322

4,292

3,030

III

77,547

8,87668,671

8,485

7,2793,8401,3391,370

885766919869

1,2061,106

21,705

1,465276214422553

20,2402,5312,5131,201

978

1,9441,1336,7041,5161,634

4,778453540

2,627916127

1,5841,158

27,174

22,0982,688

19,4101,597

956621

1,3444,556

5,3281.8561,485

4131,254

4,6482,088

428

7,009

4,6911,557

710444

1,980

2,318471249316

1,282

6,116

3,3531,0652,478

982285

7,058

4,092

2,966

IV

84,232

10,59573,637

9,069

8,5454,2941,2721,6041,466

8081,146

831

524425

22,251

1,883410346422705

20,3682,5002,4851,1911,161

1,9881,2206,4361,5371,641

5,046464779

2,534742136

1,6561,269

30,233

24,1522,818

21,3341,7141,074

7531,4554,942

6,0981,8881,611

4061,393

5,5682,694

513

8,499

5,5421,859

720500

2,463

2,957830311358

1,458

6,545

3,4951,0972,7561,118

294

7,635

4,305

3,330

1989

I-

87,977

11,25276,725

9,631

8,9714,9571,7581,7181,560

729947778

660562

23,467

2,093570460432631

21,3742,7302,7091,0481,239

2,0761,3076.7191,6561,838

5,048484954

2,415579232

1,6041,195

30,800

24,3922,755

21,6372,0251,363

6911,1854,970

5,3872,2201,671

5471,578

5,8602,810

548

9,149

6,3042,227

859600

2,618

2,845878275447

1,245

7,428

3,6501,0593,4631,436

315

7,5Q2

3,987

3,515

II*

93,222

10,19883,024

8,891

8,2834,7421,3961,947

795801

1,068877

608479

25,855

1,718467276468507

24,1373,3973,3641,3921,363

2,1451,4157,6951,9581,959

5,568637977

2,647712284

1,6511,307

33,060

25,8212,900

22,9212,0771,380

7521,2365,496

5,5952,3571,908

5291,591

6,8223,461

417

9,204

6,2892,121

753630

2,785

2,915840262413

1,400

8,363

3,9601,1014,0231,611

380

7,849

4,327

3,522

Seasonally adjusted

1988

I

76,447

9,02167,426

7,545

6,8853,4441,269

9271,197

502964778

660564

21,866

1,964630361448525

19,9022,1972,186

9041,091

1,8411,0906,2671,3951,634

5,478381437

3,5252,235

1531,1371,135

26,882

21,6792,619

19.0601,5491,060

5691,2914,442

5,4801,6381,424

3851,222

4,7552,398

448

8,190

6,0311,899

912529

2,691

2,159472250252

1,185

5,517

3,018940

2,240930259

6,447

3,802

2,645

II

78,471

9,40569,066

8,053

7,3473,7581,3441,0661,182

614969824

706596

22,406

1,870571334440525

20,5362,4072,4011,0101,151

1,8341,0816,2951,6031,626

5,690459492

3,6041,979

1411,4841,135

27,319

21,4502,595

18,8551,498

905603

1,3084,447

5,4051,6501,431

3941,214

5,4432,864

426

7,770

5,4081,664

750504

2,490

2,362570261287

1,244

5,791

3,1821,0042,344

955265

7,132

4,187

2,945

III

80,604

9,92770,677

8,708

7,9543,9981,0701,6681,368

770982836

754658

22,206

1,820402349486583

20,3862,5582,5401,1281,082

1,9431,1696,6551,5681,663

4,830453557

2,637916127

1,5941,183

28,216

22,8162,771

20,0451,640

987656

1,3604,716

5,6031,8401,529

4121,302

4,9722,354

428

7,981

5,4301,921

761528

2,220

2,551642271332

1,306

6,226

3,3371,0822,593

999296

7,267

4,222

3,045

IV

83,729

9,78973,940

8,638

7,9534,2301,4251,4751,103

7531,006

861

685582

22,346

1,665384210464607

20,6812,3572,3411,1581,053

2,0461,2346,7641,5301,718

5,032440779

2,531742136

1,6531,282

29,935

23,9502,872

21,0781,7061,015

7451,4384,960

5,8861,9501,592

4001,386

5,4722,666

513

8,573

5,7031,953

764508

2,478

2,870745284350

1,491

6,646

3,5691,1532,7851,130

292

7,591

4,289

3,302

1989

I-

87,919

10,76377,156

9,592

8,7084,9191,9131,6571,199

7821,005

803

884781

23,666

1,889460466365598

21,7773,0393,0171,3711,225

2,0671,2966,6851,6581,817

5,215622941

2,446579232

1,6351,206

30,778

24,3942,728

21,6662,0281,377

6901,1944,968

5,3092,3091,691

5631,537

5,8362,782

548

8,849

6,0062,107

860570

2,469

2,843817303459

1,264 .

7,461

3,6731,0113,4701,419

318

7,573

4,010

3,563

II'

90,866

10,73280,134

9,404

8,6684,8731,4511,8471,040

8111,087

857

736609

25,165

1,879477316455631

23.2863^823,2501,2641,366

2,0881,3647,4111,9071,861

5,373549953

2,613712284

1,6171,258

32,137

25,2322,791

22,4412,0141,401

7211,2285,313

5,5732,2211,858

5271,585

6,4883,115

417

8,558

5,8041,825

678597

2,704

2,754778249398

1,329

8,012

3,8701,0723,7711,578

371

7,590

4,184

3,406




Table 2.—U.S. Merchandise Trade—Continued[Millions of dollars]

Line

C

76

7778

79

80818283848586878889

90

91929394

9596979899

100101102103104105106107108

109

110111112113114115116117

118119120121122

123124125

126

127128129130131

132133134135136

137138139140141142143144145146

147148149

Merchandise trade, by principal end-use category, adjusted to balanceof payments basis, excluding military 2 — Continued:

Merchandise imports, balance of payments basis, excluding military (A-16).

Petroleum and products . ..Nonpetroleum products .

Foods feeds and beverages . . . ...

Coffee cocoa and sugar .Green coffee

Meat products and poultryVegetables, fruits, nuts, and preparationsWine and related productsOther agricultural foods, feeds, and beverages

Nonagricultural (fish distilled beverages etc)Fish and shellfishWhiskey and other alcoholic beverages

Industrial supplies and materials

Nonagricultural productsEnergy products

Fuels and lubricants 8

Paper and paper base stocksTextile supplies and related materials . . . . .. .Chemicals excluding medicinalsBuilding materials except metals .Other nonmetals

Metals and nonmetallic productsSteelmaking materials

Nonferrous metalsNonmonetary goldOther precious metals .Bauxite and aluminum .. ..Other nonferrous metals

Other metals and nonmetallic products

Capital goods, except automotive

Machinery except consumer-typeElectric generating machinery, electric apparatus and partsNonelectric, including parts and attachments

Oil drilling mining and construction machineryIndustrial engines pumps and compressorsMachine tools and metalworking machineryMeasuring testing and control instrumentsOther industrial, agricultural, and service industry machinery

Computers, peripherals, and partsSemiconductorsTelecommunications equipmentOther office and business machinesScientific, hospital, and medical equipment and parts

Civilian aircraft engines partsCivilian aircraft complete all types

Automotive vehicles, parts, and engines

From CanadaPassenger cars, new and used ,Trucks buses and special purpose vehiclesEngines and engine partsOther parts and accessories

From other areasPassenger cars new and usedTrucks, buses and special purpose vehiclesEngines and engine parts . . .Other parts and accessories

Consumer goods (nonfood), except automotiveConsumer nondurables, manufactured

Textile apparel and household goods except rugsFootwear of leather rubber and other materials

Consumer durables manufacturedHousehold and kitchen appliances and other household goodsToys, shooting, and sporting goods, including bicyclesTelevision and video receiversRadio and stereo equipment, including records, tapes, and disks

Unmanufactured consumer goods (gemstones, nursery stock)

Imports, n.e.c., and U.S. goods returnedU S. goods returnedOther products, including balance of payments adjustments not

included above (minimum value shipments and miscellaneousimports).

1988

446,466

39,309407,157

24,909

17,4513,1372,2833,4754,6331,9054,3017,4585,4221,501

122,350

3,400118,95043,39442,550

10,2115,497

12,3697,4005,032

35,0471,920

12,57915,4724,8602,0263,6694,9175,076

101,757

93,44111,52981,9124,2293,9623,6722,939

20,889

18,33110,9619,3964,1303,403

8,3167,5442,691

87,941

29,20013,2566,0821,9777,885

58,74133,7944,2664,557

16,124

96,37943,09220,7645,902

47,74417,2157,9825,8225,6305,543

13,1307,8765,254


1988

I

107,464

9,95497,510

6,517

4,746877635

1,0591,410

414986

1,7711,326

341

30,873

86530,00811,13010,885

2,4581,3693,0881,7521,187

9,024398

3,0764,3041,870

452858

1,1241,246

23,532

21,7982,544

19,2541,096

916934701

5,059

4,2992,3312,1391,012

767

1,7341,580

369

21,313

7,1813,4231,404

5021,852

14,1328,0181,1461,0803,888

22,14510,2355,1021,456

10,5564,0891,6431,2941,1031,354

3,0841,7281,356

II

111,473

10,225101,248

5,920

4,102654483868

1,078502

1,0001,8181,372

313

31,661

80230,85911,15010,956

2,5671,4023,1701,9881,255

9,327478

3,1854,3811,764

537913

1,1671,283

25,510

23,1252,831

20,2941,1481,001

855735

5,346

4,4432,7162,269

938843

2,3852,084

940

22,634

8,1543,9161,633

5192,086

14,4808,1541,0431,2104,073

22,63410,1884,7741,438

11,1024,2171,8471,2271,3111,344

3,1141,9141,200

m

110,252

9,748100,504

6,049

4,246851658790987489

1,1291,8031,300

355

29,651

79728,85410,72910,492

2,6641,3572,9521,9121,235

8,005523

3,1343,109

559473936

1,1411,239

25,547

23,4772,994

20,4831,0331,010

882721

5,020

4,6052,9342,3981,009

871

2,0701,907

728

19,626

6,1312,6381,361

3841,748

13,4957,622

9271,0403,906

26,18012,1185,9361,635

12,6424,3892,2341,5731,5541,420

3,1991,9711,228

IV

117,277

9,382107,895

6,423

4,357755507758

1,158500

1,1862,0661,424

492

30,165

93629,22910,38510,217

2,5221,3693,1591,7481,355

8,691521

3,1843,678

667564962

1,4851,308

27,168

25,0413,160

21,881952

1,0351,001

7825,464

4,9842,9802,5901,171

922

2,1271,973

654

24,368

7,7343,2791,684

5722,199

16,63410,0001,1501,2274,257

25,42010,5514,9521,373

13,4444,5202,2581,7281,6621,425

3,7332,2631,470

1989

I"

113,350

- 10,705102,645

i- - 6,325

4,574909602873

1,432357

1,0031,7511,320

334

32,006

1,16430,84211,68711,549

2,4591,3323,5091,8341,396

8,625458

2,9503,984

804597

1,0561,5271,233

26,513

24,1822,724

21,4581,0711,0921,038

6385,592

4,6992,9212,4981,022

887

2,3312,019

628

22,451

7,7583,4041,744

5692,041

14,6938,3431,0261,4573,867

23,00110,3735,0831,347

11,0714,0041,7111,4971,5081,557

3,0541,9991,055

II"

119,972

13,401106,571

6,240

4,450784555803

1,325458

1,0801,7901,343

345

34,923

1,00933,91414,28014,125

2,3731,3673,3262,0161,550

9,002564

3,0744,102

937570

1,0641,5311,262

28,504

25,6212,908

22,7131,1661,1301,042

6815,916

5,0243,1672,5801,019

988

2,8832,513

823

22,430

7,9683,4451,831

5582,134

14,4628,066

8741,4854,037

24,57211,0275,2611,426

12,1234,4811,9531,7051,7141,422

3,3032,2051,098

Seasonally adjusted

1988

I

109,893

10,06899,825

6,503

4,610877635

1,0591,129

5021,0431,8931,394

378

30,979

78130,19811,13810,892

2,4741,3912,9441,8961,202

9,153506

3,0794,3321,870

452862

1,1481,236

24,054

22,3502,631

19,7191,154

914934719

5,085

4,4182,4002,2811,014

800

1,7041,552

369

21,618

7,0463,3491,364

4901,843

14,5728,6431,1461,0043,779

23,55010,5795,0891,480

11,6324,2691,9341,4411,2881,339

3,1891,8221,367

II

109,882

10,24899,634

5,939

4,072654483868

1,032484

1,0341;8671,363

364

31,057

80230,25511,21211,019

2,5781,3463,0511,8121,200

9,056433

3,0874,3051,764

537840

1,1641,231

25,254

22,8262,775

20,0511,067

942855714

5,139

4,5442,6522,293

995850

2,4282,136

940

21,319

7,4583,5421,458

4871,971

13,8617,7181,0431,1743,926

23,26110,4784,9831,475

11,4244,2431,8931,2721,3811,359

3,0521,8791,173

m

110,943

9,775101,168

6,198

4,430851658790

1,190470

1,1291,7681,268

365

29,936

87629,06010,85710,619

2,6511,3543,0791,8091,260

8,050480

3,1623,136

559473935

1,1691,272

25,670

23,5873,008

20,5791,0061,018

882748

5,117

4,7042,8722,3411,010

881

2,0831,916

728

21,754

7,3243,3661,596

4511,911

14,4308,306

9271,1044,093

24,12410,7655,1521,488

11,9464,2121,9431,4841,4261,413

3,2612,0291,232

IV

115,748

9,218106,530

6,269

4,339755507758

1,282449

1,0951,9301,397

394

30,378

94129,43710,18710,020

2,5081,4063,2951,8831,370

8,788501

3,2513,699

667564

1,0321,4361,337

26,779

24,6783,115

21,5631,0021,0881,001

7585,548

4,6653,0372,4811,111

872

2,1011,940

654

23,250

7,3722,9991,664

5492,160

15,8789,1271,1501,2754,326

25,44411,2705,5401,459

12,7424,4912,2121,6251,5351,432

3,6282,1461,482

1989

I r

116,297

10,850105,447

6,287

4,417909602873

1,148431

1,0561,8701,388

368

32,243

1,06331,18011,74511,607

2,4761,3513,3831,9921,423

8,810588

2,9484,055

804597

1,0781,5761,219

27,177

24,8792,831

22,0481,1171,0891,038

6535,652

4,8293,0642,6581,022

927

2,2981,990

628

22,825

7,6423,3301,712

5572,043

15,1839,0251,0261,3633,769

24,59410,8035,1651,373

12,2454,1982,0211,6641,7521,546

3,1712,1031,068

II '

118,584

13,4274105,157

6,2747

4,4347784755578037

1,28474437

1,12071,84071,3337

4007

34,351

1,022133,329

14,343914,1899

2,37891,31593,20691,84391,4809

8,76495159

2,99194,0439

937957099909

1,54691,2159

28,296

25,32862,8476

22,48161,08961,06861,0426

66365,6996

5,14363,08462,61261,0856

9966

2,96862,6196

8236

21,1596

7,29363,11961,6386

52162,0156

13,86667,6336

87461,45563,9046

25,261611,35465,49761,4586

12,46764,49962,00561,76861,79561,4406

3,24362,16861,0756




Table 3.—Selected Service Transactions


Line

1

234567

89

101112

1314151617181920212223

24

252627282930

3132333435

3637383940414243444546

Exports of selected services

Travel (table 1 line 5)Passenger fares (table 1, line 6)Other transportation (table 1, line 7)

Freight ,Port services 1.1,...Other

Affiliated netU S parents' receipts •U S parents' payments .

Unaffiliated

Other private services (table 1 line 9) »Affiliated services net . .

U S parents' receipts . . . .U S parents' payments

Unaffiliated services . . . . . .Education . ,Financial services . . .Insurance ' . . .TelecommunicationsBusiness professional, and technical servicesOther Unaffiliated services 2

Imports of selected services. . .

Travel (table 1 line 20) . . . .. ..Passenger fares (table 1, line 21) .Other transportation (table 1 line 22). .. .

Freight . . . . . .Port services .Other

Royalties and license fees (table 1 line 23)Affiliated net

U S affiliates' receipts .U S affiliates' payments

Unaffiliated

Other private services (table 1 line 24)Affiliated services, net ....

U.S. affiliates' receiptsU.S. affiliates' payments

Unaffiliated servicesEducationFinancial servicesInsurance ' ,TelecommunicationsBusiness, professional, and technical servicesOther unaffiliated services 2 ,

1988

92,058

29,2028,860

18,930, 5,345! ' '42,830

755

s 10,7358,3198,431

1122,416

24,3312,8586,1683,310

21,4714,1113,8351,5642,3574,7874,817

73,073

32,1127,872

19,64111,8417,059

741

2,048968238

1,2051,080

11,400-6943,0282,334

12,094555

1,6562,7814,2641,6461,192


1988

I

21,087

5,7511,7714,6051,3703,054

181

2,3771,7971,831

34580

6,583651

1,453801

5,9311,628

972440564

1,1351,192

16,158

6,1811,7024,8833,0421,671

170

47424741

289227

2,91818

628646

2,899133342727

1,002389306

II

22,042

7,0312,1804,7691,3723,209

188

2,5481,9541,980

26594

5,514726

1,523797

4,788540934388579

1,1531,194

18,984

8,6792,0625,0053,0221,799

184

539236

56292303

2,699-255

761506

2,953130387688

1,042402304

III

25,340

9,1182,8584,8001,2893,319

192

2,5561,9451,964

19611

6,008699

1,491792

5,3101,010

937365597

1,2051,196

21,167

10,5982,3474,9232,8951,837

191

55024263

305308

2,749-245

765521

2,994131435677

1,086413252

IV

23,591

7,3022,0514,7571,3153,248

194

3,2542,6232,656

33631

6,227782

1,702919

5,445934992370618

1,2951,236

16,764

6,6541,7614,8302,8821,753

195

48524278

320243

3,034-213

874661

3,247160492689

1,133442331

1989

I'

24,274

7,0322,1304,9811,4513,348

182

2,7052,0512,075

24655

7,426807

1,598791

6,6191,7871,162

405640

1,3451,280

16,886

6,4991,8554,9362,8491,894

193

45027075

346180

3,146-169

775605

3,315147489735

1,186426332

11"

25,484

8,3472,4655,2771,5523,536

189

2,8792,2072,239

33672

6,516875

1,700825

5,642588

1,298431658

1,3961,271

20,272

9,2142,2885,1152,8582,051

206

425256

80335169

3,230-165

744579

3,395144483765

1,218461324

Seasonally adjusted

1988

I

21,799

6,5182,1154,6751,3703,124

181

2,5171,9381,984

46580

5,974677

1,491814

5,297994972440564

1,1351,192

18,538

8,0922,0375,0333,0421,816

175

47424741

289227

2,90218

628646

2,884135342727

1,002389289

II

22,405

6,9682,0854,7691,3723,209

188

2,6102,0162,043

27594

5,973722

1,542820

5,2511,003

934388579

1,1531,194

17,798

7,6431,9034,9953,0221,788

185

539236

56292303

2,718-255

761506

2,972136387688

1,042402317

III

23,432

7,6262,3214,7101,2893,229

192

2,6972,0862,103

17611

6,078717

1,501784

5,3621,062

937365597

1,2051,196

18,142

8,0841,9024,8262,8951,741

190

550242

63305308

2,780-245

765521

3,026140435677

1,086413275

IV

24,422

8,0902,3394,7761,315

• 3,267194

2,9112.2792,300

21631

6,306743

1,634891

5,5641,053

992370618

1,2951,236

18,596

8,2932,0314,7872,8821,714

191

48524278

320243

3,000-213

874661

3,212144492689

1,133442312

1989

I"

25,113

7,9052,5355,0521,4513,419

182

2,8552,2002,233

33655

6,766837

1,639802

5,9291,0971,162

405640

1,3451,280

19,368

8,4482,2325,1092,8492,060

200

45027175

346180

3,129-169

775605

3,297147489735

1,186426314

II'

25,878

8,2772,3615,2771,5523,536

189

2,9402,2682,305

37672

7,023868

1,717849

6,1551,1011,298

431658

1,3961,271

19,079

8,1752,1245,1042,8582,041

205

425256

80335169

3,251-165

744579

3,415151483765

1,218461337




Table 4.—Selected U.S. Government Transactions


Line

Al

234

56789

1011

1213141516

17181920212223

242526272829303132

33343536373839404142

43

44

45

Bl

234567

8

Cl

23

456789

10

11

12131415

U S Government grants (excluding military) and transactions increasing Government assets, total

By category

Grants, net (table 1, line 32, with sign reversed)Financing military purchases 'Other grants ., ,

Credits and other long-term assets (table 1, line 42, with sign reversed)Capital subscriptions and contributions to international financial institutions, excluding IMFCredits repayable in U S. dollarsCredits repayable in other than U S dollarsOther long-term assets

Foreign currency holdings and short-term assets net (table 1 line 44 with sign reversed)Foreign currency holdincrs (excluding administrative cash holdings), net

Receipts from:Sales of agricultural commodities ,InterestRepayments of principal . . . . .Reverse grants . . . ....Other sources

Less currencies disbursed for:Grants and credits in the recipient's currency

Other U.S. Government expendituresAssets acquired in performance of U S. Government guarantee and insurance obligations, netOther assets held under Commodity Credit Corporation Charter Act, netAssets financing military sales contracts, net2

Other short-term assets (including changes in administrative cash holdings), net

By program

Capital subscriptions and contributions to international financial institutions, excluding IMFUnder A^cultural Trade Development and Assistance Act and related programsUnder Foreign Assistance Act and related programs

Under Commodity Credit Corporation Charter Act

Other foreign currency assets acouired (lines A13 A14 and A16)Less foreign currencies used by U S Government other than for grants or credits (line A 19)Other (including changes in administrative cash holdings) net

By disposition 3

Estimated transactions involving no direct dollar outflow from the United StatesExpenditures on U S merchandise . . . . . .Expenditures on U S services4

Financing of military sales contracts by U S. Government5 (line C6)By long-term creditsBy short-term credits *By grants ' , ,

U S Government long- and short-term credits to repay prior U.S. private credits 6 and other assetsIncrease in liabilities associated with U.S. Government grants and transactions increasing Government assets

(including changes in retained accounts)7 (line Cll).Less receipts on short-term U.S. Government assets (a) financing military sales contracts, ! (b) financing

repayment of private credits and other assets, and (c) financing expenditures on U.S. merchandise.Less foreign currencies used by U S Government other than for grants or credits (line A19)

Repayments on U.S. Government long-term assets, total (table 1, line 43)

Under Agricultural Trade Development and Assistance Act and related programsUnder Foreign Assistance Act and related programsUnder Export-Import Bank ActUnder Commodity Credit Corporation Charter ActUnder other credit programs

Receipts on other long-term assets

U S Government liabilities other than securities, total net increase (+) (table 1, line 55)

Associated with military sales contracts 2

U.S. Government cash receipts from foreign governments (including principal repayments on credits financingmilitary sales contracts), net of refunds. l.

Less U S Government receipts from principal repaymentsLess U.S. Treasury securities issued in connection with prepayments for military purchases in the United StatesPlus financing of military sales contracts by U.S. Government 5 (line A36)

By long-term creditsBy short-term credits 'By grants ' .. ... ..

Less transfers of goods and services (including transfers financed by grants for military purchases, and bycredits)1 2 8 (table 1, line 4).

Associated with U.S. Government grants and transactions increasing Government assets (including changes inretained accounts) 7 (line A42).

Associated with other liabilities ,..Sales of nuclear material by Department of EnergySales of space launch and other services by National Aeronautics and Space AdministrationOther sales and miscellaneous operations

17,691

10,3773,1857,192

7,5791,3145,733

75457

-265-72

383868

6

4

218-179

(*)

-15

1,3141,815

12,448971224577112218448

12,9845,4224,5222,209

730

1,479610568-2

31

218

4,707

10,313

9,855451

7,7161,440

126122

456

-1,284

-1,28010,378

3,489376

2,209730

1,47910,050

-2

-2215

-27

1988

I

4,936

2,233994

1,239

2,808279

2,425-11115

-105-14

41116

1

(*)

44-171

(*)

80

279346

3,69625378

1032744

198

4,0371,3121,889

539108

431237108-1

4

44

899

1,031

911125392377

106

119

304

-3351,604

184-371

539108

4312,665

-1

32-20

350

II

3,923

1,928681

1,247

2,017298

1,6036

110

-22-46

C321

1

3

77-8(*)

32

298511

2,545311

80813477

140

3,0161,091

882726332

394265136

7

77

907

1,166

1,04990

40450152

1

116

-517

-4051,381

139-152

726332

3942,604

-32-8-1

-24

III

3,689

2,288705

1,583

1,4583259845792

-579

31109

3

(*)

43-1(*)

-65

325545

2,28629542

188224330

2,7761,328

689521179

34287

213(*)

18

43

913

3,402

3,290113

2,835293455

112

-232

-2503,849

1,417606521179

3422,645

(*)

1846-2

-27

IV

5,142

3,928807

3,122

1,29641272123

139

-81-21

36

23

1

(*)

531

(*)

-62

412413

3,92111224

204295379

3,1551,6921,062

423111

3122113

3

53

1,987

4,714

4,603122

4,085269

18110

110

-232

-2113,544

1,749293423111

3122,136

-2124

-27

1989

I'

3,335

2,340929

1,411

1,000261612

14113

-414

69

26

5

(*)

409

-20

261408

2,351130(*)88404096

2,5241,342

621525114

4115924

7

40

811

1,865

1,75057

1,331332282

115

-304

-2532,491

1,145-12525114

4102,135

51-32-36

17

UP

3,270

2,142785

1,357

1,128257745

3123

-1-25

(*)7

16

2

(*)

5010

14

257362

2,320133(*)862650

136

2,4311,273

574599189

4102617

7

50

839

810

69840

351294

103

112

396

4451,511

144-499

599189

4102,020

-49-51(*)




Table 5.—Direct Investment: Income, Capital, Royalties and License Fees, and Other Private Services[Millions of dollars]

(Credits +; debits -) 19881988 1989

U.S. direct investment abroad:

1 Income (table 1, line 12) 48,2642 Income before capital gains/losses 48,4083 Capital gains/losses (gains +; losses -)l -1444 Earnings (net of withholding taxes) 49,8605 Distributed earnings 34,690

7 Interest (net of withholding taxes) -1,5968 U.S. parents' receipts 2,0529 U.S. parents' payments -3,648

10 Capital (table 1, line 46) -17,53311 Equity capital 5,46912 Increases in equity capital2 -8,65513 Decreases in equity capital3 14,12414 Reinvested earnings -15,17015 Intercompany debt -7,83116 U.S. parents' receivables -2,35717 U.S. parents' payables -5,474

18 Royalties and license fees (table 1, line 8) 8,31919 U.S. parents' receipts 8,43120 U.S. parents' payments -112

21 Other private services (table 1, line 9) 2,85822 U.S. parents' receipts 6,16823 U.S. parents' payments -3,310

By industry of affiliate:4

24 Income (line 1) 48,26425 Petroleum 7,93226 Manufacturing 23,31927 Other 17,01328 Income before capital gains/losses (line 2) 48,40829 Petroleum 7,47630 Manufacturing 25,44731 Other 15,485

Capital:32 Equity capital (line 11) 5,46933 Petroleum 3,38134 Manufacturing 79735 Other 1,29036 Reinvested earnings (line 14, or line 6 with sign reversed) -15,17037 Petroleum -4538 Manufacturing -7,26639 Other -7,85940 Intercompany debt (line 15) -7,83141 Petroleum -1,58442 Manufacturing 1,16343 Other -7,410

Foreign direct investment in the United States:

44 Income (table 1, line 27) -16,74845 Income before capital gains/losses -15,88246 Capital gains/losses (gains-; losses +)5 -86647 Earnings (net of withholding taxes) -11,83048 Distributed earnings -5,27049 Reinvested earnings —6,56050 Interest (net of withholding taxes) -4,91851 U.S. affiliates' payments -6,24052 U.S. affiliates' receipts 1,321

53 Capital (table 1, line 59) 58,43554 Equity capital , 40,36255 Increases in equity capital2 43,64456 Decreases in equity capital3 —3,28257 Reinvested earnings 6,56058 Intercompany debt 11,51359 U.S. affiliates' payables 17,74760 U.S. affiliates' receivables -6,234

61 Royalties and license fees (table 1, line 23) -96862 U.S. affiliates' payments -1,20563 U.S. affiliates' receipts 238

64 Other private services (table 1, line 24) 69465 U.S. affiliates' payments -2,33466 U.S. affiliates' receipts 3,028

By industry of affiliate:4

67 Income (line 44) -16,74868 Petroleum . —2,92969 Manufacturing -7,17270 Other -6,64771 Income before capital gains/losses (line 45) -15,88272 Petroleum -3,00173 Manufacturing -5,96174 Other -6,920

Capital:75 Equity capital (line 54) 40,36276 Petroleum 86677 Manufacturing 17,57378 Other 21,92379 Reinvested earnings (line 57, or line 49 with sign reversed) 6,56080 Petroleum 69681 Manufacturing 4,03082 Other 1,83483 Intercompany debt (line 58) 11,51384 Petroleum -2,42685 Manufacturing 6,62986 Other 7,310

12,11511,256858

12,5618,6603,90146450-896

-6,6001,015

-2,6283,642-3,901-3,714-3,684-30

1,7971,831-34

6511,453-801

12,1152,4285,2694,41811,2561,8805,8303,547

1,0151,496282-763

-3,901-686-973

-2,242-3,714-368685

-4,031

-3,807-3,458-349

-2,710-937

-1,774-1,097-1,367

270

9,6169,60010,921-1,3221,774

-1,758-847-911

-247-289

41

-18-646628

-3,807-914

-1,460-1,433-3,458-877

-1,393-1,188

9,60021

2,0277,5521,774565815394

-1,758-1,773-627642

10,20312,690-2,48710,5427,8212,721-339540-879

-9412,195-1,5223,718

-2,72115457-873

1,9541,980-26

7261,523-797

10,2031,6304,3934,18012,6901,7406,6104,340

2,1951,080641475

-2,721-371-542

-1,808-415-427-205216

-4,512-4,364-148

-3,378-2,021-1,357-1,134-1,416

282

13,8859,3189,754-4361,3573,2104,189-978

-236-29256

255-506761

-4,512-758

-1,986-1,768-4,364-784

-1,849-1,731

9,318164

5,8363,3181,357-6031,371589

3,210-3423,252301

8,64911,233-2,5859,0414,5524,489-392508-900

-4,912-294

-1,9021,608-4,489-128-300172

1,9451,964-19

6991,491-792

8,6491,7784,2462,62511,2331,7396,1863,308

-29439231-564

-4,489-752

-1,907-1,830-128-4251,277-981

-4,373-4,114-259

-3,077-995

-2,083-1,295-1,633

337

11,8967,9388,678-7412,0831,8764,310-2,434

-242-30563

245-521765

-4,373-856

-1,815-1,702-4,114-850

-1,438-1,826

7,938_2

3,2204,7192,083630961491

1,876-14646

1,244

17,29713,2284,06917,71613,6584,05819554-972

-5,0802,552-2,6045,156-4,058-3,5741,169-4,743

2,6232,656-33

7821,702-919

17,2972,0969,4125,78913,2282,1176,8214,290

2,552766-3572,143-4,0581,764

-3,844-1,979-3,574-364-595

-2,615

-4,056-3,947-109

-2,664-1,317-1,347-1,392-1,824

431

23,03813,50714,290-7831,3478,18510,095-1,911

-242-32078

213-661874

-4,056-401

-1,911-1,743-3,947-490

-1,282-2,175

13,507683

6,4906,3341,347105883359

8,185-2973,3585,124

8,92212,435-3,5129,1655,3093,856-242567-809

-5,5923,205-2,0485,253-3,856-4,941-3,391-1,551

2,0512,075-24

8071,598-791

8,9221,1874,8152,92012,4351,6886,7693,978

3,2053,330-534410

-3,856525

-2,676-1,704-4,941-407

-2,660-1,874

-3,170-3,207

37-1,597-1,389-208

-1,574-1,946

373

19,1615,8066,064-258208

13,14712,379768

-270-34675

169-605775

-3,170-896

-1,354-920

-3,207-844

-1,380-983

5,80634

2,9322,839208581500-87313,1471,1515,6606,336

8,55012,987-4,4378,7765,3653,411-225671-896

-5,280-1,653-2,6701,017

-3,411-216-993777

2,2072,239-33

8751,700-825

8,5501,1724,1843,19512,9871,7186,9164,353

-1,653-446-867-340

-3,411-60

-2,064-1,287-216138429-783

-3,920-3,645-275

-2,235-1,061-1,174-1,685-2,096

412

12,3316,6777,011-3341,1744,4803,2291,251

-256-335

165-579744

-3,920-632

-1,727-1,560-3,645-656

-1,718-1,270

6,677229

3,5712,8761,1744627084

4,480-5571,5803,457




Table 6.—Securities Transactions


Al

2

34

567g9

10

11

12

13141516

171819202122

2324252627

282930313233

Bl

2

34557g9

10

111213

1415161718192021

12345

Foreign securities, net U S. purchases (-), (table 1, line 47 or lines 2 + 11 below)

Stocks net U.S purchases

Of which Canada

Western EuropeOf which United Kingdom

Japan .Other ,

Bonds, net U.S. purchases . .

New issues in the United States •By issuer:

Central governments and their agencies and corporationsOther tTovemments and their agencies and corporations 'Private corporationsInternational financial institutions 2

By area:Western EuropeCanada . .JapanLatin America .Other countries . ,International financial institutions 2

Redemptions of U S -held foreign bonds 3

Western EuropeCanadaOther countries ,International financial institutions 2

Western Europe

Other

U.S. securities, excluding Treasury securities and transactions of foreign official agencies, net foreignpurchases (+), (table 1, line 61 or lines 2 + 10 below).

Stocks, net foreign purchases

By area:Western Europe .

Of which GermanySwitzerland « . .United Kingdom

CanadaJapanOther . .

Corporate and other bonds, net foreign purchases

By type:New issues sold abroad by U S corporationsU S federally-sponsored agency bonds net . ,

By area:Western Europe . .

Of which Germany

United KingdomCanadaJapan . . .Other countriesInternational financial institutions 2

Memoranda:Other foreign transactions in marketable, long-term U.S. securities included elsewhere in international

transactions accounts:

Foreign official assets in the United States (lines in table 9):U S Treasury marketable bonds (line A4) .Other U S Government securities (line A6)U S corporate and other bonds (part of line A 14)U S stocks (part of line A 14)

Other foreign transactions in U S Treasury bonds and notes (table 9 line B4)

-7,846

-909

-1,079-24

170-577

198521

-217443

-6,937

-6,855

-2,295-1,496-2,573

-491

-1,483-2,537-1079

-250-1,015

-491

5,2611,7471,981

331,500

-5343-5715-5876-3,696

1,8032,265

26,448

-476

-3768191

-2,326-1 135

10071668

617

26,924

1878854102726

167731,341

45913442

70176422363-555

266251 309-103

-239221 795

I

-4,539

-716

...,....-.716..... -9

533-7-8

, , . _9oi116

-3,823

-2,115

-669-949-497

-358-1,291

-250-216

1,000

500

500

-2708-2840-2 163

-951669414

2,424

-208

-1006187

-416-639-100

999-101

2,632

2626304

-298

2251437-81

1 76184

525599

-827

20450-162-36

-7976235

19

II

1,333

1,216

-286

1,50257466045

551332

116

-1,048

-725

-224-99

-450-99

-263

-137-99

2,0481,448

300

300

-884-1265-1 084

-989415955

9,699

818

-758-4

-480-172

1501459-33

8,881

495724481 476

470758668

3702416

3017512229

6510202-7

-4105748

58

III

-1,592

-228

-181-24

-47-1,560

-961133

1,29684

-1,364

-2,051

-156-150

-1,553-192

-333-728-642

-156-192

82121

400

400

-134263

-314-607-583

793

7,454

1,074

-108-20

-652763245133804

6,380

4803889688

389533139

2971(*\

1 772594119

-5 346572-88

-4203 785

IV

-3,047

-1,181

-612

-569418-34265

-1,163-89

-1,866

-1,641

-745-397-299-200

-342-419-174

-506-200

1,392278781

33300

-1 617-1873-2315-1,149

1,302103

6,871

-2,160

-189628

-778-1 087

712-923-53

9,031

64021,769

860

5920-13433

5008201

2328658-76

501169728

-7656027

198

I'

-2,568

-1,340

-111

-1,229-1,032

-506-103-556

462

-1,228

-1,584

-793-691-100

-745-692

-147

1,400100700300300

-1 044-395

-1 867-1,382

70627

8,665

-124

-256139

-1,45873065

-15371,604

8789

45983307

884

5063200263

4290520

1 6611 530

15

12 835721147305

7 272

9

II"

-5,908

-4,121

-529-30

-3,592-4,013-3,062

-2061,004-377

-1,787

-1,522

-433-396-397-296

-248-793

-185-296

1,200

600

600

-1 465-2218-2 175

-603911445

9,600

3,412

289-366-5741 060

118371,285

6 188

57231 865

-1 400

5247-195

1374739

-16-201

911247

1 48892

252839

3718




Table 7.—Claims on and Liabilities to Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns


Line (Credits +; increase in U.S. liabilities or decrease in U.S. assets.Debits -; decrease in U.S. liabilities or increase in U.S. assets.)

1988 1989 AmountsoutstandingMarch 31,

1989

Al Claims, total (table 1, line 48) -1,684

2 Financial claims —5773 Denominated in U.S. dollars , —9764 Denominated in foreign currencies 399

5 By type: Deposits , 7146 Other claims l 1 —1,291

7 By area! Industrial countries2 * —4818 Of which United Kingdom ..w. -6469 Canada 281

10 Caribbean banking centers3 -8911 Other -7

12 Commercial claims —1,10713 Denominated in U.S. dollars -1,12614 Denominated in foreign currencies 19

15 By type: Trade receivables -1,10516 Advance payments and other claims -2

17 By area: Industrial countries2 „ —57718 Members of OPEC4 2219 Other . -552

Bl Liabilities, total (table 1, line 62) 6,558

2 Financial liabilities 2,8463 Denominated in U.S. dollars 2,9624 Denominated in foreign currencies -116

5 By area: Industrial countries2 2,3876 Of which United Kingdom 9417 Caribbean banking centers3 299g Other 160

9 Commercial liabilities 3,71210 Denominated in U.S. dollars 3,81811 Denominated in foreign currencies -106

12 By type: Trade payables —68313 Advance receipts and other liabilities 4,395

14 By area: Industrial countries2 , 3,52215 Members of OPEC4 -74516 Other 935

-65

71-186

257

1,867-1,796

-425-590

15646828

-136-294

158

-91-45

-15272

-56

1,565

1,7541,643

111

1,428870341-15

-189-240

51

-852663

235-911

487

-6,443

-5,826-5,856

30

-6,802976

-1,402-1,580

-264-4,340

-84

-617-567-50

-697

-306-78

-233

-417-254-163

-556-344

(*)139

358498

-140

31840

-1256103

255

-142229

-577

284-426

561,099-585-192

-6

397534

-137

34552

53422

-159

2,350

856972

-116

1,317837

-363-98

1,4941,454

40

-2901,784

1,444114-64

4,569

5,3204,837

483

5,365-45

1,290425974

3,97555

-751-799

48

-662-89

-6536

-104

2,702

65360152

198-422

321134

2,0492,106

-57

1411,908

1,844-204

409

1,835

1,8881,823

65

946942

1,12795916668081

-53-51-2

127-180

-1345724

2,852

1,4211205

216

1,9591,945-574

36

1,4311,438

514917

489265677

n.a.n.a.

n.a.n.a.

n.a.n.a.

n.a.n.a.

n.a.n.a.

n.a.n.a.n.a.

n.a.n.a.n.a.

n.a.n.a.n.a.

n.a.n.a.n.a.

n.a.n.a.n.a.

30,169

18,34616,655

1,691

13,6104,736

11,8027,6192,1715,769

775

11,82311,316

507

10,4471,376

7,2041,0153,604

37^63

16,17512,4723,703

14,7218,213

660794

21,38819,686

1,702

6,76014,628

14,3182,2404,830




Table 8.—Claims on Foreigners Reported by U.S. Banks


Line

1

2

3

4567

89

10

111213

14

151617181920

212223242526

27

282930313233

1

2345

67g

(Credits +; decrease in U.S. assets. Debits -; increase in U.S. assets.)

Total (table 1, line 49)

By type:Banks own claims . . . . . . . . .

Payable in dollars

By borrower:Claims on:

own foreign officesunaffiliated foreign banksforeign public borrowers 'other private foreigners

By bank ownership: 2

U.S.-owned banks' claims on:own foreign officesunaffiliated foreign banksother foreigners

Foreign-owned banks' claims on:own foreign officesunaffiliated foreign banksother foreigners

Payable in foreign currencies

Banks' domestic customers' claimsPayable in dollars

DepositsNegotiable and readily transferable instrumentsOutstanding collections and other

Payable in foreign currencies . .

By area:Industrial countries 3 .

Western EuropeOf which United Kingdom

CanadaJapanOther

Caribbean banking centers4

Other areasOf which Members of OPEC, included below 5

Latin AmericaAsiaAfricaOther6

Memoranda:International banking facilities' (IBF's) own claims, payable in dollars (lines 1-13 above)

By borrower:Claims on:

own foreign offices . . .unaffiliated foreign banksforeign public borrowers . . .all other foreigners


U S.-owned IBF'sForeign-owned IBF's

Banks' dollar acceptances payable by foreigners

1988

-54,481

-45,231

-30,414

-31,788-1,934

2,730577

-22,670-982

-1,296

-9 118-9514,603

-14,816

-9,250-9,437-4597

1 324-6 165

188

-46,403-14,145-12,636

6456-39 563

849

-5,721

-2,356-2,530

5,762-7,882

-678441

-17,881

-21,67949063

3,245

-8,051-9,830

3,622

I

15,266

14721

15,728

1,5319,8841,2853,027

-1,6962,0681,434

32277 8172,878

-1,006

545804

-1 3183377

-1 255-259

10,17310,0906,1513543

-4 105645

296

4,798749

1,1712,435-1441,335

13,376

69715361-5311575

32313,0534,398

19

II

-12,602

-14 069

-15,330

-7,423-5,733

-784-1,390

7,906-3,331-1,815

-15 329-2402

-359

1,261

1,4671,661

167-6632 157-194

-20,340-3,938-2,901-2014

-14 158-230

9,456

-1,718-7891,326

-2,307-248-489

-9,910

-8 585-1738

53360

1,605-11515

-880

88

III

-26,229

-26 410

-17,652

-14,854-1,103-1,075

-620

-13 062-1,288-2,790

-1 792185

1,095

-8,758

181-487-5483086

-3026669

-8824-1,938-2,192

1 184-8602

532

-12 820

-4585-1962

1285-2,933

-19-2918

-7,678

-8 163-1 061

882664

-5485-2193

911

IV

-30,916

-19 473

-13,160

-11,042-4,982

3,304-440

-158181,5691,875

4776-6551

989

-6,313

-11,443-11,415-2 898-4476-4041

-28

-27,412-18,359-13,694

3743-12 698

-98

-2653

-851-5281980

-5077-2672513

-13,669

-11 902-2072

-341646

-4494-9 175

-807

19

I'

-22,132

-16 465

-12,792

-14,570-661-2582,697

-2,541490

2,463

-12 029-1 151

-24

-3,673

-5,667-5,655-3795

739-2599

-12

-17 786-2,917

788-603

-13 545-721

-10 256

5910813714

4,916-217

497

-11,390

-7734-3759

7924

-1 563-9827

2395

89

UP

28,527

25227

15335

13,3153,565

656-2,201

8972464

-1,784

43433 101

239

9892

3,3003,646

9312943-228-346

30,311456269063 635

22 1104

1 049

-2 833-7422099

-3 916-57

-959

4,913

9092 8791 315-190

-2 1167029

188

Amounts

June 30,1989

601,563

551 308

488,541

258,600126,51062,04141,390

11556446,14260,148

143 0368036843,283

62,767

50,25549,53211 1532201716362

723

308 750153 5208597621 036

1300964098

143 532

149 28121 074887154861445637389

267,200

108 930898584626422 148

89 114178 08616973




Table 9.—Foreign Official Assets and Other Foreign Assets in the United States Reported by U.S. Banks


Line

Al

23456789

1011121314

Bl

2

34

567

89

10

11

121314

15161718

192021

222324

25

2627

2829303132333435363738

1

2345

67

8

(Credits +; increase in foreign assets. Debits -; decrease in foriegn assets.)

Foreign official assets in the United States (table 1, line 51)

By type:U S Treasury securities (table 1 line 53)

Bills and certificates . ,Bonds and notes marketable .Bonds and notes nonmarketable . .

Other U S Government securities (table 1 line 54) . .'Other U S Government liabilities (table 1 line 55)US liabilities reported by U.S. banks, not included elsewhere (table 1, line 56)

Demand deposits '.Time deposits 'Other liabilities 2

Banks' custody liabilities payable in dollars 1 3

Other foreign official assets (table 1 line 57)

By area (see text table B):

Other foreign assets in the United States (table 1, lines 60 and 63) . . .

By type:U S Treasury securities (line 60)

By security:Bills and certificatesMarketable bonds and notes

By holder:Foreign banksOther private foreignersInternational financial institutions 4

U S liabilities reported by U S banks (line 63)Banks' own liabilities '

Payable in dollars

By account:Liabilities to own foreign officesLiabilities to unaffiliated foreigners:

demand depositstime deposits ' .other liabilities 2

By holder:Liabilities to:

own foreign offices .unaffiliated foreign banks .. .other private foreignersinternational financial institutions4


U.S. -owned banks' liabilities to:own foreign officesunaffiliated foreign banksother private foreigners and international financial institutions 4

Foreign-owned banks' liabilities to:own foreign officesunaffiliated foreign banksother private foreigners and international financial institutions 4

Payable in foreign currencies

Banks' custody liabilities payable in dollars ' 3 . . . .Of which negotiable and readily transferable instruments

By area:Industrial countries 6 .

Western EuropeCanadaOther

Caribbean banking centers 7 ,Other areas

Of which Members of OPEC included below 8

Latin America .Asia . .AfricaOther 9

Memoranda:International banking facilities' (IBF's) own liabilities, payable in dollars (in lines A9, and BIO

above).

By holder:Liabilities to:

own foreign officesunaffiliated foreign banks ...foreign official agencies.... . . ,other private foreigners and international financial institutions A


U.S.-owned IBF'sForeign-owned IBF's

Negotiable certificates of deposit held for foreigners ' (in lines A13 and B27 above)

1988

38,882

41,68314,83426,625

2241,309

-1,284-331

-1,606144

-3,0581,3081,275

-2,495

88,976

20,144

-1,65121,795

-1,53320,774

903

68,83260,06844,506

40,402

-7045,705-897

40,402-3,604

7,883-175

27,663-2464,409

12,739-3,358

3,299

15,562

8,764573

41,17815,573

-11,02436,62939,306

8,492967

6,4142,660

101-683

17,668

22,287-3,842-3,133

2,356

8,7618,908

-901

1988

I

24,631

27,7026,760

20,450492

-162-304

-1,772-1,683

259-1,052

-890-89

-833

-11,209

5,928

-3076,235

-5397,038-571

-17,137-23,834-24,314

-10,642

-853-9,471-3,348

-10,642-14,597

-9731,898

-7,1081,742

464

-3,534-16,339

461

480

6,6971,253

-12,789-13,768-4,682

5,661-6722,252

-602,651

-1,679126

1,406

-16,842

-1,407-14,652-1,172

389

-240-16,602

14

II

5,895

5,853-3676,510-290

202-517

774920

-183155948

-146-417

35,913

5,458

-2905,748

-3833,3742,467

30,45530,31631,682

27,810

1,2623,369-759

27,810754

1,9931,125

9,5442

2,336

18,266752782

-1,366

139-1,668

20,97518,423

1,3471,205

10,6404,298-763

23718

3143,729

14,073

12,784487379423

-12814,201

425

m

-2,234

-3,7691,566

-5,34611

572-2321,7031,073-84-89

1,246630

-508

26,713

3,422

-3633,785

-2434,788

-1,123

23,29119,97313,214

2,185

-1,3967,5524,873

2,1857,8773,955-803

7,917561

1,295

-5,7327,3161,857

6,759

3,318996

12,8092,152

-1,65712,31411,7082,1963,4141,9232,690-1982219

8,249

-8627,492

2441,375

1,8046,445

-1,313

IV

10,589

11,8976,8755,011

11697

-232-1,036-1,916

152-2,072

4880

-737

37,559

5,336

-6916,027

-3685,574

130

32,22333,61323,924

21,049

2834,255

-1,663

21,0492,3622,908

-2,395

17,310-2,551

314

3,7394,913

199

9,689

-1,390-8

20,1838,766

-6,03217,44917,630-254

-1,6241,6031,631

111-3,599

12,188

11,7722,831

-2,584169

7,3254,864

-27

1989

I-

7,478

4,634-8,21212,835

11721

-3041,974

767-3471,321-2071,207

452

21,851

8,590

1,3187,272

-2898,737

142

13,26110,6229,267

1,019

8824,5012,865

1,0197,803

18427

-1,5023,957

-1,153

2,5213,8461,598

1,355

2,639-742

20,1575,3364,247

10,5741,413

281675

1,156-1,794

-3922

15,915

9,2684,0442,125

478

1,81814,097

-543

II '

-4,948

-9,763-8,286-1,488

11-92396

3,9244,198

220-7404,718-274

587

-20,100

2,722

-9963,718

4571,330

935

-22,822-26,255-18,191

-14,294

-1,388-4,274

1,765

-14,294-8,022

4,595-470

-6,648883

3,168

-7,646-8,905

957

-8,064

3,433508

-28,032379

-8,291-20,120

3,1754,7571,095-59

3,640153

1,023

-7,001

-67-7,754

490330

-692-6,309

-478

Amountsoutstanding

June 30,1989

323,239

245,33887,347

157,446545

10,18914,08037,34231,998

1,82010,13620,0425,344

16,290

710,704

107,927

11,57396,354

7,76793,739

6,421

602,777545,713477,613

274,592

19,494142,74840,779

274,592120,42080,1292,472

118,72824,34049,236

155,86496,08033,365

68,100

57,06411,999

374,044245,95220,104

107,988217,860118,80024,06757,35747,1482,673

11,622

294,519

150,785100,64115,02528,068

83,427211,092

5,339




Table 10.—U.S. International[Millions

Line

1

2

34

567

89

10

11121314

15

16

17

1819

202122

232425

26272829

30

31

323334

35

3637383940

41424344

4546474849

50

51525354555657

585960616263

64

65

6667686970

(Credits +; debits -) '



Services 4

Transfers under U S military agency sales contracts

TravelPassenger fares .Other transportation

Royalties and license fees 5 6

Other private services 6

U S Government miscellaneous services

Receipts of income on U S assets abroadDirect investmentOther private receiptsU S Government receipts

Transfers of goods and services under U S. military grant programs, net .

Imports of goods and services »


Services 4

Travel .Passenger fares . .Other transportation

Royalties and license fees s 6

Other private services 6

Payments of income on foreign assets in the United States

Other private payments .U S Government payments

U.S. military grants of goods and services, net

Unilateral transfers (excluding military grants of goods and services), net

U S Government grants (excluding military grants of goods and services)U S Government pensions and other transfers ..Private remittances and other transfers *

U.S. assets abroad, net (increase/capital outflow (— ))

US official reserve assets net7

GoldSpecial drawing rightsReserve position in the International Monetary FundForeign currencies

U S Government assets other than official reserve assets netU S credits and other long-term assetsRepayments on U.S. credits and other long-term assets 8

U.S. foreign currency holdings and U.S. short-term assets, net

U S private assets net . . . .Direct investment .Foreign securities ..U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns

Foreign assets in the United States, net (increase/capital inflow (+))

U S Government securitiesU S Treasury securities 9

Other10

Other U S Government liabilities n

U S liabilities reported by U S banks, not included elsewhereOther foreign official assets 12

Other foreign assets in the United States, netDirect investmentU.S. Treasury securitiesU.S. securities other than U.S. Treasury securitiesU.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concernsU.S. liabilities reported by U.S. banks, not included elsewhere


Statistical discrepancy, and transfers of funds between foreign areas, net (sum of above itemswith sign reversed).

Memoranda:Balance on merchandise trade (lines 2 and 17)Balance on services (lines 3 and 18) .. .Balance on goods and services (lines 66 and 67) 13 .Balance on goods, services, and remittances (lines 68, 33, and 34)Balance on current account (lines 68 and 31) "

Western Europe

1988

159,467

86,414

73,0533,532

9,7953,6805,439

6,1726,131

136

38,16822,03314,781

1,354

22

-194,735

-102,200

-92,535-10,355

-11,004-3,736-6,449

-1,349-4,097

-588

-54,958-13,370-29,008-12,580

-22

-64

-520-8251,281

-28,765

-3,906

-3,906

888-1,068

1,9532

-25,747-3,335-6,817-1,433

-14,162

62,835

75(17)(17)(17)

-395(17)(17)

62,75929,824

(17)

13,0064,354

(17)

1,262

-15,786-19,483-35,269

34813-35,332

1988

I

38,158

21,552

16,6061,039

1,669683

1,362

1,3901,626

38

8,8005,2893,236

275

12

-46,364

-25,205

-21,159-2,627

-1,839-685

-1,586

-327-1,022

-161

-12,912-3,104-6,780-3,028

-12

-10

-123-198

311

4,901

656

656

23-245

293-25

4,222-2,161-3,208

-52510,116

-3,913

4,523(17)(17)(17)

-286(17)(17)

-8,4362,660

(")1,2451,421

(17)

7,228

-3,653^t,553-8,206-8,093-8,216

II

37,231

22,110

15,121p

2,ki879

1,372

1,4271,447

28

6,7832,9333,632

218

2

-49,788

-26,109

-23,679-2,567

-3,169-1,042-1,646

-340-959-134

-13,822-3,649-6,961-3,212

-2

39

-112-201

353

-2,498

-214

-214

-233-340

139-31

2,0523,949

20-2,083-3,938

27,954

-2,701(")(17)(17)

-93(.7)(17)

30,6559,018

(17)

3,950-714

(.7)

-12,938

-3,999-8,558

-12,557-12,405-12,517

m

36,389

19,927

16,462907

3,2661,2981,344

1,4441,472

37

6,6942,8303,616

248

2

-48,753

-23,908

-24,845-2,555

-4,309-1,239-1,580

-339-968-137

-13,719-3,286-7,371-3,062

-2

47

-72-196

315

-7,647

-4,795

-4,795

-9-249

22615

-2,843-454

-1,6221,171

-1,937

8,291

-5,464(17)

e7)(17)

-161(17)(17)

13,7545,573

(.7)

3,7872,217

(.7)

11,673

-3,981-8,383

-12,364-12,245-12,317

IV

47,689

22,825

24,864764

2,499820

1,360

1,9111,586

34

15,89110,9814,297

612

6

-49,830

-26,978

-22,852-2,606

-1,687-770

-1,638

-343-1,147

-155

-14,506-3,332-7,896-3,278

-6

-140

-212-231

303

-23,521

447

447

1,106-2341,296

44

-25,075-4,668-2,008

4-18,403

30,503

3,717

ft(17)

145(17)(17)

26,78712,574

(17)

4,0241,430

(17)

-4,700

-4,1532,012

-2,141-2,070-2,282

1989

I'

42,039

24,501

17,538970

1,943774

1,625

1,5421,894

49

8,7413,9014,462

378

3

-47,998

-25,054

-22,944-2,517

-1,842-789

-1,716

-349-1,149

-140

14442-2,894-8,204-3,344

-3

81

-26-199

306

-10,787

-3,534

-3,534

366-186

5502

-7,619-3,737-2,072

1,063-2,873

26,889

-63(17)(17)(17)

-320(17)

(")26,95214,619

(")4,8072,148

O7)

-10,223

-553-5,407-5,960-5,853-5,879

11"

43,775

25,050

18,725755

2,808916

1,724

1,6441,858

29

8,9903,5375,067

387

4

-52,100

-25,690

-26,410-2,520

-3,329-1,158-1,799

-330-1,196

-139

-15,939-3,420-8,898-3,621

-4

169

-29-190

389

-8,276

-5,308

-5,308

-134-304

170(*)

-2,835-467

-6,930n.a.

4,562

12,388

2405'so7)146(17)

(n)

14,7938,894

(17)

5,535n.a.(17)

4,044

-640-7,685-8,325-8,127-8,156


1988

135,790

74,510

61,2802,585

7,5773,1824,303

5,5425,143

101

32,84818,95713,121

769

15

-165,111

-85,646

-79,465-9,690

-9,970-3,127-5,169

-881-3,399

-468

-46,761-11,658-25,300-9,803

-15

662

-142-6511,455

-30,567

-3,470

-3,470

-179-660

486-6

-26,918-4,439-8,188-1,13113 160

61,170

(.8)(18)(18)

e8)-312

(18)(18)

(18)

28,365(18)

14,7703,418

18 14,929

-1,943

-11,136-18,186-29,322-28,518-28,660

1988

I

32,658

18,636

14,022821

1,282587

1,043

1,2571,366

32

7,6344,4972,946

191

9

-39,284

21242

-18,042-2,462

-1,616-580

-1,217

-208-868-133

-10,958-2,693-5,908-2,357

-9

197

-3-163

363

3,430

722

722

-90-190

129-29

2,798-3,120-2,694

-5929,204

-2,168

(18)(18)

ft-312

(18)(18)

(18)

3,497(18)

1,5991,174

18 -8, 126

5,167

-2,606-4,020-6,626-6,426-6,429

II

31,320

19,015

12,305576

1,803739

1,093

1,2731,226

18 >

5,5772,3593,090

129

2

-41,995

-21,686

-20,309-2,412

-2,903-849

-1,331

-221-791-105

-11,697-3,184-6,079-2,434

-2

160

-68-162 ,

390

-2,643

-154

-154

-82-125

76-33

-2,4073,633

-1,039-1,939-3,062

28,201

(18)(18)(18)(18)

-106(,8)(18)

(18)

8,644(18)

4,296-505

18 15,871

-15,043

-2,671-8,004

-10,67510447

-10,515




Transactions, by Area

of dollars]


1988

III

31,115

17,202

13,913671

2,5961,1461,075

1,2961,236

25

5,8692,3893,306174

1

-41,587

-20,161

-21,426-2,350

-3,883-1,024-1,278

-224-815-107

-11,745-2,896-6,439-2,410

-1

177

-19-163358

-8,906

-4,781

-4,781

-2-14212120

-4,123-445

-1,9151,116

-2,880

6,272

(18)

C8)(18)O8)-85(18)0")

(18>4,650

(18)

4,5052,066

18 -4,864

12,929

-2,959-7,513-10,472-10,276-10,295

IV

40,697

19,657

21,040518

1,896710

1,092

1,7161,31525

13,7689,7133,779275

3

-42,246

-22,557

-19,689-2,466

-1,568-674

-1,344

-228-925-324

-12,361-2,885-6,874-2,602

-3

128

-52-163344

-22,448

743

743

-6-20416137

-23,185-4,507-2,540

284-16,422

28,866(18)

(IS)

(18)

(18)

190C8)(18)

(18)

11,575<18)

4 70683

18 12,048

-4,997

-2,9001,351

-1,549-1,369-1,421

1989

I"

35,994

21,273

14,721111

1,476642

1,350

1,3951,558

41

7,4893,1044,100285

3

-40,383

-20,771

-19,612-2,384

-1,639-675

-1,350

-260-966-107

-12,232-2,455-7,101-2,676

-3

182

-6-170359

-9,429

-3,527

-3,527

343-90434(*)

-6,245-3,404-1,766

836-1,911

25,051(18)

(18)

(18)

(18)

-302(18)

(18)

(.8)

13,892(,8)

5,9702,097

18 3,394

-11,416

502-4,891-4,389-4,200-4,207

II f

37,182

21,485

15,697569

2,144775

1,429

1,4741,55824

7,7242,9374,475312

2

-44,055

-21,435

-22,620-2,380

-3,051-943

-1,472

-249-1,001-109

-13,415-2,851-7,690-2,874

-2

258

-6-161426

-6,486

-5,524

-5,524

-52-10756-1

-909-429

-6,694n.a.

6,214

4,673(18)

(18)

(.8)

(18)

102C8)(18)

(18)

7,525(18)

5,874n.a.

18 -8,828

8,427

50-6,923-6,873-6,609-6,615

United Kingdom

1988

44,233

18,042

26,191470

2,6431,219878

1,3512,413

22

17,1968,6368,510

50

-57,431

-17,680

-39,751-1,416

-3,324-1,075-1,343

-339-1,966

-73

-30,216-7,259-19,810-3,147

540

-3-97640

-24,017

-3

-3

96

107-10

-24,111-4,627-6,072-776

-12,636

40,598(18)

(18)

(18)

(18)

-19C8)(18)

C8)18,774

(18)

12,3071,721

18 7,815

-3,922

362-13,560-13,198-12,655-12,658

1988

I

10,576

4,424

6,152187

428223215

3076748

4,1092,2231,886

1

-13,004

-4,178

-8,826-431

-515-191-301

-75-479-22

-6,812-1,485-4,598-729

114

-24"138

1,417

-1

-1

-2

-2

1,420-2,524-1,630-5776,151

-7,891(18)

(18)

(18)

(18)

-127(18)

(18)

(18)

2,567(18)

1,1221,038

18 -12,491

8,789

246-2,674-2,428-2,314-2,314

II

10,125

4,679

5,44683

622298225

317565

1

3,3351,3391,995

1

-14,685

-4,589

-10,096-327

-1,125-284-339

-80-467-17

-7,458-1,884-4,829-745

148

-1-24173

-4,943

-1

-1

-5

-5

-4,93767

-486-1,617-2,901

23,660(18)

(18)

C8)(18)

20C8)(18)

' C8)5,231C8)

3,530-339

18 15,218

-14,306

90-4,649-4,559-4,410-4,412

III

10,320

4,202

6,118106

833402

; 215

32256011

3,6691,5232,145

1

-14,599

-4,154

-10,445-326

-1,200-343-345

-90-460-17

-7,664-1,864-5,045-755

160

-1-25185

-4,911

-1

-1

(*)

(*)

-4,910-2,466-1,2751,023

-2,192

9,948(18)

(18)

(18)

(18)

-7(18)

(18)

(18)

2,963(18)

3,7341,146

18 2,1 12

-918

48-4,327-4,279-4,119-4,119

IV

13,212

4,737

8,47594

760296223

4056132

6,0833,5512,484

48

-15,144

-4,759

-10,385-332

-484-257-357

-94-560-17

-8,283-2,027-5,338-918

119

-1-25145

-15,580

-1

-1

104

107-3

-15,683296

-2,680395

-13,694

14,880(18)

(.8)

(18)

(18)

950")(18)

(18)

8,012(18)

3,921-124

18 2,976

2,513

-22-1,910-1,932-1,812-1,813

1989

I'

11,291

5,084

6,207116

533285301

29874216

3,9161,2102,705

1

-14,205

-4,233

-9,972-340

-561-219-348

-86-573-19

-7,827-1,437-5,431-959

111

-26137

-3,371

-1

-1

5

5

-3,375-2,241-2,869

947788

20,676(18)

(18)

(IS)

(18)

-96(18)

(18)

(18)

10,621(18)

5,0202,480

18 2,652

-14,502

851-3,765-2,914-2,803-2,803

HP

11,530

5,016

6,514142

739348325

33279015

3,824925

2,8981

-15,881

-4,352

-11,529-340

-1,180-317-393

-74-574-20

-8,632-1,733-5,885-1,014

149

-24173

869

-1

-1

(*)

(*)

870-621

-5,415n.a.

6,906

3,639(18)

(18)

(18)

(18)

-12(18)

(18)

(18)

3,227C8)

5,798n.a.

18 -5,373

-306

664-5,015-4,351-4,202-4,202

European Communities (6) 1S

1988

75,313

48,014

27,2991,061

4,0211,6762,478

3,7052,113

57

12,1887,5284,209451

-1

-94,936

-60,368

-34,568-7,658

-5,652-1,496-2,693

-521-1,164-289

-15,095-4,217-5,098-5,780

1

498

-17-378893

-4,668

-3,467

-3,467

51

52-1

-1,2521,481

-2,244-216-274

7,807(18)

(18)

(18)

(18)

16(18)

(18)

(.8)

8,742(.8)

2,3261,410

18 -4,687

15,987

-12,354-7,270-19,624-19,109-19,125

1988

I

18,124

12,182

5,942231

715316616

85752521

2,6621,591966106

(*)

-23,547

-15,281

-8,266-1,877

-977-283-662

-127-340-90

-3,910-1,186-1,231-1,493

(*)

154

-1-95249

2,832

722

722

-10

14-24

2,120-103

-1,113-33

3,369

3,812

(18)

(18)

(18)

(18)

-56(18)

(18)

(18)

861(18)

468116

18 2,423

-1,376

-3,099-2,323-5,422-5,268-5,269

II

17,072

12,056

5,016260

938376618

8415159

1,46039098981

(*)

-24,253

-15,325

-8,928-1,925

-1,478-409-696

-136-263-62

-3,959-1,262-1,169-1,528

(*)

126

-11-95231

1,528

-153

-153

-13

12-26

1,6943,586

-1,073-284-535

218

(18)

(18)

(18)

(18)

-42C8)(18)

(18)

3,330(18)

742-172

18 -3,640

5,309

-3,269-3,911-7,180-7,044-7,055

III

17,081

11,050

6,031317

1,413642622

86853011

1,628481

1,06682

-23,537

-14,112

-9,425-1,895

-2,259-491-649

-129-279-63

-3,660-984

-1,293-1,383

100

(*)-94195

-3,331

-4,780

-4,780

31

1418

1,4182,142-45298

-370

-7,274(18)

(18)

(18)

(18)

34(18)

(18)

(18)

1,651(.8)

678914

18 -10,551

16,961

-3,062-3,394-6,456-6,355-6,356

IV

23,035

12,726

10,309253

955342623

1,13954317

6,4375,0671,188182

(*)

-23,600

-15,650

-7,950-1,961

-938-313-687

-129-282-75

-3,566-785

-1,405-1,376

(*)

119

-5-95218

-5,697

744

744

43

1231

-6,484-4,143

3953

-2,738

11,050(18)

(18)

(18)

(18)

80(18)

(18)

(18)

2,900C8)438552

18 7,081

-4,907

-2,9242,359-565-442-447

1989

I'

19,893

13,564

6,329304

776301760

94363318

2,5941,1511,261182

-22,709

-14,340

-8,369-1,891

-950-342-712

-169-324-64

-3,918-997

-1,517-1,404

149

_1-98247

-5,281

-3,526

-3,526

9

14-5

-1,763-6261,179-131

-2,185

4,557(18)

(18)

(18)

(18)

-24(18)

(18)

(18)

2,932O8)786-355

18 1,217

3,391

-776-2,040-2,816-2,667-2,668

IP

21,400

14,113

7,287319

1,116367797

9846118

3,0861,4041,425257

-24,216

-14,724

-9,492-1,900

-1,555-452-773

-171-347-71

-4,225-1,075-1,630-1,520

173

_1-94268

-6,372

-5,523

-5,523"

13

12(*)

-861377

-832n.a.-406

866

(18)

(18)

(18)

(18)

11(18)

(18)

(18)

4,222C8)

-306n.a.

18 -3,061

8,149

-611-2,205-2,816-2,642-2,643

Line

1

2

34

567

8910

11121314

15

16

17

1819

202122

232425

26272829

30

31

323334

35

3637383940

41424344

4546474849

50

51525354555657

585960616263

64

65

6667686970



Table 10.—U.S. International[Millions

Line

1

2

34

567

89

10

11121314

15

16

17

1819

202122

232425

26272829

30

31

323334

35

3637383940

41424344

4546474849

50

51525354555657

585960616263

64

65

6667686970

(Credits +; debits -) >



Services4 ;:Transfers under U S military agency sales contracts

Travel

Other transportation

Royalties and license fees 5 6 , . . . .Other private services 6 . .U S. Government miscellaneous services

Other private receiotsU S Government receiots

Transfers of goods and services under U S military grant programs) net


Services4

Direct defense expenditures . ,

Travel.

Royalties and license fees s 6

U S Government miscellaneous services

Payments of income on foreign assets in the United States

Other orivate navmentsU S Government payments .

U S military grants of goods and services, net

Unilateral transfers (excluding military grants of goods and services), net .

U S Government grants (excluding military grants of goods and services)


U S official reserve assets net 7GoldSpecial drawin^ rightsReserve position in the International Monetary FundForeign currencies . . . .

U S Government assets, other than official reserve assets, netU S credits and other long-term assetsRepayments on U S credits and other long-term assets 8

U S foreign currency holdings and U S short-term assets net

U S private assets net

Foreign securities ,U S claims on unaffiliated foreigners reported by U S nonbanking concernsU S claims reported by U S banks not included elsewhere

Foreign assets in the United States, net (increase/capital inflow (+))

Foreign official assets in the United States netU S Government securities .

U S Treasury securities ' . ....Other10

Other U S Government liabilities n

U S liabilities reported by U S banks not included elsewhere ,Other foreign official assets 1Z .

Other foreign assets in the United States netDirect investmentU S Treasury securitiesU S securities other than U S Treasury securitiesU S liabilities to unaffiliated foreigners reported by U S nonbanking concerns > .U S liabilities reported by U S banks not included elsewhere


Statistical discrepancy, and transfers of funds between foreign areas, net (sum of above itemswith sign reversed).

Memoranda:Balance on merchandise trade (lines 2 and 17)Balance on services (lines 3 and 18)Balance on goods and services (lines 66 and 67) l3 . . .Balance on goods services and remittances (lines 68 33 and 34)Balance on current account (lines 68 and 31) 13

Eastern Europe

1988

4,402

3,796

606(*)

179

108

3212310

154

13024

-2,740

-2,165

-575-3

-244

-171

-76-40

-42

-41_1

-176

-9-20

-147

-1,103

141

11031

-1,244

-23-74

-1,147

327

(18)

(.8)

(18)

(18)

(*)(18)

(18)

(18)

(18)

21

10818 198

-709

1,63130

1,6611,4941,486

1988

I

1,323

1,190

133(*)

29

33

631

1

33

285

-621

-514

-107-1

-16

-55

-18-9

-9

-9

-38

-6-32

109

12

103

97

-15-2

114

121

(18)

(18)

(18)

(18)

(*)(18)

(18)

(18)

<29

18 100

-894

67626

702664664

II

1,181

1,036

145

38

29

829

1

40

2713

-774

-626

-148-1

-65

-45

-18-9

-10

-9-1

-42

-6-3

-33

-165

83

6716

-248

-78-170

201

(18)

(18)

(18)

(18)

(*)

8(18)

<")-8

18 207

-401

410-3

407371365

HI

712

552

160

59

22

9315

34

313

-702

-477

-225-1

-151

-31

-19-11

-12

-12

-40

-1-5

-34

95

12

6.6

83

-9866

-280

(18)

(18)

(.8)

(18)

(*)(18)

(18)

(18)

(18)

918 -294

215

75-65

10-29-30

IV

1,185

1,018

167(*)

53

23

9323

47

443

-643

-548

-95-1

-12

-40

-20-11

-11

-11

-55

-1-6

-49

-1,142

34

287

-1,176

1-80

1,097

285

(18)

(18)

(18)

(,8)

(18)

(18)

(18)

(18)

9818 185

370

47072

542488487

1989

I'

1,876

1,702

174(*)

42

20

9362

65

623

-648

-560

-88-1

-15

-29

-20-10

-13

-13

-38

-6-32

258

7

52

251

• 6-43300

99

(18)

(18)

(18)

(18)

8(is)(18)

(18)

32is 69

-1,548

1,14286

1,2281,1901,190

E"

1,988

1,814

174

45

22

9312

65

632

-635

-487

-148-1

-68

-30

-21-9

-19

-19

-37

-4-33

50

28

28(*)

22

n.a.22

-1

(18)

(18)

(18)

(18)

(*)

(18)

(18)

(18)

(18)

10

n.a.18 -11

-1,366

1,32727

1,3541,3171,317

Canada

99,282

73,540

25,742197

3,976664

1,035

7903,181

33

15,8678,9546,882

31

-95,833

-84,400

-11,433-249

-3,241-241-716

-225-1,650

-114

-4,997-1,082-2,615-1,300

-337

-318-19

-1,031

79

5029

-1,110-4,101-3,754

2896,456

-1,666

4,606(17)

(17)

(")-16(17)(17)

-6,2722,847

(17)1,707

198(17)

-415

-10,86014,3103,4503,1133,113

1988

I

25,783

19,094

6,68963

1,011184253

183840

6

4,1492,5211,613

15

-23,342

-20,774

-2,568-69

-378-38

-172

-40-536-20

-1,315-418-618-279

-90

-79-11

670

9

13-4

661-1,153-1,663

-663,543

-762

2,993(17)

(17)

(")(*)(17)

(17)

-3,755884(")-16

59(17)

-2,259

-1,6804,1212,4412,3512,351

II

25,667

18,807

6,86075

1,110165244

193770

10

4,2952,6161,678

1

-25,201

-22,455

-2,746-48

-776-73

-173

-78-345-28

-1,225-277-642-306

-69

-7910

-3,798

39

2316

-3,837-1,046

-743-34

-2,014

4,812

2,772(")O7)(")-47(17)

(17)

2,039407(17)

565-280

(17)

-1,411

-3,6484,114

466398398




Transactions, by Area—Continued

of dollars]

Canada

1988

III

23,271

16,924

6,34732

1,061141252

19978110

3,8722,0741,783

15

-23,162

-19,631

-3,531-72

-1,528-88-179

-75-390-40

-1,159-138-668-353

-105

-80-26

-2,427

20

146

-2,447-2,217-825-5891,184

-1,599

-705(17)(17)

O7)14(IT)

O7)-894495(")24523O7)

4,022

-2,7072,81610944

IV

24,562

18,715

5,84727

794174287

2167908

3,5511,7431,808(*)

-24,129

-21,540

-2,589-59

-559-42-192

-33-379-26

-1,299-250-687-362

-73

-808

4,524

11

11

4,514315-522978

3,743

-4,117

-455O7)(IT)

(17)

17(")C7)

-3,6621,061(17)

913396O7)

-768

-2,8253,258433360360

1989

I-

26,552

20,253

6,29939

1,285211262

1888776

3,4321,6061,812

14

-24,753

-22,636

-2,117-52

-365-65-148

5-428-19

-1,045-72-610-363

-89

-77-12

-1,741

15

151

-1,756283

-1,47741

-603

5,270

577(17)

(17)

(17)

4(17)

(17)

4,693-26(17)

585-113(17)

-5,239

-2,3834,1821,7991,7101,710

II"

28,887

22,267

6,62031

1,264172265

24084413

3,7911,9041,887

-26,264

-23,387

-2,877-50

-781-87-163

11-420-36

-1,351-257-694-400

-74

-784

1,463

1,463-1,140-1,032

n.a.3,635

-8,773

-544C7)(17)

(17)

8(17)

(17)

-8,23077(17)

-15n.a.(17)

4,762

-1,1203,7432,6232,5482,548


1988

81,867

43,624

38,243304

6,2881,3932,851

2953,950119

23,0444,61717,832594

18

-88,205

-51,421

-36,784-236

-9,206-1,544-2,132

-9-3,391-303

-19,963-893

-17,931-1,139

-18

-3,046

-1,618-467-961

-3,863

-17

-17

-238-1,2161,019-41

-3,608-4,5791,213-27028

56,669

(18)

(18)

(18)

(18)

-63(18)

(18)

(18)

5,899(18)

2,992562

18 47,279

13,422

-7,7971,459

-6,338-7,767-9,385

1988

I

18,737

9,601

9,13660

1,346296714

621,06124

5,5721,2994,084189

5

-21,378

-12,763

-8,615-53

-2,309-443-598

-2-852-61

-4,297-222

-3,836-239

-5

-716

-369-99-248

-32

-129

-129

-120-349277-48

217-1,821

183392

1,463

6,271

(.8)

(18)

(18)

(18)

-19(18)

(18)

(18)

2,281(18)

755427

18 2,827

-2,883

-3,162521

-2,641-2,988-3,357

II

19,693

10,630

9,06362

1,412327657

7491929

5,5831,3254,145113

1

-21,280

-12,761

-8,519-50

-2,140-377-527

-2-855-75

-4,493-216

-4,051-226

-1

-712

-379-109-224

5,508

160

160

4-204233-25

5,344-2,0901,150

-4,49710,781

12,473

(IS)

(18)

(18)

(18)

50(18)

(18)

(18)

-293(18)

409234

18 12,073

-15,683

-2,131544

-1,587-1,919-2,298

III

21,569

11,318

10,251111

1,868392775

7095040

6,0451,1784,683184

2

-22,561

-12,932

-9,629-68

-2,413-386-528

-3-813-94

-5,324-238

-4,756-330

-2

-713

-360-101-252

-13,449

-99-337298-60

-13,350-1,565

(*)-239

-11,546

15,762

(18)

(18)

(18)

(18)

-54(IS)

(.8)

(18)

1,005(IS)

915-448

18 14,344

-609

-1,614622-992

-1,345-1,705

IV

21,869

12,075

9,79471

1,662378705

881,01927

5,844815

4,920109

10

-22,987

-12,965

-10,022-64

-2,344-338-480

-2-872-73

-5,849-217

-5,288-344

-10

-906

-510-159-238

4,109

-48

-48

-24-32621092

4,181896

-1194,074-670

22,163

(18)

(18)

(18)

(18)

-40(18)

(18)

(.8)

2,906(18)

913349

18 18,035

-24,248

-890-228

-1,118-1,515-2,025

1989

lr

22,709

11,865

10,84449

1,689336717

701,184

33

6,7651,0965,521149

5

-24,891

-13,460

-11,431-112

-2,676-461-538

-2-1,101-79

-6,463-105

-6,009-349

-5

-772

-425-96

-251

-10,016

-402

-402

117-200326-9

-9,731-1,471

424849

-9,533

4,321

(18)

(18)

(18)

(18)

11(18)

(18)

(.8)

1,401(18)

2,825-39118 475

8,650

-1,595-588

-2,183-2,529-2,954

11"

23,401

12,033

11,36865

1,721344747

761,110

28

7,2771,2865,918

73

4

-26,467

-14,950

-11,517-110

-2,366-406-556

_1-982-84

-7,012-172

-6,459-381

-4

-736

-421-90-225

1,480

450

450

-22-221203-4

1,052-2,246-147n.a.

3,445

4,341

(18)

(18)

(18)

(18,

25(18)

(18)

(18)

1,471(18)

1,445n.a.

18 1,400

-2,020

-2,917-148

-3,065-3,380-3,801

Japan

1988

62,863

37,148

25,715309

4,9261,8612,753

2,4202,130

31

11,2853,2707,949

66

-112,734

-89,760

-22,974-1,955

-1,793-465

-3,676

-361-628-99

-13,999-1,478-5,347-7,174

-103

-29-74

-41,939

-1,142

-1,142

8

44

-40,806-1,976

507227

-39,563

86,325

(18)

(18)

(18)

(18)

219(IS)

(18)

(18)

17,838(18)

9,310761

18 58,197

5,590

-52,6122,740

-49,872-49,975-49,975

1988

I

14,741

8,740

6,001118

1,152432657

5225112

2,6071,0401,558

10

-25,814

-20,853

-4,961-461

-390-89-898

-83-143-18

-2,879-116

-1,154-1,609

-37

-9-27

-4,680

375

375

3

11

-5,057-671-232-49

-4,105

23,900

(18)

(18)

(18)

(,8)

-96(18)

(18)

(18)

3,879(18)

1,52566

18 18,526

-8,110

-12,1131,040

-11,073-11,110-11,110

II

15,089

9,226

5,86349

1,109470665

6035243

2,441713

1,7217

-27,179

-21,501

-5,678-503

-586-136-860

-90-156-28

-3,320-438

-1,203-1,679

-15

-2-12

-13,496

-156

-156

3

(*)2

-13,343-347703460

-14,158

14,855

(18)

(18)

(18)

(18)

110(18)

(18)

(,8)

5,078(18)

4,475169

18 5,023

10,746

-12,275185

-12,090-12,104-12,104

III

15,990

9,590

6,40052

1,418566724

58156922

2,469322

2,1398

-28,326

-22,242

-6,084-479

-391-126-967

-91-149-31

-3,848-608

-1,374-1,866

-31

-9-22

-10,731

-2,752

-2,752

(*)

(*)_1

-7,9795377115

-8,602

21,331

(18)

(18)

(18)

(18)

248(18)

(18)

0s)4,339

(18)

1,905311

18 14,528

1,767

-12,652316

-12,336-12,367-12,367

IV

17,042

9,592

7,45091

1,247393708

7155254

3,7681,1952,531

42

-31,416

-25,164

-6,252-512

-426-114-950

-97-180-21

-3,951-315

-1,616-2,020

-21

-9-12

-13,032

1,392

1,392

3

31

-14,427-1,495

-35-199

-12,698

26,239

(18)

(18)

(18)

(18)

-43C8)(18)

(18)

4,542(18)

1,405215

18 20,120

1,187

-15,5721,199

-14,373-14,394-14,394

1989

I'

17,788

10,267

7,52166

1,380542659

6345807

3,654505

3,12524

-28,986

-22,828

-6,158-482

-408-99-916

-100-1-22

-4,130-165

-1,802-2,163

-40

-9-31

-13,622

-192

-192

(*)

(*)

-13,430179150

-213-13,545

15,178

(18)

(18)

(18)

(18)

-80(18)

(18)

(18)

2,624(18)

123297

18 12,213

9,681

-12,5611,364

-11,198-11,238-11,238

11'

18,480

11,059

7,42155

1,318618701

6265893

3,51230

3,43349

-29,951

-23,366

-6,585-500

-613-148-909

-102-158-16

-4,139-65

-1,842-2,232

-22

-8-13

16,287

-7,146

-7,146

(*)

(*)

23,434-5901,914n.a.

22,110

-21,207

0s)(.8)

(18)

(18)

79(IS)

(18)

(IS)

1,729(18)

1,636n.a.

18 -24,650

16,411

-12,307837

-11,470-11,492-11,492

Line

1

2

34

567

8910

11121314

15

16

17

1819

202122

232425

26272829

30

31

323334

35

3637383940

41424344

4546474849

50

51525354555657

585960616263

64

65

6667686970



Table 10.—U.S. International

[Millions

Line

1

2

34

567

89

10

11121314

15

16

17

1819

202122

232425

26272829

30

31

323334

35

3637383940

41424344

4546474849

50

51525354555657

58596061626S

64

65

6667686970

(Credits +; debits -) '

Exports of goods and services2

Merchandise, adjusted, excluding military 3 ... .

Services4 . . .Transfers under U.S. military agency sales contracts

TravelPassenger faresOther transportation ,

Royalties and license fees56

Other private services6

Receipts of income on U S assets abroadDirect investment .Other private receiptsU.S. Government receipts

Transfers of goods and services under U.S. military grant programs, net



Services'* . . . . >Direct defense expenditures . . . . ,

Travel

U S Government miscellaneous services .

Payments of income on foreign assets in the United StatesDirect investment < . .Other private payments .. •U S Government payments .

U.S. military grants of goods and services, net

Unilateral transfers (excluding military grants of goods and services) net

U S Government oensions and other transfersPrivate remittances and other transfers


Gold . . .

Foreian currencies

U S Government assets other than official reserve assets net . .U S credits and other long-term assets .Repayments on U S credits and other long-term assets 8

U S foreign currency holdings and U S short-term assets net ,

U S orivate assets netDirect investment

U S claims on unaffiliated foreigners reported by U S nonbanking concerns . . . . .U S claims reported by U S banks not included elsewhere

Foreign assets in the United States net (increase/capital inflow (+))

Foreign official assets in the United States net .

U S Treasury securities 9 ..Other 10

Other U S Government liabilities u . . .U S liabilities reported by U S banks not included elsewhere .Other foreign official assets n .

Other foreign assets in the United States, netDirect investment . .U S Treasury securities ... . . ...U S securities other than U S. Treasury securitiesU.S liabilities to unaffiliated foreigners reported by U.S nonbanking concerns


Statistical discrepancy, and transfers of funds between foreign areas, net (sum of above items with sign reversed) .....

Memoranda:Balance on merchandise trade (lines 2 and 17)

Balance on current account dines 68 and 31V3 ' '

Australia

13,343

6,804

6,539967

702481238

315486

5

3,3452,862

47410

-6,011

-3,516

-2,495-54

-781-331-420

3-126-34

-752-120-179-453

-75

-18-56

-1,229

31

264

-1,260-1,681

-225-113

760

4,345

(")(1S)(18)

(")-467

(18)

(18)

(18)

532(18)

6g574

18 3,638

-10,373

3,2884,0447,3327,2587,258

1988

I

2,494

1,335

1,159196

1356963

60123(*)

513370141

2

-1,419

-969

-450-15

-160-75

-115

-1-32-11

-4270

-40-72

-18

-5-14

1,014

13

58

1,00014

34863

575

749

8(18)

(.8)

-26(18)

(18)

(18)

2€5(18)

17899

18 233

-2,819

366709

1,0751,0571,057

II

3,271

1,529

1,742235

14212462

72115

1

991893953

-1,419

-899

-520-10

-150-77

-106

3-32-5

-144-18-39-87

-16

-5-12

-1,149

6

8—2

-1,154-842-72-44

-197

3,088

(18)

(IS)(18)(18)

-138(18)

(18)

(18)

-135(18)

-46264

18 3,143

-3,775

6301,2221,8521,8361,836

III

3,295

1,736

1,559293

21514456

80121(*)

651531118

2

-1,553

-792

-761-17

-237-95-98

-1-32-5

-275-83-49

-143

-20

-5-15

58

3

5-2

54-482

706

461

1,032

8(18)

-ffi(18)

(»)

(18)

66

$211

»951

-2^12

944798

1,7421,7231,723

IV

4,283

2,204

2,079242

21014458

103127

4

1,1911,068

1203

-1,620

-856

-764-12

-234-84

-101

2-30-13

-292-90-51

-151

-20

-5-16

-1,152

8

8(*)

-1,160-372-571-138-79

-525

(18)(18)

(18)(18)

-121(.8)

(18)

(18)

336(18)

-51

"His"

-966

1,3481,3152,6632,6432,643

1989

I-

2,847

1,796

1,051112

18812150

78132(*)

369229139

2

-1,475

-863

-612-14

-141-71

-113

1-46-11

-218-27-57

-134

-19

-5-14

-387

7

52

-395-2110898

-580

-517

(18)

(18)(18)

(18)

-42(18)

(18)

C8)-338

(18)

135140

18 -413

-448

933439

1,3721,3531,353

UP

2,993

1,941

1,052104

16915663

89123(*)

348174171

3

-1,664

-957

-707-14

-183-66

-116

1-38-10

-282-45-68

-169

-21

-5-5

-12

17

8

8

9-66

-304n.a.379

763

(18)

<;:>(18)

-63(18)

(18)

(18)

460(")70

n.a."296

-2,087

984344

1,3281,3121,307




Transactions, by Area—Continued

of dollars]

Other countries in Asia and Africa

1988

102,829

67,925

34,9044,741

3,336781

4,903

7126,187333

13,9116,2703,6733,968

53

-138,468

-113,004

-25,464-1,805

-5,843-1,485-4,179

-107-1,008-777

-10,259196

-4,198-6,257

-53

-9,581

-7,432-349

-1,801

-7,165

3,059-4,3277,149237

-10,225-2,037

495-307

-8,376

10,450

(18)

C8)(18)

(18)

-563(18)

(18)

(")1,496(18)

8635

18 9,396

41,934

-45,0799,441

-35,638-37,787-45,219

1988

I

24,926

15,499

9,4271,189

409107

1,191

1541,85953

4,4641,601818

2,045

24

-32,016

-26,386

-5,630-404

-1,089-351

-1,015

-21-218-188

-2,344-17-968

-1,359

-24

-2,278

-1,614-83-582

139

-1,424-2,025

430171

1,564-872-11121

2,325

400

e8)(18)

(18)

(18)

123(18)

(18)

(18)

-352C8)

-410-527

18 1,566

8,830

-10,8873,797-7,091-7,755-9,369

II

25,478

17,123

8,3551,360

859215

1,291

1721,189106

3,1631,658787718

1

-33,734

-27,122

-6,612-458

-1,793-344

-1,112

-33-230-177

-2,46685

-991-1,560

-1

-1,758

-1,323-95-340

-3,787

-486-1,228

69746

-3,302-58162

-166-2,617

-2,260

<::>(18)

(18)

-400(18)

(18)

(18)

-190(18)

156217

18 -2,044

16,062

-9,9991,743

-8,257-8,691-10,014

m

26,615

17,500

9,1151,250

1,231317

1,224

1741,53674

3,3081,622973713

4

-37,093

-30,270

-6,823-459

-1,569-395

-1,063

-41-268-212

-2,817-19

-1,053-1,745

-4

-2,139

-1,590-86-464

-900

2,307-6402,853

93

-3,207-837547

-195-2,721

3,749

(18)

83(18)

('")

(18)

418(18)

464180

18 2,783

9,769

-12,7702,292

-10,479-11,028-12,618

IV

25,811

17,803

8,008942

837142

1,197

2121,603100

2,9761,3891,095492

24

-35,624

-29,226

-6,398-485

-1,392-395-988

-12-293-201

-2,632147

-1,186-1,593

-24

-3,406

-2,905-86-415

-2,617

2,66334

3,169-73

-5,280253

-103-67

-5,363

8,562

(18)

(18)

(18)

-S3(18)

(18)

(18)

1,620(18)

-124165

18 7,091

7,274

-11,4231,610

-9,813-10,314-13,218

1989

I'

25,877

17,593

8,284898

505146

1,242

1852,151

59

3,0991,6011,123375

4

-34,123

-27,949

-6,174-456

-1,052-348-992

' -5-284-198

-2,83992

-1,181-1,750

-4

-2,422

-1,735-88-600

4,439

549-4239656

3,891-93115235

4,635

8,602

(,8)

(18)

(18)

(18)

123(18)

(18)

('")880(18)

377694

18 6,528

-2,373

-10,3562,110-8,246-8,934-10,668

II"

27,434

19,058

8,3761,009

1,022259

1,321

1951,45174

3,0461,5861,166294

6

-38,521

-31,135

-7,386-455

-1,874-409

-1,049

-5-298-205

-3,09239

-1,373-1,758

-6

-1,975

-1,545-86-344

-5,222

-7-4124015

-5,215-698239n.a.

-4,756

8,238

(18)

(18)

(18)

(.8)

201(18)

(18)

(18)

-299(.8)

698n.a.

18 7,638

10,047

-12,077990

-11,087-11,517-13,062

International organizations and unallocated 16

1988

5,754

5,754

1,603

2,1444

2,003258

1,119626

-2,972

-2,972

-70-1,899

-425-1

-577

427-150

-1,276

-799- 65-12

2,986

1,498

4741,025

-968-969

1

2,456176760-3

1,523

15

(*)

(*)

15

(18)

-742-34

18 791

-4,508

2,7822,7822,3061,506

1988

I

1,287

1,287

333

532(*)

422-5246181

-720

-720

-21-444

-98

-157

-104-53

-143

-127-16

1,771

602

155446

-189-189

1

1,35863581

1,235

262

(*)

(*)

262

(18)

-86511

18 1,116

-2,457

567567551424

II

1,465

1,465

449

5211

49564297134

-790

-790

-13-537

-104-1

-134

-105-29

-215

-107-96-12

-57

249

18069

-245-245

-6116

213-1

-289

4,211

(*)

(*)

4,211

(18)

18859

18 3,964

-4,614

675675568461

III

1,464

1,464

403

5471

51392270152

-760

-760

-18-478

-110

-155

-113-42

-321

-265-56

-2,854

167

-35202

-232-232

-2,790106178

-3,074

-2,106

-2,106

(18)

146-153

18 -2,099

4,578

704704648383

IV

1,538

1,538

419

5451

573107306160

-703

-703

-18-440

-114

-131

-105-26

-596

-300-296

4,127

481

173307

-302-302

3,949-9310_o

3,651

-2,352

-2,352

(18)

-21149

18 -2, 190

-2,014

835835538238

1989

I'

1,393

1,393

406

572(*)

416-15245186

-719

-719

-22t84

-117

-96

-67-29

-182

-154-28

269

127

-188316

-191-191

332107153567

165

(*)

(*)

165

(18)

-18545

18 305

-926

674674646492

II'

1,482

1,482

434

sii1

53634322180

-739

-739

-14-494

-117-1

-113

-84-29

-182

-143-28-12

-872

-91

68-159

-191-191

-591-73352n.a.

-870

1,134

1,134

(18)

221n.a.

18 913

-822

743743

• 704561

Line

1

2

34

567

8910

11121314

15

16

17

1819

202122

232425

26272829

30

31

323334

35

3637383940

41424344

4546474849

50

51525354555657

585960616263

64

65

6667686970



Footnotes to U.S. International Transactions Tables 1-10General notes for all tables: p Preliminary. *Less than $500,000 (±) n.a. Not available.

Table 1:1. Credits, +: Exports of'goods and services; unilateral transfers to United States; capital

inflows (increase in foreign assets (U.S. liabilities) or decrease in U.S. assets); decrease in U.S.official reserve assets; increase in foreign official assets in the United States.

Debits, -: Imports of goods and services; unilateral transfers to foreigners; capital outflows(decrease in foreign assets (U.S. liabilities) or increase in U.S. assets); increase in U.S. officialreserve assets; decrease in foreign offical assets in the United States.

2. Excludes transfers of goods and services under U.S. military grant programs (see line 15).3. Excludes exports of goods under U.S. military agency sales contracts identified in Census

export documents, excludes imports of goods under direct defense expenditures identified in Censusimport documents, and reflects various other adjustments (for valuation, coverage, and timing) ofCensus statistics to balance of payments basis; see table 2.

4. Includes some goods: Mainly military equipment in line 4; major equipment, other materials,supplies, and petroleum products purchased abroad by U.S. military agencies in line 19; and fuelspurchased by airline and steamship operators in lines 7 and 22.

5. Beginning in 1982, line 8 and line 23 are redefined to include only net receipts and paymentsfor the use or sale of intangible property rights. Other services are reclassified to lines 9 and 24.

6. Affiliated and unaffiliated transactions, previously shown separately, have been combined.7. For all areas, amounts outstanding June 30,1989, were as follows in millions of dollars: Line

36, 60,503; line 37,11,063; line 38, 9,034; line 39, 8,888; line 40, 31,517. Data are preliminary.8. Includes sales of foreign obligations to foreigners.9. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible

and nonconvertible bonds and notes.10. Consists of U.S. Treasury and Export-Import Bank obligations, not included elsewhere, and

of debt securities of U.S. Government corporations and agencies.11. Includes, primarily, U.S. Government liabilities associated with military agency sales con-

tracts and other transactions arranged with or through foreign official agencies; see table 4.12. Consists of investments in U.S. corporate stocks and in debt securities of private corporations

and State and local governments.13. Conceptually, the sum of lines 70 and 64 is equal to "net foreign investment" in the national

income and product accounts (NIPA's). However, the foreign transactions account in the NIPA's(a) includes adjustments to the international transactions accounts for the treatment of gold, (b)excludes capital gains and losses of foreign affiliates of U.S. parent companies from the NIPA's mea-sure of income receipts from direct investment abroad, and from the corresponding income paymentson direct investment in the United States, (c) includes an adjustment for the different geographicaltreatment of transactions with U.S. territories and Puerto Rico, and (d) includes services furnishedwithout payment by financial intermediaries, except life insurance carriers and private noninsuredpension plans. In addition, for NIPA purposes, U.S. Government interest payments to foreignersai'e excluded from "net exports of goods and services" but included with transfers in "net foreigninvestment." A reconciliation of the balance on goods and services from the international accountsand the NIPA net exports appears in the "Reconciliation and Other Special Tables" section in thisissue of the SURVEY OF CURRENT BUSINESS. A reconciliation of the other foreign transactions in thetwo sets of accounts appears in table 4.5 of the full set of NIPA tables (published annually in theJuly issue of the SURVEY).

Table 2:1. Exports, Census basis, represent transaction values, f.a.s. U.S. port of exportation; imports,

Census basis, represent Customs values (see Technical Notes, June 1982 SURVEY). Both unadjustedand seasonally adjusted data have been prepared by BEA from "actual" and "revised statistical"month data supplied by the Census Bureau (see Technical Notes, December 1985 SURVEY). The sea-sonally adjusted data are the sum of seasonally adjusted five-digit end-use categories (see TechnicalNotes in the June 1980 SURVEY and in the June 1988 SURVEY).

2. Adjustments in lines A5 and A13, B12, B47, and B82 reflect the Census Bureau's reconcilia-tion of discrepancies between the merchandise trade statistics published by the United States andthe counterpart statistics published in Canada. These adjustments are distributed to the affectedend-use categories in section C. Beginning in 1986, estimates for undocumented exports to Canada,the largest item in the U.S.-Canadian reconciliation, are included in Census basis data shown inline A-l.

3. Exports of military equipment under U.S. military agency sales contracts with foreign gov-ernments (line A6), and direct imports by the Department of Defense and the Coast Guard (lineA14), to the extent such trade is identifiable from Customs declarations. The exports are includedin tables 1 and 10, line 4 (transfers under U.S. military agency sales contracts); the imports areincluded in tables 1 and 10, line 19 (direct defense expenditures).

4. Addition of electrical energy; deduction of exposed motion picture film for rental rather thansale; net change in stock of U.S.-owned grains in storage in Canada; coverage adjustments forspecial situations in which shipments were omitted from Census data; deduction of the value ofrepairs and alterations to foreign-owned equipment shipped to the United States for repair; andthe inclusion of fish exported outside of U..S. customs area.

5. Deduction of foreign charges for repair of U.S. vessels abroad, which are included in tables1 and 10, line 21 (other transportation); coverage adjustments for special situations in which ship-ments were omitted from Census data; and the deduction of the value of repairs and alterations toU.S.-owned equipment shipped abroad for repair.

6. Beginning in 1986, New Zealand and South Africa are included in "Other countries in Asiaand Africa," with New Zealand included as part of "Asia" and South Africa as part of "Africa."

7. Annual and unadjusted quarterly data shown in this table correspond to country and areadata in table 10, lines 2 and 17. Trade with international organizations includes purchases ofnonmonetary gold from the International Monetary Fund, transfers of tin to the International TinCouncil (ITC), and sales of satellites to Intelsat. The memoranda are defined as follows: Industrialcountries: Western Europe, Canada, Japan, Australia, New Zealand, and South Africa; Membersof OPEC: Venezuela, Ecuador, Iraq, Iran, Kuwait, Saudi Arabia, Qatar, United Arab Emirates, In-donesia, Algeria, Libya, Nigeria, and Gabon; Other countries: Eastern Europe, Latin America andOther Western Hemisphere, and other countries in Asia and Africa, less OPEC. Before 1984, com-plete geographic area detail was not available for some balance of payments adjustments. Therefore,the detail shown does not always sum to the values shown for the area aggregates. For all years,"Asia" and "Africa" exclude certain Pacific Islands and unidentified countries included in "Othercountries in Asia and Africa."

8. Includes nuclear fuel materials and fuels.

Table 3:1. Insurance receipts (exports) are published net of losses paid, and payments (imports) are

published net of losses recovered.2. Other unaffiliated services receipts (exports) include mainly expenditures of foreign govern-

ments and international organizations in the United States. Payments (imports) include mainlywages of foreign residents temporarily employed in the United States and Canadian and Mexicancommuters in U.S. border areas.

Table 4:1. Expenditures to release foreign governments from their contractual liabilities to pay for

military goods and services purchased through military sales contracts—first authorized (for Is-rael) under Public Law 93-199, section 4, and subsequently authorized (for many recipients) undersimilar legislation—are included in line A3. Deliveries against these military sales contracts are

included in line CIO; see footnote 2. Of the line A3 items, part of these military expenditures is

rlied in lines A40 and A43 to reduce short-term assets previously recorded in lines A38 and C8;application of funds is excluded from lines C3 and C4. A second part of line A3 expenditures

finances future deliveries under military sales contracts for the recipient countries and is applieddirectly to lines A39 and C9. A third part of line A3, disbursed directly to finance purchases byrecipient countries from commercial suppliers in the United States, is included in line A34. Afourth part of line A3, representing dollars paid to the recipient countries to finance purchasesfrom countries other than the United States, is included in line A45.

2. Transactions under military sales contracts are those in which the Department of Defensesells and transfers military goods and services to a foreign purchaser, on a cash or credit basis.Purchases by foreigners directly from commercial suppliers are not included as transactions undermilitary sales contracts. The entries for the several categories of transactions related to militarysales contracts in this and other tables are partly estimated from incomplete data.

3. The identification of transactions involving direct dollar outflows from the United States ismade in reports by each operating agency.

4. Line A35 includes foreign currency collected as interest and line A40 includes foreign currencycollected as principal, as recorded in lines A13 and A14, respectively.

5. Includes (a) advance payments to the Department of Defense (on military sales contracts)financed by loans extended to foreigners by U.S. Government agencies and (b) the contraentryfor the part of line CIO that was delivered without prepayment by the foreign purchaser. Alsoincludes expenditures of appropriations available to release foreign purchasers from liability tomake repayment.

6. Includes purchases of loans from U.S. banks and exporters and payments by the U.S. Gov-ernment under commercial export credit and investment guarantee programs.

7. Excludes liabilities associated with military sales contracts financed by U.S. Governmentgrants and credits and included in line C2.

8. Excludes return export from the United States, at a contractual replacement value of $48million in 1988:111, of leased aircraft originally reported in table 1, line 19. Transactions recordingthe offsets for this leased property are included in line C15.

Table 5:1. Also included in line 4.2. Acquisition of equity holdings in existing and newly established companies, capital contribu-

tions, capitalization of intercompany debt, and other equity contributions.3. Sales, liquidations, and other dispositions of equity holdings, total and partial.4. Petroleum includes, and manufacturing and "other" industries exclude, the exploration,

development, and production of crude oil and gas, and the transportation, refining, and marketingof petroleum products, exclusive of petrochemicals. "Other" industries includes wholesale trade;banking; finance (except banking), insurance, and real estate; services; and other industries—agriculture, forestry, and fishing; mining; construction; transportation, communication, and publicutilities; and retail trade.

5. Also included in line 47.

Table 6:1. Primarily provincial, regional, and municipal.2. Largely transactions by International Bank for Reconstruction and Development (IBRD),

International Development Association (IDA), International Finance Corporation (IFC), Asian De-velopment Bank (ADB), and Inter-American Development Bank (IDE).

3. Estimate for scheduled redemptions and identifiable early retirements. Includes estimatesbased on Canadian statistics for redemptions of Canadian issues held in the United States. Uniden-tified and nonscheduled retirements appear in line 28.

Table 7:1. Primarily mortgages, loans, and bills and notes drawn on foreigners.2. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.3. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.4. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting

countries.

Table 8:1. Includes central governments and their agencies and corporations; state, provincial, and local

governments and their agencies and corporations; and international and regional organizations.2. U.S.-owned banks are mainly U.S.-chartered banks and Edge Act subsidiaries. U.S. brokers'

and dealers' accounts may be commingled in some categories. Foreign-owned banks include U.S.branches and agencies of foreign banks and majority-owned bank subsidiaries in the United States.

3. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.4. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.5. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting

countries.6. Includes Eastern Europe and international and regional organizations.

Table 9:1. Negotiable certificates of deposit issued by banks in the United States are included in banks'

custody liabilities and are separately identified in memorandum line 8. Nonnegotiable certificatesof deposit are included in time deposits.

2. Includes borrowing under Federal funds or repurchase arrangements, deferred credits, andliabilities other than deposits.

3. Mainly negotiable and readily transferable instruments, excluding U.S. Treasury securities.4. Mainly International Bank for Reconstruction and Development (IBRD), International De-

velopment Association (IDA), International Finance Corporation (IFC), Asian Development Bank(ADB), Inter-American Development Bank (IDB), and the Trust Fund of the International MonetaryFund.

5. U.S.-owned banks are mainly U.S.-chartered banks and Edge Act subsidiaries. U.S. brokers'and dealers' liabilities may be commingled in some categories. Foreign-owned banks are U.S.branches and agencies of foreign banks and majoiity-owned bank subsidiaries in the United States.

6. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.7. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.8. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting

countries.9. Includes Eastern Europe and international and regional organizations.

Table 10:For footnotes 1-13, see table 1.14. The "European Communities (12)" includes the "European Communities (6)," United King-

dom, Denmark, Ireland, Greece, Spain, and Portugal.15. The "European Communities (6)" includes Belgium, France, Federal Republic of Germany,

Italy, Luxembourg, Netherlands, European Atomic Energy Community, European Coal and SteelCommunity, and European Investment Bank.

16. Includes, as part of international and unallocated, the estimated direct investment in foreignaffiliates engaged in international shipping, in operating oil and gas drilling equipment that ismoved from country to country during the year, and in petroleum trading.

17. Details not shown separately; see totals in lines 51 and 58.18. Details not shown separately are included in line 63.


Summary National Income and Product Series:Annually, 1929-88, and Quarterly, 1960-88

Table 1.—Gross National Product

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

Year andquarter

1929

19301931193219331934

1935 .1936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959 . .

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

19801981198219831984

198519861987 .1988

1960: IHIllIV

1961: IIIIllIV

1962: IHIllIV

1963: IIIIllIV

1964: IIIIllIV

1965- III . ...IllIV

1966- IIIIllIV

GNP

103.9

91.176.458.556.065.6

72.883.191.385.491.3

100.4125.5159.0192.7211.4

213.4212.4235.2261.6260.4

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

2,732.03,052.63,166.03,405.73,772.2

4,014.94,231.64,524.34,880.6

516.1514.5517.7513.0

517.4527.9538.5551.5

564.4572.2579.2582.8

592.1600.3613.1622.1

636.9645.6656.0660.6

682.7695.0710.7732.0

754.8764.6777.7790.9


Total

77.3

69.960.548.645.851.4

55.862.066.764.167.0

71.080.888.699.5

108.2

119.6143.9161.9174.9178.3

192.1208.1219.1232.6239.8

257.9270.6285.3294.6316.3

330.7341.1361.9381.7409.3

440.7477.3503.6552.5597.9

640.0691.6757.6837.2916.5

1,012.81,129.31,257.21,403.51,566.8

1,732.61,915.12,050.72,234.52,430.5

2,629.02,797.43,010.83,235.1

325.5331.6331.7333.8

334.4339.1341.9349.1

354.0359.7363.7370.2

374.0378.2385.1389.6

398.8406.4414.9417.1

427.6434.4443.4457.4

467.7472.7481.7486.9

Durablegoods

9.2

7.25.53.63.54.2

5.16.36.95.76.7

7.89.76.96.56.7

8.015.820.422.925.0

30.829.929.332.732.1

38.938.239.737.242.8

43.541.947.051.856.8

63.568.570.681.086.2

85.797.6

111.2124.7123.8

135.4161.5184.5205.6219.0

219.3239.9252.7289.1335.5

372.2406.0421.0455.2

43.344.243.742.5

40.041.042.344.3

45.346.647.149.1

50.251.552.253.3

55.456.858.656.6

62.161.963.866.1

69.266.569.169.3

Nondur-able

goods

37.7

34.029.022.722.326.7

29.332.935.234.035.1

37.042.950.858.664.3

71.982.790.996.694.9

98.2109.2114.7117.8119.7

124.7130.8137.1141.7148.5

153.2157.4163.8169.4179.7

191.9208.5216.9235.0252.2

270.3283.3305.1339.6380.9

416.2452.0490.4541.8613.2

681.4740.6771.0816.7867.3

911.2942.0998.1

1,052.3

150.9153.8153.5154.6

156.0156.8157.3159.5

161.5162.9164.5166.4

167.5168.2170.6171.1

175.2178.4182.0183.1

185.6189.1192.8199.9

204.1207.6210.7211.4

Services

30.4

28.826.122.220.120.4

21.322.824.524.425.2

26.228.331.034.337.2

39.745.450.655.558.4

63.269.075.182.188.0

94.3101.6108.5115.7125.0

134.0141.8151.1160.6172.8

185.4200.3216.0236.4259.4

284.0310.7341.3373.0411.9

461.2515.9582.3656.1734.6

831.9934.7

1,027.01,128.71,227.6

1,345.61,449.51,591.71,727.6

131.3133.5134.5136.7

138.4141.2142.3145.3

147.2150.2152.1154.7

156.4158.6162.3165.2

168.2171.2174.3177.4

179.9183.4186.9191.4

194.5198.5202.0206.2


Total

16.7

10.65.91.11.63.5

6.68.7

12.16.79.5

13.418.310.36.27.7

11.331.535.047.136.5

55.160.553.554.954.1

69.772.771.163.680.2

78.277.187.693.199.6

116.2128.6125.7137.0153.2

148.8172.5202.0238.8240.8

219.6277.7344.1416.8454.8

437.0515.5447.3502.3664.8

643.1659.4699.9750.3

88.778.177.468.5

69.574.781.283.0

87.988.089.385.4

88.992.295.795.8

98.298.7

100.0101.6

114.4114.0117.4118.8

128.2129.1127.6129.6

Nonresi-dential

11.0

8.65.32.92.53.3

4.35.87.55.56.1

7.79.76.35.47.4

10.617.323.526.824.9

27.831.831.935.134.7

39.044.547.542.446.3

48.848.352.555.261.4

73.183.584.491.4

102.3

105.2109.6123.0145.9160.6

162.9180.0214.2259.0302.8

322.8369.2366.7356.9416.0

442.9435.2444.3487.2

49.449.648.448.1

47.148.048.349.9

51.052.653.553.0

52.854.355.957.7

58.860.562.563.9

68.671.574.478.0

81.283.484.585.0

Residen-tial

4.0

2.41.8.8.6.9

1.31.72.12.13.0

3.54.12.21.41.4

1.77.8

12.115.614.6

20.518.418.619.421.1

25.023.522.222.728.1

26.326.429.032.132.8

33.130.931.137.741.2

40.555.168.673.364.8

62.381.7

108.6129.2139.1

122.5122:3105.1152.5181.1

188.8217.3226.4232.4

28.426.125.325.3

25.325.526.927.8

28.429.229.229.1

30.232.232.533.7

34.032.832.432.1

33.333.433.032.7

33.231.930.727.9

CBI

1.7

-.4-1.1-2.5-1.6-.7

1.11.32.5— 9

.4

2.24.51.8-.6

-1.0

-1.06.4-.54.7

-3.1

6.810.23.1.4

-1.6

5.74.61.4

-1.55.8

3.12.46.15.85.4

9.914.210.37.99.8

3.17.8

10.519.615.4

-5.616.021.328.613.0

-8.324.0

-24.5-7.167.7

11.36.9

29.330.6

11.02.53.7

-4.9

-2.91.16.05.4

8.66.16.63.3

5.95.67.34.4

5.55.45.25.6

12.59.1

10.08.0

13.813.912.416.7

Net exports

Net

1.1

1.0.5.4.4.6

.1

.1

.41.31.2

1.81.5.2

-1.9-1.7

-.57.8

11.97.06.5

2.24.53.21.32.6

3.05.37.33.31.5

5.97.26.98.2

10.9

9.77.57.45.55.6

8.56.33.2

16.816.3

31.118.81.94.1

18.8

32.133.926.3-6.1

-58.9

-78.0-97.4

-112.6-73.7

4,35.16.57.7

8.37.06.66.9

6.37.67.36.6

6.98.58.09.5

11.510.210.910.9

9.010.89.59.5

8.77.66.47.3

Exports

7.1

5.53.72.52.43.0

3.33.64.74.44.6

5.46.15.04.65.5

7.415.220.317.516.4

14.519.819.218.118.8

21.125.228.224.425.0

29.931.133.135.740.5

42.946.649.554.860.4

68.972.481.4

114.1151.5

161.3177.7191.6227.5291.2

351.0382.8361.9352.5383.5

370.9396.5448.6547.7

28.729.730.630.6

31.130.031.232.0

31.733.633.633.4

33.335.736.037.6

39.939.540.941.8

39.144.243.345.2

45.645.846.648.4

Imports

5.9

4.53.22.12.12.4

3.23.54.33.13.4

3.74.74.86.57.2

7.97.38.3

10.69.8

12.315.316.016.816.3

18.119.920.921.123.5

24.023.926.227.529.6

33.239.142.149.354.7

60.566.178.297.3

135.2

130.3158.9189.7223.4272.5

318.9348.9335.6358.7442.4

448.9493.8561.2621.3

24.424.624.022.9

22.823.124.525.1

25.526.126.326.8

26.427.228.128.2

28.429.229.930.9

30.133.433.835.7

36.938.240.241.0

Governgcxx

Total

8.9

9.59.58.48.3

10.1

10.212.212.113.213.6

14.225.059.988.997.1

83.029.126.432.639.0

38.860.475.882.876.0

75.379.787.395.497.9

100.6108.4118.2123.8130.0

138.6158.6179.7197.7207.3

218.2232.4250.0266.5299.1

335.0356.9387.3425.2467.8

530.3588.1641.7675.0735.9

820.8872.2926.1968.9

97.699.6

102.1103.0

105.3107.1108.7112.5

116.2116.9118.9120.6

122.3121,4124.4127.2

128.5130.2130.1131.0

131.8135.8140.3146.3

150.2155.2162.0167.1

ment purchases of3s and services

Federal

1.5

1.61.71.62.23.2

3.15.14.85.55.2

6.117.052.081.489.4

74.819.213.617.321.1

19.138.652.757.948.4

44.946.450.554.554.6

54.458.264.665.766.4

68.780.492.7

100.1100.0

98.899.8

105.8106.4116.2

129.2136.3151.1161.8178.0

208.1242.2272.7283.5310.5

355.2366.5381.6381.3

53.053.855.355.6

56.057.758.560.4

63.863.965.065.8

66.064.365.567.0

67.067.065.965.7

65.267.169.073.3

75.178.383.185.1

Stateand

local

7.4

7.97.86.76.16.9

7.27.17.37.78.3

8.18.07.87.57.6

8.29.9

12.815.318.0

19.821.823.124.827.7

30.333.336.940.843.3

46.150.253.558.163.5

69.978.287.097.6

107.2

119.4132.5144.2160.1182.9

205.9220.6236.2263.4

' 289.9

322.2345.9369.0391.5425.3

465.6505.7544.5587.6

44.545.846.847.4

49.249.450.252.1

52.453.053.854.8

56.357.158.860.2

61.4, 63.2

64.265.3

66.668.771.473.0

75.176.978.982.0

Finalsales

102.2

91.577.561.057.666.3

71.781.888.786.390.9

98.3121.0157.2193.4212.3

214.4206.0235.7256.9263.4

281.4323.2348.6371.1374.1

400.2423.6449.6458.3490.0

512.3531.4568.5601.1644.4

695.2757.8806.1884.8954.1

1,012.31,094.91,202.31,339.71,457.4

1,604.11,766.81,969.22,221.02,495.2

2,740.33,028.63,190.53,412.83,704.5

4,003.64,224.84,495.04,850.0

505.0512.0514.0517.9

520.4526.7532.5546.2

555.9566.1572.6579.5

586.2594.7605.8617.7

631.5640.2650.8655.0

670.2685.9700.7723.9

741.0750.7765.2774.2

Grossdomestic

pur-chases

102.8

90.175.958.155.765.0

72.783.090.884.090.1

98.7124.1158.8194.6213.0

213.9204.5223.3254.7253.8

286.0329.0348.4370.3370.0

402.9422.9443.7453.5494.3

509.4526.6567.7598.7638.9

695.4764.5809.0887.2958.3

1,007.01,096.41,209.61,342.51,456.5

1,567.41,764.01,988.62,245.62,489.4

2,699.83,018.73,139.73,411.83,831.1

4,092.84,329.04,636.84,954.3

511.8509.4511.2505.3

509.1520.9531,8544.7

558.2564.6571.9576.2

585.2591.9605.2612.6

625.5635.3645.1649.7

673.8684.2701.2722.5

746.1757.0771.3783.6

Percent change frompreceding period

GNP

-12.3-16.2-23.4-4.217.0

11.014.19.8

-6.57.0

10.025.026.621.29.7

.9-.5

10.811.2-.5

10.715.75.55.7

.2

9.05.55.31.38.5

3.93.67.65.67.1

8.59.55.89.38.0

5.48.6

10.012.18.3

8.511.511.713.011.5

8.911.73.77.6

10.8

6.45.46.97.9

11.4-1.2

2.5-3.6

3.58.48.3

10.0

9.75.65.02.5

6.55.78.86.0

9.95.66.62.8

14.17.49.3

12.5

13.15.37.07.0

Finalsales

-10.5-15.2-21.4-5.515.1

8.214.18.4

-2.75.4

8.123.229.923.09.8

1.0-3.914.49.02.5

6.814.87.96.5

.8

7.05.86.11.96.9

4.63.77.05.77.2

7.99.06.49.87.8

6.18.29.8

11.48.8

10.110.111.512.812.3

9.810.55.37.08.5

8.15.56.47.9

7.45.71.63.1

1.94.94.5

10.7

7.37.54.74.9

4.75.97.78.1

9.25.66.82.6

9.69.78.9

13.9

9.85.38.04.8

Grossdomestic

pur-chases

-12.3-15.8-23.4-4.216.7

11.914.29.5

-7.57.3

9.525.728.022.69.5

.4-4.4

9.214.0-.3

12.715.05.96.3-.1

8.95.04.92.29.0

3.13.47.85.56.7

8.89.95.89.78.0

5.18.9-

10.311.08.5

7.612.512.712.910.9

8.511.84.08.7

12.3

6.85.87.16.8

9.6-1.9

1.4-4.5

3.09.68.6

10.1

10.34.75.33.0

6.44.79.35.0

8.76.46.32.9

15.76.3

10.312.7

13.76.07.86.5



Table 1.—Gross National Product—Continued[Billions of dollars; quarterly data are seasonally adjusted at annual rates]

Year andquarter

1967: IIIIIIIV

1968: IIIIllIV

1969: IliIllIV

1970: IIIIllIV

1971: I ...IIIllIV

1972: IIIIII. ..IV

1973: I11HIIV

1974: IIIIllIV

1975- IIIIIIIV

1976: IIIIllIV

1977: I.....IIIllIV

1978: IIIIIIIV

1979- III ...Ill .. ..IV

1980- IIIIllIV.....

1981- I .IIIllIV

1982: IIIIllIV

1983: IIIIllIV

1984: I...IIIllIV

1985: IIIIII...IV

1986: IIIIllIV

1987- IIIIllIV

1988: I.....IIIllIV

GNP

799.7805.9822.9837.1

862.9886.7903.6917.4

941.3955.6975.4983.5

994.21,008.91,027.91,030.9

1,075.21,094.31,113.91,127.3

1,166.51,197.21,223.91,263.5

1,311.61,342.91,369.41,413.3

1,426.21,459.11,489.11,516.8

1,524.61,563.51,627.41,678.2

1,730.91,761.81,794.71,843.7

1,899.11,968.92,031.62,062.4

2,111.42,230.32,289.52,367.6

2,420.52,474.52,546.12,591.5

2.673.02,672.22,734.02,848.6

2,978.83,017.73,099.63,114.4

3,112.63,159.53,179.43,212.5

3,265.83,367.43,443.93,545.8

3,674.93,754.23,807.93,851.8

3,925.63,979.04,047.04,107.9

4,181.34,194.74,253.34,297.3

4,388.84,475.94,566.64,665.8

4,739.84,838.54,926.95,017.3


Total

491.4500.5507.5514.7

532.4545.8561.6570.1

581.7592.7602.7614.3

625.1635.1646.8653.0

671.7685.2696.8712.4

729.3747.0764.8789.2

813.2827.9846.2861.6

880.0907.8935.3943.0

967.4996.6

1,029.61,057.5

1,091.81,111.21,139.81,174.6

1,211.81,239.21,270.21,307.6

1,332.61,391.11,424.61,465.7

1,501.81,537.61,590.01,637.5

1,682.21,688.91,749.31,810.0

1,862.91,896.41,940.91,960.2

1,996.32,023.82,065.62,117.0

2,146.62,213.02,262.82,315.8

2,361.12,417.02,450.32,493.4

2,554.92,599.32,661.42,700.4

2,734.32,761.02,826.02,868.5

2,914.72,989.43,055.93,083.3

3,148.13,204.93,263.43,324.0

Durablegoods

67.871.271.372.2

77.379.383.683.8

85.886.286.486.5

85.486.787.782.9

93.496.298.5

102.2

105.7108.9112.3118,0

126.3125.3125.0122.3

120.2124.3130.2120.3

124.8130.1140.0146.5

156.4158.9162.4168.1

177.0181.9186.5192.6

188.9207.6210.0115.8

215.6214.4223.9221.9

225.0204.9218.7228.5

241.1236.0246.9235.5

245.1248.9252.8263.8

266.7284.5295.2310.0

322.7335.1337.7346.7

361.4367.1387.2373.2

381.8393.6426.4422.0

401.2419.2439.3424.5

446.4454.6452.5467.4

Nondur-able

goods

213.7215.5217.8220.6

227.6232.6238.6241.2

245.6250.2254.2258.7

264.7268.2271.9276.5

278.3282.0284.4288.4

293.1301.5308.4317.4

327.0333.5344.0353.7

365.6376.8388.1393.1

400.5411.2423.2429.9

439.4446.4456.0466.0

477.5485.6491.9506.8

516.4534.4548.5567.9

583.4600.9623.6645.1

662.0671.8686.4705.2

726.6737.3745.7752.7

758.1762.6776.7786.6

791.0810,9827.0837.9

849.9866.9872.8879.6

890.9905.6915.7932.7

939.0935.4941.4952.1

976.4994.3

1,006.01,015.4

1,022.21,042.41,066.21,078.4

Services

209.9213.8218.4221.9

227.5233.8239.3245.1

250.3256.3262.1269.0

275.1280.2287.2293.6

300.0307.0313.9321.7

330.5336.7344.0353.9

359.9369.1377.2385.7

394.2406.7417.0429.7

442.1455.3466.4481.1

495.9505.8521.4540.6

557.4571.7591.7608.2

627.3649.0666.1682.0

702.8722.4742.5770.5

795.1812.2844.2876.3

895.2923.2948.4972.0

993.11,012.21,036.11,066.5

1,088.91,117.61,140.61,167.9

1,188.61,215.11,239.71,267.1

1,302.71,326.61,358.51,394.5

1,413.41,432.01,458.21,494.4

1,537.11,575.81,610.61,643.3

1,679.51,707.91,744.71,778.2


Total

125.5120.6126.5130.1

133.8137.4136.8139.9

151.3151.8158.1151.6

146.2148.2153.5147.3

166.6173.4177.0172.9

188.3199.1205.7214.9

228.0237.8237.2252.3

238.1241.3238.9245.1

204.9204.6229.5239.3

264.6275.8279.6290.6

311.5341.4363.7359.6

379.7420.2424.7442.7

446.9463.2461.5447.8

461.0425.0405.4456.4

506.9515.3535.9504.0

459.5467.8452.2409.6

428.3481.3519.7579.8

663.0664.2670.3661.8

639.3652.3626.7654.1

683.8657.2647.7648.8

673.1684.1692.8749.7

728.8748.4771.1752.8

Nonresi-dential

83.583.984.086.2

90.189.291.095.2

98.8100.9104.5104.9

104.5105.6106.7104.2

106.4109.1110.2112.5

117.7120.5123.0130.7

137.2144.9149.4152.2

154.4159.2163.4165.5

160.5160.0163.4167.5

171.8176.3182.7189.2

200.1209.5218.0229.0

235.0257.3266.8276.9

289.0296.3310.1315.9

326.7314.1319.7330.5

347.8364.5380.2384.5

382.0369.2360.7354.9

340.8344.7358.1383.9

392.7413.2423.3435.0

437.7446.1436.6451.3

439.3434.5431.2435.8

423.9437.5457.0458.6

472.7487.1493.2495.8

Residen-tial

27.030.532.234.6

36.137.137.839.8

41.741.841.839.3

39.538.439.644.3

47.954.058.060.7

65.866.768.373.4

75.973.572.870.9

67.666.166.259.2

56.959.864.368.4

75.979.979.591.3

96.3110.2113.0115.0

118.4128.5133.4136.4

136.0138.7141.7139.8

133.9110.5115.3130.5

131.1128.1120.1109.8

101.7103.6100.5114.7

130.2147.8167.1164.9

176.2184.3182.1181.8

183.8186.7189.4195.5

203.9217.3223.0225.1

223.8227.9226.2227.7

226.1232.1233.2238.4

CBI

15.06.2

10.49.4

7.611.18.04.9

10.89.0

11.97.5

2.24.27.2

-1.2

12.310.38.8-.3

4.811.914.410.8

14.819.315.029.2

16.116.09.3

20.4

-12.5-15.2

1.83.4

16.819.617.410.2

15.121.732.715.6

26.334.424.529.4

21.928.19.7

-7.8

.4

.5-29.6-4.6

28.022.735.79.7

-24.1-5.0-9.0

-59.9

-42.6-11.2-5.531.0

94.166.765.045.0

17.819.5

.77.2

40.75.4

-6.4-12.2

25.418.89.5

63.3

30.029.344.618.7

Net exports

Net

8.07.87.46.4

5.26.15.65.0

5.25.15.36.8

8.19.88.47.5

9.45.76.14.0

2.12.23.84.5

9.513.921.122.5

25.014.610.714.9

29.332.729.432.9

23.620.017.014.7

4.04.25.3

-5.9

-6.61.36.8

15.0

22.715.221.815.4

20.730.146.830.8

38.929.030.936.9

34.742.114.514.1

22.7-2.1

-19.3-25.8

-45.7-62.8-59.3-67.9

-53.1-74.3-81.2

-103.2

-87.1-92.7

-100.8-108.9

-106.0-114.4-115.3-114.6

-82.8-74.9-66.2-70.8

Exports

49.748.949.150.4

52.154.256.856.1

52.461.862.464.9

66.769.969.469.6

71.872.675.369.7

77.877.681.988.2

100.1109.4118.7128.3

141.7151.5152.9159.9

162.0155.4159.0168.9

170.6175.1180.5184.8

186.3194.0195.9190.3

203.8222.1233.2250.9

265.2278.1301.0320.6

346.5348.4350.1358.9

380.7383.4382.3384.8

373.0378.9359.9335.9

343.6344.1357.7364.7

374.3383.2390.8385.7

376.8372.6365.1369.2

395.5390.7397.3402.4

416.5437.4458.0482.6

521.6532.5556.8579.7

Imports

41.641.241.743.9

46.948.151.151.1

47.256.657.058.1

58.660.161.062.2

62.467.069.365.7

75.675.478.183.7

90.695.597.6

105.7

116.8136.9142.2145.1

132.8122.7129.7136.0

147.0155.1163.4170.1

182.3189.8190.6196.2

210.4220.7226.4236.0

242.6262.9279.2305.2

325.8318.3303.3328.1

341.9354.4351.4347.9

338.4336.8345.4321.9

320.9346.2376.9390.5

420.0446.1450.1453.6

429.9446.9446.2472.4

482.7483.4498.0511.3

522.5551.8573.4597.2

604.3607.5623.0650.5


Total

174.8177.0181.4185.8

191.4197.4199.6202.4

203.0206.0209.2210.8

214.7215.7219.1223.1

227.5230.0234.0238.0

246.8248.9249.6254.8

261.0263.3265.0276.8

283.1295.5304.1313.8

323.1329.7338.9348.5

350.9354.9358.2363.8

371.8384.1392.3401.1

405.6417.6433.4444.2

449.2458.6472.8490.7

509.1528.2532.6551.4

570.1577.0591.9613.3

622.1625.7647.1671.8

668.1675.2680.7676.1

696.5735.8746.6764.5

784.4801.7840.2856.7

850.3869.3880.3888.9

906.9916.8933.2947.5

945.7960.1958.6

1,011.4

Federal

90.391.193.995.5

98.0100.9100.8100.8

99.499.6

100.8100.4

100.898.697.398.3

99.298.5

100.4101.3

106.8107.3104.4104.9

106.8105.6103.1110.0

109.8114.6117.8122.6

125.5127.3129.6134.3

132.3134.9137.5140.7

142.7149.9154.3157.6

154.9157.1165.4169.9

172.1173.1178.6188.0

197.0208.9207.2219.3

229.3233.9245.4260.2

262.9259.3275.3293.2

285.5287.7284.9276.1

284.0315.0317.0326.0

336.1339.6368.4376.6

358.5368.7369.9368.8

375.6378.2384.5388.1

374.1377.1367.5406.4

Stateand

local

84.485.987.590.2

93.496.598.8

101.6

103.7106.4108.5110.3

113.9117.1121.8124.8

128.3131.5133.6136.7

140.0141.6145.2149.9

154.2157.7161.9166.8

173.3180.9186.4191.2

197.6202.4209.2214.2

218.6220.0220.8223.0

229.2234.2238.0243.4

250.7260.6268.1274.3

277.1285.4294.2302.7

312.2319.2325.4332.1

340.8343.2346.5353.1

359.2366.4371.8378.7

382.7387.5395.8400.0

412.5420.8429.6438.5

448.3462.1471.8480.1

491.8500.6510.4520.1

531.4538.6548.7559.4

571.6583.0591.0604.9

Finalsales

784.7799.6812.5827.6

855.3875.6895.6912.5

930.5946.6963.5976.0

992.01,004.61,020.71,032.1

1,062.91,084.01,105.11,127.6

1,161.71,185.31,209.51,252.7

1,296.81,323.61,354.41,384.1

1,410.11,443.21,479.81,496.5

1,537.11,578.71,625.51,674.8

1,714.11,742.21,777.21,833.6

1,884.11,947.21,998.92,046.8

2,085.12,195.92,265.02,338.2

2,398.72,446.42,536.42,599.3

2,672.52,671.72,763.62,853.3

2,950.82,995.03,064.03,104.7

3,136.73,164.53,188.43,272.4

3,308.43,378.63,449.43,514.8

3,580.83,687.43,742.93,806.8

3,907.73,959.54,046.34,100.7

4,140.64,189.34,259.84,309.4

4,363.44,457.14,557.14,602.5

4,709.84,809.24,882.34,998.7

Grossdomestic

pur-chases

791.7798.1815.5830.6

857.6880.7898.0912.4

936.1950.5970.0976.7

986.0999.0

1,019.51,023.5

1,065.81,088.61,107.81,123.3

1,164.41,195.01,220.01,259.0

1,302.11,329.01,348.31,390.7

1,401.21,444.61,478.41,502.0

1,495.31,530.81,598.01,645.3

1,707.31,741.91,777.61,829.0

1,895.11,964.72,026.32,068.3

2,117.92,228.92,282.72,352.6

2,397.92,459.32,524.32,576.1

2,652.32,642.12,687.22,817.8

2,939.92,988.73,068.83,077.5

3,077.93,117.33,164.93,198.5

3,243.13,369.53,463.13,571.6

3,720.63,817.03,867.23,919.7

3,978.74,053.34,128.24,211.2

4,268.44,287.54,354.14,406.2

4,494.84,590.34,681.94,780.4

4,822.54,913.44,993.15,088.1


GNP

4.53.18.77.1

12.911.57.86.3

10.86.28.53.4

4.46.07.71.2

18.37.37.44.9

14.711.09.2

13.6

16.19.98.1

13.5

3.79.68.57.7

2.110.617.413.1

13.27.37.7

11.4

12.615.513.46.2

9.824.511.014.4

9.29.2

12.17.3

13.2-.19.6

17.9

19.65.3

11.31.9

— 26.22.54.2

6.813.09.4

12.4

15.48.95.84.7

7.95.67.06.2

7.31.35.74.2

8.88.28.49.0

6.58.67.57.5

Finalsales

5.57.86.67.6

14.19.89.57.8

8.17.17.35.3

6.75.26.64.5

12.58.28.08.4

12.78.48.4

15.1

14.88.59.69.1

7.79.7

10.54.6

11.311.312.412.7

9.76.78.3

13.3

11.514.111.19.9

7.723.013.213.6

10.88.2

15.510.3

11.7-.1

14.513.6

14.46.19.55.4

4.23.63.1

11.0

4.58.88.67.8

7.712.56.27.0

11.05.49.15.5

3.94.86.94.7

5.18.99.34.0

9.78.76.29.9

Grossdomestic

pur-chases

4.23.39.07.6

13.711.28.16.6

10.86.38.52.8

3.95.48.51.6

17.68.87.25.7

15.510.98.6

13.4

14.48.55.9

13.2

3.113.09.76.5

-1.89.8

18.712.4

15.98.48.5

12.1

15.315.513.18.6

9.922.710.012.8

7.910.611.08.5

12.4-1.5

7.020.9

18.56.8

11.21.1

.15.26.24.3

5.716.511.613.1

17.810.85.45.5

6.27.77.68.3

5.51.86.44.9

8.38.88.28.7

3.67.86.67.8

NOTE.—GNP=Gross national product; CBI=Change in business inventories.



Table 2.—Gross National Product in Constant Dollars

[Billions of 1982 dollars; quarterly data are seasonally adjusted at annual rates]

Year andquarter

1929

1930 . .1931....19321933 .1934

1935 . . ..1936193719381939

19401941194219431944

19451946194719481949

19501951195219531954.

19551956195719581959

I9601961196219631964 .

19651966196719681969

19701971197219731974 „...,

19751976197719781979

19801981 ..1982 .19831984 ...

1985198619871988

1960: IIIIIIIV

1961: IIIIllIV

1962: IIIIIIIV

1963: IIIIllIV

1964: IIIIllIV

1965: IIIIllIV

1966: IIIIllIV

1967: IIIIllIV

GNP

709.6

642.8588.1509.2498.5536.7

580.2662.2695.3664.2716.6

772.9909.4

1,080.31,276.21,380.6

1,354.81,096.91,066.71,108.71,109.0

1,203.71,328.21,380.01,435.31,416.2

1,494.91,525.61,551.11,539.21,629.1

1,665.31,708.71,799.41,873.31,973.3

2,087.62,208.32,271.42,365.62,423.3

2,416.22,484.82,608.52,744.12,729.3

2,695.02,826.72,958.63,115.23,192.4

3,187.13,248.83,166.03,279.13,501.4

3,618.73,717.93,853.74,024.4

1,671.61,666.81,668.41,654.1

1,671.31,692.11,716.31,754.9

1,777.91,796.41,813.11,810.1

1,834.61,860.01,892.51,906.1

1,948.71,965.41,985.21,993.7

2,036.92,066.42,099.32,147.6

2,190.12,195.82,218.32,229.2

2,241.82,255.22,287.72,300.6


Total

471.4

439.7422.1384.9378.7390.5

412.1451.6467.9457.1480.5

502.6531.1527.6539.9557.1

592.7655.0666.6681.8695.4

733.2748.7771.4802.5822.7

873.8899.8919.7932.9979.4

1,005.11,025.21,069.01,108.41,170.6

1,236.41,298.91,337.71,405.91,456.7

1,492.01,538.81,621.91,689.61,674.0

1,711.91,803.91,883.81,961.02,004.4

2,000.42,024.22,050.72,146.02,249.3

2,354.82,446.42,513.72,598.4

997.11,009.81,005.71,007.8

1,009.51,023.51,024.61,042.9

1,053.61,063.61,072.81,085.8

1,094.1,100.2,115.5,123.6

,145.2,164.4,184.8,188.0

1,208.21,221.71,242.31,273.2

1,287.61,293.11,305.51,309.5

1,319.41,336.51,343.31,351.5

Durablegoods

40.3

31.927.521.020.723.4

28.935.937.730.435.7

40.646.231.328.126.3

28.747,856.561.767.8

80.774.773.080.281.5

96.992.892.486.996.9

98.093.6

103.0111.8120.8

134.6144.4146.2161.6167.8

162.5178.3200.4220.3204.9

205.6232.3253.9267.4266.5

245.9250.8252.7283.1323.1

355.1384.4389.6413.6

96.999.998.796.4

91.291.893.797.8

99.9102.0103.1106.8

109.2111.2112.9113.9

118.1120.7124.2120.3

130.7131.2135.9140.8

147.3140.9144.8144.5

142.1148.4147.1147.2

Nondur-able

goods

211.4

203.1201.7187.0181.8192.4

201.5224.3232.8235,4248.0

259.4275.6279.1284.7297.9

323.5344.2337.4338.7342.3

352.8362.9376.6388.2393.8

413.2426.9434.7439.9455.8

463.3470.1484.2494.3517.5

543.2569.3579.2602.4617.2

632.5640.3665.5683.2666.1

676.5708.8731.4753.7766.6

762.6764.4771.0800.2825.9

847.4878.1890.4904.5

460.7465.9463.1463.6

465.3470.4469.2475.5

480.2481.3485.7489.7

492.4492.2495.9496.5

505.1514.6524.4526.0

531.2536.1544.7560.8

563.4568.6573.6571.5

576.3579.1578.7582.7

Services

219.7

204.8193.0176.9176.2174.7

181.7191.4197.4191.3196.7

202.7209.3217.2227.2232.9

240.5262.9272.6281.4285.3

299.8311.1321.9334.1347.4

363.6380.1392.6406.1426.7

443.9461.4481.8502.3532.3

558.5585.3612.3641.8671.7

697.0720.2756.0786.1803.1

829.8862.8898.5939.8971.2

991.91,009,01,027.01,062.71,100.3

1,152.31,183.81,233.71,280.2

439.6444.1443.9447.9

453.0461.3461.7469.7

473.6480.3484.0489.3

492.6496.7506.7513.1

522.0529.1536.1541.8

546.3554.4561.7571.7

576.9583.6587.1593.4

601,0609.1617.5621.6


Total

139.2

97.560.222.622.735.3

60.982.199.963.186.0

111.8138.876.750.456.4

76.5178.1177.9208.2168.8

234.9235.2211.8216.6212.6

259.8257.8243.4221.4270.3

260.5259.1288.6307.1325.9

367.0390.5374.4391.8410.3

381.5419.3465.4520.8481.3

383.3453.5521.3576.9575.2

509.3545.5447.3504.0658.4

637.0639.6674.0715.8

288.7261.4258.3233.6

238.3249.1270.5278.4

287.7291.2294.7280.7

291.9306.9315.6314.0

324.7323.6324.5330.8

362.1364.3369.9371.8

396.9390.9389.1385.2

368.7361.7378.8388.4

Nonresi-dential

93.0

76.949.429.625.832.4

40.054.465.548.853.2

65.076.647.439.452.6

74.2105.5121.7127.4114.8

124.0131.7130.6140.1137.5

151.0160.4161.1143.9153.6

159.4158.2170.2176.6194.9

227.6250.4245.0254.5269.7

264.0258.4277.0317.3317.8

281.2290.6324.0362.1389.4

379.2395.2366.7361.2425.2

453.5438.4455.5493.8

161.1161.4157.7157.6

155.3157.0158.0162.6

165.5171.3173.4170.5

168.9174.3179.4183.9

186.5192.3197.9202.9

214.7224.1231.1240.6

247.9251.2252.9249.7

244.5244.3243.4247.8

Residen-tial

35.4

21.517.99.47.7

10.5

14.718.720.220.428.9

32.534.417.310.49.0

10.744.757.268.663.6

86.772.671.273.879.8

92.484.479.381.0

100.2

93.393.6

102.2113.9115.3

114.2103.2100.6116.2115.4

109.3141.3166.6163.4130.2

114.9140.8168.1178.0170.8

137.0126.5105.1149.3170.9

174.4195.7194.8194.1

100.992.789.889.9

90.290.595.498.4

100.2103.1102.9102.7

106.'l114.0116.0119.4

121.3116.0112.9111.0

115.0116.4113.3111.9

113.3105.8102.391.4

87.699.3

104.3111.3

CBI

10.8

-.9-7.1

-16.4-10.7-7.6

6.29.0

14.1-6.0

3.9

14.427.812.0

.7-5.2

-8.427.9-1.012.3-9.7

24.230.810.02.8

-4.8

16.312.93.0

-3.416.5

7.77.3

16.216.615.7

25.236.928.821.025.1

8.219,621.840.033.3

-12.822.129.136.815.0

-6.923.9

-24.5-6.462.3

9.15.6

23.727.9

26.77.3

10.8-13.9

-7.11.7

17.117.4

22.016.718.47.5

17.018.620.210.7

16.915.313.816.9

32.323.925.419.2

35.733.833.944.0

36.618.131.129.3

Net exports

Net

4.7

2.3-1.0-.5

-1.4.1

-5.9-4.2

— 3e!o6.1

8.23.9

-7.7-23.0-23.8

-18.927.042.419.218.8

4.714.66.9

-2.72.5

04.37.0

-10.3-18.2

-4.0-2.7-7.5-1.9

5.9

-2.7-13.7-16.9-29.7-34.9

-30.0-39.8-49.4-31.5

.8

18.9-11.0-35.5-26.8

3.6

57.049.426.3

-19.9-84.0

-104.3-129.7-115.7-74.9

-9.4-6.9-2.4

2.6

3.8-3.0-5.4-6.0

-9.4-5.2-6.5-9.0

-6.6-1.4-2.6

3.0

9.74.85.63.7

-3.0-.4

-4.3-3.2

-7.9-11.6-18.2-17.2

-15.5-16.1-13.5-22.5

Exports

42.1

35.629.323.222.724.7

26.628.435.734.136.2

40.042.029.125.127.3

35.269.082.366.265.0

59.272.070.166.970.0

76.987.994.982.483.7

98.4100.7106.9114.7128.8

132.0138.4143.6155.7165.0

178.3179.2195.2242.3269.1

259.7274.4281.6312.6356.8

388.9392.7361.9348.1371.8

367.2397.1450.9530.1

95.098.099.9

100.5

102.196.9

100.8102.9

102.3108.9108.8107.5

107.3114.7115.8120.9

128.0126.0129.6131.5

120.1135.8132.7139.3

138.4136.9137.8140.5

144.0142.3142.7145.2

Imports

37.4

33.330.423.724.224.6

32.532.535.928.130.1

31.738.236.948.051.1

54.142.039.947.146.2

54.657.463.369.767.5

76.983.687.992.8

101.9

102.4103.3114.4116.6122.8

134.7152.1160.5185.3199.9

208.3218.9244.6273.8268.4

240.8285.4317.1339.4353.2

332.0343.4335.6368.1455.8

471.4526.9566.6605.0

104.3104.9102.397.9

98.399.9

106.2109.0

111.7114.1115.3116.5

113.9116.1118.5117.9

118.3121.3124.0127.8

123.1136.3137.0142.5

146,3148.5155,9157.8

159.5158.5156.2167.7


Total

94.2

103.3106.8102.298.5

110.7

113.0132.5127.8137.9144.1

150.2235.6483.7708.9790.8

704.5236.9179.8199.5226.0

230.8329.7389.9419.0378.4

361.3363.7381.1395.3397.7

403.7427.1449.4459.8470.8

487.0532.6576.2597.6591.2

572.6566.5570.7565.3573.2

580.9580.3589.1604.1609.1

620.5629.7641.7649.0677.7

731.2761.6781.8785.1

395.2402.6406.8410.1

419.7422.4426.7439.6

446.0446.9452.1452.6

455.2454.4464.1465.5

469.2472.7470.3471.1

469.6480.8491.5505.8

513.5523.4541.9551.7

569.2573.1579.1583.2

Federal

18.3

20.621.221.927.034.7

34.153.648.955.053.8

63.6153.0407.1638.1722.5

634.0159.391.9

106.1119.5

116.7214 A272.7295.9245.0

217.9215.4224.1224.9221.5

220.6232.9249.3247.8244.2

244.4273.8304.4309.6295.6

268.3250.6246.0230.0226.4

226.3224.2231.8233.7236.2

246.9259.6272.7275.1290.8

326.0334.1339.6328.9

217.0220.4221.8223.2

226.9230.8233.1240.7

248.7248.1250.9249.4

248.2245.5249.5248.0

248.3246.8241.8239.9

236.3241.3244.9255.2

259.4267.1282.9285.9

300.4302.8307.6306.6

Stateandlocal

75.9

82.785.680.371.576.1

79.078.979.082.990.3

86.682.676.770.868.3

70.577.687.993.4

106.5

114.2115.4117.3123.1133.4

143.4148.3157.0170.4176.2

183.1194.2200.1212.0226.6

242.5258.8271.8288.0295.6

304.3315.9324.7335.3346.8

354.6356.0357.2370.4373.0

373.6370.1369.0373.9387.0

405.2427.5442.1456.2

178.2182.2185.0186.9

192.8191.6193.5198.9

197.3198.8201.2203.2

207.0208.9214.6217,5

220.9225.9228.5231.2

233.4239.6246.6250.6

254.1256.2259.0265.8

268.8270.3271.5276.5

Finalsales

698.7

643.6595.2525.6509.2544.3

574.0653.1681.2670.2712.7

758.5881.6

1,068.31,275.51,385.7

1,363.31,069.01,067.71,096.41,118.7

1,179.51,297.41,370.01,432.51,421.0

1,478.61,512.71,548.11,542.61,612.6

1,657.51,701.41,783.31,856.71,957.6

2,062.42,171.52,242.62,344.62,398.1

2,407.92,465.22,586.82,704.12,696.0

2,707.82,804.62,929.53,078.43,177.4

3,194.03,225.03,190.53,285.53,439.1

3,609.63,712.43,830.03,996.5

1,644.91,659.51,657.61,668.0

1,678.51,690.41,699.21,737.5

1,755.91,779.71,794.71,802.6

1,817.71,841.41,872.31,895.4

1,931.81,950.11,971.41,976.8

2,004.62,042.52,073.92,128.3

2,154.32,162.02,184.42,185.1

2,205.22,237.12,256.62,271.3

Grossdomestic

pur-chases

704.9

640.5589.1509.7499.9536.5

586.1666.3695.6658.2710.5

764.6905.5

1,088.01,299.21,404.3

1,373.71,069.91,024.31,089.51,090.2

1,199.01,313.61,373.11,438.01,413.7

1,494.91,521.31,544.21,549.61,647.3

1,669.31,711.31,807.01,875.31,967.3

2,090.32,222.12,288.32,395.32,458.1

2,446.22,524.62,658.02,775.72,728.5

2,676.12,837.72,994.13,142.03,188.8

3,130.13,199.43,139.73,299.13,585.4

3,723.03,847.63,969.44,099.3

1,681.01,673.81,670.81,651.5

1,667.61,695.11,721.71,761.0

1,787.31,801.61,819.61,819.1

1,841.21,861.51,895.11,903.1

1,939.01,960.71,979.61,989.9

2,039.92,066.82,103.62,150.8

2,198.02,207.42,236.52,246.4

2,257.32,271.42,301.22,323.1


GNP

-9.4-8.5

-13.4-2.1

7.7

8.114.15.0

-4.57.9

7.817.718.818.18.2

-1.9-19.0-2.8

3.9, 0

8.510.33.94.0

-1.3

5.62.11.7-.85.8

2.22.65.34.15.3

5.85.82.94.12.4

-.32.85.05.2-.5

-1.34.94.75.32.5

-.21.9253.66.8

3.42.73.74.4

7.0-1.1

.4-3.4

4.25.15.89.3

5.34.23.8^.7

5.55.77.22.9

9.23.54.11.7

9.05.96.59.5

8.21.04.22.0

2.32.45.92.3

Finalsales

-7.9-7.5

-11.7-3.1

6.9

5.513.84.3

-1.66.3

6.416.221.219.48.6

-1.6-21.6

-.12.72.0

5.410.05.64.6-.8

4.12.32.3-.44.5

2.82.64.84.15.4

5.45.33.34.52.3

.42.44.94.5-.3

.43.64.55.13.2

.51.0

-1.13.04.7

5.02.83.24.3

5.23.6-.52.5

2.52.92.19.3

4.35.53.41.8

3.45.36.95.0

7.93.84.41.1

5.77.86.3

10.9

5.01.44.2

.1

3.75.93.52.6

Grossdomestic

pur-chases

-9.1-8.0

-13.5-1,9

7.3

9.213.74.4

-5.47.9

7.618.420.119.48.1

-2.2—22.1-43

6.4.1

10.09.64.54.7

-1.7

5.71.81.5.4

6.3

1.32.55.63.84.9

6.36.33.04.72.6

-.53.25.34.4

-1.7

-1.96.05.54.91.5

-1.82.2

-1.95.18.7

3.83.33.23.3

5.4-1.7-.7

-4.5

4.06.86.49.4

6.13.24.1-.1

4.94.57.41.7

7.84.63.92.1

10.45.47.39.3

9.11.75.41.8

2.02.55.43.9



Table 2.—Gross National Product in Constant Dollars—Continued[Billions of 1982 dollars; quarterly data are seasonally adjusted at annual rates]

Year andquarter

1968: IIIIllIV

1969: IIIIllIV . .

1970: IUIII.IV

1971: IIIHIIV

1972: IIIIllIV

1973- IIIIIIIV

1974: IIIIllIV

1975: IIIIllIV

1976: IIIIIIIV

1977: IIIIllIV

1978: IIIHIIV

1979- IIIIllIV

1980: III....IllIV

1981: IHIllIV

1982: IIIIllIV

1983: I ... .IIIllIV

1984: IIIIllIV

1985: IIIIllIV

1986: IIIIIIIV

1987: IIIIllIV

1988: IIIIllIV

GNP

2,327.32,366.92,385.32,383.0

2,416.52,419.82,433.22,423.5

2,408.62,406.52,435.82,413.8

2,478.62,478.42,491.12,491.0

2,545.62,595.12,622.12,671.3

2,734.02,741.02,738.32,762.8

2,747.42,755.22,719.32,695.4

2,642.72,669.62,714.92,752.7

2,804.42,816.92,828.62,856.8

2,896.02,942.73,001.82,994.1

3,020.53,115.93,142.63,181.6

3,181.73,178.73,207.43,201.3

3,233.43,157.03,159.13,199.2

3,261.13,250.23,264.63,219.0

3,170.43,179.93,154.53,159.3

3,186.63,258.33,306.43,365.1

3,451.73,498.03,520.63,535.2

3,577.53,599.23,635.83,662.4

3,721.13,704.63,712.43,733.6

3,783.03,823.53,872.83,935.6

3,974.84,010.74,042.74,069.4


Total

1,378.11,396.71,421.51,427.1

1,442.91,451.71,459.91,472.0

1,481.51,488,11,501.31,497.2

1,520.91,533.01,541.01,560.1

1,581.81,607.91,629.91,667.8

1,689.91,687.21,694.51,686.8

1,667.51,677.21,686.71,664.7

1,677.11,706.01,723.91,740.4

1,777.51,790.41,809.91,837.8

1,863.71,869.01,888.01,914.2

1,923.01,960.81,970.31,989.7

1,997.51,994.12,007.92,018.0

2,015.41,974.11,996.32,015.6

2,022.92,022.42,031.52,020.0

2,031.22,041.02,051.82,078.7

2,094.22,135.12,163.02,191.9

2,212.12,246.72,257.32,281.1

2,319.12,337.42,375.92,386.9

2,410.92,432.42,464.42,477.8

2,478.32,507.72,536.52,532.3

2,570.82,586.82,608.12,627.7

Durablegoods

155.8159.1166.4165.3

168.8168.2167.6166.7

163.5165.6166.2154.8

170.7175.1180.0187.4

191.7196.1201.4212.4

225.7221.8220.0213.8

208.2209.9211.6189.7

193.5198.7211.7218.3

229.7230.6232.4236.7

246.7251.8256.2261.1

252.6272.4270.9273.9

268.9262.9270.9263.4

260.6231.9242.7248.6

258.7248.4255.5240.4

247.7249.1251.8262.0

263.3280.0288.5300.5

312.6322.5324.3333.1

344.8350.3369.1356.4

363.7374.5401.9397.5

376.1389.3403.8389.4

408.4414.8410.7420.5

Nondur-able

goods

594.2599.2608.6607.6

613.4616.2617.6621.4

628.4629.6634.3637.7

639.4640.9639.0641.8

647.5661.8670.4682.2

687.8680.8684.5679.4

664.9665.4670.2663.9

666.9677.8679.8681.5

696.2705.0712.1721.8

728.8727.3728.3740.9

745.8749.1753.5766.3

766.2762.1766.0772.2

767.9760.9759.9761.5

763.3764.5764.7765.2

764.2768.3772.8778.6

786.3795.7806.2812.7

814.5828.2829.6831.2

838.2843.0850.0858.3

870.1879.8879.1883.5

887.7889.0891.8892.9

896.6899.2910.3912.0

Services

628.2638.3646.5654.2

660.7667.3674.7683.9

689.7692.8700.8704.6

710.8717.0722.0731.0

742.7750.0758.1773.2

776.3784.6790.0793.5

794.4801.9804.9811.0

816.7829.6832.4840.5

851.7854.8865.4879.4

888.2889.9903.5912.2

924.6939.2945.9949.6

962.4969.1971.0982.4

986.9981.3993.6

1,005.6

1,000.91,009.51,011.41,014.3

1,019.21,023.51,027.21,038.1

1,044.61,059.41,068.31,078.6

1,085.01,096.11,103.51,116.8

,136.2,144.1,156.8,172.2

,177.1,178.0,183.4,196.8

1,214.51,229.51,240.91,250.0

1,265.91,272.81,287.01,295.2


Total

387.7397.2392.0390.2

412.0409.1419.5400.5

379.9376.4390.6379.3

415.5423.1425.9412.8

439.5462.3473.8486.0

515.7521.7511.4534.2

501.1496.5465.5462.2

370.6358.1394.4410.1

444.7454.9452.8461.8

492.0519.0546.9527.2

544.0584.6583.3595.8

582.2590.1575.7552.9

556.7499.2467.7513.5

552.3551.2560.7517.9

464.2467.5448.6408.8

427.1486.9524.8577.2

655.2658.4664.2655.7

634.3647.5618.1648.0

676.1642.3625.1615.2

646.3656.7671.7721.1

707.0713.5733.6709.1

Nonresi-dential

255.7250.0252.1260.4

266.0267.9273.8271.1

265.9264.3266.9259.0

257.7258.6257.6259.6

267.9272.2275.9292.2

304.5316.7322.6325.5

324.4324.7316.0306.2

285.5277.6279.6282.1

284.9286.8292.8297.9

311.5320.4327.8336.4

339.5363.6369.4376.0

383.7384.9394.2394.8

397.7372.9370.4375.8

385.7395.3402.7397.0

387.0369.5358.0352.3

341.6348.8363.9390.4

401.3422.0433.0444.4

448.2457.8447.1460.9

448.5438.7430.9435.7

430.9445.6472.8472.7

483.6497.8501.0492.7

Residen-tial

112.9115.8116.8119.3

119.4118.3116.5107.5

108.2102.1107.6119.2

126.1139.3147.7152.2

163.6164.5165.6172.8

177.1165:3158.7152.5

141.4134.4130.6114.4

106.9110.8118.2123.6

135.4139.1136.3152.4

156.3172.7174.4169.1

172.9179.8180.8178.6

174.6172.4170.6165.7

154.9124.1126.8142.2

139.3134.1122.3110.4

101.2103.4100.1115.8

127.8147.4161.9159.9

170.5173.1170.3169.6

170.3172.9175.0179.4

185.7196.5200.1200.3

197.3197.8192.1191.9

189.1194.2195.1198.1

CBI

19.131.423.210.5

26.622.929.221.9

5.810.016.11.0

31.725.220.6

1.0

8.125.632.421.0

34.139.630.156.3

35.337.518.841.5

-21.8-30.3-3.44.4

24.429.023.711.6

24.225.944.721.7

31.641.133.141.3

23.932.810.9-7.6

4.12.3

-29.5-4.5

27.321.835.710.6

-24.0-5.4-9.4

-59.3

-42.3-9.3-1.027.0

83.463.260.941.7

15.816.9-4.07.7

41.97.1

-5.9-20.8

18.113.36.8

56.6

34.321.537.518.3

Net exports

Net

-28.7-27.5-29.2-33.2

-31.6-36.9-36.6-34.3

-31.4-27.7-27.7-33.3

-25.3-41.7-42.7-49.3

-52.2-49.2-47.7-48.6

-44.1-36.6-23.4-22.4

11.01.4

-5.5-3.5

17.428.214.415.5

-.2-8.7

-13.4-21.8

-39.9-32.8-28.1-41.0

-39.0-30.7-22.4-15.1

-4.8-12.4

12.518.7

43.558.674.152.2

59.750.242.145.3

40.441.711.711.7

16.1-14.6-35.0-46.2

-68.6-87.3-85.5-94.8

-81.4-102.4-107.9-125.3

-110.0-131.2-142.3-135.4

-118.2-115.9-118.9-109.8

-78.2-72.6-74.9-73.8

Exports

149.3153.1161.8158.5

144.9171.3170.3173.3

175.8181.2178.4177.8

178.7180.2187.5170.4

189.5186.9196.6207.8

227.7239.2247.8254.1

266.8276.6266.7266.7

260.0252.5256.9269.3

268.5272.0277.9279.1

277.8284.8287.0276.9

290.8307.6318.5333.1

340.4343.6363.5378.8

398.9393.1383.6380.6

394.5395.3391.1389.8

374.1378.5359.5336.0

342.5341.7352.8355.5

362.7369.1378.7376.6

371.2367.6362.6367.4

392.9389.6399.6406.5

418.7439.5461.3484.1

517.4519.7531.9551.4

Imports

178.0180.6191.0191.8

176.5208.2206.9207.7

207.2208.9206.1211.1

204.0221.8230.2219.7

241.7236.1244.3256.4

271.8275.7271.2276.5

255.8275.2272.3270.2

242.6224.3242.5253.9

268.7280.7291.3300.9

317.7317.7315.1317.9

329.8338.3341.0348.2

345.2356.1351.0360.1

355.4334.5309.6328.4

334.8345.1349.0344.5

333.7336.8347.8324.3

326.4356.3387.8401.6

431.3456.5464.1471.4

452.6470.0470.5492.6

502.9520.7541.9541.9

536.9555.4580.2593.9

595.6592.3606.9625.2


Total

590.1600.5601.0599.0

593.2596.0590.4585.3

578.6569.7571.6570.6

567.6564.0566.9567.4

576.4574.1566.1566.1

572.5568.6555.8564.2

567.8580.2572.6572.1

577.5577.2582.1586.8

582.4580.3579.4579.0

580.2587.5594.9593.6

592.5601.3611.5611.1

606.7606.9611.3611.7

617.8625.1621.1617.9

626.3626.4630.2635.9

634.6629.7642.5660.1

649.2650.9653.6642.2

653.0680.2684.5693.2

705.5716.7749.8752.7

744.1761.2765.2776.0

776.6774.9783.5792.1

775.1783.0775.9806.4

Federal

309.0313.4310.4305.7

299.0299.8294.2289.5

279.8268.9264.0260.4

255.5249.1251.1246.6

253.6252.2241.7236.4

240.4235.8220.0223.9

223.9232.0225.2224.4

226.3225.5225.7227.8

222.1223.4225.4226.1

223.8230.8238.0234.8

228.4230.3238.3237.9

236.4233.9237.3237.1

243.3251.6248.2244.4

252.0256.0262.7267.5

267.0260.5273.8289.5

278.2278.5277.6266.0

271.5295.6295.5300.5

309.0313.3340.9340.6

324.4335.4334.2342.4

338.1334.7340.7344.9

323.8327.9319.8343.9

Stateandlocal

281.1287.1290.7293.2

294.2296.2296.2295.8

298.8300.8307.7310.2

312.1314.9315.8320.8

322.8321.9324.4329.7

332.2332.8335.8340.3

343.9348.2347.4347.7

351.1351.7356.5359.0

360.3357.0354.0352.8

356.3356.7357.0358.9

364.1371.0373.2373.2

370.3373.0374.0374.6

374.5373.5372.9373.4

374.2370.4367.5368.4

367.7369.2368.6370.6

371.0372.4376.0376.2

381.6384.7388.9392.7

396.4403.4408.9412.1

419.6425.7430.9433.6

438.5440.1442.8447.2

451.3455.1456.1462.5

Finalsales

2,308.12,335.52,362.12,372.5

2,389.92,397.02,403.92,401.6

2,402.82,396.52,419.72,412.7

2,447.02,453.22,470.52,489.9

2,537.52,569.62,589.72,650.3

2,700.02,701.42,708.22,706.5

2,712.12,717.82,700.42,653.9

2,664.42,699.92,718.32,748.3

2,780.02,787.92,805.02,845.2

2,871.82,916.82,957.12,972.4

2,988.93,074.83,109.53,140.3

3,157.73,145.83,196.53,208.9

3,229.33,154.83,188.63,203.8

3,233.83,228.43,228.93,208.5

3,194.43,185.33,164.03,218.6

3,228.93,267.63,307.43,338.1

3,368.33,434.83,459.63,493.5

3,561.73,582,33,639.83,654.7

3,679.23,697.63,718.33,754.4

3,764.93,810.13,866.03,879.0

3,940.53,989.24,005.24,051.0

Grossdomestic

pur-chases

2,356.02,394.42,414.52,416.2

2,448.12,456.72,469.82,457.8

2,440.02,434.12,463.52,447.1

2,503.92,520.12,533.82,540.3

2,597.82,644.32,669.82,719.9

2,778.12,777.62,761.72,785.1

2,736.42,753.82,724.82,699.0

2,625.22,641.42,700.52,737.2

2,804.62,825.62,842.12,878.6

2,935.92,975.53,029.93,035.0

3,059.53,146.63,165.03,196.7

3,186.53,191.13,194.93,182.6

3,189.93,098.43,085.13,147.0

3,201.43,200.03,222.53,173.8

3,130.03,138.23,142.93,147.6

3,170.53,273.03,341.43,411.3

3,520.33,585.43,606.03,630.0

3,658.93,701.63,743.83,787.6

3,831.03,835.83,854.73,869.0

3,901.23,939.33,991.74,045.5

4,052.94,083.34,117.64,143.2


GNP

4.77.03.1-.4

5.7.5

2.2-1.6

-2.4-.35.0

-3.6

11.202.10

9.18.04.27.7

9.71.0-.43.6

-2.21.1

-5.1-3.5

-7.64.17.05.7

7.71.81.74.0

5.66.68.3

-1.0

3.613.23.55.1

0-.43.7-.8

4.1-9.1

.35.2

8.0-1.3

1.8-5.5

-5.91.2

-3.2.6

3.59.36.07.3

10.75.52.61.7

4.92.44.13.0

6.6-1.8

.82.3

5.44.45.36.6

4.03.73.22.7

Finalsales

6.64.84.61.8

3.01.21.2-.4

.2-1.0

3.9-1.2

5.81.02.93.2

7.95.23.29.7

7.7.2

1.0-.3

.8

.8-2.5-6.7

1.65.42.84.5

4.71.12.55.9

3.86.45.62.1

2.212.04.64.0

2.2-1.5

6.61.6

2.6-8.9

4.41.9

3.8-.7

.1-2.5

-1.7-1.1-2.6

7.1

1.34.95.03.8

3.78.12.94.0

8.02.36.61.6

2.72.02.33.9

1.14.96.01.4

6.55.01.64.7

Grossdomestic

pur-chases

5.86.73.4.3

5.41.42.2

-1.9

-2.9-1.0

4.9-2.6

9.62.62.21.0

9.47.43.97.7

8.8-.1

-2.33.4

-6.82.6

-4.1-3.7

-10.52.59.35.5

10.23.02.45.2

8.25.57.5

.7

3.311.92.44.1

-1.3.6.5

-1.5

.9-11.0-1.7

8.3

7.1-.22.8

-5.9

-5.41.1.6.6

2.913.68.68.6

13.47.62.32.7

3.24.84.64.8

4.7.5

2.01.5

3.44.05.45.5

.73.03.42.5

NOTE.—GNP=Gross national product; CBI=Change in business inventories.



Table 3.—Price Indexes and the Gross National Product Implicit Price Deflator

[Index numbers, 1982=100; quarterly data are seasonally adjusted at annual rates]

Year andquarter

1959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

19801981198219831984

1985198619871988

1959- IIIHIIV

1960: IIIIllIV

1961: IIIIllIV

1962- IIIfflIV

1963: IIIIllIV

1964: IIIIIIIV

1965: IIIHIIV

1966- IIIIllIV

1967- IIIIllIV

1968: IIIIllIV

1969; IIIIllIV

1970: IIIIllIV

1971: IIIIllIV

1972: IIIIllIV

1973: IIIIllIV

Fixed-weighted price indexes

GNP

37.6

38.138.438.739.139.6

40.141.142.143.745.6

47.248.850.353.157.2

61.865.168.472.778.8

86.194.1

100.0104.1108.3

111.9114.9119.1124.1

37.437.537.637.8

37.838.038.138.2

38.238.338.438.4

38.538.638.738.8

38.938.939.039.2

39.339.439.639.7

39.940.040.140.2

40.540.941.241.5

41.741.942.242.6

43.043.543.844.4

44.845.345.846.4

46.847.147.347.8

48.348.749.049.3

49.950.150.450.9

51.752.653.754.4


Total

35.2

35.736.136.436.837.2

37.738.539.541.042.8

44.746.648.351.055.8

60.163.567.572.278.6

86.894.6

100.0104.2108.4

112.2115.3120.7125.9

35.035.135.335.5

35.535.735.836.0

36.036.036.136.1

36.236.436.436.5

36.636.736.937.0

37.137.237.337.3

37.537.737.737.8

38.138.438.739.0

39.139.339.640.0

40.440.841.241.6

42.042.543.043.5

44.044.544.945.5

45.946.446.947.2

47.748.048.448.9

49.550.551.552.4

Durablegoods

52.3

52.151.951.751.651.9

51.250.651.252.653.8

55.056.757.158.161.6

66.770.473.377.382.5

89.695.8

100.0102.3104.1

105.2106.5110.3112.9

52.152.352.352.3

52.252.252.051.8

51.851.952.051.8

51.851.751.751.5

51.551.551.651.8

52.151.951.851.7

51.851.551.050.5

50.450.550.750.9

50.850.951.351.8

52.152.352.753.1

53.353.753.954.3

54.454.755.055.9

56.656.956.756.4

56.857.157.357.2

57.558.058.358.5

Nondura-ble

goods

35.0

35.535.836.036.436.8

37.538.739.641.243.2

45.246.648.252.359.0

63.265.468.573.180.8

89.697.0

100.0102.1105.2

107.9107.8112.6in. 234.834.935.135.3

35.235.535.635.8

35.835.735.835.7

35.936.036.036.2

36.336.336.536.6

36.836.836.936.9

37.037.437.637.8

38.338.638.839.1

39.239.339.740.1

40.541.041.441.9

42.342.943.544.1

44.745.145.445.8

45.946.446.847.1

47.647.948.348.9

50.051.553.154.5

Services

31.2

31.932.432.933.433.9

34.535.436.538.039.7

41.944.246.148.352.0

56.260.465.370.276.0

84.092.6

100.0106.3111.8

117.2123.1129.4135.5

30.931.031.331.5

31.631.832.032.2

32.332.432.532.6

32.732.933.033.1

33.233.333.533.6

33.733.834.034.1

34.334.534.634.7

34.935.235.635.9

36.136.336.637.0

37.437.838.238.6

39.039.539.940.5

41.041.642.142.8

43.343.944.545.0

45.545.946.446.8

47.247.948.649.4

Fixed investment

Total

58.0

58.158.058.058.058.2

58.559.360.261.463.2

61.560.659.861.864.4

69.071.472.674.580.3

86.994.5

100.0100.4101.5

103.3105.7107.8111.3

57.958.058.058.1

58.158.258.258.1

58.158.058.058.0

58.058.158.158.0

58.158.058.058.0

58.058.158.358.3

58.458.458.658.7

58.859.259.459.7

60.060.160.360.5

60.961.261.562.1

62.763.163.463.7

62.761.660.960.7

60.860.760.560.4

60.359.759.559.7

60.561.862.562.5

Nonresi-dential

65.9

66.166.066.166.266.4

66.767.468.469.571.0

68.466.665.066.668.5

73.175.274.975.080.1

86.193.9

100.099.9

100.2

101.9104.2105.4109.0

65.765.966.066.1

66.166.266.266.1

66.166.066.066.0

66.166.166.166.1

66.266.266.266.2

66.366.366.466.4

66.566.666.766.9

67.067.367.667.9

68.268.368.568.7

69.069.369.670.2

70.670.971.271.4

70.068.467.767.4

67.166.966.566.1

65.965.064.664.5

65.566.667.267.0

Residen-tial

30.2

30.330.229.929.529.6

30.030.831.633.136.0

37.439.541.645.150.1

54.658.464.872.581.2

89.496.6

100.0102.2106.0

108.3110.9115.9119.5

30.230.230.230.2

30.230.330.330.3

30.230.330.230.1

30.130.029.929.7

29.829.629.329.5

29.329.529.830.0

30.029.830.130.1

30.230.930.831.3

31.531.431.631.8

32.632.733.033.9

35.335.836.336.8

37.037.937.237.6

38.539.339.740.4

40.741.141.742.8

43.244.746.146.7

Exports

32.8

33.534.034.134.434.8

35.937.138.239.340.9

43.345.346.550.859.8

65.467.470.374.582.9

90.597.7

100.0101.6104.3

103.7103.6105.6111.2

32.732.832.933.0

33.433.533.733.6

33.634.134.034.1

34.234.134.134.2

34.234.334.334.5

34.534.634.935.1

35.835.935.935.9

36.436.937.337.8

38.138.138.238.4

38.839.439.339.6

40.240.441.042.0

42.543.343.543.9

44.945.245.345.7

46.246.446.447.1

48.149.651.653.8

Imports

27.0

27.327.026.727.127.7

28.129.129.530.131.2

33.435.637,842.454.5

59.761.366.171.380.9

96.3101.5100.097.797.5

95.794.0

101.2106.3

26.927.027.127.1

27.227.427.427.2

27.227.027.026.8

26.626.626.626.6

26.727.027.227.5

27.627.727.727.7

27.727.928.128.6

28.629.129.229.3

29.429.429.529.6

29.830.130.230.4

30.730.931.332.0

32.432.934.034.5

35.335.335.836.1

37.037.638.138.7

39.641.843.045.5


Total

25.8

26.427.027.828.529.3

30.031.332.734.536.6

39.642.345.248.853.5

58.662.266.070.977.3

86.394.1

100.0104.5109.2

113.2115.5119.6125.1

25.525.625.725.9

26.126.126.426.6

26.726.827.027.2

27.527.627.728.0

28.228.328.428.7

28.829.029.229.3

29.529.729.930.2

30.530.931.431.6

32.032.432.733.2

33.834.234.735.3

35.636.137.037.5

38.539.239.940.5

41.542.142.643.1

44.444.945.546.2

47.348.349.450.2

Federal

26.9

27.327.828.429.330.1

30.832.032.834.536.4

39.542.446.050.154.8

59.462.465.870.676.8

86.494.9

100.0104.1108.0

110.4110.6113.3117.9

26.927.027.127.2

27.227.127.727.7

27.727.927.928.1

28.328.428.529.0

29.129.229.229.7

29.930.130.230.4

30.630.731.031.4

31.631.832.232.3

32.332.632.933.6

33.934.234.935.3

35.535.836.937.3

38.639.239.840.4

41.742.442.743.4

45.445.846.247.0

48.349.351.051.9

State andlocal

24.9

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

100.0104.8110.1

115.3119.2124.3130.4

24.724.925.025.1

25.525.625.825.9

26.126.326.526.7

27.227.327.427.4

27.727.827.928.2

28.328.428.628.7

29.029.129.429.6

30.030.530.931.3

31.932.332.733.1

33.734.234.635.2

35.736.337.037.6

38.539.239.940.5

41.342.042.542.8

43.644.244.945.6

46.547.548.349.0

Finalsales

37.6

38.138.338.739.139.5

40.041.042.043.645.5

47.248.850.253.057.2

61.865.168.472.678.8

86.194.1

100.0104.1108.2

111.8114.8118.9124.0

37.437.537.537.7

37.837.938.138.1

38.238.238.338.3

38.438.638.638.7

38.838.939.039.2

39.339.439.539.6

39.839.940.140.1

40.440.841.141.4

41.641.842.242.5

43.043.443.844.3

44.745.245.846.3

46.747.047.247.7

48.248.749.049.3

49.850.050.350.8

51.652.553.654.4

GNPIPD

30.4

30.931.231.932.432.9

33.835.035.937.739.8

42.044.446.549.554.0

59.363.167.372.278.6

85.794.0

100.0103.9107.7

110.9113.8117.4121.3

30.230.430.630.6

30.930.931.031.0

31.031.231.431.4

31.731.831.932.2

32.332.332.432.6

32.732.833.033.1

33.533.633.934.1

34.534.835.135.5

35.735.736.036.4

37.137.537.938.5

39.039.540.140.6

41.341.942.242.7

43.444.244.745.3

45.846.146.747.3

48.049.050.051.2

Percent change from preceding period

FWPI

GNP

1.4.7.8

1.01.2

1.42.52.63.74.4

3.63.52.95.57.8

8.05.35.16.28.5

9.39.36.24.14.0

3.42.73.64.2

13'1.71.4

.91.81.5.6

.5

.5

.8

.5

1.1.9.5

1.1

1.1.9

1.11.7

1.3.9

1.21.0

1.81.61.31.3

2.63.83.13.3

1.92.03.13.8

3.94.33.54.8

4.14.35.24.6

3.42.61.94.1

4.34.02.52.3

4.41.52.43.9

6.37.48.35.9

PCE

1.5.9.9

1.11.2

1.22.22.53.84.3

4.64.23.55.79.4

7.75.66.37.08.8

10.59.05.64.24.0

3.52.74.74.3

1.12.11.9

.42.31.41.4

.8-.11.2.2

1.21.4.7

1.1

1.0.9

1.61.4

1.5.5

1.0.8

1.61.9.8.8

2.83.13.03.3

1.11.93.63.6

4.04.33.94.5

3.64.94.65.2

4.74.13.95.4

3.84.43.92.8

4.22.83.43.7

5.58.27.87.7

GNPIPD

2.4

1.61.02.21.61.5

2.7161.65.05.6

5.55.74.76.59.1

9.86.46.77.38.9

9.09.76.43.93.7

3.02.63.23.3

4 12.72.70

4.001.30

02.62.60

3.91.31.33.8

1.201.22.5

1.21.22.51.2

4.91.23.62.4

4.83.53.54.6

2.303.44.5

7.94.44.36.5

5.35.26.25.1

7.15.92.94.8

6.77.64.65.5

4.52.65.35.2

6.18.68.4

10.0

GNPChainpriceindex

1.51.01.21.31.5

1.83.02.84.35.0

5.24.84.25.98.9

9.25.96.17.28.7

9.09.46.34.13.9

3.32.53.43.7

1.21.91.6

1.02.01.81.2

.7

.61.1.7

1.71.3.8

1.8

1.4.9

1.12.4

1.31.11.71.3

1.82.02.22.2

3.34.23.33.3

2.12.23.64.3

4.94.54.15.5

4.74.96.25.1

6.05.03.35.2

5.95.23.73.4

5.82.83.84.8

5.87.48.36.8



Table 3.—Price Indexes and the Gross National Product Implicit Price Deflator—Continued[Index numbers, 1982=100; quarterly data are seasonally adjusted at annual rates]

Year andquarter

1974: IIIIllIV

1975: IIIHIIV

1976: IIIIllIV

1977: IIIHiIV

1978: III..IllIV

1979: IIIIllIV

1980: IIIIllIV

1981: IIIHIIV

1982: IIIIllIV

1983: IIIIIIIV

19841 IIIIllIV

1985- IIIIllIV

1986: IIIIIIIV

1987: IIIHIIV

1988: IIIHIIV

Fixed-weighted price indexes

GNP

55,556.457.859.3

60.461.162.363.3

64.064.765.466.3

67.268.168.769.7

70.772.073.274.7

76.378.079.781.3

83.285.186.989.3

91.593.195.196.9

98.299.4

100.7101.7

102.6103.6104.6105.7

106.8107.8108.7109.6

110.6111.5112.3113.2

113.8114.4115.3116.1

117.4118.5119.6120.8

121.9123.3124.9126.2


Total

53.855.256.457.8

58.759.460.661.7

62.362.963.964.8

65.967.068.069.0

70.071.672.974.2

75.877.679.581.4

83.785.887.890.0

92.293.895.597.1

98.399.1

100.7101.8

102.6103.7104.8105.8

107.0107.9108.9109.7

110.6111.7112.6113.8

114.3114.4115.6116.7

118.5120.2121.4122.8

123.6125.1126.6128.1

Durablegoods

59.060.562.664.4

65.466.467.168.1

69.169.970.771.8

72.572.973.574.4

75.376.678.079.2

80.581.983.084.6

86.988.890.592.2

93.495.296.798.0

98.999.9

100.4100.7

101.4101.7102.5103.4

103.5104.1104.3104.5

105.0105.1105.1105.4

105.7106.0106.9107.5

108.7109.8110.9111.6

111.9112.4113.2114.1

Nondura-ble

goods

56.858.459.661.1

61.862.363.864.7

64.765.065.666.2

67.168.169.069.7

70.672.774.075.3

77.479.881.983.9

86.688.690.692.8

95.496.597.698.4

99.299.2

100.5101.0

100.7102.0102.7103.3

104.6104.9105.4106.0

106.6107.7108.1109.1

108.4106.8107.7108.3

110.4112.4113.3114.3

114.7116.6118.1119.4

Services

50.351.452.553.6

54.855.656.657.8

58.859.760.862.1

63.564.766.067.1

68.369.670.972.2

73.474.976.878.7

80.882.985.187.3

89.591.493.895.8

97.498.9

100.8102.7

104.3105.5106.9108.4

109.7111.1112.6113.8

115.0116.4117.9119.5

120.8122.2123.8125.4

127.0128.5130.2131.9

133.2134.7136.2138.1

Fixed investment

Total

62.863.764.966.3

68.068.969.269.8

70.771.471.771.8

72.272.672.573.1

73.173.974.775.9

77.679.681.382.6

84.386.287.989.2

91.493.495.697.7

99.2100.0100.6100.2

100.799.9

100.6100.5

100.4101.4101.8102.3

102.6102.9103.5104.2

104.7105.5105.9106.4

106.9107.3108.1108.7

110.1111.0111.5112.7

Nonresi-dential

67.167.868.970.4

72.173.173.473.8

74.775.375.475.2

75.175.174.674.6

74.474.775.075.9

77.679.580.982.1

83.785.487.088.5

90.792.894.897.1

98.8100.0100.7100.5

100.399.799.999.6

99.599.9

100.4100.9

101.1101.5102.2102.8

103.3104.1104.4104.8

105.1105.2105.4106.0

107.5108.6109.3110.5

Residen-tial

48.049.451.052.2

53.654.254.655.7

56.557.858.860.3

62.064.165.068.0

68.671.573.776.2

77.880.282.784.2

86.389.190.991.7

94.095.498.199.6

100.5100.2100.499.1

101.9100.4103.2103.3

103.5106.4106.9107.2

107.9107.9108.2109.0

109.7110.3111.2112.1

113.2114.9117.4118.2

119.2119.3119.3120.1

Exports

56.558.260.963.8

65.565.265.265.7

66.467.067.568.6

69.570.670.370.7

72.173.874.876.9

79.582.384.085.6

87.688.991.494.4

96.697.498.098.7

99.7100.1100.1100.0

100.4101.0101.7103.2

103.9104.9104.5104.0

103.8103.9103.5103.4

103.6103.5103.3103.5

104.2105.1105.8106.5

108.1110.0112.6113.3

Imports

49.553.756.458.3

59.660.359.559.6

60.161.061.962.2

64.165.867.067.6

69.070.972.073.3

75.878.682.386.8

92.495.398.1

100.0

101.9102.5100.7101.0

101.4100.099.399.3

98.397.497.797.6

97.798.197.496.8

95.295.695.396.8

95.992.592.994.7

97.9100.4101.9103.3

104.5106.1106.2107.3


Total

51.552.554.255.9

57.057.959.060.3

61.061.862.463.4

64.665.666.267.8

69.070.171.473.3

74.576.077.980.8

83.085.486.890.0

91.793.194.696.8

98.199.4

100.5102.0

103.0103.9105.0106.0

107.7108.8109.6110.7

112.1112.8113.4114.4

114.9115.1115.4116.6

118.0119.0120.2121.3

123.1124.4125.9126.9

Federal

53.153.455.457.4

58.158.659.761.1

61.662.062.263.6

64.865.465.367.6

69.169.770.673.0

74.175.277.080.9

82.785.386.291.4

92.693.795.098.1

98.799.6

100.0101.7

102.8103.7104.5105.4

106.9107.8108.1109.0

110.4109.9110.0111.0

110.9110.5110.0110.7

112.1113.0113.6114.5

116.3117.4118.7119.3

State andlocal

50.351.853.454.8

56.157.458.659.6

60.761.762.563.3

64.465.866.868.0

69.070.371.973.5

74.976.578.680.7

83.385.487.288.9

91.092.794.395.9

97.799.2

100.9102.2

103.2104.1105.3106.4

108.2109.6110.7111.9

113.4114.9115.8117.0

117.8118.4119.4121.0

122.3123.5125.1126.4

128.1129.6131.2132.6

Finalsales

55.556.457.759.3

60.461.162.263.3

64.064.665.366.3

67.268.168.769.7

70.671.973.274.7

76.278.079.781.3

83.285.186.989.3

91.493.195.196.9

98.299.4

100.7101.7

102.6103.5104.6105.6

106.8107.8108.7109.5

110.5111.4112.2113.1

113.7114.3115.1116.0

117.2118.4119.5120.6

121.8123.2124.8126.1

GNPIPD

51.953.054.856.3

57.758.659.961.0

61.762.563.464.5

65.666.967.768.9

69.971.672.974.4

76.177.879.481.0

82.784.686.589.0

91.392.894.996.7

98.299.4

100.8101.7

102.5103.3104.2105.4

106.5107.3108.2109.0

109.7110.6111.3112.2

112.4113.2114.6115.1

116.0117.1117.9118.6

119.2120.6121.9123.3

Percent change from preceding period

FWPI

GNP

8.26.79.9

11.2

7.84.67.76.7

4.64.24.45.9

5.55.63.46.0

5.47.77.08.7

8.39.68.78.7

9.49.59.0

11.3

10.07.58.87.7

5.74.75.54.0

3.63.84.24.0

4.53.83.43.2

3.83.32.83.3

2.22.12.93.1

4.34.13.83.8

3.84,85.24.3

PCE

11.210.19.4

10.0

6.74.98.46.9

4.24.26.06.2

7.06.86.25.6

6.39.37.57,6

8.710.09.99.9

12.110.19.9

10.2

10.27.47.66.4

5.23.56.34.8

2.84.64.14.1

4.53.23.83.2

3.24.23.34.3

1.6.5

4.23.9

6.15.84.44.5

2.65.14.64.9

GNPIPD

5.68.8

14.311.4

10.36.49.27.6

4.75.35.97.1

7.08.24.97.3

5.910.17.58.5

9.59.28.58.3

8.79.59.3

12.1

10.76.79.47.8

6.45.05.83.6

3.23.23.54.7

4.23.03.43.0

2.63.32.63.3

.72.95.01.8

3.23.82.82.4

2.04.84.44.7

GNPChainpriceindex

8.58.8

12.512.3

9.36.08.37.2

4.84.65.46.8

6.26.74.77.5

5.89.17.89.1

8.49.68.18.2

9.09.49.4

11.3

9.87.59.07.9

5.94.85.64.1

3.73.64.13.9

4.53.83.43.1

3.73.22.63.2

1.71.73.12.7

4.13.83.73.3

3.34.34.44.1

NOTE.—GNP=Gross national product; PCE=Personal consumption expenditures; IPD=Implicit price deflator, FWPI=Fixed-weighted price index.



Table 4.—National Income and Disposition of Personal Income


Year andquarter

1929

193019311932.1933 . .1934

19351936193719381939

194019411942 .19431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

1970... .1971197219731974

1975 .. ..1976197719781979

19801981198219831984

1985198619871988

1960: IIIIllIV

1961: IIIHIIV

1962: IIIIllIV.

1963: IIIHIIV

1964: IIIIllIV

1965: IIIIllIV... .

1966: IIIIllIV

1967: IIIIllIV

Nationalincome

84.7

73.558.342.039.448.3

56.164.072.265.871.2

79.6102.8136.2169.7182.6

181.6180.7196.6221.5215.2

239.8277.3291.6306.6306.3

336.3356.3372.8375.0409.2

424.9439.0473 3500.3537.6

585.2642.0677.7739.1798.1

832.6898.1994.1

1,122.71,203.5

1,289.11,441.41,617.81,838.22,047.3

2,203.52,443.52,518.42,719.53,028.6

3,234.03,412.63,665.43,972.6

425.3425.3425.7423.1

424.3434.1442.5454.9

464.4470.9475.8482.2

487.9496.8503.8512.6

524.3533.4543.3549.4

566.4578.6589.3606.7

627.1636.4647.0657.4

662.7669.3682.6696.3


Total

51.1

46.939.831.129.634.3

37.443.048.045.048.2

52.264.885.3

109.6121.3

123.3119.6130.1142.1142.0

155.4181.6196.3210.4209.4

225.9244.7257.8259.8281.2

296.7305.6327.4345.5371.0

399.8443.0475.5524.7578.4

618.3659.4726.2812.8891.3

948.71,057.91,176.61,329.21,491.4

1,638.21,807.41,907.02,020.72,213.9

2,367.52,511.42,690.02,907.6

294.2297.1297.9297.4

298.3302.4307.4314.1

320.6326.6329.5333.0

337.9342.7347.7353.9

360.3367.7375.0381.0

387.6394.4402.6414.6

426.9438.1449.2457.6

463.9469.4479.0489.8

Wagesand

salaries

50.5

46.239.230.529.033.7

36.742.046.143.046.0

49.962.182.1

105.8116.7

117.5112.0123.1135.5134.7

147.2171.6185.6199.0197.2

212.1229.0239.9241.3259.8

272.8280.5299.3314.8337.7

363.7400.3428.9471.9518.3

551.5584.5638.7708.6772.2

814.7899.6994.0

1,119.61,251.9

1,372.01,510.41,586.11,676.21,838.8

1,975.22,094.82,249.42,429.0

270.7273.4273.9273.3

273.8277.6282.2288.4

293.2298.7301.1304.2

307.9312.3316.8322.2

328.2334.8341.4346.6

352.8358.8366.2377.1

385.7395.9406.1413.4

418.8423.5431.9441.5

Supple-ments to

wagesand

salaries

.7

.7

.6

.6

.6

.6

.71.01.82.02.2

2.32.83.23.84.5

5.87.67.06.57.3

8.210.010.711.512.1

13.815.717.818.521.4

23.825.128.130.733.2

36.142.746.652.860.1

66.874.987.6

104.2119.1

134.0158.3182.6209.7239.5

266.3297.1320.9344.5375.1

392.4416.6440.7478.6

23.523.824.024.1

24.524.825.225.7

27.427.928.328.8

30.030.330.931.7

32.132.933.634.3

34.935.636.537.5

41.242.243.144.2

45.145.847.048.3

Proprietors'income with IVA

and CCAdj.

Farm

6.1

4.33.42.12.52.9

5.24.36.04.44.4

4.46.4

10.112.011.9

12.414.815.117.512.8

13.616.015.013.012.4

11.311.111.013.110.8

11.612.012.111.910.7

13.014.012.712.814.6

14.715.519.433.727.5

25.420.620.527.031.7

20.530.724.612.430.5

30.234.741.639.8

10.311.812.012.1

12.111.811.912.2

12.412.212.012.0

12.112.111.911.6

10.610.510.511.1

11.913.313.513.3

15.714.113.712.7

12.512.713.212.6

Nonfarm

8.3

6.95.23.12.94.3

5.16.36.86.57.1

8.210.813.816.818.1

19.121.520.422.923.1

25.228.029.430.431.1

34.035.837.838.540.9

40.542.344.445.749.8

52.155.558.462.664.7

65.471.479.085.391.3

100.0117.1132.4149.2160.1

160.1156.1150.9178.4204.0

225.6247.2270.0288.0

40.840.740.340.2

41.342.142.643.3

43.844.444.844.8

44.945.345.946.8

48.349.750.550.6

50.951.752.253.6

54.855.255.756.4

57.358.059.259.1

Rentalincome

ofpersons

withCCAdj.

4.9

4.23.42.72.01.6

1.61.71.92.42.6

2.73.24.14.64.8

5.05.85.86.46.7

7.78.39.4

10.711.6

12.012.413.113.914.6

15.315.816.517.117.3

18.118.619.618.418.4

18.218.617.918.016.1

13.511.98.29.35.6

6.613.313.613.28.5

9.211.613.415.7

15.215.315.415.5

15.615.715.916.1

16.216.316.616.9

17.017.217.017.2

17.417.317.317.3

17.718.118.218.3

18.518.418.718.7

19.219.819.819.5

Corporate profits with IVA and CCAdj.

Total

9.6

6.31.6

-1.6-1.5

1.1

2.75.05.83.95.5

8.814.319.724.024.2

19.717.222.930.328.0

34.939.937.537.736.6

47.145.745.340.351.4

49.550.358.363.670.7

81.386.684.190.787.4

74.787.1

100.7113.3101.7

117.6145.2174.8197.2200.1

177.2188.0150.0213.7266.9

282.3282.1298.7328.6

53.849.548.646.0

45.049.451.655.4

57.757.058.160.3

60.363.564.766.0

70.370.371.570.6

78.280.481.485.3

88.486.885.086.2

83.582.483.786.7

IVA

.5

3.32.41.0

-2.1-.6

-.2-.701.0_ j

— 2-15-1.2-.8-.3

-.6-5.3-5.9-2.2

1.9

-5.0-1.2

1.0-1.0

— 3

-1.7-2.7-1.5-.3-.3

-.2.3

0.1

-.5

-1.2-2.1-1.6-3.7-5.9

-6.6-4.6-6.6

-20.0-39.5

-11.0-14.9-16.6-25.3-43.2

-43.1-24.2-10.4-10.9-5.8

-1.76.7

-18.9-25.0

-.9-.6

.5

.3

-.11.0.3

-.2

.4-.1-.8

.5

1.0.2

-.2-.8

-.2-.1-.9-.7

-.4-1.1-1.5-1.9

-1.2-2.7-3.6-1.0

-.4-1.3-1.7-2.8

CCAdj.

-.9

-.7-.4— 3-3-.6

-.6-.6

-1.1-1.1-1.0

-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

3.13.84.5

5.25.45.55.36.1

5.24.35.86.22.3

-6.2-10.1-9.0

-10.9-14.0

-16.8-14.4-9.217.032.7

59.753.850.946.8

-.4-.4-.2

0.3.3.3

3.03.03.23.2

3.33.93.94.3

4.54.34.64.4

4.85.15.55.2

5.55.35.45.5

5.35.45.75.6

Profitsbefore

tax

10.0

3.7-.4

-2.31.02.3

3.66.36.94.07.2

10.017.921.725.324.2

19.824.831.835.629.2

42.944.539.641.238.7

49.249.648.141.952.6

49.949.855.159.866.7

77.483.380.189.187.2

76.087.3

101.5127.2138.9

134.8170.3200.4233.5257.2

237.1226.5169.6207.6240.0

224.3221.6266.7306.8

55.050.548.345.9

45.048.051.055.3

54.354.055.756.6

56.159.561.062.5

66.066.167.866.8

73.876.477.582.0

84.184.183.281.6

78.678.379.783.9

Profitsafter tax

8.6

2.9— 9

-2.7A

1.6

2.64.95.43.05.7

7.210.310.311.211.3

9.115.720.523.219.0

25.021.920.220.921.1

27.227.626.722.928.9

27.227.131.233.538.7

46.549.647.549.747.5

41.749.659.677.987.1

83.9106.0127.4150.0169.2

152.3145.4106.5130.4146.1

127.8115.3142.0168.9

29.627.526.525.3

24.826.127.629.7

30.530.531.432.3

31.733.334.135.0

38.338.339.338.9

44.346.046.649.1

50.050.149.748.7

46.346.447.549.7

Netinterest

4.7

4.94.94.64.14.1

4.13.83.73.63.6

3.33.33.12.72.3

2.21.82.32.42.6

3.03.53.94.45.2

5.86.57.89.5

10.2

11.312.914.616.318.2

20.924.327.429.834.6

41.246.351.059.675.5

83.888.8

105.3126.3158.3

200.9248.1272.3281.0304.8

319.0325.5351.7392.9

11.010.911.511.9

12.112.613.113.8

13.814.414.815.3

15.716.016.517.0

17.417918.618.8

20.120.721.421.5

22.823.824.725.8

26.227.027.828.6

Personalincome

84.3

75.564.749.446.353.1

59.868.073.467.672.1

77.695.2

122.4150.7164.5

170.0177.6190.2209.2206.4

228.1256.5273.8290.5293.0

314.2337.2356.3367.1390.7

409.4426.0453.2476.3510.2

552.0600.8644.5707.2772.9

831.8894.0981.6

1,101.71,210.1

1,313.41,451.41,607.51,812.42,034.0

2,258.52,520.92,670.82,838.63,108.7

3,325.33,526.23,777.64,064.5

404.3409.5411.4412.4

416.0422.1428.7437.2

443.7451.4456.1461.5

467.0472.2478.8487.4

496.55059515.2523.4

534.0544.6558.3571.1

583.4593.9606.9619.1

629.5637.5650.3660.9

Less:Personaltax andnontaxpay-

ments

2.6

2.51.81.41.41.6

1.92.22.92.82.4

2.63.35.9

17.818.9

20.818.721.421.018.5

20.628.934.035.532.5

35.439.742.442.246.1

50.552.257.060.558.8

65.274.982.497.7

116.3

116.2117.3142.0152.0171.8

170.6198.7228.1261.1304.7

340.5393.3409.3410.5440.2

486.6512.9571.7586.6

49.450.450.951.2

51.451.752.453.2

54.556.457.859.3

59.960.360.761.1

59.956.458.560.4

64.465.764.666.1

69.774.076.579.5

80.480.283.685.5

Equals:DPI

81.7

73.062.948.044.951.6

57.965.870.564.869.7

75.091.9

116.4132.9145.6

149.2158.9168.8188.1187.9

207.5227.6239.8255.1260.5

278.8297.5313.9324.9344.6

358.9373.8396.2415.8451.4

486.8525.9562.1609.6656.7

715.6776.8839.6949.8

1,038.4

1,142.81,252.61,379.31,551.21,729.3

1,918.02,127.62,261.42,428.12,668.6

2,838.73,013.33,205.93,477.8

354.9359.1360.5361.1

364.6370.3376.2383.9

389.2394.9398.3402.2

407.1411.9418.1426.2

436.6449.5456.7462.9

469.6478.9493.7505.0

513.7519.9530.4539.6

549.0557.2566.7575.4

Less:Personaloutlays

79.2

71.161.449.346.552.0

56.462.867.564.967.9

72.081.989.5

100.2109.0

120.5145.3163.6177.0180.6

194.8211.0222.4236.7244.1

262.8276.2291.2300.6322.8

338.1348.9370.2391.2419.9

452.5489.9516.9567.1614.5

657.9710.5778.2860.8941.7

1,038.21,156.91,288.61,441.11,611.3

1,781.11,968.12,107.52,297.42,504.5

2,713.32,888.53,104.13,333.1

332.6339.0339.3341.5

342.1346.8349.7357.0

362.0367.9372.2378.9

383.0387.5394.8399.5

408.9416.8425.7428.1

438.8446.1455.4469.6

480.1485.3494.5499.9

504.5514.1520.9528.2

Equals:Personalsaving

2.6

1.91.4

-1.3-1.6-.4

1.53.02.9-.11.8

3.010.027.032.736.5

28.713.65.2

11.17.4

12.616.617.418.416.4

16.021.322.724.321.8

20.824.925.924.631.5

34.336.045.142.542.2

57.766.361.489.096.7

104.695.890.7

110.2118.1

136.9159.4153.9130.6164.1

125.4124.9101.8144.7

22.320.121.319.7

22.523.526.526.9

27.227.026.123.4

24.124.523.326.8

27.732.631.034.8

30.832.738.335.5

33.734.635.939.7

44.543.145.847.2

Savingas

percent-age of

DPI

3.2

2.62.3

-2.8-3.6-.9

2.54.54.2-.12.6

4.010.923.224.625.1

19.28.63.15.93.9

6.17.37.37.26.3

5.87.27.27.56.3

5.86.66.55.97.0

7.06.88.07.06.4

8.18.57.39.49.3

9.27.66.67.16.8

7.17.56.85.46.1

4.44.13.24.2

6.35.65.95.4

6.26.37.07.0

7.06.86.65.8

5.95.95.66.3

6.47.36.87.5

6.66.87.87.0

6.66.76.87.4

8.17.78.18.2

DPI inconstant(1982)dollars

498.6

459.2438.7380.2370.8392.1

427.8479.1494.7462.3499.5

530.7604.1693.0721.4749.3

739.5723.3694.8733.1733.2

791.8819.0844.3880.0894.0

944.5989.4

1,012.11,028.81,067.2

1,091.11,123.21,170.21,207.31,291.0

1,365.71,431.31,493.21,551.31,599.8

1,668.11,728.41,797.41,916.31,896.6

1,931.72,001.02,066.62,167.42,212.6

2,214.32,248.62,261.52,331.92,469.8

2,542.82,635.32,676.62,793.2

1,087.31,093.61,093.01,090.5

1,100.81,117.71,127.41,146.8

1,158.41,167.81,174.71,179.8

1,190.91,198.21,210.91,229.4

1,253.71,287.71,304.11,318.6

1,327.11,346.81,383.21,405.8

1,414.31,422.31,437.41,451.1

1,474.01,487.91.500.11,510.7



Table 4.—National Income and Disposition of Personal Income—Continued


Year andquarter

Nationalincome


Wagesand

salaries

Supple-ments to

wagesand

Proprietors'income with IVA

and CCAdj.

Farm Nonfarm

Rentalincome

ofpersons

withCCAdj.

Corporate profits with IVA and CCAdj.

CCAdj.Profitsbefore Profits

after tax

Netinterest

Personalincome

Less:Personaltax andnontaxpay-

ments

Equals:DPI

Less:Personaloutlays

Equals:Personalsaving

Savingas

percent-age ofDPI

DPI inconstant(1982)dollars

II....III...IV...

1969: IIIIII..,IV....

1970: IIIIII...IV...

1971: IIIIII...IV...

1972: I..IIIII....IV....

1973: IIIIII....IV....

1974: IIIIII....IV....

1975: IIIIII...,IV...,

1976: IIIHI...,IV...

1977: IIIIII...IV...,

1978: III....III..,IV...

1979: III...,in..,IV...

IIIllIV

1981: IIIIII....IV....

1982: IIIIII....IV....

1983: IIIIII....IV....

1984: IIIIII....IV....

1985: IIIIII....IV....

1986: IIIIII....IV....

1987: IIIIII....IV....

1988: IIIIII....IV....

713.0732.4748.0762.9

777.1792.0808.1815.2

818.8829.5841.0840.9

872.7890.6905.2923.9

956.3973.4

1,002.51,044.3

1,084.31,104.61,132.31,169.6

1,178.51,190.61,216.51,228.2

1,228.61,256.51,315.51,355.6

1,403.41,425.61,452.71,483.9

1,533.51,596.91,654.81,685.9

1,724.41,821.41,870.31,936.9

1,986.72,023.22,072.12,107.1

2.161.92,150.52,201.02,300.8

2,388.42,415.22,483.12,487.2

2,483.12,514.02,528.42,548.2

2,599.12,685.52,741.82,851.5

2,962.1

3,047.33,096.1

3,161.53,209.23,252.43,312.8

3,363.43,394.53,419.33,473.1

3,550.53,616.43,694.83,799.9

3,853.63,933.64,005.74,097.4

504.5518.0531.9544.5

556.6570.4587.4599.1

609.5615.0623.4625.2

642.2654.1664.5676.7

701.4716.9731.2755.4

783.5802.4821.4844.0

861.7882.1904.4917.0

919.4931.0957.2987.1

1,021.71,045.11,069.11,095.6

1,124.01,160.51,192.71,229.3

1,263.81,311.51,348.81,392.8

1,438.11,469.61,508.41,549.5

1,590.41,611.81,643.51,707.2

1,759.11,789.71,827.31,853.6

1,879.21,899.31,918.41,931.1

1,958.81,995.02,036.32,092.7

2,152.92,195.22,234.92,272.7

2,314.82,347.52,381.22,426.7

2,463.82,487.22,523.32,571.2

2,615.02,656.62,709.82,778.7

2,819.42,878.92,935.12,997.2

454.1465.9478.3489.4

499.0511.3526.4536.4

545.0549.0555.6556.3

570.1580.2588.6598.9

617.8630.4642.3664.2

683.2700.0716.1735.3

748.1765.2783.0792.4

791.8800.2821.2845.6

871.1889.2908.3929,8

949.9980.8

1,007.31,038.0

1,063.01,104.61,136.61,174.0

1,208.11,233.71,266.01,300.0

1,332.91,349.21,375.41,430.3

1,468.71,495.51,528.11,549.0

1,566.11,580.11,594.61,603.7

1,622.21,653.31,689.91,739.4

1,784.21,822.01,858.11,891.1

1,928.61,957.41,987.32,027.4

2,056.92,074.82,104.32,143.1

2,184.42,220.62,266.62,325.9

2,353.42,405.42,452.22,505.1

50.452.153.655.1

57.659.161.062.7

64.566.067.869.0

72.273.975.977.7

83.686.588.991.3

100.3102.4105.3108.7

113.6117.0121.4124.6

127.7130.7136.1141.5

150.6155.9160.8165.8

174.1179.8185.3191.3

200.8206.9212.2218.7

230.0235.9242.4249.5

257.5262.5268.1276.9

290.3294.2299.1304.5

313.1319.2323.8327.4

336.6341.7346.4353.4

368.7373.2376.8381.7

386.2390.1393.8399.3

406.9412.4419.0428.1

430.7436.0443.2452.8

466.0473.5482.9492.0

12.612.712.913.1

12.814.514.916.3

15.614.414.914.1

14.715.515.016.5

15.218.119.524.8

24.732.435.242.5

34.723.225.027.2

21.923.028.628.2

23.320.920.018.1

20.319.421.920.3

22.030.026.629.6

34.235.231.925.8

18.012.122.529.5

33.432.133.723.5

23.323.622.928.5

18.115.9-3.519.3

44.326.123.328.1

34.635.321.829.2

26.244.331.237.2

44.439.833.648.4

44.045.437.732.0

60.662.363.664.0

64.665.065.164.0

64.164.765.967.1

68.270.572.374.4

75.876.880.382.9

86.283.985.286.0

87.690.293.494.0

95.497.4

101.6105.4

111.4115.2117.7124.0

127.3131.2134.1137.2

139.8148.9152.3155.7

157.1159.6162.3161.6

162.8155.3159.5163.0

161.9156.7155.5150.3

143.0149.4151.7159.8

165.9176.4183.0188.6

197.1202.0207.5209.7

218.6222.0227.0235.0

243.2245.2248.5252.0

262,3266.0271.6280.3

279.9286.5289.3296.3

18.718.518.318.1

18.218.718.518.2

18.018.117.818.7

18.318.818.718.5

19.415.418.118.5

18.417.317.818.4

18.716.615.613.6

13.113.913.513.6

13.412.211.210.7

10.08.68.35.9

7.58.2

10.810.6

8.34.03.66.8

6.44.36.39.4

10.612.314.315.9

14.811.912.015.8

13.815.411.212.4

12.39.36.95.6

9.011.28.97.8

9.611.511.713.5

14.713.011.514.3

15.614.616.316.1

87.591.391.592.8

92.389.486.781.2

73.576.976.671.8

84.185.887.890.6

96.596.8

101.4108.0

114.7111.5112.4114.7

106.3104.2100.795.5

96.6108.2129.7136.1

148.3144.3145.0143.2

153.5175.0189.7181.1

174.0199.1203.5212.2

204.8204.1201.9189.5

193.1169.2169.8176.6

194.7184.3192.1180.7

149.9149.6154.3146.1

170.6207.0228.9248.5

262.7275.5262.6266.9

266.0275.8296.1291.4

292.7280.9279.7275,2

279.9293.7313.0308.2

318.1325.3330.9340.2

-4.7-2.9-3.0-4.1

-4.9-5.2-4.9-8.4

-8.8-4.6-6.2-6.6

-3.6-4.7-5.6-4.5

-5.8-5.8-5.8-9.0

-16.1-21.7-19.0-23.4

-33.0-38.3-51.5-35.0

-12.7-7.3

-12.2-11.7

-11.6-15.5-15.9-16.6

-22.3-16.0-10.6-17.7

-21.2-24.5-25.1-30.4

-35.3-40.8-46.2-50.4

-58.7-29.1-41.1-43.5

-34.8-23.4-20.5-18.0

-7.7-10.3-10.0-13.4

-5.9-10.6-19.0-8.1

-15.5-5.0-1.1-1.6

-2.6-1.2

3.7-6.6

16.810.97.3

-8.0

-15.9-20.0-19.4-20.4

-20.7-28.8-30.4-20.1

5.55.45.25.2

5.86.16.26.1

5.85.35.04.7

4.24.34.54.4

5.35.16.1

6.55.95.66.8

5.63.81.7

-2.0

-4.3-5.7-6.9-8.1

-9.4-10.6-10.5-9.9

-9.6-9.3-8.1-8.9

-9.7-10.6-11.7-11.8

-12.9-14.0-14.1-14.9

-15.1-16.4-17.6-17.9

-13.5-14.2-14.5-15.3

-14.1-11.1-7.3

6.715.820.525.1

24.529.035.242.3

52.460.063.663.0

59.754.951.649.1

49.350.351.552.4

49.948.946.941.5

86.788.889.291.6

91.488.685.483.5

76.576.277.873.6

83.586.188.990.7

97.097.6

101.1110.2

124.3127.3125.8131.3

133.7138.7150.6132.5

113.5121.1148.7156.0

169.4170.5171.4169.8

185.4200.3208.4207.7

204.9234.2240.3254.4

253.0258.9262.3254.7

267.0214.8228.5238.1

243.0222.0227.1214.0

171.7171.0171.6164.1

169.7201.8227.5231.5

253.7251.4228.5226.1

216.3217.0228.7235.0

216.2215.2220.8234.1

246.4263.4281.0276.2

288.8305.3314.4318.8

48.449.649.851.0

49.948.346.645.4

42.242.042.540.1

46.247.851.352.8

56.857.359.764.7

75.277.577.880.9

85.087.493.582.4

71.175.691.797.3

104.3106.0107.1106.7

118.4127.1132.5131.7

133.9149.0153.8163.1

164.0169.7173.8169.5

170.4140.7147.8150.2

154.3141.8144.4141.0

107.5107.0107.3104.3

110.6126.6141.0143.4

152.5151.2141.4139.2

122.8124.2129.2135.2

112.9111.2115.9121.0

131.4139.4148.3148.9

159.9166.9173.2175.6

29.129.729.930.5

32.534.035.536.4

38.040.442.544.0

45.146.046.847.3

47.949.552.054.6

56.757.160.364.1

69.474.277.581.0

82.383.084.985.2

85.288.089.792.3

98.5102.3108.1112.1

117.3123.7128.2136.1

144.2150.8164.1174.0

191.1197.8199.5215.0

228.8240.1260.3263.2

273.0280.2269.1266.9

272.1275.8285.9290.2

292.8301.0312.2313.1

318.4317.4317.4322.7

327.9325.4324.9324.0

334.2347.2355.3370.0

376.6383.0396.4415.7

679.6699.7717.2732.5

745.5764.5783.7798.2

808.4829.6840.3848.9

866.9889.4901.9918.0

945.6961.9987.8

1,031.0

1,057.11,084.11,113.41,152.2

1,169.91,191.61,228.51,250.6

1,260.01,292.01,332.11,369.4

1,405.21,431.81,465.71,502.8

1,541.01,583.21,631.41,674.3

1,716.51,788.21,842.21,902.7

1,954.61,998.62,063.72,119.0

2,181.02,202.32,278.52,372.3

2,440.82,484.52,567.52,590.9

2,614.32,655.92,683.62,729.2

2,753.12,812.62,846.82,941.8

3,034.13,074.83,137.83,188.3

3,263.03,307.63,331.73,399.1

3,457.03,509.93,540.23,597.8

3,673.63,732.73,795.53,908.7

3,948.54,026.64,097.64,185.2

88.492.2

102.8107.3

114.0117.5115.9117.7

117.3118.5113.9115.2

112.4115.3117.7123.6

138.4140.7142.5146.3

146.1148.1153.5160.2

163.3169.5175.7178.5

179.6143.7176.4182.7

187.2195.0202.5210.3

223.1224.2227.4237.8

241.6253.8268.5280.6

288.0297.1310.8322.7

323.4332.5344.4361.9

375.2388.7405.6403.9

407.1414.1405.0411.1

407.4417.1403.6413.9

422.3432.1446.7459.7

498.4456.8491.7499.6

497.8503.5515.9534.4

530.8594.6572.0589.2

572.2590.7585.9597.8

591.3607.5614.3625.2

631.5647.0667.7680.5

691.1711.1726.5733.7

754.5774.1784.2794.4

807.2821.2845.3884.6

911.0936.1959.9992.1

1,006.51,022.11,052.81,072.0

1,080.41,148.31,155.71,186.7

1,218.01,236.81,263.21,292.5

1,317.91,359.01,404.01,436.4

1,474.91,534.31,573.61,622.1

1,666.61,701.51,752.91,796.3

1,857.61,869.81,934.12,010.3

2,065.62,095.82,162.02,187.0

2.207.22,241.82,278.62,318.1

2,345.72,395.42,443.22,527.9

2,611.82,642.82,691.12,728.6

2,764.62,850.72,840.02,899.5

2,959.23,006.53,024.33,063.4

3,142.83,138.13,223.53,319.4

3,376.43,435.93,511.73,587.4

546.3560.2576.5585.5

597.6609.2619.5631.5

642.7652.9664.7671.1

690.0703.9715.9732.0

749.1767.4785.7810.7

835.3850.9869.8887.1

904.7932.8960.7968.4

992.71,021.61,055.01,083.3

1,118.31,138.21,167.61,203.3

1,241.51,270.01,302.11,340.9

1,367.31,427.71,463.11,506.1

1,543.71,581.21,635.31,684.8

1,730.41,736.91,797.61,859.4

1,913.41,948.81,994.92,015.5

2,052.22,080.12,122.62,174.9

2,206.22,274.42,326.72,382.5

2,430.72,490.02,525.92,571.3

2,635.82,682.92,746.82,787.7

2,823.32,851.52,917.72,961.4

3,006.93,082.13,149.93,177.6

3,244.43,301.93,362.13,424.0

45.047.337.839.8

33.937.848.248.9

48.558.261.762.5

64.470.368.362.4

58.153.859.673.9

75.785.290.1

105.0

101.889.292.1

103.6

87.7126.7100.7103.4

99.798.695.689.2

76.488.9

101.995.6

107.6106.6110.5116.0

122.8120.3117.6111.5

127.3132.9136.5150.9

152.2147.0167.0171.6

155.0161.7156.0143.1

139.5121.1116.4145.4

181.1152.8165.2157.3

128.7167.893.3

111.7

135.9155.0106.6102.0

135.955.973.6

141.8

131.9134.0149.6163.4

8.3

10.18.7

8.7

6.97.0

4.3

4.6

1,530.51,554.71,555.11,565.1

1,566.41,584.71,617.51,630.6

1,638.01,666.21,686.21,682.1

1,708.11,731.91,734.21,739.6

1,750.91,767.61,801.51,869.4

1,893.21,907.61,922.21,942.1

1,907.21,888.31,898.61,892.4

1,873.11,965.71,935.01,953.1

1,983.11,992.82,005.92,022.2

2,026.92,049.62,086.92,102.8

2,128.22,162.72,176.42,202.0

2,216.62,206.62,213.72,213.7

2,225.62,185.72,207.22,238.8

2,242.92,235.02,262.92,253.7

2,245.72,260.92,263.42,276.1

2,288.42,311.12,335.42,392.7

2,446.92,456.62,479.22,496.3

2,509.42,563.52,535.42,562.8

2,609.22,648.62,637.32,646.2

2,672.32,632.52,675.62,726.2

2,757.22,773.32,806.42,835.9

NOTE.—IVA=Inventory valuation adjustment; CCAdj,=Capital consumption adjustment; DPI=Disposable personal income.



Constant-Dollar Inventories, Sales, and Inventory-Sales Ratiosfor Manufacturing and Trade: Revised Estimates, 1986:1-1989:11

The constant-dollar inventories, sales, and inventory-sales ratios havebeen revised beginning with 1986 to incorporate new source data. Theconstant-dollar inventories through the first quarter of 1989 are consistentwith the revised inventory estimates in the July 1989 issue of the SURVEYOF CURRENT BUSINESS. The constant-dollar sales have been revised to beconsistent with the inventories.

Tables 1, 2, and 3 present quarterly and monthly constant-dollar in-ventories, sales, and inventory-sales ratios, respectively. Table 4 presents

quarterly fixed-weighted constant-dollar inventory-sales ratios, i.e., ratiosobtained by weighting detailed industry ratios by 1982 sales. Table 5presents quarterly and monthly inventories for manufacturing by stage offabrication.

Quarterly constant-dollar manufacturing and trade inventories, sales,and inventory-sales ratios were published for 1976-82 in the February1986 SURVEY, for 1983 in the September 1986 SURVEY, for 1984 in theSeptember 1987 SURVEY, and for 1985 in the September 1988 SURVEY.

Table 1.—Manufacturing and Trade Inventories in Constant Dollars, Seasonally Adjusted, End of Period[Billions of 1982 dollars]

Manufacturing and trade

Manufacturing

Durable °oods ... .. . . . . .Primary metalsFabricated metalsMachinery, except electricalElectrical machinery .Transportation equipment

Motor vehicles . .Other * ...

Other durable goods '

Nondurable goodsFood and kindred products ,Nonfood

Paper and allied productsChemicals and allied productsPetroleum and coal productsRubber and plastic productsOther nondurable goods 2 .

Merchant wholesalers

Durable goods . . . . ....Nondurable goods

Groceries and farm productsOther nondurable goods .

Retail trade . .

Durable goodsAuto dealersOther durable goods

Nondurable goodsFood stores , ,Other nondurable goods

I

646.3

319.5

208.219.822.844935750.710740.034.2

111.423.188.398

25.715.47.7

297

152.2

97 354919.735 3

174.6

87844.443.5868182686

19

II

647.2

320.3

207.219.423.143936150.810.740.134.0

113.123.289.999

26.017.07.6

294

153.1

98454819.635 1

173.8

87.243.643.6866180686

86

III

645.0

317.0

205918423.143636150.610540.134.2

111.123.088.199

25.815.57.6

293

156.6

100256419.6368

171.4

84039.444.6874183692

IV

641.6

315.5

204.518522.942935.849.910.839.134.6

111.022.988.099

26.414.47.7

296

154.8

98 556318.937 5

171.2

83739.943.887 6180695

, I

645.7

314.1

203.617.623.042.235.750.411.539.034.7

110.522.987.610126.013.67.7

302

155.0

99 155918.6373

176.6

88344.443.9884183700

19

II

649.8

313.2

203.317.122.542.335.851.011.339.634.7

109.923.386.610125.413.07.7

305

156.2

100255919.0369

180.5

91 145.445.789418371 1

87

III

652.2

315.5

204.817.122.842.335.852.011.640.434.8

110.723.487.310 125.613.27.9

306

155.2

98 756519.037 5

181.5

91 545.645.990018 271 8

IV

664.7

318.8

207.217.422.742.936253.211 042.334.8

111.623.288.410226.013679

308

1595

101 7579193385

1864

95548047590918 3726

I

670.2

321.8

209.017.422.643.835.954.211.043.335.0

112.823.189.710026.514.78.0

305

164.1

104959219.4397

184.4

92344.348.1920186734

19

II

675.3

322.8

210.216.822.144.935.655.611.044.635.2

112.623.389.399

26.114580

308

165 1

104061 1209402

1874

95346 848592 118 573 7

88

III

681.9

324.3

212.117.122.346.535.755.110.944.235.4

112.222.689.610026.514183

307

166.9

107 1598203395

1907

984489495923184739

IV

688.0

327.3

215.417.222.247.036.356.711.245.535.9

111.923.388.710 126.713.584

299

1670

1070600199400

1936

1008506503928185744

19

I

690.5

328.3

217.517.422.346.936.558.711.647.135.6

110.822.987.999

27.013.885

28 8

1665

107459 1187404

1957

102352 849593418 275 2

89

II

694.5

330.4

218517.922.146536.160.111.548.735.7

111.922.989.010027414085

290

1678

109 158 718 140 6

1964

101 252049295218 5767

Jan.

691.1

328.8

217.317.322.347.336.657.911.646.335.9

111.523.188.410 126613985

293

1674

1079596196400

1948

101 951 850 1929184745

Feb.

690.8

328.3

217.317.422.247.136.758.311.646.735.7

110.923.087.999

26613884

292

1669

108058919039 9

1955

102252349993418 375 1

Mar.

690.5

328.3

217.517.422.346.936.558.711.647.135.6

110.822.987.999

27 013885

28 8

1665

107459 1187404

1957

102 352 849 593 418 2752

1989

Apr.

691.1

329.1

217.917.522.346.636.859.111.547.535.6

111.323.288.19 8

27213885

28 8

167 I

108 558 618540 1

1949

101 352648 893 518 375 2

May

693.0

329.6

218.417.822.246.636.759.711.648.135.5

111.122.888399

2741368 5

29 0

1678

109 558 318439 9

1956

100851 849094 818 576 3

June

694.5

330.4

218.517.922 146.536.160.111.548.735.7

111.922989.01009741408 5

290

1678

109 158 718 140 6

1964

101 252049 295 218 5767

July "

697.8

333.3

221.018.222.346.736.561.412.249.235.9

112.323.089210 12751378 6

294

1676

109458217 3409

1969

101 252 149 195 718 677 1

See footnotes to table 4.

Table 2.—Manufacturing and Trade Sales in Constant Dollars, Seasonally Adjusted Total at Monthly Rate[Billions of 1982 dollars]


Manufacturing

Durable goodsPrimary metals . . . . . . .Fabricated metals ....Machinery, except electricalElectrical machinery ,Transportation equipment

OtherOther durable ffoods ' .

Nondurable goods . ..

NonfoodPaper and allied productsChemicals and allied productsPetroleum and coal products...Rubber and plastic productsOther nondurable °oods 2 . .


Nondurable goodsGroceries and farm productsOther nondurable eoods

Retail trade

Durable goodsAuto dealersOther durable goods

Nondurable goodsFood storesOther nondurable goods

I

415.5

188.3

9839.0

10.922.214.823.31478.6

18.1

90.024365.77.4

15.718.05.7

18.9

113.5

508627258369

1J3.7

42123818.371.622.948.7

19

II

422.4

191.0

9958.8

11.122.815.023.71479.0

18.2

91.424467.17.6

15.818.85.9

19.0

115.2

51 5636256380

116.2

43.624619.072.622.949.7

86

III

428.8

190,1

9898,5

11.022.015.224.01469.4

18.2

91.124566.67.8

15.818.35.8

18.9

118.9

52 166826740 1

119.8

47027419.672.722.750.1

IV

432.1

192.1

10038.5

10.922.315.524.714610.018.4

91.824867.07.8

16.018.15.9

19.1

120.1

52867326441 0

119.9

46.726720.073.222.950.3

I

433.3

194.5

102.18.6

10.923.215.524.715.19.6

19.2

92.525.167.47.9

16.317.66.4

19.2

121.0

53.467.626.341.4

117.8

44.424120.373.422.950.5

19

II

437.7

196.1

103.08.9

10.724.115.924.214.49.8

19.3

93.125.068.0

8.016.717.56.3

19.5

121.7

54.067.726441.3

119.9

46.325920.473.622.850.8

87

III

443.2

198.7

104.99.3

10.525.416.423.713.610.019.7

93.825.568.38.3

16.817.46.2

19.6

122.4

54.767.726.940.8

122.0

48327520.873.722.8509

IV

444.3

202.2

107.79.9

10.525.816.624.91509.9

20.0

94.525868.78.4

17.117.36.5

19.4

121.2

542670262408

121.0

47326420.8737227510

I

448.9

203.4

108.59.3

10.726.716.725.214.910.319.8

94.926.168.88.3

17.117.76.6

19.1

121.9

54.267.726441.3

123.7

49.527921.674.222.951.2

19

II

454.7

208.0

111.69.6

11.028.016.926.116010.120.0

96.326.569.88.4

17.318.06.7

19.4

122.2

556666261405

124.5

50227922.3744232512

88

III

456.9

209.1

112.49.6

10.628.617.326.316010.319.9

96.726.770.08.4

17.517.96.9

19.3

122.7

56.466425441 0

125.1

49627522.1755232522

IV

463.5

212.4

115.09.7

11.128.217.328.017.510.520.5

97.427.070.48.5

17.617.87.1

19.5

124.3

579664260404

126.8

50828422.4760232528

19

I

460.9

209.7

112.19.4

11.526.217.327.417.210.220.2

97.627.570.18.4

17.317.87.1

19.6

124.9

58.466.626.1405

126.3

50327422.876.0234526

89

II

463.5

210.7

112.79.5

11.626.717.627.416.710.620.1

98.027.670.38.3

17.517.97.1

19.6

126.1

58068 126541 6

1267

51 127723.4756233524

Jan.

465.0

212.4

114.09.6

11.626.017.628.218.110.120.9

98.427.570.9

8.517.517.67.5

19.8

125.7

59.366426 1404

1268

50727722.976.2234528

Feb.

460.2

209.1

111.49.5

11.526.217.027.217.010.120.0

97.727.470.3

8.317.218.07.0

19.7

124.8

582666262404

126.3

50127222.976.2235527

Mar.

457.6

207.6

110.99.2

11.526.517.326.816.410.419.6

96.727.669.28.3

17.017.76.8

19.2

124.2

576666259408

1258

50027 322.7'75.7233525

1989

Apr.

464.8

212.1

113.49.5

11.626.517.928.017410.520.1

98.727.571.28.3

17.518.47.1

19.9

126.3

57.968426641 8

1264

50927 823.1754232522

May

463.5

210.6

112.99.5

11.626.617.527.617.110.520.1

97.727.869.98.3

17.517.57.2

19.5

126.0

58567526441 i

1269

51.227623.6757233524

June

462.2

209.3

111.89.5

11.526.917.426.515710.820.0

97.527.669.98.3

17.517.87.0

19.3

126.0

575685265420

1269

51 127 623.4758233526

July

458.2

205.8

108.59.6

11.526.017.124.313.910.419.9

97.427.270.2

8.217.917.67.0

19.4

124.8

57767025841 3

1276

51328 123.276.3235528




Table 3.—Constant-Dollar Inventory-Sales Ratios for Manufacturing and Trade, Seasonally Adjusted[Ratio, based on 1982 dollars]


Manufacturing

Durable °oods .. . . .Primary metals . . . .Fabricated metalsMachinery except electricalElectrical machinery . . .Transportation equipment

Motor vehiclesOther

Other durable goods '

Nondurable goods... . ...Food and kindred productsNonfood

Chemicals and allied productsPetroleum and coal products..Rubber and plastic products .Other nondurable goods 2 . .. . . .


Durable CToodsNondurable goods

Groceries and farm productsOther nondurable CToods

Retail trade

Durable °oodsAuto dealersOther durable goods . . .

Nondurable goodsFood storesOther nondurable goods

I

156

1.70

2 122212 102032412 18

734681.89

1 2495

1.341 321.64.86

1 351 57

1.34

1 9188.76.96

1.54

2091 872381 21

791 41

19

II

1.53

1.68

2082.202091932412 14

734471.87

1.2495

1.341 301.65.90

1 30155

1.33

19186.77.92

1.50

2001 772301 19

791 38

86

III

1.50

1.67

2082152101.98237211

724281.88

1.2294

1.321 281.63.84

131155

1.32

19285.74.92

1.43

1791 442271 20

811 38

IV

1.49

1.64

2.042.172091.92230202

743901.88

1.2192

1.311 281.65.79

1.301 55

1.29

1 8784.72.92

1.43

1791492191 20

791 38

I

1.49

1.62

2.002.062 111.822.31204

764061.80

1.2091

1.301 281.60.77

1 201.57

1.28

1 8683.71.90

1.50

1991 842 171 20

801 39

19

II

1.49

1.60

1.971.922.101.762.25211

794061.80

1.1893

1.271 261.52.74

1.211.56

1.28

1 8683.72.89

1.51

1 971 752241 21

801 40

87

III

1.47

1.59

1.951.832 181 672 18220

854041.77

1.1892

1.281 221.52.76

1281.56

1.27

1 8084

.7192

1.49

1 891 662211 22

801 41

IV

1.50

1.58

1.921762 161 672182 14

734251.74

1.1890

1.291 211.52

79121159

1.32

1 88867494

1.54

2021 822281 23

811 42

I

1.49

1.58

1931.872101.642.15215

744211. 11

1 1989

1.301 211.55.83

122160

1.35

1 9487.7496

1.49

1 871592231 24

811 43

19

II

1.49

1.55

1 881752011 602 11213

694411.76

1 1700

1.281 18151

811 19158

1.35

1 87928099

1.51

1 901.682 171 24

801 44

88

III

1.49

1.55

1.891.772 101 63206209

684281.78

1.1685

1.281 191.52.79

121159

1.36

1 9090.8097

1.52

1 981 782241 22

791 42

IV

1.48

1.54

1 87177200167209202

644331.75

1 1586

1.261 201 51

761 191 54

1.34

1 85907799

1.53

1 991 782251 22

801 41

19

I

1.50

1.57

1.941.841941792112 14

674611.76

1.14.83

1.251 171.57

771 191 47

1.33

1 848972

100

1.55

2041 932 171 23

781 43

89

II

1.50

1.57

1941 89191175206220

684591.78

1.1483

1.271 211 57

781 201 48

1.33

1 88866898

1 55

1 981 882 101 26

791 46

Jan.

1.49

1.55

1.911 811921 822.08205

644561.72

1.1384

1.251 19151

791 131 49

1.33

1 82907599

1.54

2011 872 191 22

791 41

Feb.

1.50

1.57

1.951 831941 802152 15

684611.78

1.1484

1.251 19154

771201 48

1.34

1 86897399

155

2041 922 181 23

781 43

Mar.

1.51

1.58

1.961 891941.772 11219

704531.81

1.1583

1.271 181 59

781241 50

1.34

1 87897299

1 56

2051 932 181 23

781 43

1989

Apr.

1.49

1.55

1921 851931762062 11

664521. 11

1.1384

1.241 18156

75L191 45

1.32

1 87867096

154

1 991 892 111 24

791 44

May

1.50

1.57

1 931 881921752102 16

684571.76

1 1482

1.261 201 57

781 181 49

1.33

1 87867097

154

1 971 882081 25

791 46

June

1.50

1.58

1951 891 91173208227

734501.79

1 1583

1.271 221 57

791 221 50

1.33

1 90866897

1*55

1 981 882 101 26

791 46

July"

1.52

1.62

2.04189194179213253

00

4741.81

1.1585

1.271 231 54

781 221 51

1.34

1 90876799

154

1 971 852 121 26

791 46


Table 4.—Fixed-Weighted Constant-Dollar Inventory-Sales Ratios for Manufacturing and Trade, Seasonally Adjusted[Ratio, based on 1982 dollars]

Manufacturing and trade ....

Manufacturing . . . .

Durable goods ...Nondurable goods

Merchant wholesalers . .... •

Durable goods . . . .Nondurable goods . ....

Retail trade ..

Nondurable goods

I

1.54

1.70

2.191.25

1.33

1.96

1.462.101.17

19

II

1.51

1.68

2.141.25

1.32

1.95.87

1.42

2.021.14

86

in

1.49

1.67

2.131.23

1.32

1.98.86

1.36

1.811.15

IV

1.47

1.63

2.071.22

1.28

1.90.84

1.36

1.811.15

I .

1.47

1.62

2.051.21

1.27

1.88.83

1.42

1.991.16

19

II

1.46

1.59

2.011.19

1.27

1.89.82

1.42

1.971.17

87

III

1.44

1.57

1.981.19

1.24

1.83.83

1.40

1.901.17

IV

1.46

1.57

1.971.19

1.29

1.91.85

1.45

2.031.18

I

1.46

1.58

1.971.21

1.32

1.95.86

1.41

1.871.19

19

II

1.45

1.55

1.941.18

1.32

1.89.91

1.42

1.911.20

88

III

1.45

1.55

1.941.18

1.32

1.91.90

1.43

1.991.18

IV

1.44

1.53

1.931.16

1.29

1.85.90

1.43

2.011.17

19

I

1.46

1.56

1.991.16

1.28

1.85.87

1.45

2.061.18

89

II

1.45

1.56

1.981.16

1.28

1.87.86

1.45

2.001.20

p Preliminary1. Includes lumber and wood products; furniture and fixtures; stone, clay, and glass products; instruments and related products; and miscellaneous manufacturing industries2. Includes tobacco manufacturers; textile mill products; apparel products; printing and publishing; and leather and leather products.

NOTE.—.Manufacturing inventories are classified by the type of product produced by the establishment holding the inventory. Trade inventories are classified by the type of product sold by the establishment holding theinventory

Table 4: The I-S ratios shown in this table were obtained by weighting detailed industry I-S ratios by 1982 sales. For manufacturing, 21 industries were used; for merchant wholesalers, 20 kinds of business; and for retailtrade, 8 kinds of business.

Data Availability

Quarterly and monthly constant-dollar manufacturing and trade inventories, sales, andinventory-sales ratios, as well as constant-dollar manufacturing inventories by stage of fabrica-tion, for 1967-88, are available on printouts and computer tape. To order, write to Economic andStatistical Analysis/BEA, U.S. Department of Commerce, P.O. Box 100606, Atlanta, GA 30384.Specify Constant-Dollar Manufacturing and Trade Inventories, Sales, and Ratios (Accession No.BEA NIW 88-210 for printouts or BEA NIW 88-430 for computer tape), and include a check ormoney order for $35.00 for printouts or $100.00 for computer tape, payable to "Economic andStatistical Analysis/BEA."



TaMe 5.—Manufacturing Inventories by Stage of Fabrication in Constant Dollars, Seasonally Adjusted, End of Period


Materials and supplies

Manufacturing

Durable goodsPrimary metalsFabricated metals . . ,

Electrical machineryMotor vehicles .... .,Other transportation equipment , ......Other durable goods

Nondurable goods ,

Chemicals and allied products „

Other nondurable goods ,

Work-in-process

Manufacturing

Durable goods . . .Primary metals .... .Fabricated metals . . . . .Machinery except electrical .Electrical machinery

Other transportation equipment .Other durable goods ,

Food and kindred productsPaper and allied productsCheratieals and allied productsPetroleum and coal products .,Rubber and plastic products „ ,Other Nondurable goods ..

Finished goods

Manufacturing

Fabricated metals , ,Machinery, except electrical , ,Electrical machinery ,Motor vehicles ,Other transportation equipment. ,Other durable goods

Nondurable goods ,Food and kindred products ....Paper and allied productsChemicals and allied products ...... , ,

Other nondurable goods ... » .

I

106.5

61.06.08.7

12.29.84.87.4

12.2

45.58.95.28.65.73.2

13.8

112.5

94.87378

1901833.9

2939.2

17.72.41 i4.42,91.158

100.6

52.46.56.3

13.7762133

12.9

48211 835

1276.83.4

100

19

II

106.6

61.05.88.9

12.29.94.87.4

12.0

45.69.05.29.25.63.1

13.5

112.5

94.37.18.0

1871833.8

2939.0

18.22.41 i4.43.41.160

101.2

51.96.46.3

13.07.92133

12.9

49.311 g36

1258,03.5

100

86

III

105.8

60.65.58,5

12.39.8'4.97.6

12.0

45.19.15.29.35.23.2

13.2

110.9

93.37.080

1821833.6

2919.1

17.62.41 i4.42.71.158

100.3

52.05.86.5

13.1802134

13.0

48311 536

12 17.53.4

103

IV

105.7

60.55.68.5

12.19.54.77,9

12.3

45.28.95.29.34.83.1

13.8

109.5

91.87.28.0

17.718.23.9

2799.1

17.72.31 i4.62.51.160

100.3

52.25.86.4

13.18.12.23.4

13.2

48 111.736

1257.13.498

I

104.8

60.35.38.4

12.19.65.27.4

12.3

44.59.05.39.24.13.1

13.8

109.2

91.26.98.1

1731783.9

2829.1

17.92.3124.62.41.164

100.1

52.05.46.5

12.98.22.43.3

13.3

48 111737

1227.13.5

100

19

II

105.3

60.45.08.3

12.39.75.27.4

12.5

44.99.15.38.94.03.2

14.3

109.4

91.76.87.8

17718.03.8

2888 8

17.82.4124.52.31.064

98.4

51.25.46.3

12.38.02.43.4

13.3

47211 836

1206.63.49 g

87

III

105.5

59.84.88.4

12.39.65.17.2

12.5

45.79.55.49.04.23.3

14.3

111.0

93.26.77.9

17.818.14.0

2979.0

17.72.31 i4.42.41.065

99.1

51.85.66.5

12.38.22.43.4

13.4

47311 636

1226.63.59 8

IV

105.7

60.24.98.5

12.79.54.97.2

12.6

45.59.25.49.14.23.3

14.3

112.5

94.57.08.0

17.118.23.8

31.48.9

18.02.31 14.42.71.164

100.7

52.55.56.2

13.18.42.33.7

13.3

48 111 736

1256.73.5

10 1

I

106.9

60.75.18.4

12.89.54.87.3

12.9

46.29.25.49.44.73.4

14.2

113.5

95.36.87.9

17.618.03.7

3239.0

18.22.21 14.62.81.163

101.4

53.05.56.3

13.58.42.53.7

13.1

48411 835

1257.23.5

100

19

II

106.6

60.84.98.3

12.89.44.97.5

13.0

45.99.25.49.44.43.4

14.1

114.6

96.76.77.7

18.217.83.8

3349.1

17.92.21 i4.42.61.164

101.6

52.85.26.2

13.9842338

130

48811 93 4

12 37.53.4

103

88

III

107.7

61.74.98.2

13.49.64.97.6

13.1

45.98.95.59.44.43.6

14.2

113.9

96.06.97.8

18.317.73.7

3279.0

17.82.21 i4.42.71.163

102.8

54.35.36.2

14.88.52339

133

48411 534

1277.036

102

IV

106.3

61.14.98.2

12.99.84.57.6

13.3

45.28.75.59.54.03.5

13.9

116.6

98.87.08.0

18517.74.1

3439.2

17.92.21 i4.62.71.162

104.4

55.55.46.1

15.6882637

134

4891233 5

125693898

19

I

105.8

62.04.98.4

13.39.84.77.6

13.2

43.88.55.39.53.83.5

13.1

118.4

100.27.17.8

18.618.13.9

35.69.1

18.22.21 i4.62.81.16.3

104.1

55.25.36.1

15.08.72.939

13.3

4881223 5

1297.13894

89

II

104.8

61.25.18.2

12.99.54.77.7

13.2

43.58.35.49.53.93.4

13.1

120.4

102.17.47.7

19.217.93.9

37.19.0

18.32.11 i4.62.91.164

105.1

55.15.46.3

14.4882839

135

5001253 6

13 3724095

Jan.

106.2

61.74.88.3

13.29.84.67.5

13.3

44.58.75.59.53.93.6

13.4

117.2

99.17.07.9

18.517.84.1

34.79.2

18.02.21 i4.62.81.163

105.5

56.65.56.1

15.68.9304.1

13.4

48912235

125723897

Feb.

106.1

61.94.98.4

13.29.84.77.6

13.3

44.28.55.49.53.83,6

13.4

117.1

99.37.07.8

18.518.04.0

3509.1

17.82.21 i4.52.71.163

105.1

56.25.46.1

15.389304 1

133

48 91233 5

1267 23 89 6

Mar.

105.8

62.04.98.4

13.39.84.77.6

13.2

43.88.55.39.53.83.5

13,1

118.4

100.27.17.8

18.618.13.9

35.69.1

18.22.21.14.62.81.163

104.1

55.25.36.1

15.08.72939

133

4881223 5

1297 13894

1989

Apr.

105.1

61.65.08.3

13.19.74.87.6

13.2

43.58.55.29.63.73.5

13.0

119.9

101.57.37.8

19.018.33.9

36.19.1

18.42.21 14.72.91.163

104.1

54.85.36.2

14.5892939

133

4931243 5

P97 i3 89 5

May

104.6

61.35.08.2

13.09.64.77,6

13.1

43.38.35.39.53.73.4

13.1

120.2

102.17.47.7

19.218.33.9

36.59.0

18.12.11 i4.62.81.16.3

104.8

55.15.46.2

14.3893039

134

4971243 5

13 27 23 99 6

June

104.8

61.25.18.2

12.99.54.77.7

13.2

43.58.35.49.53.93.4

13.1

120.4

102.17.47.7

19.217.93.9

37 19.0

18.32.11 i4.62.91.164

105.1

55.15463

1448 82839

13 5

50012536

13 372409 5

July

105.6

62.05.18.2

13,09.74.97.7

13,3

43.68.35.49.4**3.5

H.2

121.9

103.47.57.8

19.418.04.3

37.58.9

18.52.21 i4.72.91.165

105.8

55.65663

143883040

136

50212636

13 37 1409 6



Comprehensive Informationon the Economy

The SURVEY OF CURRENT BUSINESS is a comprehensive source for estimates and analysis on the U.S. economy. It is the monthlyjournal of record not only for the headline-making numbers that influence decisionmakers in business and government—GNP,personal income (both regional and national), U.S. merchandise trade, and corporate profits, to name a few—but also for thestatistical detail and methodology that underlie those numbers. In addition it carries, from over 100 sources, the latest estimatesfor 1,900 time series on practically all aspects of the economy. So if you need to know about the state of the Nation's economy,in detail, month by month, the SURVEY OF CURRENT BUSINESS is the source.

Order Processing Code

*6388

Superintendent of Documents Subscriptions Order FormCharge your order.

It's easy!

Please send me the following indicated subscription:

subscription(s) of SURVEY OF CURRENT BUSINESS, SCUB, for $18.00 per year (second class),$22.50 (foreign), or $43.00 (domestic first class).

1. The total cost of my order is $_

Please Type or Print

2.

. All prices include regular domestic postage and handling and are subject to change.

(Company or personal name)

(Additional address/attention line)

3. Please choose method of payment:I I Check payable to the Superintendent of Documents

I I GPO Deposit Account I I I -DVISA or MasterCard Account

(Street address)

(City, State, ZIP Code)(Credit card expiration date)

Thank you for your order!

(Daytime phone including area code)(Signature)

4. Mail To: Superintendent of Documents, Government Printing Office, Washington, D.C. 20402-9371

8/89


CURRENT BUSINESS STATISTICS

The statistics here update series published in BUSINESS STATISTICS: 1986, a statistical supplement to the SURVEY OF CURRENT BUSINESS. That volume(available from the Superintendent of Documents for $16.00, stock no. 003-010-00181-0) provides a description of each series, references to sources ofearlier figures, and historical data as follows: For all series, monthly or quarterly, 1983 through 1986, annually, 1961-86; for selected series, monthly orquarterly, 1961-86 (where available).

The sources of the series are given in BUSINESS STATISTICS: 1986; they appear in the main methodological note for each series, and are also listedalphabetically on pages 145-146. Series originating in Government agencies are not copyrighted and may be reprinted freely. Series from private sourcesare provided through the courtesy of the compilers, and are subject to their copyrights.

Unless otherwise stated in footnotes below,data through 1986 and methodological |T ..

notes are as shown in BUSINESS STATISTICS: LI nut,1986

Annual

1987 1988

1988

July Aug. Sept. Oct. Nov. Dec.

1989

Jan. Feb. Mar. Apr. May June July Aug.

GENERAL BUSINESS INDICATORS

PERSONAL INCOME BY SOURCE tSeasonally adjusted, at annual rates:

Total personal income bil $

Wage and salary disbursements,total do

Commodity-producing industries,total do

Manufacturing doDistributive industries do....

Service industries .. . doGovt. and govt. enterprises ."...'.'.'.'.do....

Other labor income do....Proprietors' income: $

Farm do....Nonfarm do

Rental income of persons with capitalconsumption adjustment bil $

Dividends doPersonal interest income ... doTransfer payments doLess: Personal contributions for

social insurance doTotal nonfarm income do

DISPOSITION OF PERSONAL INCOME tSeasonally adjusted, at annual rates:

Total personal income . bil $Less: Personal tax and nontax

payments doEquals: Disposable personal income do...Less: Personal outlays do

Personal consumption expenditures do...Durable goods doNondurable goods . doServices do

Interest paid by consumers tobusiness do....

Personal transfer payments toforeigners (net) do....

Equals: personal saving do....Personal saying as percentage of disposable

personal income § percentDisposable personal income in constant (1982)

dollars bil. $ ..Personal consumption expenditures in

constant (1982) dollars do....Durable goods doNondurable goods doServices do

Implicit price deflator for personal consumptionexpenditures index, 1982 — 100

INDUSTRIAL PRODUCTION <>Federal Reserve Board Index of Quantity Output

Not Seasonally AdjustedTotal index . 1977 100

By industry groupings:Mining and utilities do

Manufacturing . doNondurable manufactures doDurable manufactures do

Seasonally AdjustedTotal index do....

By market groupings:Products, total do ....

Final products do ....Consumer eoods do....

3 777 6

2,249.4

64994903531.9

6483419.2212.8

41.62700

13 4920

52325482

172937147

3777 6

57173,205.9310413,010.8

421 09981

1 591 7

92.1

1.9

101.8

32

2,676.6

2,513.7389 68904

1 2337

1198

129 8

1043

134713681331

129.8

138.3136.8127.8

4064 5

24290

69635240571.9

7144446.52289

39.82880

1571022571 15847

194 940037

4064 5

58663,477.8333313,235.1

45521 05231 727 6

98.9

1.9

144.7

4 2

2,793.2

2,598.4413 6904 5

1 280 2

124 5

137 2

1075

142714391419

137.2

145.9144.3133.9

4 079 8

2,443.4

69965254577.1

7192447.4229.3

41.02885

1561024570 15857

196 14017 9

40798

58433,495.53340 13,242.0

44901 059 11 734 0

96.2

1.9

1554

4 i

2,803.0

2,599.740899069

1 2839

1247

1363

1083

141 514511389

138.0

146.5145.0134.2

4094 2

2,447.7

70005260577.0

7210449.72311

38.62885

165103 95760587 9

19594034 6

4094 2

58433,509.9337423,275.4

45691 06881 749 7

96.9

1.9

1357

43

2,807.6

2,620.041429144

1 291 4

1250

1417

112.6

147 2151 71440

138.5

147.3145.8135.0

4 1186

2,465 6

705 15301580.0

7287451.82329

33.42909

167104758305887

197 24064 1

4 118 6

589 13,529.53371 83,272.9

451 61 07081 750 4

97.0

1.9

1577

44

2,808.7

2,604.5409 19097

1 285 6

1257

1430

1079

149 615281473

138.6

147.4145.8134.8

41804

2,497.1

71635407585.9

7410453.9234.7

47.12958

164105859085922

199 54 1123

4 1804

59623,584.2340603,306.8

45691 07631*773 5

97.3

1.9

178.2

4 6

2,840.6

2,620.8412 1911 2

1 297 5

1262

1422

105.1

149 11512147.6

139.4

148.1146.4136.4

4 1689

2,501 6

71375372586.0

7455456.42365

19.52957

16 110655986593 5

199 14 1284

4 1689

59633,572.63421 93,321.8

46281 08431*774 7

98.1

1.9

1507

4 6

2,826.3

2,627.9417 39180

1 292 6

1264

1393

1066

145414601450

139.9

148.4146.8136.8

4206 3

2,516.7

71405364590.6

7536458.52382

29.42974

16010696064595 6

200 14 1559

42063

60093,605.4344423,343.3

48241 07461 786 3

98.9

1.9

1612

4 5

2,841.0

2,634.54320907 0

1 295 5

1269

1364

1094

141 4141 11416

140.4

149.4147.7138.2

4 273 1

25454

720 6541 4597.3

7628464.62397

48.02996

13 81084616 56107

20904204 0

4 273 1

631 23,641.93467 33,365.6

473 11 093 81*798 7

99.5

2.2

1746

50

2,852.9

2,636.542379157

1 297 1

1277

137 1

1102

1422141 61427

140.8

150.1148.2138.5

4319 5

2,557 3

72435440598.1

7679467.02413

65.93006

11 8109462896142

209 842324

4319 5

621 73,697.8348713,384.7

464 21 09861 821 9

100.2

2.2

2107

56

2,891.9

2,647.0417 2918 1

1 311 7

1279

140 1

1111

145614501460

. 140.5

150.0148.6138.7

43607

2,579 4

73485535601.0

7745469.22429

63.03008

991103641 56242

211 34276 5

4 3607

63193,728.8349693,394.0

461 81 10251 8296

100.7

2.2

231.9

56

2,900.0

2,639.6417 1911 3

1 311 2

1286

139 5

1066

14581456145.9

140.7

150.5148.9138.4

r4 387 1

2,601 3

73255486610.0

7875471.22444

r56.43046

r98111 064846239

2126r4 309 4

r4 387 1

6684'3,718.7r3 534 4r3,432.1

r477 41 11291 841 8

101.0

1.4184.3

r55

r2,874.0r2,652.4

r430 5906 3

1 315 7

1294

1409

1045

147714801475

141.7

, 151.6150.2139.5

r4 396 3

2,603.5

73265490609.1

7883473.6246.0

r54.33035

r9 8111 465526255

21274320 5

r4 396 3

6491r3,747.2r3 547 9r3,445.0

r46651 12671 851 9

101.5

1.4

199.4r54

r2,884.1r2,651.5

r421 3911 7

1 318 4

1299

1402

102.3

14731478146.9

141.6

151.7150.4139.2

r4 417 5

r2,621.7

7361r5520r613.3r7966475.7247.5

r43.2r3046

r97111 86618

r6309

2138r4 352 6

r4 417 5

r6402r3,777.2r3 558 6r3,455.4

r469 11 125 01 861 3

101.9

1.4r218.6

r57

r2,904.5

'2,657.14230

r911 21 322 9

1300

1448

106.1

15201542150.4

141.9

152.3150.9139.6

r4 446 7

r2,645.2

r7401r5541r620.2r806.9r478.0249.1

r37.2r3071

r9711286682

r6323

r2149r4 387 7

r4 446 7

r644.6r3,802.0r3,579.7r3,476.5

r47251,129.81 8743

101.8

1.4r222.4

57

r2,917.9r2,668.1

r4248r9167

1 326 6

130.3

"1403

"106.9P1466"151.8"142.8

"142.0

"152.0"150.4"138.9

44662

2,654.4

74485573617.6

811.8480.2250.7

36.03086

97113367446346

215444084

44662

647.13,819.13,611.73,508.3

49541,126.11 8868

102.0

1.4

207.4

2,933.2

2,694.544439189

1 331 3

130.2

1463

111.4

15301579149.5

142.4

152.3150.8139.0

See footnotes at end of tables.

S-l


8-2 SURVEY OF CURRENT BUSINESS September 1989Unless otherwise stated in footnotes

below, data through 1986 and IT .,methodological notes are as shown in ljims

BUSINESS STATISTICS: 1986

Annual

1987 1988

1988


1989


GENERAL BUSINESS INDICATORS—Continued

INDUSTRIAL PRODUCTION <>-Continued

Seasonally Adjusted— ContinuedBy market groupings— Continued

Final products— Continued

Durable consumer goods 1977 = 100...Automotive products . do

Autos and trucks, consumer do....Autos, consumer do....Trucks, consumer do....

Home goods do

Nondurable consumer goods do. ..Consumer staples do....

Consumer foods andtobacco do

Nonfood staples do....

Equipment doBusiness and defense

equipment doBusiness equipment do ....

Construction, mining,and farm do

Manufacturing doPower doCommercial do ....Transit do

Defense and space equipment do....Intermediate products do....

Construction supplies ... ... doBusiness supplies ... do

Materials doDurable goods materials doNondurable goods materials do....Energy materials do ..

By industry groupings:Mining and utilities do

Mining doMetal mining doCoal doOil and gas extraction # do ..

Crude oil .. doNatural gas do

Stone and earth minerals ... do

Utilities doElectric do

Manufacturing doNondurable manufactures do....

Foods . do

Tobacco products doTextile mill products doApparel products doPaper and products do

Printing and publishing do ...Chemicals and products ... doPetroleum products doRubber and plastics products .... doLeather and products do ...

Durable manufactures doLumber and products do

Furniture and fixtures do....Clay, glass, and stone products.... doPrimary metals do

Iron and steel doNonferrous metals... ... do

Fabricated metal products do ....Nonelectrical machinery do ....Electrical machinery do ...

Transportation equipment . doMotor vehicles and parts do...

Instruments .... do

BUSINESS SALESMfg. and trade sales (unadj.), total t mil. $.Mfg. and trade sales (seas, adj.),

total $ do

Manufacturing, total doDurable goods industries do...Nondurable goods industries do ..

Retail trade, total doDurable goods stores do ...Nondurable goods stores do ..

Merchant wholesalers, total do...Durable goods establishments do . . .Nondurable goods establishments do ...

Mfg. and trade sales in constant (1982)dollars (seas, adj.), total § bil. $ .

Manufacturing doRetail trade doMerchant wholesalers do

120.2118 5115.1

90.7160.5

1216

1306137.4

1363138.5

1489

153 6144.5

622117 9

826226.51084

188.9143.4131 5153 5

11821250125.9998

10431007776

131 8927

100385 5

1282

11031266

1347136.8137 8

103 51159107 41444

1721140 293 5

1636600

133 11303

152.8119 181 370 6

101 6111.0152.7172.3

129 2111.8143 9

5,394,437

1 5 394 4371 2 390 0451,263,4921 126 553

1 1 521 417572,489948 928

1 1,482,975725,683757,292

125.31249122.7

93.4177.0

1256

137 1144.9

1409149.1

1582

163 3157.6

71 9131 3

894245.2115 1

185.8151.5138 6162 5

12521354132.01015

107 51034932

137 992998 586 6

1399

11431320

142 7143.91427

10521162109 115031842151 9960

1744595

141 9137 3

162.1122689 278 1

110 2120.9170.8180.1132 1117.21543

5,829,069

1 5 829 0691 2 611 5891,388,2111 223 378

1 1 629 150628,543

1 000 6071 1,588,330

782,744805,586

125.31244120.8

93.8170.8

1259

1375145.3

141 1149.6

1594

164 6159.3

73 61324

898248.21159

184.9151.613841628

12641368132.81027

108 11043940

141 5933983849

140 2

11441346

143 6144.61433

1006117 110941523

1849153 4950

175459 1

1429136 6

162.9122291 580 2

1127121.7173.1181.5131 9116.6156 4

461,882

r486 289

216 698113,122103 576

135741r52,435r83 306

133,850r65,528r68,322

455.0206912531228

125.7124 2123.1

93.0179.0

1268

1385146.6

141 3152.1

160 1

1652160.2

73 11340

909249.81152

184.9152.3138 1164 4

12651366133.11032

10901038966

137 2932977860

141 3

11781388

1440145.1143 3

105 111641089151 018671548960

175 3594

143 2133 g

164.91226908789

113 3122.1174.1182.2131 g117.51568

495,783

r492 173

221 715117,866103 849

135 732r51,629r84 103

134 72665,50169,225

458.9210 61254122 8

126.31264124.8

97.7175.3

1262

1380145.8

141 1150.7

1604

1656160.8

7431358

922248.71168

184.5152.913841652

12651378132.61015

10721037991

142292097 i84 1

1397

113 01322

144 4145.3143 2

105011621099150 9

18801553937

1753599

1438133 5

164.9122 693 i81 4

115 1122.5174.8181.81327118.5157 8

504,380

492 478

221 395118,030103 365

13575151,42784324

135 33266,29569,037

456.920981246122 5

129.31289128.3101.3178.4

1297

1390147.0

1424151.8

1597

165 1160.2

74 21362

915245.41203

184.0154.014001659

12751389134.71013

1072103 11016138 591595987 4

1428

11391328

145 3146.3144 0

1054117 0109 5151 8188 11567963

176961 0

144 6137 5

164.5123394 283 i

115 0122.6173.8183.0

1348121.7159 9

506,774

498 846

222 917118,439104 478

137 84252,72585 117

138,08767,58170,506

461.721061260125 1

129.2129 5129.5101.0182.4

1289

1397147.9

1437152.2

159 9

165 5161.2

74 51362

921247.01223

182.2154.214071657

12831398135.11023

1081104710461497908969892

144 01137131 6

145 8146.71457

1024117 2110 11507

188 5157 5950

177 561 5

14521394

165.4124792780 8

1152124.6175.4182.2135 2122.9160 4

501,375

501 400

224 632119,874104 758

139 52953,93085599

137 23968,54368,696

463.12108127 61247

131.9134 5138.0105.1199.1

- 1300

1405148.9

144 5153.6

1604

166 2162.6

746137 0

918248.91249

180.5155.0141 41667

12831390136.31026

108910491119155 188995887 0

1494

11541329

1463147.11458

107 0117 9108 8151 7

1880158 1980

177 560 2

14571430

165.4125 190 077 6

113 4125.1177.8180.91368125.5159 1

533,442

506 186230 827124,175106 652

139 18954,15485035

136 17068,42767,743

465.82157126 8

- 123 3

131.5132 5135.6

99.6202.3

1307

141 1149.4

144 8154.2

161 1

167 1163.8

74 31363

928252.41257

180.0156.614231688

12811394137.11005

107 2103 01069144 7889956848

1508

114 0131 0

147 2148.5146 6

1050120 211021538

19301590980

1759629

1462139 9

166.3126693 282 2

113 9124.5178.7180.9

1367124.9161 0

466,290

511 881

231 485123,578107 907

140 04053,81586 225

140 3567030270,054

465.02124126 81257

131.6131 6133.1

96.0201.9

1316

1414149.7

1443155.4

161 6

1679165.0

75 6137 8

927254.31252

179.3155.1139 51684

12741386135.91005

10681009986

134789594989 0

142 5

116 51353

146 8148.11463

1047119 4110 2151 7

194 6158 5963

1750629

14591328

164.8125491 179 1

1137124.5180.8181.7

1364123.4161 3

475,439

507 328

228 353120,924107 429

139 42853,07186357

139 5476934370204

460.2209 1126 3124 8

130.11289128.3

95.0190.0

131 1

1414149.9

1433156.9

1628

168 9166.3

769138 6

930257.61239

178.7156.113931704

12731379136.01010

107 5101 5981

137 789692 9886

143 5

117 5137 0

147 0148.61454

101 511971099151 7

1985159 297 0

1764612

1458133 4

165.8125 588475 9

112 0123.8183.0181.6134 8120.4161 8

527,377

507 555

228 048120,432107 616

139 5165288686 630

139 9916879671195

457.6207 6125 8124 2

132.2131 7131.798.8

192.8

1326

1422150.7

1447156.9

1643

1703167.8

77 61397

93 6260.11248

179.9156.514021704

12821390137.11017

107 91024968

145 589191 686 3

144 5

117 1137 1

1480149.6146 6

109 21225111 31507

200 1159 397 3

1780614

1469135 1

168.0124790 177 0

1149123.1184.7182.2

1364122.0163 0

510,744

517 745

234 042123,331110711

141 4135390187 512

142 2906934572945

'464.8212 1126 4126 3

131.21286127.4

96.0185.5

1333

1421150.7

1447156.9

1654

171 5169.1

r7631409

r933263.21253

180.7156.314021700

12791387136.81011

10721020

940137 1r905r94787 6

1466

11561358

148 1149.5147 2

10591236

111 5150 1

1990158 2

r969180 5

603

147 11355

170.21239

r87 273 2

113 7124.8186.5

181.6

1355119.7

1643

530,722

518 088

233 071122,962110 109

142 54354,13988404

142 4747029372181

r463.5r210 6126 9126 0

130.81258123.6

91.4183.3

1347

142.9151.4

1453157.8

1659

1718169.4

r7631420

r927r263.81248

181.1157.0141 01707

12771393137.4

r99.0

1060101 21006129 2r90.3r924874

1500

11401341

148 6150.4147 7

12451122

149 5r200.91594

r9791825

r602

14731371

170.6124 1

87 3r729

1144125.4187.0182.01342116.5

165 5

r539,496

r515 695r231 236121,720109 516

142 500r54,016r88 484

141 959r69 147r72,812

r462.2r209 3126 9126 0

"128.0"120.4"113.9"81.2

"174.5

"133.8

"142.9"151.4

"145.3"157.8

"1657

"171.5"168.9

"760"1421

"926"264.1"121.3

"181.7"157.3"141 0"1712

"1284"139.9"139.1"99.1

"1066"1015

"1302"90.2"91 4"858

"1510

"1150"1359

"148 6"150.9"1476

"1259

"151 5"200.3"1602"989

"1838"60.9

"1469"1360

"170.3"123.8"891"747

"1163"126.1"186.1"180.9

"131 9"110.2"1668

484,982

511 085

226 933117,688109 245

143 27154,43988832

140 88169,52371,358

458.22058127 6124 8

129.6123.4119.2

€86.4180.1

134.4

142.5151.0

157.0

1664

172.2169.9

'765141 5

'92.9€264.4126.4

181.2157.61415

128.9140.1138.6100.9

1077103.9

141 5

11391344

1489150.9

e202.0

e980

1475

e895

126.4186.0181.6

1337114.3167 0



September 1989 SURVEY OF CURRENT BUSINESS S-3Unless otherwise stated in footnotes

below, data through 1986 and I7 .,methodological notes are as shown in ljims


Annual

1987 1988

1988


1989



BUSINESS INVENTORIES

Mfg. and trade inventories, book value(non-LIFO basis), end of period,(unadjusted) total $ mil $

Mfg. and trade inventories, book value(non-LIFO basis), end of period,(seas, adj ) total $ mil $

Manufacturing, total doDurable goods industries doNondurable goods industries do

Retail trade total doDurable goods stores do

Merchant wholesalers total doDurable goods establishments do....Nondurable goods establishments do

Mfg. and trade inventories in constant (1982)dollars, end of period(seas adj ) total § bil $Manufacturing .. doRetail trade doMerchant wholesalers do

BUSINESS INVENTORY-SALES RATIOS

Manufacturing and trade total $ ratio

Manufacturing total doDurable goods industries do....

Materials and supplies doWork in process doFinished goods do

Nondurable goods industries doMaterials and supplies doWork in process do....Finished goods do

Retail trade, total .... doDurable goods stores .... doNondurable goods stores do

Merchant wholesalers total doDurable goods establishments do...Nondurable goods establishments do ....

Manufacturing and trade in constant (1982)dollars, total § do

Manufacturing doRetail trade do ....Merchant wholesalers do

MANUFACTURERS' SHIPMENTS,INVENTORIES, AND ORDERS t

Shipments (not seas, adj.), total . mil $

Durable goods industries, total do....Stone, clay, and glass products do ....Primary metals do ....

Fabricated metal products doMachinery except electrical doElectrical machinery doTransportation equipment do....

Motor vehicles and parts do....Instruments and related products do

Nondurable goods industries total doFood and kindred products doTobacco products doTextile mill products do

Paper and allied products doChemical and allied products do ....Petroleum and coal products .. doRubber and plastics products do

Shipments (seas, adj.), total ... doBy industry group:

Stone, clay and glass products do

Blast furnaces, steel mills do

Machinery, except electrical doElectrical machinery doTransportation equipment do

Motor vehicles and parts doInstruments and related

products do

Nondurable goods industries, total # doFood and kindred products doTobacco products doTextile mill products doPaper and allied products doChemicals and allied products doPetroleum and coal products . . doRubber and plastics products do....

690 458

700 761

331 132216 598114 534

206 981106 271100 710

162 648106,48256 166

1 50

1 612.00

579151

1 1846.1953

157209125

1 27170.85

2 390 045

1,263,49262,142

117,09250812

135 005216 605210 695323,026197,04966805

1 126 553324 9961993557481

110 252212,705124 52880 510

743 191

753 718

354 163233 666120 497

221 242114 994106 248

178 313115,74362570

1 50

1 571.94

559049

1 1545.1951

158207127

1 30172

89

2 611 589

1,388,21164,044

142,19660 950

144 064247 152227 136351,927219,25772456

1 223 378356 804

2224059774

124 187240,476124 21891 089

725 243

1-729 786

343 788225 467118 321

r211 532107 487104 045

174 466112,712

rQi 754

6747322918581660

1 50

1 591.99

579250

1 1445.1951

156r205125

1 30172r.90

1481 561481 35

199 670

101,3934,999

10,7284 641

10 83218 5531696122,55012,6055895

98 27729 4791 2754 256

1007618,748109776935

216 698

113 1225 115

11 6675,032

11 51920,74919 01927 25216,380

6293

103,576304841 6634919

1048520478107877.468

729 557

737 562

345 798226 600119 198

215 396110 146105 250

176 368113,72762641

6787323718821669

1 50

1 561.92

558849

1 1545.1851

159r213125

1 311.74.90

1481 541.501 36

217 031

112,4935,653

11,9304 978

11 84519 56518 84527^10016,6165900

104 538299131 7715186

1063920,342109667707

221 715

117 8665435

11 9905,091

11 87021,48819 1313068319,349

6048

103,849302651 8464956

105752068010,5467.894

738 881

744 054

347 785228 214119 571

219 297114 303104 994

176 972114,87562097

681 9324319071669

1 51

1 571.93

558850

1 1646.1851

162222125

1 31173.90

1491 551531 36

234 386

125,0585,852

126145 193

12 69623 11121 23930,57019,1566545

109 3283245523535599

1078221,051103658 159

221 395

118 0305399

12 3345,211

1204921,22419 35429 96018,700

6 147103,3653033920215047

1055020144102567.855

753 958

743 544

349 412229 735119 677

216 724111 689105 035

177 408115,22562 183

6813324818941671

1 49

1 571.94

558950

1 1546.1851

157212123

1 281.70.88

1481 541501 34

229 541

122,6065,745

12,6145 187

12 73620 8411922232^58221,3486 150

106 93531 3391 6965243

1072720,269104308335

222 917

118 4395442

12 3695,151

12 12320,970189313092419,585

6057

104,478305641 9114 890

106692094810,2387.893

759 019

746 756

351 603231 766119 837

218 093112 904105 189

177 060114,97562085

6834325819101665

1 49

1 571.93

548950

1 1445.1851

156209123

1 29168.90

1481 551501 34

222 837

118,6365,507

123084 945

12 23420 12419 64031,33420,0495901

104 2013058222535221

1037320,10410 1207724

224 632

119 8745588

12 7095,206

12 59720,894190993096019,671

5960

104,758306072 1095269

107792135299407.835

743 191

753 718

354 163233 666120 497

221 242114994106 248

178 313115,74362570

6880327319361670

1 49

1 531.88

538748

1 1344.1851

159212125

1 311.69.92

1481 521531 36

226 032

122,4824,815

11,7964 836

11 73223 6862072831,99318,0206 523

103 5503071924555 118

1052820,397103637 518

230 827

124 1755549

12 8615,201

1286521,6421995332 52120,948

6342

106,652309951 9575397

1095621 110102378.318

753 035

759 803

357 458236 810120 648

222 584115 704106 880

179 761117,25562506

691 1328819481674

1 48

1 541.92

548850

1 1244.1850

159215124

1 28167.89

1491 551541 33

212 037

110,8874,849

12,1815 068

11 7711861217 64229,19020,1585830

101 15029 6501 2184742

1082220,853100447885

231 485

123 5785575

12 8695,222

13 19821,4911979431 83420,850

6403

107,90731 7201 8785520

1093821327103848.568

763 793

763 051

359 056238 165120 891

224 185116 169108 016

179 810117,93261 878

6908328319551669

1 50

1 571.97

559151

1 1344.1851

161219125

1 291.70.88

1501 571.551 34

229 134

121,8705,064

12,9055 198

13 21021 4211907832,47721,7786 138

107 26431 5721 5745397

11 03621,48310 1628200

120 9245356

12 5535,080

13 04421,9391922530 69819,700

6259

107,42931 8421 8195458

108022102110,7867.986

770 121

765 504

361 130239 330121 800224 693115 993108 700

179 681117,42462257

690532831957166.5

1 51

1 581.99

569350

1 1344.1951

161219125

1 281.71.87

1.511581.56134

238 698128,704

5,22113,0755365

1401224 1252080832,81120,5186535

109 9943292823925615

11 09821,960106118162

228,048

120 4325 150

123775,103

13 13521,94819,5413029818,941

6,200

107,6163236420035333

108962086211,0907.875

777 354

771 340

363 458240 486122 972

226 656117 093109 563

181 226119,06962 157

r69113291

1949167.1

1 49

1 551.95

549249

1 1142.1950

1602171.25

1 271.72.85

1.491 551.54132

235 253

125,2545,709

12,9405391

13*5912201019 55832,85421,7396085

109 99931 61317335236

11 00122,413120948466

234,042

123 3315451

124865,128

13 26922,05420,29931 48920,146

6,308

110,711322832 1045337

109272149712,3068.174

780 377

778 093

365 055241 689123,366

230 423118 835111 588

182 615120,48162 134

r6930r329.6195.6

167.8

1 50

1571.97

549349

1 1242.1851

1.622.191.26

1281.71.86

1.501571.54133

233,725

124,1935,556

12,5375239

1376021 9721932432,53421,2666387

109 532324212,2675,268

1078721,73911,933

8,516233,071

122 9625404

122505,048

1337022,25319,95231 17719,805

6,439

110,1093247020835315

10,90021,47811,9348.310

r779 755

r780 802r366 492r242,295124,197r231 762119 542112 220

182 548120,231

r62 317

694.5r330.4

196.4167.8

1 51

1581.99

559450

1 13r43.1952

1.63r2.21

1.27

1291.74r.86

1.501581.55133

r245,779

131,766r5,915

12,955r5208

14 369r25 744r21 282'31,88319,246

r6,949

114013r33 322

r2,399r5,747

11 387r22,46312,331

r8,683r231,236

121 720r5466

12 179'4,858

13 327r22,55819,839r30 00318,154

r6,393

109,516r32 2451893r5311

10 906r21,45711,986

r8,072

781 241

785 508

370,432245,551124,881

232 503119,708112795

182 573120,69361880

697.8333.3196.9167.6

1 54

1632.09.57.99.52

1 1443.19.52

1.622.201.27

1301.74.87

1.521621.541.34

208,628

104,8705,028

11,0804478

12416196911741222,08411,7125,864

103 75830,826

1,3004,573

10,46120,16611,931

7,251226,933

117,6885,289

12 1174,862

1329721,83419,57527,39016,120

6,220

109,2453180017815,286

10,87021,85611,672

8,061



S-4 SURVEY OF CURRENT BUSINESS September 1989

Unless otherwise stated in footnotesbelow, data through 1986 and ,, .f

methodological notes are as shown inBUSINESS STATISTICS: 1986

Annual

1987 1988

1988


1989

Jan Feb. Mar. Apr. May June July Aug.


MANUFACTURERS' SHIPMENTS,INVENTORIES, AND ORDERS t-Continued

Shipments (seas, adj.) — ContinuedBy market category:

Home goods and apparel mil $Consumer staples do....Equipment and defense products,

except auto do

Construction materials, supplies, andintermediate products do ....

Other materials, supplies, andintermediate products do ....

Supplementary series:Household durables .... doCapital goods industries do ....

Nondefense do ....Defense do....

Inventories, end of year or month:Book value (non-LIFO basis),

(unadjusted), total do....Durable goods industries, total do ....Nondurable goods industries, total do....

Book value (non-LIFO basis),(seasonally adjusted), total do ....

By industry group:Durable goods industries,

total # do

Primary metals do....Blast furnaces, steel mills do....

Fabricated metal products do....Machinery, except electrical do....Electrical machinery doTransportation equipment do

Motor vehicles and

Instruments and relatedproducts do

By stage of fabrication:Materials and supplies do ....

Finished goods do....

Nondurable goods industries,total # do

Tob ceo D oduct dTextile mill products do ....Paper and allied products do....Chemicals and allied

products doPetroleum and coal

products doRubber and plastics

products doBy stage of fabrication:

Work in process doFinished goods do....

By market category:

Consu er stanles ' dEquip, and defense prod.,

Automotive eauipment doConstruction materials, supplies, and

intermediate products doOther materials, supplies, and

intermediate products doSupplementary series:

Household durables do

Nondefense do ...

New orders net (unadj ) total doDurable goods industries, total do ...Nondurable goods industries total do

By industry group:Durable goods industries total do

Primary metals doBlast furnaces steel mills doNonferrous and other pri-

mary metals do...Fabricated metal products do ...Machinery, except electrical doElectrical machinery do...

Aircraft, missiles, and parts do...

Nondurable goods industries total doIndustries with unfilled

orders $ do...Industries without unfilled

orders <> do...By market category:

Home goods and apparel do...Consumer staples do...Equip and defense prod exc auto doAutomotive equipment do...Construction materials, supplies, and


intermediate products doSupplementary series:

Household durables do..Capital goods industries do

Nondefense doDefense do

•'1648611 461,0251 391 1891 223 069

1 192,664

1 957,237

'75607'445,633'336,1901 109,443

325,695212,265113,430

331,132

216 5987 216

181898,590

22,68441,93539 39657 203

11 391

12669

61,25599 95255,391

114 53424 7445 5867,458

11,242

25061

9951

9 112

44 3541875251,428

26 77242 399

9600414 013

24222

127 722

12843110 64377,13933 504

2 423 5971,293,2361 130 361

1 2 423 597

1 1 293 2361 122 590

1 53 724

1 59,1291 136,494'221041'212,442' 337 585'116,403

'1130361

'291,418

'838,943

'166,091'460,952' 409 548'223,543

' 192 464

'970999

'75,832'466264'356478' 109 786

' 170 860'501,301

'433296' 248 003

'204,769

1,052,710

'79219'486,607'380,017' 106,590

348,465229,040119,425

354,163

233 6667 505

20,27910,11923,55246,7294068363229

11 839

14040

65,252108 39260,022

120 497263615 6097,605

12,065

27 515

8879

10326

47 29419 29153,912

26 31344 900

105 28714 611

25250

137 802

12791121 06485,69135373

2 659 5251,435,6051 223 920

' 2 659 525

' 1 435 605' 144 128'60273

'73,288' 142,602' 253 798'227,440'388832' 136,560

' 1 223 920

'311,623

'912,297

' 170,374'501,477' 466 606'247,655

'205319

' 1 066 503

'78,985'528817'419 559' 109 258

1427041,765

3655718 685

16,646

88,775

642440,67532,0128,663

344,304226,096118,208

343,788

225 4677276

18,9589,206

22,92844,3913935861206

11 548

13275

64,138104 25757,072

118 3212554857847,742

11,530

26 154

9839

9 688

46 3501921852,753

26 54443 793

100 71614 414

25202

133 119

12653116 24381,44434799

203 370104,37798993

219 877

116 11212 1035085

6,15611,47121 40819,0392923910,987

103 765

26,152

77,613

14,00741,89539 15318,681

16606

89535

6,25843 208362136995

1407342,823

3650721 888

16,963

89,461

657141,44932,4149,035

346,830227,521119,309

345,798

226 6007 293

19,2469,351

23,26645,1233979160621

11 618

13455

64,998103 92757,675

119 198256885 8487,737

11,647

26544

9 518

9 847

46 93119 16353,104

26 66244 157

101 11014 411

25 142

134 316

12620116 65382,58234 071

218 860114,410104 450227 009

122 80611 7944788

6,09711,6382285119,0253470712,638

104 203

26,589

77,614

14,17042,87139 28321,725

17 022

91938

6,66846845388088037

1432842,458

3704221 188

17,045

89,334

663841,35332,523' 8,830

346,388227,815118,573

347,785

228 2147389

19,5449,551

23,49645,7973979760933

11 568

13513

65,253104 44058,521

119 5712574257637,545

11,775

26882

9336

10089

47 36419 11053097

26 47844*282

101 87114 415

25 184

135 555

12614117 62082,78134839

234 757125,584109 173222 669

119 321124965301

6,22112,00721 45918,62931 61811,504

103 348

26,112

77,236

14,50242,4563634321,200

17 001

91 167

6,78642330348587472

1438642,969

3639522 076

17,113

89,978

667141,02632,5958,431

348,699229,283119,416

349,412

229 7357 551

19,8259,677

23,43045,9924001061578

11 657

13578

65,324105 23959,172

119 677257915 8107,620

11,835

27 060

9092

10298

47 61119 17252894

26 32844 367

102 58614533

25392

136 206

12600118 52983,11935410

231 583125,170106 413227 095

122 791124284730

6,79512,0262118118,9773489812,005

104 304

26,134

78,170

14,26442,93639 16422,063

17 190

91 478

6,5904531834 62310695

1445443,253

3653722 243

17,529

90,616

6,94941,17232,5128,660

350,223230,625119,598

351,603

231 7667464

19,9809,763

23,47846,17240,74662305

11 872

13,798

65,298106 88459,584

119 837260035 7107,648

11,939

27 235

8757

10394

47 6641907153,102

26 45944 485

103 32014 717

25303

137 319

12712119 51884,16735351

225 235121,294103 941228 153

123 035126244950

6,82012,4112144320,1103240110,763

105 118

27,001

78,117

14,48143,2684039122,311

17 547

90155

6,96344216358258391

1531743,518

3831523 527

18,102

92,048

6,93442,77232,67510,097

348,465229,040119,425

354,163

233 6667 505

20,27910,11923,55246,7294068363229

11839

14,040

65,252108 39260,022

120 497263615 6097,605

12,065

27 515

8879

10326

47 2941929153,912

26 31344 900

105 28714 611

25250

137 802

12791121 06485,69135373

235 710132,230103 480238 886

132 149132105350

6,90212,91721 71019,92239 55014,145

106 737

27,018

79,719

15,50443,4914653423,633

18098

91626

7,15849 8393943210407

15,10844,467

3717823 343

18,390

92,999

6,93342,06033,3308,730

356,430235,168121,262

357,458

236 8107561

20,58910,22223,77647,40741,09064,660

12282

14,125

66,273109 30961,228

120 648262665 3497,636

12,093

27 601

9376

10418

4696319 53254,153

26 17744 206

106 39015002

25201

140 482

12952122 94487,16735777

222 407120,986101 421236 075

128 479130795840

6,27412,9832238419,56336 13313,350

107 596

26,660

80,936

15,45744,4174047223,295

18 163

94271

7,20647 167403526815

1479744,556

3715322 154

17,400

92,293

6,95541,85833,4558,403

360,741238,967121,774

359,056

238 1657609

20,78510,35323,77147,53241,37165,368

12246

14,218

66,852110 11861,195

120 89126?24554327,606

11,941

27880

9578

10405

4690019 52254,469

26 05844 279

107 52315045

25059

141 092

12927124 03488,24135793

235 462128,116107 346231 306

124 107126025112

6,56813,3772192119,57333 38110,730

107 199

26,994

80,205

14,64644,52540 50322,141

17 180

92311

6,8134534837 1898 159

14,60844,969

37,80221 351

17,251

92,067

6,86442,52834,0798,449

362,082240,180121,902

361,130

239 3307630

20,88010,53723,96247,73041,28865,996

12169

14,336

67,278111 55560,497

121 8002630153727,495

11,905

28510

9,897

10572

468582007554,867

2605344 454

108 30915013

25042

142 259

13,046124 74288,32636416

246,325135,749110 576233 Oil

125 377118854635

6,41212,9102225518,27237 05015,892

107,634

26,701

80,933

14,47344,9454171121,342

17 106

93434

6,7034859838 13710461

14,89445,727

38,33722 522

17,473

95,089

6,97743,23234,5998,633

365,848242,195123,653

363,458

240 4867704

21,03610,56323,94747,66041,55366,681

12,134

14,361

66,887113 38160,218

122 9722658854037,648

11,943

28816

10,346

10555

467802049355,699

2625744977

109 16015 165

24986

142,913

13,110125 41389,05136362

240,054130,202109 852239 907

129 37212865

4,741

7,16313,0072273119,89037 06215,240

110,535

27,305

83,230

14,97745,6834372822,344

17 366

95809

7,11948940403898 551

14,66045,902

38,61622256

17,331

94,306

6,94843,22434,5278,697

368,621244,712123,909

365,055

241 6897,740

21,22310,52623,89247,82041,56467,557

12,237

14,062

66,748114 29160,650

123 3662618154317,810

12,070

29,069

10,423

10567

466792029056,397

2641944909

109 58015245

25,405

143,497

13,146126 54189,75536786

r231,196121,766109,430r233 753

123 52412481

r4,870

6,68612,79222,28818,6773347011,405

110,229

r27,315

82,914

14,361r46,13640 13822,011

17 295r93,812

6,6394486237 2907572

14,668-45,471

-38,878r20 356

17,355

-94,508

r6,781r43,984-34,759-9,225

-366,693'242,874123,819

-366,492

r242,295r7,748

-21,27510,532-23,726-47,885-41,087-68,333

-12,152

-14,107

-66,681-114 668

-60,946

-124,197-26,180-5 525-7,803

-12,320

-29,182

-10,695

-10,619

-46 773-20,524-56,900

-26 286-45 269

-110,611-15,287

-25,521

-143,518

-13,026-127,190-90,414-36 776

-246,498-132,111-114,387-235 157

-125,137-11,770-4,424

-6,528-13,435-23,348-19,593-33 414-12,312

-110,020

-27,544

-82,476

-14,558-45,554-43 069-20,255

-17 219

-94,502

-6,673-48,084-39 146

rg nog

'

14,75845,385

38,38818326

17,067

93,009

6,84642,65334,4628,191

371,029246,275124,754

370,432

245,5517,849

21,42610,67824,02748,24341,57569,979

13,033

14,000

67,536116 34061,675

124,88126,29456567,980

12,438

29,222

10,604

10,683

46,87020,82157,190

2679945472

111,70116,231

26,110

144,119

13,267128,42791,40037,027

213,869110,014103,855231 259

122,42011,6964,516

6,39912,69420,89019,7973427817,029

108,839

26,795

82,044

14,60545,3374060418,132

16821

95,760

6,80349,01141 3707641




below, data through 1986 and IT ..methodological notes are as shown in IJnils


Annual

1987 1988

1988


1989



MANUFACTURERS' SHIPMENTS,INVENTORIES, AND ORDERS tt— Continued

Unfilled orders, end of period (unadjusted),total mil $

Durable goods industries, total .....do....Nondurable goods industries with

unfilled orders $ doUnfilled orders, end of period (seasonally

adjusted) total mil $By industry group:

Durable goods industries, total # do....Primary metals : .do

Blast furnaces, steel mills do....Nonferrous and other pri-

mary metals.. . . doFabricated metal products do....Machinery, except electrical do....Electrical machinery do....

Aircraft, missiles, andparts do....

Nondurable goods industries with

By market category:Home goods and apparel doConsumer staples doEquip, and defense prod;, excl.

auto doAutomotive equipment...... do....Construction materials, supplies, and


intermediate products.i do....Supplementary series: !

Household durables doCapital goods industries ii....! do....

Defense do

BUSINESS INCORPORATIONS ®New incorporations (50 States and Dist. Col.):

Unadjusted numberSeasonally adjusted : do

INDUSTRIAL AND COMMERCIALFAILURES @

Failures total numberCommercial service do

Manufacturing and mining doRetail trade doWholesale trade do

Commercial service doConstruction doManufacturing and mining doRetail trade . doWholesale trade , do

Failure annual rate:.. No. per 10,000 concerns..

415 998396,563

19435

421 243

400,7202389611,637

1026529.97052,70293,696

173 733

144,343

20 523

9075675

252 7519,239

15060

134,443

6480301,674139 81416l'860

685 572

'61 384r23 928

r6775r4912

12 272r4353

'34 818 2rl 761 2'2 359 8'4 074 3'2 734 71 534 1

102.0

463 934443,957

19977

468 860

447,8682573710,903

12 591

28,40659,96393,498

212 120

174,722

20 992

8387836

286 7318,888

15541

148,477

6 122345,037179 640165 397

684 109

57093227566 8114 703

11 4854'451

35 892 "7 944 41 853 9450273991 320720

447 616426,544

21 072

446 536

426,1522544811,644

1] 626

28,91157,53893,303

193 995

159,569

20 384

8 024835

269 8148,878

15435

143,550

5720324,263158 814165 449

53 43957277

4 5111 763

560362908401

4 565 0504 61408176 6

1 637 3'l48 6

449 445428,461

20984

451 830

431,0922525211,341

11 707

28,67958,90193,197

198 019

162,950

20 738

8 121883

272 5908,715

15494

146,027

5817329,659165 208164 451

60 18659 649

4 9842077

556436983394

2 248 1624 5201 1499617801047

449 816428,987

20829

453 103

432,3822541411,431

11 757

28,63759,13692,472

199 676

165,376

20 721

8295881

271 8908,727

15450

147,860

5965330,635167 543163 092

5399356126

45991 958

563383905317

3 533 0500 0107 7183 8151 587 3

451 858431,551

20307

457 281

436,7342547311,010

12219

28,54059,34792,518

203 650

168,121

20 547

8 173848

274 6598,714

15527

149,360

5884334,927169 571165 356

54 52156557

4 1461 798

479320801297

1 825 5385 2118 3228 92454807

454 256434,209

20047

460 802

439,89525,38810,754

12 428

28,35459,89693,529

205 091

169,763

20907

8200863

278 5138,782

15545

148,899

5898337,971172 884165,087

4918653638

42621 531

597350888319

2 047 5343 1109 5355 4

- 413991 2

463 934443,957

19977

468 860

447,86825,73710,903

12591

28,40659,96393,498

212 120

174,722

20992

8387836

286 7318,888

15541

148,477

6122345,037179 640165,397

5816558516

3 8941 316

514288889311

2 026 83183103 6317 4161 6494

474 304454,056

20248

473 450

452,76925,94711,521

12 121

28,19160,85693,267

216 419

179,176

20681

8736786

290 0258,840

15314

149,749

6395350,144186 662163,482

5803158499

46631752

583399938338

2 1000480 398 9

391 1140694 1

480 632460,302

20330

476 403

455,95225,99611,553

12106

28,52460,83893,615

219 102

181,110

20451

8 585755

293 3758,827

15094

149,767

6253353,634190 396163,238

5590558724

42761650

566359890270

2316 1376 2948

2647161 3104 6

488 259467,347

20,912

481 366

460,89725,50411,085

1207528,29961,14592,346

225 854

187,793

20469

8450731

297 2848,818

14949

151,134

6092359,704194 454165,250

6831160,133

47831732

649379

1 080380

29480435026271664200477 6

493 060472,295

20,765

487 231

466,93825,88310,698

12781

28,03761,82291,937

231 427

193,939

20 293

8533687

302 6758,640

14842

151,854

6234365,412200 244165,168

55,41155,245

39261411

538288814315

6 14561 0768

129332691497632

r490 531'469,868

r20,663

r487,913r467,500

r26,11410,520

13,14027,45961,85790,662

233 720

196,185

r20 413

8234r921

304 1978,395

14,806

151,360

5,925367,050203 007164,043

62,24257,738

44061,655

573357948304

1 873 24288141 1234013951062

r491 250r470,213

r21,037

r491,834r470,917

r25,70510,086

13,190'27,567'62,647'90,416

r237 131

198,610

r20 917

r81241,004

r308 388'8,294

14,670

151,354

'5,817'371,150'207 394163,756

60,94557,495

4,1801,441

586321962304

218604415100929092598811

496,491475,357

21,134

496,160

475,64925,2849,740

13,14126,96461,70390,638

"244 019

206,488

20 511

7,971956

310 6048,100

14,424

154,105

5,774377,508214 302163,206

::::::::::::::

COMMODITY PRICES

PRICES RECEIVED AND PAID BYFARMERS t

Prices received, all farm products 1910-14 = 100..Crops # do.

Commercial vegetables doCotton doFeed grains and hay do....Food grains do ....Fruit doTobacco do

Livestock and products # do....Dairy products do ....Meat animals do ....Poultry and eggs do

Prices paid:

All commodities and services, interest, taxes,and wage rates (parity index) 1910-14 — 100

Parity ratio § do

CONSUMER PRICES 0(U.S. Department of Labor Indexes)

Not Seasonally AdjustedALL ITEMS, WAGE EARNERS AND

CLERICAL WORKERS' (CPI-W)...1982-84= 100 ..ALL ITEMS, ALL URBAN CONSUMERS

(CPI-U) 1982-84=100..Special group indexes:

All items less shelter '. do....All items less food do....All items less medical care .do....

578

458719503268282669

1 255703764921244

849

1 11052

112.5

113.6

111.6113.6112.6

631

544707484378378669

1 286721746949269

908

1 16754

117.0

118.3

115.9118.3117.0

649

591624502448396718

1 225

709697917311

922

1 181

55

117.2

118.5

116.1118.4117.2

660

590761455436404673

1 271732722951315

56

117.7

119.0

116.5118.9117.8

660

585728438432414691

1 379737759944316

56

118.5

119.8

117.5119.7118.6

653

577650457429423698

1 378731795932296

936

1 193

55

118.9

120.2

117.9120.2118.9

657

588731477421427717

1 398728820918293

55

119.0

120.3

118.0120.3119.0

663

590725468424432712

1 400

739826939288

56

119.2

120.5

118.1120.4119.1

682

604891455432439656

1 411762820983294

943

1 20757

119.7

121.1

118.7120.8119.7

677

595833447431441653

1389

762801992292

120.2

121.6

119.2121.3120.1

679

590744475436445585

1389773111991343

120.8

122.3

119.9122.0120.8

672

604851497438442613

1,395742752957316

953

1 220

55

121.8

123.1

121.0122.9121.7

680

611760497436440743

1,395752746966335

122.5

123.8

121.7123.5122.3

673

595757497415424730

1,395754752972328

122.8

124.1

122.0123.9122.6

'667

'580'835'512'398'421'589

1,394

'757"771'980314

953

1,22654

123.2

124.4

122.0124.2122.9

660

555710543377425639

1,373770789998316

123.2

124.6

122.0124.3123.0



S-6 SURVEY OF CURRENT BUSINESS September iy»yUnless otherwise stated in footnotes

below, data through 1986 and ,, .,methodological notes are as shown in Linus


Annual

1987 1988

1988


1989


COMMODITY PRICES—Continued

CONSUMER PRICES t— Continued(U.S. Department of Labor Indexes)— Continued

Not Seasonally Adjusted !w;/

All items (CPI-U)— Continued ="'•£' - > ! ""Commodities 1982-84= 100 ..

Nondurables . doNondurables less food do

Durables . doCommodities less food .... doServices do ....

Food # doFood at home . do

Housing doShelter # do

Rent, residential do. .Homeowners' cost 12/82-100..

Fuel and utilities # 1982-84=100.,Fuel oil, coal, and bottled

gas doGas (piped) and electricity do ..

Household furnishings and op-eration . do

Apparel and upkeep.. doTransportation do

Private doNew cars .. doUsed cars . do

Public doMedical care do

Seasonally Adjusted tAll items, percent change from

previous monthCommodities 1982-84=100..Commodities less food . doFood do

Food at home do

Apparel and upkeep doTransportation . .. do

Private doNew cars do....

Services . do

PRODUCER PRICES §(U.S. Department of Labor Indexes}

Not Seasonally Adjusted

All commodities 1982—100

Crude materials for furtherprocessing do...

Intermediate materials, supplies, andcomponents . do

Finished goods # . . doFinished consumer goods do....Capital equipment do....

By durability of product:Durable goods doNondurable goods do...Total manufactures do

Durable manufactures . . . doNondurable manufactures do....

Farm products, processed foods andfeeds do ....

Farm products doFoods and feeds, processed do....

Industrial commodities do

Chemicals and allied products do....Fuels and related prod., and

power doFurniture and household durables do....Hides, skins, and leather products do...,Lumber and wood products do....Machinery and equipment do....Metals and metal products do....Nonmetallic mineral products do ...Pulp, paper, and allied products do...Rubber and plastics products do...Textile products and apparel do. .Transportation equip. # do...

Motor vehicles and equip do...

Seasonally Adjusted tFinished goods, percent change from previous

monthBy stage of processing:

Crude materials for further proc-essing 1982-100

Intermediate materials, supplies, andcomponents do

Finished goods # .doFinished consumer goods do. .

Foods do...Finished goods, exc. foods.. do..,

Durable doNondurable do...

Capital equipment do ...

PURCHASING POWER OF THE DOLLARAs measured by:

Producer prices 1982—$! 00Consumer prices 1982-84— $1 00

107.7107.5101.8108.2104.3120.2

113.5111.9

114.2121.3123.1124.8103.0

77.9103.8

107.1

110.6105.4104.2114.6113.1121.1130.1

102.8

93.7

101.5105.4103.6111.7

109.997.5

104.4109.6

99.2

103.795.5

107.9102.6106.4

70.2109.9120.4112.8110.4107.1110.0121.8103.0105.1112.5111.7

.949

.880

111.5111.8105.8110.4107.7125.7

118.2116.6

118.5127.1127.8131.1104.4

78.1104.6

109.4

115.4108.7107.6116.9118.0123.3138.6

106.9

96.0

107.1108.0106.2114.3

114.7101.1109.1114.1104.1

110.0104.9112.7106.3116.3

66.7113.1181.4118.9113.2118.7

111.2130.4109.8109.2114.3113.1

.926

.846

111.5111.9105.4110.3107.4126.1

118.8117.3

119.1127.4127.8131.0106.0

76.9108.1

109.8

112.7108.9107.8116.5117.9123.7139.3

.4111.8108.0118.9117.2

115.7

108.7107.7116.7

125.8

107.9

97.3

108.2108.6107.0114.2

114.8102.6109.8114.1105.4

112.9109.1115.0106.8117.4

68.0113.1130.1120.0113.2119.2

111.1131.0109.8109.6113.9112.6

.6

96.6

107.9108.2106.5112.9103.3113.9

97.6114.3

.921

.844

111.9112.4105.9110.3107.7126.7

119.4118.1

119.5128.2128.4131.8106.1

76.3108.3

109.7

112.6109.6108.6116.3119.2123.7139.9

.3112.1108.1119.5118.0

113.9

109.6108.6117.0

126.4

108.0

96.9

108.4108.7107.1114.5

115.1102.6110.0114.4105.6

112.7109.3114.5107.0118.2

67.6113.4131.6118.8113.6119.8

111.1131.3110.6109.6114.0112.8

.3

97.2

108.2108.5106.8113.6103.5114.5

97.6114.7

.920

.840

113.0113.7107.7110.6108.9127.3

120.2119.0

119.9128.4129.1132.6106.4

75.9108.5

110.1

117.8109.7108.6116.8119.4124.0140.4

.4112.7108.6120.3119.0

116.0109.7108.7117.7

126.8

108.1

96.7

108.7108.6107.0114.3

115.2102.7110.1114.5105.6

114.0111.6115.4106.8

119.1

66.1113.7132.5118.9113.9120.2111.3132.1111.0109.8113.2110.9

.6

97 1

108.6109.1107.3114.6103.7115 1

97.6115.7

.921

.835

113.5114.2108.3111.1109.5127.6

120.3119.0

119.9128.8129.4133.1105.4

74.6105.8

110.3

120.7110.0109.0117.7119.9124.2141.2

.4113.0109.0120.6119.2

117.4

110.1109.1117.8

127.4

108.2

95.9

108.6109.4107.6116.0

116.4102.2110.5115.6105.4

113.5110.9115.0107.1119.9

64.5113.9131.9118.7114.2121.4

111.4132.8111.1110.0116.6116.9

.1

96.6

108.6109.2107.4114.7103.8115.0

97.8115.6

914.832

113.5114.1108.2111.8109.7127.8

120.2118.7

119.9129.1129.8133.8104.3

75.0103.7

110.6

119.9110.7109.6118.7119.7125.3141.8

.3113.2109.1120.8119.3

117.4

110.4109.3117.9

128.0

108.3

94.5

108.9109.8108.0116.1

116.8102.0111.0116.0106.1

1124107.9114.8107.5121.1

64.4114.3130.4118.8114.5122.8111.5133.1111.2110.2116.3116.1

.3

94.8

109.0109.5107.8115.1104.1115.0

98.3115.8

.911

.831

113.5113.9107.5112.2109.4

120.7119.1

120:2129.3130.1134.0105.0

76.8104.1

110.6

118.0110.8109.6119.1120.2126.5142.3

.3113.4109.2121.2119.8

117.7

110.4109.3118.1

128.6

109.0

97.3

109.4110.0108.2116.4

117.2102.8111.4116.4106.4

112.9108.9115.0108.1121.7

65.6114.5130.1119.0114.8124.0111.7133.5111.8110.5116.3116.0

4

97.8

109.5109.9108.2115.2104.7115.498.9

116.2

.909

.830

113.9114.3107.1112.5109.2128.9

, 122.2121.2

120.7129.8130.5134.4106.0

80.5105.1

110.9

115.3111.1109.8119.5120.5127.5143.8

.6114.2109.9122.1120.9

117.7

111.2110.0118.9

129.1

110.5

101.4

110.6111.1109.4117.1

118.1104.8112.5117.1107.8

115.0112.0116.6109.6123.7

68.1115.0131.2120.1115.6125.3

111.8135.1111.9111.0116.8116.2

1 1

101.8

110.8111.1109.5116.7106.0116.3100.4116.9

.900

.826

114.3114.9107.6112.4109.5129.4

122.9122.0

121.1130.3130.9134.7105.9

81.4104.9

110.9

115.3111.6110.3119.6120.5128.1145.2

A114.6110.2122.6121.4

117.5

111.9110.8119.3

129.7

110.8

101.2

111.0111.7110.1117.5

118.3105.2112.9117.4108.3

114.6110.8116.6110.1

124.3

68.9115.3133.2122.0116.0125.1

111.8136.3112.2111.8117.1116.5

9

101.5

111.3112.1110.6117.8107.1116.9101.61174

.895

.823

115.2116.2109.4111.9110.5130.0

123.5122.7

121.5131.2131.1135.0105.9

81.5104.8

110.5

119.3111.9110.7119.6120.5128.2146.1

.5115.3110.8123.6122.6

119.1

112.6111.5119.7

130.3

111.5

103.2

111.5112.1110.6117.5

118.5106.1113.4117.6109.2

116.1113.8117.5110.5124.5

69.9115.7136.8123.2116.3125.6112.0136.9112.7111.2116.8115.5

4

103.7

111.9112.6111.2118.8107.5117.0102.2117.5

.892

.818

116.7118.4112.8111.8112.5130.2

124.2123.5

121.6131.2131.4135.4106.2

82.5105.0

110.7

120.9114.6113.6119.4120.7128.4146.8

.7116.5112.4124.2123.3

119.4

115.0114.1119.8

130.6

112.3

104.4

112.4113.0111.8117.6

118.7107.4114.4

117.8110.8

115.0111.0117.2

111.8124.9

11&2136.1

125.2116.5125.6112.6137.4113.0111.6116.4114.8

4

104.5

112.5113.1112.0

118.1109.0116.3

104.4117.4

.885

.812

117.5119.3113.9111.9113.2130.8

124.9124.4

122.1131.8131.7136.2107.0

81.5106.1

110.8

120.4116.0115.0119.5121.0128.9147.5

.6117.4113.3125.0124.3

120.4

116.1115.2119.6

131.2

113.1

106.3

112.7114.2113.3117.9

118.8108.7114.9118.0111.6

116.9114.9118.1112.4

125.0

76.1116.5134.6126.4116.9124.9

112.7137.9113.0111.9116.8115.6

9

105.1

112.6114.1113.2119.2110.2117.2105.8117.9

.876

.808

117.2119.0113.1112.1112.8131.6

125.0124.3

122.9132.3132.3136.5109.2

80.2110.5

111.1

117.8115.9114.9119.1121.3129.6148.5

.2117.4113.1125.3124.5

119.1

115.9115.0119.3

131.6

112.8

103.9

112.6114.1113.0118.6

118.8108.1114.8118.1111.2

115.2111.4117.3112.3124.2

75.7116.7134.9127.3117.3123.7

112.8138.0112.8112.1117.5115.6

1

103.0

112.4114.0112.8118.2110.1117.4105.6118.7

.876

.806

117.0118.7112.2111.9112.1132.5

125.5124.8

123.9133.6133.0137.3109.7

79.7111.1

111.4

115.0115.4114.3118.6121.1129.7149.7

.2117.3112.8125.7124.7

118.1

115.2114.2118.8

132.3

112.7

103.7

112.6114.0112.8118.6

118.7108.0114.6118.1110.9

115.4110.0118.2112.2

123.5

75.5117.2136.9128.7117.6122.9113.0138.1112.6112.5116.7114.2

103.2

112.2113.5112.1118.3109 1117.11043118.7

.877

.804

116.7118.4111.5111.4111.6133.1

125.8124.9

124.2134.1133.5138.1109.7

78.9111.3

111.4

115.0114.3113.1117.7120.3130.1150.7

.0116.8112.0125.9124.9

116.3

114.3113.2118.5

132.7

112.0

101.0

112.1113.3111.8118.8

118.8106.7114.2118.3110.1

114.9108.7118.0111.4

122.8

72.0117.6137.2128.9117.9^122.8

112.9138.3112.5112.8116.8114.1

4

101.2

111.9113.1111.5118.7108.0117.5102.6119.0

.883

.803



September 1989 SURVEY OF CURRENT BUSINESS 8-7Unless otherwise stated in footnotes

below, data through 1986 and „ ..methodological notes are as shown in units


Annual

1987 1988

1988


1989


CONSTRUCTION AND REAL ESTATE

CONSTRUCTION PUT IN PLACE @New construction (unadjusted), total mil. $..

Private, total # doResidential do

New housing units doNonresidential buildings, except farm and

Sublic utilities total # mil $ustrial do

Commercial doPublic utilities:

Telecommunications * doPublic, total # do

Buildings (excl military) # doHousing and redevelopment doIndustrial do

Military facilities doHighways and streets do

New construction (seasonally adjusted atannual rates), total bil $

Private, total # doResidential . . do

New housing units doNonresidential buildings, except farm and

public utilities, total # bil $Industrial ' doCommercial do

Public utilities:Telecommunications * do

Public, total # . doBuildings (excl. military) # do

Housing and redevelopment doIndustrial do ....

Military facilities doHighways and streets do

CONSTRUCTION CONTRACTSConstruction contracts in 50 States (F.W. Dodge

Division, McGraw-Hill):Valuation, total mil $

Index (mo data seas adj ) 1982—100Public ownership mil $Private ownership doBy type of building:

Nonresidential doResidential do

• Non-building construction doNew construction planning

(Engineering News-Record) § do

HOUSING STARTS AND PERMITSNew housing units started:

Unadjusted:Total (private and public) thous

Privately owned doOne-family structures do....

Seasonally adjusted at annual rates: <)Total privately owned do

One-family structures doNew private housing units authorized by building

permits (17,000 permit-issuing places):Monthly data are seas. adj. at annual rates:

Total thousOne-family structures do....

Manufacturers' shipments of mobile homes:Unadjusted thousSeasonally adjusted at annual

rates - do

CONSTRUCTION COST INDEXESDept of Commerce composite $ 1982 — 100Boeckh indexes:

Average, 20 cities:Apartments, hotels, office

buildings .. 1982—100Commercial and factory buildings do....Residences do

Engineering News-Record:Building 1967=100..Construction do .

Federal Highway Adm. — Highway construction:Composite (avg for year or qtr ) 1977 — 100

397,720320 106194 656139 915

91 9941370755445

9 194

7761425 1581 5191 457

432425340

258 0901 164

66318191 772

91041121 12845921

267 823

1 622 7162051,146.4

15351,024

2328

114 4

1173115.11197

375.6409.8

1720

409,662328 739198 101138 947

97 1021493058 103

886780924274551 4991 4133579

28 523

253 147'161

66077187 070

86794120 86745486

283 448

148811,081.3

1 456994

2183

1162

1202118.31223

384.64207

1847

38,0832998618 87312997

8 2721 2355049

729F8 696

, 2470131115322

3 391

4107328119681370

981148597

825273161.439

310

r22 309160

r575016 559

r821610 099

r3 995

19 566

137 2137 0100.3

1 4781 067

1 425976

167

207

116 4

1206118.91229

384.64219

39,42331 0561929613 155

8 7511 3065 398

85983672685

120130295

3368

408 13292197 61370

979150593

9 1789283141635

262

23 142162

549617 645

839111 1193 632

21 883

13681368101.4

1 4591 076

1 4661,007

21 9

223

116 4

386.54228

38,907303341872613065

8 6801 3295313

82685722685

137169364

3 181

411 5329819831380

974149588

928172891.62.04 4

263

21 174157

565915 515

7 52410 1173 533

20 405

131 4131 1

91.7

1 4631 039

1 432980

206

224

116 6

121 1119.0123 1

386.64222

193 5

38,17030 43418 68412920

8 6371 4355 125

78077362352

126115218

3 230

411 1331420081398

96515557 3

88797269151.426

287

20313164

537014 943

693999963378

23 176

1352135 1

97.7

1 5321 136

1 5261,029

198

216

116 9

386.64241

36,08729 12217 67412450

8 3951 3674949

82969652304

148115285

2476

415433282020141 9

961154567

92826280181.434

290

18601158

425714345

65929 4502 560

25 114

113 21130

81.2

1 5671 138

1 5081,027

17 6

227

116 9

121 5119.61237

387.24252

32,469264761499410554

8 2911 3454878

81059932 187

130103325

1 785

42503363202 51433

983150587

9 88882851.61.239

337

18027163

446813 558

588888973242

20 652

94265.7

1 5771 141

1 5181,058

14 2

225

117 1

387.34252

184 1

28,27223 12413 2899831

7 4811 1774372

5405 1482032

12259

2871 350

424 8339520471456

1005159594

828532781.5

.734

308

15776155

372312053

60817 5152 181

23 659

100 169.9

1 6781 199

1 4861,052

153

232

118 6

123 9121.11256

387.7425.8

27,03722 20112 6079217

7 2071 0984 219

55648362088

13694

2861 048

4185335020231453

98615 1587

80834299

1.61.134

279

15086148

399811 089

51837 1372766

22 688

85859.3

1 4651029

1 403989

14 6

212

1198

386.84252

30,29725 19314 57310544

7 9531 2144706

64251042 100'l22126312

1 233

4192340420451432

101.8157607

7878727.81.51.537

261

21080150

601115068

660010 1184361

25 083

117883.5

1409981

1230870

182

207

1204

1240121.51263

387.3425.2

1920

32,457264511602211,161

7 65T1 2324462

5936,0072355

132105261

1 757

4158335.420401420

96.3163556

7 880429.21.61.331

27.8

21725163

604215684

6,510109994216

23972

1294100.4

13431,029

1,334954

17.1

198

120 5

387.7425.5

' '36,118r28 76617 45211,799

825213314832

698r7,3522462

152117282

2 540

r4193r334.1r20101383r97.4160r568

r81r851r29.5

1.81.434

27.4

23,796159

675417042

7,959- 11 389

4448

20 155

131.7101.4

1308977

1,347905

19.1

205

1208

1242123.51267

388.0425.7

''37,926r30 14818,52412,443

r84191 393r4894

766r7,778r2556

152123

r280r2939

r415.6r333.719861364

r98.8163r574

86r81.928.91.81.53.4

r27.3

24,650157

685917792

8,49611 5684586

24319

143.2100.3

1,406r972

1,308874

18.9

202

121 0

388.7427.6

1767

38,5473054618,98112,862

841614034848

8,0012,689

148103252

2929

415.7334.7198.2135.9

99.716.857.3

80.929.21.81.23.0

26.2

22,330163

6,11116,219

7,97610,3184,036

134.5r98.0

1,4241,029

1,281r906

14.4

207

1214

124.8124.0127.4

389.4428.0

124.892.8

1,3531,003

1,326918

2 390.62 428.8



S-8 SURVEY OF CURRENT BUSINESS September 1989Unless otherwise stated in footnotes

below, data through 1986 and TT .,methodological notes are as shown in Lmts


Annual

1987 1988

1988


1989


CONSTRUCTION AND REAL ESTATE—Continued

REAL ESTATE <>Mortgage applications for new home construction:

FHA applications thous. units..Seasonally adjusted annual rates .., do

Requests for VA appraisals T..:.: do....Seasonally adjusted annual rates do....

Home mortgages insured or guaranteed by:Fed. Hous. Adm.: Face amount mil. $..Vet. Adm.: Face amount § do....

Federal Home Loan Banks, outstanding advancesto member institutions, end of

period mil. $.New mortgage loans of SAIF-insured

institutions, estimated total @ mil. $..By purpose of loan:

Home construction doHome purchase do....All other purposes do....

165.3

193.4

81,880.51 42,577.1633,322.54

133,054

253,407

28,411190,74934,247

104.9

149.8

15,773.84

152,777

240,297

29,555176,40334,333

8.1104

13.7167

4,383.241,287.15

135,759

21,674

2,46416,4662,743

9.410214.5153

4,069.621,451.05

137,953

24,855

18,8103,013

8.3969.4116

3,654.991,504.53

141,562

23,325

2,86717,1333,325

8.5120

4,642.411,388.99

142,260

19,647

2,43214,7502,464

7.31049.1201

2,535.111,334.34

145,771

18,319

2,25613,6342,429

7.21047.7190

3,501.381,368.01

152,777

21,677

2,70515,2733,700

8.0120

4,628.421,239.99

154,014

15,522

1,97111,458r2,093

7.391

9.6116

3,508.801,222.92

158,267

1,80210,3961,639

92

13.7135

3,189.101,363.51

163,779

19,012

'2,52714,166r2,318

92

9.1102

3,064.371,127.15

165,630

16,471

'2,29412,4201,756

12.4132

9.5103

3,166.561,164.14

16,387

r2,41612,0381,934

12.2138

10.4110

3,773.701,071.66

161,870

16,042

'2,44711,6101,985

9.9128

'9.2113

3,059.58984.90

159,648

13,086

2,0159,6991,372

7.074

3,511.301,102.03

156,293

DOMESTIC TRADE

ADVERTISINGMagazine advertising (Leading National

Advertisers):Cost, total mil $

Apparel and accessories doAutomotive, incl. accessories doBuilding materials doDrugs and toiletries doFoods, soft drinks, confection-

ery do

Beer, wine, liquors doHoushold equip., supplies, fur-

nishings doIndustrial materials doSoaps, cleansers, etc .... doSmoking materials doAll other do

Newspaper advertising expenditures (NewspaperAdvertising Bureau, Inc.): ft

Total mil $Classified doNational doRetail do

WHOLESALE TRADE tMerchant wholesalers sales (unadj.),

total mil $Durable goods establishments do....Nondurable goods establishments do .

Merchant wholesalers inventories, book value(non-LIFO basis),end of period (unadj.), total mil. $ .

Durable goods establishments doNondurable goods establishments do . . . .

RETAIL TRADE tAll retail stores:

Estimated sales (unadj.), total mil. $..Durable goods stores # do....

Building materials, hardware, gardensupply, and mobile home dealers mil. $..

Automotive dealers doFurniture, home furnishings,

and equipment doNondurable goods stores do....

General merch. group stores. . doFood stores doGasoline service stations doApparel and accessory stores do....Eating and drinking places doDrug and proprietary stores ... . doLiquor stores do....

Estimated sales (seas, adj.), total doDurable goods stores # do

Bldg. materials, hardware, garden sup-ply, and mobile home dealers# mil. $.,Building materials and

supply stores doHardware stores do

Automotive dealers do....Motor vehicle and miscellaneous

auto dealers doAuto and home supply

stores doFurniture, home furnishings,

and equipment # do .Furniture, home furnish-

ings stores .. • doHousehold appliance, radio, and

TV stores do

29,41210,6913,494

15,227

1,482,975725,683757,292

162,964105,14557,819

1,521,417572,489

81,549334,429

84,562948,928176,023314,60598,68077,998

147,71754,95819,458

31,19711,7713,586

15,840

1,588,330782,744805,586

178,884114,17664,708

1,629,150628,543

88,894369,028

92,9521,000,607

183,783331,892101,91682,028

157,50458,72919,143

126,84162,55564,286

172,497113,36659,131

135,37153,020

7,81431,845

7,49082,35113,30929,0158,9556,080

14,1284,6591,684

135,741r52,435

r7,291r5,2021,176

r30,875

'28,377r2,498

'7,702r3,799r3,348

7,6233014

8673,741

138,55167,90470,647

172,736113,47059,266

140,20155,153

8,15032,963

7,83785,04814,79128,482

9,2227,031

14,2984,8311,582

135,732r51,629

'"7,371r5,2251,168

r30,071

'27,569r2,502

r7,719r3,760r3,392

136,99468,51168,483

175,787115,46960,318

133,00051,076

7,81129,748

7,54381,92413,97227,8758,5946,735

13,4354,7071,512

135,75151,427

7,386

5,2701,209

29,870

27,380

2,490

7,747

3,791

3 404

141,33570,82570,510

178,969115,56163,408

135,89851,113

7,87629,660

7,71384,78515,35727,9278,7247,018

13,6814,7961,508

137,84252,725

7,424

5,2791,198

31,262

28,801

2,461

7,807

3,877

3,361

8,5202,844

9204,756

138,28968,95769,332

178,197114,64863,549

140,24951,683

7,31828,766

8,64388,56618,80027,7648,3657,780

12,9554,8841,574

139,52953,930

7,640

5,5081,201

31,800

29,364

2,436

7,983

3,944

3,488

136,59967,26169,338

178,884114,17664,708

170,81159,847

7,25528,613

11,130110,96429,94430,8888,499

12,02613,7926,4982,303

139,18954,154

7,822

5,6391,190

31,803

29,350

2,453

7,947

3,986

3,391

131,78663,26568,521

181,054115,88565,169

122,46746,036

5,88027,233

7,50576,43110,95427,2047,9855,480

12,4974,8981,425

140,04053,815

7,742

5,6781,175

31,194

28,725

2,469

8,264

4,123

3,555

73172,810

8953,612

127,41462,00365,411

181,481117,51263,969

118,89145,146

5,49127,201

7,05473,74511,02526,1257,6495,103

11,8854,7781,335

139,42853,071

7,483

5,4091,149

30,643

28,174

2,469

8,287

4,031

3,665

148,92072,94675,974

181,246117,89063,356

139,75953,784

6,77433,262

7,84085,97514,53729,4598,5996,992

13,5675,2231,499

139,51652,886

7,228

5,1901,117

30,787

28,273

2,514

8,195

3,929

3,697

137,56768,01469,553

182,305120,18562,120

137,92453,754

7,86532,491

7,59684,17014,65728,3739,113

6,77413,6484,8141,509

141,41353,901

7,481

5,3511,139

31,407

28,868

2,539

8,329

3,994

3,768

148,83273,23175,601

181,114121,14559,969

148,16558,971

9,06935,242

8,08989,19415,48930,2819,8597,056

14,1535,1781,645

142,54354,139

7,611

5,4021,204

31,172

28,573

2,599

8,366

3,948

3,853

146,662'72,803'73,859

182,346121,043

r61,303

147,055'58,702

'8,737'35,016

'8,308'88,35315,219'30,388'9,819'6,834

14,456'5,0541,675

142,500'54,016

'7,593

'5,3841,193

'31,165

'28,599

'2,566

'8,412

'3,910

'3,928

133,98166,35267,629

181,128121,31359,815

142,373'55,073

'8,162'32,686

'7,989'87,30014,167'30,908'9,859'6,530

14,669'4,8771,707

143,271'54,439

'7,576

5,3381,201

'31,687

'29,111

2,576

'8,247

3,870

3,807

1 150,3601 59,751

1 8,5211 35,747

1 8,5481 90,6091 15,869'30,621

1 9,8981 7,758

1 14,6841 5,126

1 144,2851 55,764

1 7,739

1 32,5031 29,874

1 8,380




below, data through 1986 and 1T .methodological notes are as shown in unils


Annual

1987 1988

1988


1989


DOMESTIC TRADE—Continued

RETAIL TRADE t— ContinuedAll retail stores— Continued

Estimated sales (seas, adj.)— ContinuedNondurable goods stores mil. $

General merch. group stores do....Department stores excluding

leased departments doVariety stores do

Food stores .. doGrocery stores do

Gasoline service stations .. do

Apparel and accessory stores # do....Men's and boys' clothing and

furnishings stores .. doWomen's clothing, specialty stores,

and furriers.. doShoe stores do

Eating and drinking places do.Drug and proprietary stores do....Liquor stores do

Estimated inventories, end of period:Book value (non-LIFO basis),

(unadjusted), total mil $Durable goods stores # . do

Bldg. materials, hardware, garden sup-ply, and mobile home dealers do

Automotive dealers doFurniture, home furnishings,

and equipment do

Nondurable goods stores # doGeneral merch. group stores do....

Department stores excludingleased departments do....

Food stores doApparel and accessory

stores . , do

Book value (non-LIFO basis),(seas adj ) total do

Durable goods stores # doBldg. materials, hardware, garden sup-

ply, and mobile home dealers do....Automotive dealers do....Furniture, home furn.,

and equip do....

Nondurable goods stores # do....General merch group stores do

Department stores excludingleased departments do....

Food stores doApparel and accessory

stores do ....

Firms with 11 or more stores:Estimated sales (unadj.), total mil. $..

Durable goods stores do....Auto and home supply stores do

Nondurable goods stores # doGeneral merchandise group

stores doFood stores do ....

Grocery stores doApparel and accessory stores do....Eating places do ....Drug stores and proprietary

stores do

Estimated sales(sea. adj.), total* .. doAuto and home supply stores do....Department stores excluding

leased departments . doVariety stores . doGrocery stores .. . do

Apparel and accessory stores doWomen's clothing, specialty stores,

and furriers. . . doShoe stores do

Drug stores and proprietarystores do....

201,799105,716

14,12656,596

16,231

96,08333,478

26,51020,521

15,728

206,981106,271

14,82355,500

16,280

100,71036,856

29,03620,362

17,022

567,503

67,8307,274

499,673

162,306179,202176,42041,86637,793

32,255

215,842114,461

14,86160,719

18,030101,38135,222

28,29321,852

16,173

221,242114,994

15,61059,421

18,084

106,24838,766

30,98921,706

17,522

598,623

74,4927,624

524,131

170,529187,687184,82043,88839,302

34,515

'83,306r!5,138

12,678'696

r27,670'25,848'8,432

'6,818

r781

'2,6401,22813,118r4,8681,595

208,442106,236

15,06353,585

16,998

102,20636,746

28,76321,072

17,446

211,534107,443

14,91454,333

17,398

104,09137,741

29,80621,310

17,640

47,757

6,022664

41,735

12,27116,17515,9513,2203,497

2,690

49,705635

12,271556

15,426

3,679

1,412787

2,841

r84,10315,177

12,705r684

r28,077r26,300'8,595'6,841

'764r2,6311,224

13,300'4,9051,576

209,991104,564

14,98350,738

17,568

105,42738,214

30,03921,241

18,305

215,396110,146

14,90856,404

17,728

105,25037,976

30,03921,700

17,789

49,716

6,126690

43,590

13,74115,74515,5203,8143,517

2,798

49,814642

12,220557

15,5823,626

1,398766

2,876

84,32415,251

12,816676

28,01426,2338,534

6,971

785

2,6701,226

13,4084,9601,559

216,706107,559

14,80052,460

18,468

109,14740,278

31,73521,384

18,907

219,297114,303

14,91960,078

18,213,'

104,99437,997

30,10921,475

17,803

48,0675,960

645

42,107

12,98615,56915,3543,5853,314

2,714

50,151635

12,401551

15,4783,712

1,421781

2,893

85,11715,573

13,095700

28,20426,4378,629

7,059

792

2,6981,224

13,5194,9551,547

226,290111,742

14,67454,915

19,127

114,54843,637

34,72322,002

19,772

216,724111,689

14,89757,660

18,027

105,03538,231

30,45921,475

17,813

50,208

6,149682

44,059

14,27015,69415,4793,7083,411

2,748

50,842641

12,688566

15,667

3,773

1,453771

2,902

85.59915,728

13,204704

28,41026,6198,484

7,026

742

2,7611,223

13,6665,0201,571

230,599115,396

14,72857,727

19,337

115,20344,025

35,36122,157

19,651

218,093112,904

15,13758,183

18,106

105,18938,405

30,66921,228

17,656

54,671

6,743652

47,928

17,56515,59515,3634,2633,224

2.860

50,997618

12,793557

15,6453,778

1,483761

2,948

85,03515,754

13,238695

28,02626,263

8,457

7,101

774

2,7501,275

13,6964,8751,590

215,842114,461

14,86160,719

18,030

101,38135,222

28,29321,852

16,173

221,242114,994

15,61059,421

18,084

106,24838,766

30,98921,706

17,522

74,881

10,383634

64,498

27,99417,62717.233e;6783,386

4,14650,802

622

12,834547

15,4003,716

1,480760

2,846

86,22515,985

13,353683

28,73026,9288,477

7,189

808

2,8121,280

13,7785,1291,623

215,551114,898

14,97161,450

17,679

100,65334,682

27,72621,715

15,965

222,584115,704

15,51460,123

18,151

106,88038,578

30,87521,845

17,759

43,742

5,206538

38,536

10,12315,63615,4232,7343,147

2,92452,494

645

12,952548

16,0993,884

1,545782

3,071

86,35715,755

13,238654

29,01627,1938,633

6,978

776

2,7071,209

13,6775,1991,614

221,571117,591

15,64763,816

17,527

103,98036,823

29,49221,658

17,323

224,185116,169

15,69460,631

18,182

108,01689,049

31,27521,910

18,177

42,223

4,854503

37,369

10,21814,81314,5872,6252,986

2,846

51,858647

12,791514

16,0833,779

1,472751

3,159

86,63015,746

13,246643

29,04627,1568,847

6,977

772

2,7231,216

13,5815,1511,619

226,793119,414

16,18764,733

17,799

107,37938,828

31,17021,915

17,922

224,693115,993

15,68560,656

18,162

108,70039,459

31,64521,949

18,067

50,597

5,790641

44,807

13,48716,64916,3843,7853,502

3,110

51,584650

12,790513

15,9533,721

1,474744

3,049

87,51215,878

13,400623

29,24327,4459,186

7,248

781

2,7991,314

13,5675,0571,633

229,201120,293

16,08365,609

17,624

108,90839,711

32,03022,032

18,034

226,656117,093

15,47962,440

17,856

109,56339,496

31,68222,221

18,179

49,761

6,020658

43,741

13,57215,85015,6323,6443,511

2,830

52,305649

12,899494

16,1323,952

1,555844

3,033

88,40415,743

13,208640

29,60627,7689,453

7,287

774

2,8151,329

13,6485,1321,648

'230,642121,298

16,262'68,116

17,655

109,344'39,505

'31,913'22,338

18,003

'230,423118,835

15,667^63,739

17,906

111,588'40,439

'32,531'22,540

18,427

'52,791

'6,663'738

'46,128

14,33116,79116,556'3,812'3,552

'3,081

'52,764'685

12,726'503

16,263'3,988

1,596'828

'3,081

'88,48416,025

13,471'660

'29,592'27,770'9,369

'7,337

'775

'2,7921,345

13,676'5,0951,641

230,804121,525

15,91466,134

17,830

109,27939,226

31,63522,399

17,995

231,888119,548

15,54163,931

18,010

112,34040,922

33,05622,462

18,764

52,308

6,558724

45,750

14,16516,73316,4993,7303,596

3,038

53,066685

12,996521

16,2234,014

1,601833

3,087

'88,83216,088

13,520665

'29,848'28,043'9,336

'7,360

760

2,7831,367

13,748'5,1011,641

1 88,5211 15,950

/ 13,425

1 29,7921 28,006

1 9,1991 7,438

: 13,6091 5,173

LABOR FORCE, EMPLOYMENT, AND EARNINGS

LABOR FORCE AND POPULATION

Not Seasonally AdjustedNoninstitutional population, persons 16

years of age and over thousLabor force @ do.

Resident Armed Forces do....

Civilian noninstitutional population doCivilian labor force, total do....

Employed doUnemployed do

Seasonally Adjusted 0

Civilian labor force, total do....Participation rate f percent..

Employed total thousEmployment-population ratio t percent ..

Agriculture thous ..Nonagriculture do..,.

Unemployed, total do ....Long term, 15 weeks and

over do....

184 490121,602

1,737

182 753119,865112,440

7,425

65.6

61.53,208

109.232

1.983

186 322123,378

1,709

184 613121,669114,968

6,701

65.9

62.33,169

111,800

1.610

186 402125 561

1673

184 729123,888117 066

6823

121,65865.9

115 03462.3

3,060111,974

6,624

1.619

186 522125 088

1,692

184 830123,396116,737

6,659

122,00066.0

115 20362.3

3,142112,061

6,797

1.636

186 666123,546

1,704

184 962121,842115,474

6,368

121,98466.0

11537062.4

3,176112,194

6,614

1.568

186,801124,119

1,687

185 114122,432116,250

6,182

122.09166.0

115 57362.4

3,238112,335

6,518

1,554

186 949124 344

1,705

185 244122,639116,314

6,325

122,51066.1

115 94762.6

3,238112,709

6,563

1.502

187 098123 816

1,696

185 402122,120115 978

6,142

122,56366.1

116 00962.6

3,193112,816

6,554

1.495

187 340123,791

1,696

185 644122,095114,786

7,309

123,42866.5

11671162.9

3,300113,411

6,716

1,512

187 461123,590

1,684

185 777121,906115,023

6,883

123,18166.3

116 85362.9

3,223113,630

6,328

1.304

187,581123,907

1,684

185 897122,223115,844

6,378

123,26466.3

117 13663.0

3,206113,930

6,128

1.310

187,708124,260

1,684

186 024122,576116,347

6,229

123,65966.5

117 11363.0

3,104114,009

6,546

1.426

187,854124,869

1,673

186,181123,196117,039

6,156

123,61066.4

11721563.0

3,112114,102

6,395

1,313

187,995127,235

1,666

186,329125,569118,719

6,850

124,10266.6

117 54163.1

3,096114,445

6,561

1.258

188,149127,904

1,666

186,483126,238119,502

6,736

123,95666.5

117 45963.0

3,219114,240

6,497

1,472

188,286127,132

1,688

186,598125,444119,092

6,352

124,01866.5

117 59763.0

3,307114,290

6,421

1,305




Unless otherwise stated in footnotes

methodological notes are as shown in Unit8


Ann ual

y g

1988

Oct Nov Jan Feb Mar

19

Apr

89

May June July Aug.

LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued

LABOR FORCE— Continued

Seasonally Adjusted 0Civilian labor force— Continued

Unemployed— ContinuedRates(unemployed in each group as percent

of civilian labor force in the group):All civilian workers

Men, 20 years and overWomen 20 years and overBoth sexes, 16-19 years

WhiteBlackHispanic originMarried men, spouse presentMarried women, spouse present ,Women who maintain families

Industry of last job:Private nonagricultural wage and

salary workersConstructionManufacturing

Durable goods . ..Agricultural wage and salary workers ....

Not Seasonally AdjustedOccupation:

Managerial and professional specialtyTechnical, sales, and administrative

supportService occupationsPrecision production, craft, and repair....Operators, fabricators, and laborersFarming, forestry, and fishing

EMPLOYMENT §

Employees on payrolls of nonagricultural estab.:Total, not adjusted for seas, variation thous..

Private sector (excl. government) do ....

Seasonally Adjusted

Total employees, nonagriculturalpayrolls doPrivate sector (excl. government) do....

Nonmanufacturing industries do....Goods-producing do ...,

Mining . doConstruction do

Manufacturing do ....Durable goods do

Lumber and wood products do....Furniture and fixtures doStone, clay and glass products do....Primary metal industries do....Fabricated metal products do...,Machinery, except electrical do....Electric and electronic equip... do .Transportation equipment do....Instruments and related

products doMiscellaneous manufacturing do....

Nondurable goods doFood and kindred products do....Tobacco manufactures do....Textile mill products do....Apparel and other textile

products doPaper and allied products do....Printing and publishing do....Chemicals and allied products do....Petroleum and coal products do ....Rubber and plastics prod-

ucts, nee doLeather and leather products do....

Service-producing do....Transportation and public utilities do ....Wholesale trade doRetail trade do....Finance, insurance, and real

estate doServices . . . doGovernment do..

Federal do...State doLocal . . do

Production or nonsupervisory workers on privatenonagric. payrolls, not seas, adjusted thous.Manufacturing do

Seasonally Adjusted

Production or nonsupervisory workers on privatenonagricultural payrolls thous.

Goods-producing do...Mining do..Construction doManufacturing . . do

Durable goods do..Lumber and wood products do..Furniture and fixtures do..Stone, clay, and glass

products do..Primary metal industries do ..Fabricated metal products do..Machinery, except electrical do..Electric and electronic equip do ..Transportation equipment do..Instruments and related

products do ..Miscellaneous manufacturing. do

6.25.454

169

5.313088394.39.2

6.211 66058

10.5

2.3

43776.19.47.1

102,20085,190

102 20085,19066,16624,708

7174967

19,02411 194

741516586747

1,4012,00820692,051

706371

7 8301,620

55726

1099680

1,5061,026

164

811143

77,4925,3725844

18,483

654724 23617,0102,9433967

10 100

68,97612970

68,97617,358

5113877

129707,439

620413

453563

1,0391,1911,2141,292

384270

5.54.849

153

4.71178233398.1

5.51065350

10.6

1.9

40695.48.47.2

105,58488,212

105 58488,21268,80925,249

7215125

19,40311 437

765530600774

1,4312,08220702,051

749386

7 9671,636

56729

1092693

1,5611,065

162

829144

80,3355,5486029

19,110

6 6762560017,372

2,9714 063

10339

71,41313254

71,41317,775

5194002

132547,635

637423

466592

1,0671,2521,2241,281

412281

544.550

151

4.711 581314.08.5

5.41045249

11.0

2.3

4 1704.67.36.0

105,56089,120

105 76888,41868,97025,323

7255150

19,44811 475

762531602780

1,4382,09220722,058

751389

79731,628

55730

1091695

1,5641,068

162

836144

80,4455,5576038

19,139

667825683173502,9584071

10321

72,20113179

71,59317,844

5234026

132957,672

635425

469599

1,0731,2611,2261,287

414283

5.64.948

154

4.911 484344.07.5

5.61075550

11.0

2.6

41664.27.66.1

105,72989,431

105 95488,57869,15325,303

7255153

19,42511 462

761529600776

1,4352,09420732,052

755387

7 9631,629

55723

1 085694

1,5681,071

162

832144

80,6515,5726051

19,182

66862578417,3762,9674079

10330

72,49813320

71,72317,815

5224023

13,2707,658

634422

468595

1,0701,2601,2271,284

416282

5.44.648

155

4.7109753.13.88.1

5.496545.2

10.8

2.1

426.54.37.76.7

106,60189,416

106 20788,73669,30525,313

7195163

19,43111 464

763530600779

1,4362,09820722,044

756386

7 9671,627

55726

1085693

1,5731,072

162

830144

80,8945,5816071

19,188

6 6952588817,4712,9854088

10398

72,45613413

71,82517,813

5184032

132637,653

635424

466597

1,0691,2611,2271,276

417281

534.647

150

4.611 278313.77.9

5.41005350

10.2

1.9

39685.07.06.3

107,27989,571

106 47588,99169,48625,384

7175162

19,50511 509

770531603783

1,4422,11020732,055

758384

79961,644

55726

1 083695

1,5771,074

162

836144

81,0915,5966086

19,229

67102598617,4842,9864081

10417

72,59613433

72,02117,865

5154026

13,3247,690

641425

469600

1,0761,2701,2281,283

419279

5.44.847

141

4.6112803.33.87.7

5.5106514.99.3

1.6

386.85.27.87.5

107,73689,827

106 82489,29969,74225,460

7125191

19,55711 545

775532605784

1,4452,12020752,060

762387

8 0121,648

56725

1088695

1,5811,075

162

839143

81,3645,6166,104

19,282

67262611117,5252,9834085

10457

72,81013460

72,27317,929

5114053

133657,717

645426

470601

1,0791,2791,2331,283

421280

5.34.747

148

4.6116763.13.78.2

5.4104525.08.8

1.7

356.25.38.27.5

107,91790,098

107 09789,57469,98525,513

7115213

19,58911 565

780532607785

1,4492,12620672,063

767389

80241,646

56724

1090696

1,5881,079

162

840143

81,5845,6346125

19,328

67442623017,523

2,9814085

10457

73,02913420

72,49417,963

5104068

133857,730

647426

472602

1,0821,2851,2241,285

425282

5.44.6'47

16.4

4.61208.43.13.68.0

5.6104535.09.5

2.1

437.06.7

10.09.2

105,91588,380

107 44289,89770,24925,626

7115267

19,64811 605

784532607786

1,4582,13420652,079

770390

80431,650

56728

1092696

1,5951,084

160

839143

81,8165,6546146

19,407

67462631817,5452,9784084

10483

71,33613312

72,77418,065

5104132

13,4237,758

652426

473603

1,0891,2921,2221,294

424283

5.14.545

14.8

4.31196.83.13.48.0

5.11004.94.48.9

2.0

4.06.36.89.28.5

106,34288,463

107,71190,12470,47625,629

7115,270

19,64811 594

778534608786

1,4582,1382,0622,067

772391

80541,650

56728

1,096696

1,5951,085

161

843144

82,0825,6676,171

19,460

676326,43417,5872,9824095

10,510

71,39113,318

72,94918,048

5104 112

13,4267,749

648427

474602

1,0871,2981,2181,286

425284

5.04.24.6

13.7

4.210.96.52.93.57.9

5.09.44.84.78.9

1.8

3.85.96.18.37.9

107,01789,052

107,88890,29170,61125,646

7145,252

19,68011604

777535607788

1,4572,1432,0602,071

776390

80761,655

56729

1,101697

1,6001,088

161

845144

82,2425,6666,197

19,488

677426,52017,5972,9824102

10513

71,92313348

73,10118,052

5144096

13,4427,749

646428

472603

1,0861,2981,2141,292

427283

5.34.64.7

14.4

4.610.88.33.24.07.6

5.49.74.94.7

10.5

1.8

3.67.05.67.86.3

107,94489,975

108,10190,47570,80325,671

7205,279

19,67211,600

772537606788

1,4542,1442,0582,073

111391

8,0721,657

54728

1,098696

1,6011,090

162

843143

82,4305,6826,206

19,489

6,77626,65117,6262,9824,111

10,533

72,75113,362

73,20418,053

5194,104

13,4307,744

642428

471603

1,0801,2981,2131,297

428284

5.24.34.8

15.2

4.411.07.92.93.88.3

5.29.34.94.5

10.3

1.9

3.96.65.16.95.4

108,74590,715

108,31090,62370,95625,672

7225,283

19,66711,594

771534604787

1,4522,1502,0502,076

778392

8,0731,656

53728

1,095697

1,6031,094

162

843142

82,6385,7006,222

19,528

6,79026,71117,6872,9994,119

10,569

73,42813,390

73,31518,058

5214,111

13,4267,735

641427

469601

1,0791,3021,2051,297

430284

5.34.34.9

15.6

4.511.98.12.83.87.9

5.310.05.24.6

11.0

2.0

3.86.94.97.65.1

109,534r91,742

108,607r90,884r71,234r25,648

715r5,283

19,65011,567

769534603

r7871,4492,151

r2,0412,062

779392

r8,0831,663

r52729

1,093697

1,6071,096

163r841142

r82,9595,716

r6,23019,551

r6,808r26,93117,723

r2,995r4,136

10,592

r74,34313,487

r73,55518,022

r511r4,lll

13,4007,706

638426

r468602

1,0741,3031,198

1,284

r429284

5.24.35.0

14.7

4.610.99.02.93.88.7

5.410.55.04.78.5

2.2

4.16.54.08.14.7

108,562'91,746

108,791r91,030r71,371'25,683

r707r5,317

19,65911,554

767535

'602'786

1,4462,156

r2,038r2,051

'781'392

r8,1051,677

53'731

1,096'700

1,6091,094

163

'842140

'83,108r5,741'6,240

19,582

6,812r26,97217,761'2,999'4,161

10,601

r74,31713,302

'73,66218,054

r504r4,135

13,415'7,699

r637r426

467602

1,0731,3091,1971,275

'431'282

5.24.44.7

14.5

4.511.19.03.13.98.0

5.410.35.24.88.6

2.1

3.96.44.57.55.1

"108,680"91,974

"108,901"91,083"71,413"25,724

"729"5,325

"19,670"11,567

"766"531"603"787

"1,443"2,156"2,032"2,074

"782"393

"8,103"1,670

"52"729

"1,098"700

"1,614"1,094

"163

"843"140

"83,177"5,619"6,246

"19,601

"6,836"27,057"17,818"3,004"4,176

"10,638

"74,505"13,475

"73,699"18,096

"524"4,148

"13,424"7,712

"635"423

"469"601

"1,069"1,310"1,193"1,295

"432"285



September 1989 SURVEY OF CURRENT BUSINESS S-llUnless otherwise stated in footnotes

below, data through 1986 and „ ..methodological notes are as shown in unus


Annual

1987 1988

1988


1989



EMPLOYMENT §— Continued

Seasonally AdjustedProduction or nonsupervisory workers — Contin-

uedNondurable goods thous ..

Food and kindred products do....Tobacco manufactures do ...Textile mill products .do....Apparel and other textile

products „ doPaper and allied products do....Printing and publishing do....Chemicals and allied products do....Petroleum and coal products do....Rubber and plastics prod-

ucts, nee do....Leather and leather products do....

Service-producing doTransportation and public utilities doWholesale trade . doRetail trade do ...Finance, insurance, and real

estate.. . . doServices do

AVERAGE HOURS PER WEEK §

Seasonally AdjustedAvg. weekly hours per worker on private nonag.

payrolls: 0Not seasonally adjusted hours..Seasonally adjusted do....

Mining $ doConstruction $ doManufacturing:

Not seasonally adjusted do....Seasonally adjusted do

Overtime hours . . doDurable goods do....

Overtime hours do....Lumber and wood products do....Furniture and fixtures do....Stone, clay, and glass products do ....Primary metal industries do....Fabricated metal products do....Machinery, except electrical do . . . .Electric and electronic

equip , . .doTransportation equipment do....Instruments and related

products doMiscellaneous manufacturing do....

Nondurable goods do ....Overtime hours . do

Food and kindred products do....Tobacco manufactures $ .....do....Textile mill products do....Apparel and other textile

products doPaper and allied products do....Printing and publishing do....Chemicals and allied products do....Petroleum and coal products $ do....Rubber and plastics prod-

ucts nee . doLeather and leather products do....

Transportation and public utilities do....Wholesale trade do....Retail trade . . doFinance, insurance, and real

estate $ doServices . .do

AGGREGATE EMPLOYEE-HOURS §Seasonally Adjusted

Employee-hours, wage & salary workers in non-agric. establish, for 1 week in the month,seas adj. at annual rate bil. hours..

Total private sector doMining do..,,Construction . . doManufacturing do...,Transportation and public utilities do....Wholesale trade do .,Retail trade '. do....Finance, insurance, and real

estate do .Services do...,

Government do ....Indexes of employee-hours (aggregate weekly): 0

Private nonagric. payrolls, total 1977 = 100.Goods-producing < do...

Mining do ...Construction do ...Manufacturing , do ...

Durable goods do...Nondurable goods do...

Service-producing do ...Transportation and public

utilities do...Wholesale trade do-Retail trade do ...Finance, insurance, and real

estate do...Services do...

5,5311,148

42630

923516841575107

629120

51 61844554682

16,431

480821242

34.8

424378

41.0

3741.53.8

40.640.042.343.141.642.2

40942.0

41 439440.236

40.239.041.8

37 043.438.042.344.0

41 638.239.238.129 2

363325

189.9315632

1.58976

40.5310.96116028.07

123741.4533.61

120.798.980.8

132.793.290.796.9

132.8

109.0118.7122.4

140.9152.8

5,6191,163

42632

919524874596105

646119

536374 6104854

16936

484922389

34.7

423379

41.1

3941.84.1

40.339.442.343.641.942.6

41 042.7

41539240.137

40.339.841.1

37 043.238.042.344.4

41 737.539.338129 1

35932 6

196.51161 73

1.5810 10414211.3611 9528.92

12.5043.9034.78

124.9101.581.8

137.595.593.698.3

137.8

113.2122.8125.5

140.9161.5

5,6231,157

41634

917!>$6"

5981Q6

651119

53 74946184867

16,959

485022455

35.134.842 4386

40.741 139

4184.1

40.439.642.243.541942.8

41 042.7

41 739340237

40.439.3410

37 043.238.042.345.3

41 737.239.438129 3

361327

197.2416263

15910 1341.5411.4511 9929.16

125944.1934.61

125.6102.083.5

137.995.994.298.4

138.7

113.7123.3126.5

141.5162.4

5,6121,158

41626

912525877600106

649118

5390846314,876

17,001

485622,544

35.034.642038.6

40.941039

41.74.1

40.139.242.243.541.842.5

40942.7

41539340.13 6

40.340.141.0

36943.238.042.244.6

41 637.539.337.929 0

85732 5

196.77161 88

1.5810 1241.4311.4111.9228.93

12.4344.0634.89

125.1101.581.6

137.895.593.798.0

138.1

113.7122.8125.5

140.1162.1

5,6101,156

40629

912523878600106

647119

540124,6354,890

16,997

4,85822,632

34.834.742238.4

41.341 139

41.94.1

40.139.642.343.942.042.7

40.943.0

41 639240.237

40.341.241.0

37143.238.142.344.8

41 737.539.438129 1

358326

197.5316242

1.5810 1041.5211.4312.0129.00

12.4844.3135.11

125.6101.881.1

138.195.794.198.2

138.8

114.1123.8125.9

140.9163.2

5,6341,169

41629

912524881602106

652118

5415646534,903

17,017

486622717

34.934.842.639.1

41.34124.0

41.94.2

40.739.442.543.741.942.7

41043.1

41839140.23 7

40.441.341.0

36943.238.042.544.7

41 637.839.438.129 2

360327

198.76163 58

158102641.7211.49120529.16

12.5944.7335.18

126.3102.4

81.2139.4

96.294.698.6

139.6

114.6124.2126.5

141.6164.3

5,6481,173

42628

916525883602106

655118

543444,6714,917

17,066

487322,817

34.734.741937.8

41.541.23.9

41.94.2

40.339.542.643.742.142.5

41043.1

41639340.23 6

40.640.341.0

37 043.137.942.344.2

41 737.339.338029 0

35732 5

198.14163.57

1.55103841.8411.51120529.09

12.5144.6534.57

126.3102.8

80.0141.1

96.594.998.8

139.2

114.7124.2126.0

140.6164.0

5,6551,172

42628

919525886604105

656118

545314,6914,931

17,106

487922,924

34.934.742837.3

41.741039

41.74.1

40.339.442.443.541.842.5

40842.8

41 139040.036

40.239.940.5

36843.237.842.344.3

41 437.739.438.129 1

35.8327

199.16164 08

1.56102741.7211.5612 1129.30

12.5844.9735.08

126.8102.3

80.2139.4

96.294.698.4

140.3

115.5124.9126.7

141.2165.8

5,6651,175

41630

922524887607104

656119

54,7094,7044,948

17,171

4,88623,000

34.534.842.236.5

41.041.13.9

41.84.1

40.339.842.543.641.942.5

40.942.8

41.539.440.136

40.138.040.9

37043.138.042.343.5

41738.039.638.1291

36.1327

200.3116499

1.5610.2941.9311.6412.1629.44

12.6945.2835.32

127.4103.0

79.9141.2

96.795.298.9

140.9

116.4125.3127.2

142.1166.4

5,6771,177

41630

926524888608105

659119

54,9014,7184,970

17,215

4,89323,105

34.334.641.736.2

40.841.13.9

41.84.1

39.639.742.243.441.942.6

40.943.1

41.539.540.23.7

40.337.840.8

37.143.238.042.344.0

41738.639.438.128.9

35.8325

200.32164.72

1.55103241.9511.6312.2329.24

12.6145.2035.60

127.2102.980.1

140.596.795.099.3

140.6

116.2125.9126.7

140.8166.1

5,6931,182

41630

930525891610105

660119

55,0494,7184,990

17,244

4,90023,197

34.434.742.037.4

41.041.0

4.041.74.1

40.039.842.243.541.842.5

40.643.1

41.139.540.13.8

40.436.341.1

36.943.337.942.343.2

41.638.039.438.128.9

35.832.6

200.33165.01

1.5710.3441.9111.6212.2829.29

12.6245.3835.32

127.6102.981.1

140.396.794.999.5

141.2

116.2126.4126.9

141.8167.3

5,6861,184

40630

927524889609105

660118

55,1514,7354,996

17,235

4,90223,283

34.834.942.837.9

41.041.33.9

41.94.1

40.539.942.543.341.942.7

41.042.8

41.539.840.43.8

40.738.141.7

37.643.437.942.644.3

41.638.340.138.329.1

36.332.8

202.10166.62

1.6110.4142.0811.8112.3729.47

12.7946.0935.49

128.7103.5

83.4141.0

97.295.2

100.1142.8

118.6127.2,127.7

143.8168.9

5,6911,184

38630

925525891614106

660118

55,2574,7525,007

17,280

4,91823,300

34.534.642.037.7

40.941.03.8

41.53.9

39.739.441.943.241.742.5

40.742.5

41.139.640.23.7

40.539.541.4

37.143.337.742.143.9

41.537.439.537.928.9

35.632.5

200.85165.17

1.5710.2141.8811.71

, 12,2429.32

12.5945.6535.68

127.6102.481.8

138.296.494.399.5

141.5

117.3126.1127.2

141.9167.5

'5,6941,190

38'630

922'525'892'616107

r656118

r55,533"•4,763r5,016

17,317r4,933

'23,504

34.834.6

r42.61 38.0

41.141.03.8

41.53.9

39.8r39.442.243.341.542.5

40.742.5

41.339.4

'40.33.6

r40.7'40.141.4

'37.1'43.337.842.5

'44.6r41.537.939.438.028.9

35.832.5

'201.37165.96

1.5710.32'41.9111.77

12.31'29.35

. 12.71'46.04'35.41

128.1102.5'81.2

139.3'96.494.0

'99.9142.2

117.3126,7127.4

142.7169.0

'5,7161,203

r39632

'923528

'894616

107

'657117

'55,608'4,773'5,022

17,334

'4,944'23,535

35.1'34.8'42.8'38.9

40.541.03.9

41.54.0

'39.6'39.3'42.4'43.0'41.642.3

40.7'42.6

'41.3'39.3'40.2

3.8'41.1'37.8'41.2

'37.0'43.137.642.5

'44.3

'41.4'37.7'39.438.129.2

'36.832.8

'202.65167.27

1.5610.54'41.8811.8212.39'29.73

12.90'46.45'35.38

129.2103.0'81.0

142.8, ^96.4

93,8100.2143.6

117.5127.2128.9

145.0170.8

"5,712"1,197

"38"629

"925"528"896"614"107

"661"117

"55,603"4,642"5,030

"17,368

"4,958"23,605

"35.0"34.6"43.2"38.9

"40.8"40.9"3.8

"41.5"4.0

"40.1"39.4"42.7"42.5"41.6"42.1

"40.8"42.5

"41.0"39.8"40.2"3.7

"40.8"37.7"40.9

"36.9"43.3"37.8"42.4"44.5

"41.3"38.2"89.4"38.0"28.9

"35.8"32.6

"201.99"166.58

"1.63"10.55"41.89"11.53"12.34"29.46

"12.75"46.44"35.41

"128.5"103.2"84.2

"143.2"96.4"94.0"99.9

"142.5

"114.3"127.1"127.8

"143.4"170.2




below, data through 1986 and ¥ T .,methodological notes are as shown in Units


Annual

1987 1988

1988


1989



HOURLY AND WEEKLY EARNINGS §

Average hourly earnings per worker: <>Not seasonally adjusted:

Private nonagric. payrolls '. dollars..Mining doConstruction doManufacturing . do

Excluding overtime doDurable goods do

Excluding overtime . . . . doLumber and wood products . doFurniture and fixtures do....Stone, clay, and glass products do....Primary metal industries do....Fabricated metal products do....Machinery, except electrical do....Electric and electronic

equip do....Transportation equipment... doInstruments and related

products doMiscellaneous manufactur-

ing do

Nondurable goods doExcluding overtime do....

Food and kindred products.. doTobacco manufactures do....Textile mill products doApparel and other textile

products doPaper and allied products.... doPrinting and publishing do....Chemicals and allied products do....Petroleum and coal products do...,Rubber and plastics prod-

ucts, nee doLeather and leather products do....

Transportation and public utilities do....Wholesale trade doRetail trade doFinance, insurance, and real

estate . doServices do

Seasonally adjusted:Private nonagricultural payrolls dollars..

Mining doConstruction doManufacturing doTransportation and public utilities do....Wholesale trade doRetail trade doFinance, insurance, and real

estate doServices do

Indexes of avg. hourly earnings, seas, adj.: <>Private nonfarm economy:

Current dollars 1977 = 100 ..1977 dollars t do.

Mining t$ doConstruction doManufacturing doTransportation and public utilities doWholesale trade ft doRetail trade doFinance, insurance, and real

estate ft .. doServices do

Hourly wages, not seasonally adjusted:Construction wages, 20 cities (ENR): §§

Common labor $ per hrSkilled labor do

Railroad wages (average, class I) . doAvg. weekly earnings per worker,

private nonfarm: <>Current dollars, seasonally adjusted1977 dollars, seasonally adjusted tCurrent dollars, not seasonally adjusted:

Private nonfarm total dollarsMining doConstruction .. .. doManufacturing do

Durable goods doNondurable goods do

Transportation and publicutilities do

Wholesale trade do..Retail trade doFinance, insurance, and real

estate doServices do

EMPLOYMENT COST INDEX

Civilian workers t 6/81-100Workers, by occupational group

White-collar workers do..Blue-collar workers doService workers do

Workers, by industry divisionManufacturing do..Nonmanufacturing do

Services do.Public administration do..

HELP- WANTED ADVERTISINGSeasonally adjusted index 1967 — 100

See footnotes at end of tables

8.98125412719 919 48

10449988 407.67

10.2511.9410.0010.72

9.881294

9 72

776

9 188.78893

14.077 17

59411 4310.2812.3714.58

8926.08

12.03960612

873849

8.9812 541271991

12.039 60612

873849

173.594.0

182.2154.9174.9176.1177.1160.9

187.5181.1

1686221214 25

312 50169.28

312 50531 70480 44406 314332636904

471 58365.7617870

316 9027593

153

9.29""275130110 18972

107110218 617.94

10.4712.1510.261101

10.131331

9 98

801

9 439.029 10

14.68737

612116510.52126714.98

9146.27

12.32994631

9 098 91

9.29127513 01101812329 946 31

9098 91

179.093.3

185.5158.3178.8181.1182.7165.9

195.7189.8

17 3322671500

32236167.81

32236539 334930841840447 6837814

484 18378.7118362

3263329047

158

9.241272129610 17973

10 6710218 667.99

10.5312.2210.201098

10.131319

996

798

9 469.059 12

15.78731

603117210.4812701493

9156.19

12329 95628

9038 80

9.31(i)130510 181235998632

9 11893

179.393.2

185.8158.8178.8181.5183.0166.8

194.8190.8

17 4022611504

323 99168.39

3243253933500 26413 92439 60377 45

49034381.0918840

3259829040

159

9.2412 69129910 13967

106510 168 588.02

10.4512.1010.211097

10.1513 21

9 94

795

9418.98902

14.97737

60911 6510.54126214.84

9176.22

12359 916 26

9038 81

9.32(i)130310211237995633

9 09895

179.592.9

185.6158.6179.3181.9182.1166.7

195.2190.9

17 4122711487

322 47166.82

3234053298501 41414 32439 85378 28

49030376.58186 55

322 3728897

180

9.40128213 161025975

107810258 698.09

10.5512.2410.341109

10.1913 44

9 99

801

9 509.05911

14.09743

6 2111 7210.7012751501

9226.30

124010 04638

9 149 00

9.37(i)13071025123710036 36

9 189 00

180.393.0

186.6159.3180.0382.0184.5167.1

197.0191.9

17 4222801503

325 14167.68

327 12541 00505 34423 334527638475

489 80382.52185 66

327 21292 50

144.0

1479137 2147 2

1390146157 71540

153

9.45127913 1710 25976

107910268 778.06

10.5712.1910.3411 11

10.161345

1008

810

9499.059 03

14.01745

6 2211 6810.6812781514

9236.33

124210 10639

9 29909

9.43(i)13081029124110 14638

9 359 07

181.593.1

186.5159.2180.5183.1186.0168.4

200.2194.0

17 5522891491

328 16168.55

329 81544 85514 9542333453 1838245

490 59385.82185 95

334 44297 24

161

9.4612 8913 081031982

108510328 698.02

10.6012.2210.361122

10.241356

1007

812

9 549.119 15

14.56747

62511 7410.6712861518

9266.41

12.461007643

9 279 11

9.42(i)13 1010 30123910 06640

9269 05

181.492.9

187.1159.3180.7182.9185.1168.9

199.5193.3

17 60229415 11

326 87167.28

3282654009494 42427 87457 8738637

489 68382.66185 18

330 9429608

158

9.4613 0313 1910 37988

109010 368768.06

10.5712.2610.4411 24

10.291359

10 13

820

9 619.189 25

14.31752

6 2911 8110.7012901521

9316.44

124210 14643

9329 16

9.45(i)13 151031123610 11643

Q OK

9 10

181.792.7

187.3159.9180.9182.8186.6168.2

200.2193.9

17 622299

1528

327 92167.39

330 15557 68491 99432 43463 25389 21

490 59387.3519033

333 6629862

145.5

1497138 2148 5

140 1147 71597154 4

16

9.5413 2013 2610 379Q1

109010 408718.10

10.5912.2710.451121

10.2713 58

10 12

822

9 829.229 27

14.39760

63211 7810.7312851524

9326.48

124710 23648

9 469 25

9.49(i)13 181033124510 19

6*44

9 409 15

(2)(2)(2)(2)(2)(2)(2)(2)

(*)(2)

17 632299

1530

330 25167.55

329 13557 04483 99425 174556238384

490 07387.7218403

341 51301 55

156

9.5513 2213 2110389 92

10 9110418 698.08

10.6212.2710.461123

10.2613 59

10 14

8 23

9 629.229 26

14.75759

63211 8010.7412881545

9316.49

12501023647

947928

9.52(i)13 221037124810 186 45

9 359 19

17 642302

15 59

329 39166.44

327 57551 27478 20423 504527738288

488 75386.69183 10

339 03300 67

15

9.5613 1513 2610 419 94

109310438 688.13

10.6212.2710.4711 25

10.3013 65

10 17

823

9 669.249 33

15.34759

63411 8410.7912911546

9336.54

12461021648

9 439 29

9.54(i)13261040125010 21647

9 369 24

17 6423 051525

331 04166.44

328 86552 30495 92426814557838543

488 43386.96184 68

337 59301 00

1473

151 9139 61500

141 91497161 81567

15

9.621319133010 419 95

109310448768.12

10.7112.2610.481126

10.311360

10 17

821

9 659.25932

15.87760

6 32118310.73129215.50

9356.55

12511036652

9 599 34

9.61(i)13331040125210366 51

9549 32

17 6423 051533

33539167.53

334 78564 53504 07426814557838697

497 90395.75188 43

348 12306 35

15

9.5913 1313281042998

109410478798.16

10.6912.2510.4911.29

10.331358

10 17

824

9 689.289 34

16.13762

632118910.7612.9815.34

9406.58

12.491028649

9489 30

9.60(i)1332104212.541028649

9.45933

17 6423 051529

332 16165.01

33086551 46500 66426 18454 01387 20

49086389.6118691

337 49301 32

152

9.581303r!32410449 98

10981049r885r8.23

r!0.7312.32

10.5111.32

10.371365

10 25

r824r970r9.28937

16.487.65

63311 9110.7512.9815.23

r941r6.59

12.481031

r649

r9 489 26

9.62(i)

13321045

12.541033

r652

r9.53934

17 742312

1535

33285165.10

333 38r555 08r503 12429 08457 87

r390 91

r494 21r392.81189 51r339 38302 80

1489

1534141 3151 2

1435151 2163 11579

147

9.63129713.3310481002

11001053

r893r8.25

10.7412.4110.5111.36

10.4313.64

1029

r830r976r9.34935

16.31r7.65

r628120510.8213.11

15.31

r945r6.53

12.571040

r649

9 58933

r9.70(i)

134210.4912.6010 44

r654

9.67946

177423121535

r337 56167.03

338 01r555 12r518 54r424 44r449 90r390 40

r500 29-398.32194 05

''347 75308 82

149

"9.60-D13.11"13.31"10 45"997

"10 99"1049"898"8.30

"10.76"12.32"10.50"11.33

"10.45"13.72

"1031

"8.16

"972"9.27"926

"15.39"7.70

"635"1192"10.87"13.14"15.18

"9.43"6.57

"12.52"1035"649

"9 50"929

"9.69(i)

"1335"10.53"12.53"1039"656

"9.57"943

]7 742312

"335 27"165.89

"336 00"566 35"517 76"426 36"452 79"390 74

"498 30"394.34"19275

"340 10"305 64



below, data through 1986 and ,, .,methodological notes are as shown in unns


Annual

1987 1988

1988

July Aug. Sept. Oct. Nov. Pec.

1989



WORK STOPPAGESWork stoppages involving 1,000 or more workers:

Number of stoppages:Beginning in month or year number..

Workers involved in stoppages:Beginning in month or year thous ..

Days idle during month or year do....

UNEMPLOYMENT INSURANCE *State programs:

Initial claims thousAverage weekly insured unem-

ployment.., do ..Rate of insured unemployment @ percent..Total benefits paid mil $Weeks of unemployment com-

pensated thous ..Average weekly benefit . dollars

Federal civilian employees unemploymentinsurance (UCFE):

Initial claims thous ..Average weekly insured unem-

ployment . doTotal benefits paid. .. . mil $Weeks of unemployment com-

pensated thous ..Average weekly benefit dollars..

Veterans unemployment insurance (UCX):Initial claims thousAverage weekly insured unem-

ployment doTotal benefits paid mil $Weeks of unemployment com-

pensated thous ..Average weekly benefit dollars..

46

174r4,456

16,795

2,2652.4

14,175

103,895146.23

117.8

21.2131.7

1,002.1131.43

140.0

17.8121.0

7949152.26

40

118'4,364

15,919

2,0482.1

13,070

92,919145.86

121.4

22.31431

1,043.6137.09

141.7

18.1123.1

787 6156.27

4

21726

1 465V '

1,8902.0925

6,738141.75

12.5

20.710^5

76.2137.19

10.3

23.013.1

86.3151.64

7

12713

1,189

1,9551.9

1,075

7,731143.35

11.0

24.313^5

99.8135.22

9.7

20.313.4

81 9163.58

2

4510

1,031

1,6551.7

876

6,313143.84

8.9

21.61L3

84.9133.07

8.3

14.38.3

532155.64

3

9293

1,107

1,6021.6

784

5,710144.26

10.9

22.811.5

86.1133.95

8.5

12.56.7

428156.83

1

278

1,277

1,6861.8

943

6,748136.07

9.5

23.813^4

97.8137.35

9.4

12.37.0

44 1159.26

0

052

1,633

1,8242.1

1,085

7,638147.19

9.5

22.5131

95.2137.94

9.9

12.87.5

47 6158.32

3

7153

1,949

r2,6472.6

1,411

r9,875148.36

12.2

r27.4T15.2

106.9142.19

11.3

16.7r9.4

r59.2159.05

0

0138

1,319

2,6182.6

1,252

8,722148.28

8.0

25.813^3

91.1145.54

9.1

16.58.3

52.2158.44

2

30950

1,363

2,5202.5

1,529

10,474151.06

7.9

22.9144

r98.1T 147. 02

10.8

15.6r9.6

r604158.66

r4rl

1,064

1,109

r2,2462.1

1,141

7,882149.83

8.1

20.010.4

72.0144.22

9.0

15.07.9

49 4159.00

7

551,227

1,209

1,9631.9

1,127

7,727179.30

8.9

18.010.3

71.6144.33

9.2

14.38.8

54 0162.38

0

0938

1,311

1,8551.9

1,204

6,614162.81

10.7

18.39.7

69.0140.33

8.8

14.07.8

484161.80

8

1451,364

2.1

7

2043,717

FINANCE

BANKINGOpen market paper outstanding, end of period:

Bankers' acceptances mil $Commercial and financial company

paper, total doFinancial companies do..

Dealer placed doDirectly placed do

Nonfinancial companies . do

Loans of the Farm Credit System: **Total, end of period . mil $

Federal land banks and Federalland bank associations do..

Federal intermediate credit banks andproduction credit associations . . do

Banks for cooperatives doFederal Reserve banks, condition, end of period:

Assets, total # mil. $..

Reserve bank credit outstand-ing, total # do....Loans do....U.S. Government securities do....

Gold certificate account do

Liabilities, total # doDeposits, total do

Member-bank reserve balances do. .Federal Reserve notes in circu-

lation do

All member banks of Federal Reserve System,averages of daily figures:

Reserves held, total mil $Required doExcess .. do

Borrowings from Federal Reservebanks do

Free reserves t do....Large commercial banks reporting to Federal

Reserve System, last Wed. of mo.: $Deposits:

Demand total # mil $Individuals, partnerships, and

corporations doStates and political subdivisions do....U.S. Government do....Depository institutions in U.S do....

Transaction balances other than demanddeposits do

Nontransaction balances, total do ....Individuals, partnerships, and

corporations do ....

Loans and leases(adjusted),total § do....Commercial and industrial do....For purchasing and carrying

securities doTo nonbank depository and other

financial do ....Real estate loans doTo States and political subdivisions do....Other loans . . . . do

Investments, total do....U.S. Treasury and Govt. agency securities,

total doInvestment account do ..

Other securities do

70 5652 373 586? 287 2742 115 0342172'240

2 86 312

52498

34,346

99278225

275,566

236,0463,815

222,55111 078

275 566

4836841 784

212 890

3 62,1233 61,094

3 1 0293 1113 735

247 359

190 5586,7443,258

27,448

67094565,046

524,423

846,807287,232

12490

23,925260 308

32,448230 404

196,268

122 902111,85873366

1 66 678

451 762354 127161 535192 59297 635

51 428

(4)

(4)

9 990

293,674

250,9452,170

238,42211 060

293 674

48 89839 347

229 640

3 63 7393 62 699

51 04031 716

3 568

247 292

195 4776',9932,706

24,194

75369624,122

585,340

918,742302,544

13930

22,685299 18028,608

251 795

200,900

128 626114,25572274

63 240

419 003327 959143 725184 23491 044

275,408

236,0753,650

224,45011 063

275 40844 4Q439 994

217 240

6275661 7491 007

3440105

226 623

177 8026,1562899

22,710

71 614603,936

564,529

891,898299,456

11 994

22,302283 67230,352

244 122

203,860

130 854113 34073 006

64036

422 090331 754145 427186 32790336

274,592

233,8823,237

222,79511 061

274 5924288137868

218 068

61 96561 012

953

3241365

229 814

184 3006,1571656

21,829

73 511609,987

569,683

898,166296,817

13667

22,479288 28930,036

246 878

203,630

130 81411398272816

63 452

425 104332 630151 039181 59192474

52 583

(4)

(4)

9734

285,185

243,6072,154

229,18111 062

285 185

5275739038

217 676

6215361 181

972

2839192

221 621

174 3385,7882,083

20,696

70 240611,896

572,104

894,711296,542

12530

22,158290 991

29,754242,736

203,339

130 713114,18372 626

62253

429 549332 513147 759184 75497036

279,331

238,3702,275

225,63811 062

279 33146 54739741

219 232

61 91560 8531 062

2299544

215612

172 6755,5752610

20,272

71 308616,569

576,524

897,345297,205

12651

21,195293 24229,351

243 701

207,287

134 510114 28372777

65 961

442 396344 544151 581192 96397 852

285,638

243,8032,328

232,70211 059

285 6384585940012

224 535

6240761 2871 119

2861580

240 926

191 8276^4562950

22,105

73 593622^679

583,032

911,557301,245

15271

21,953296 02390 070£O,o<G248 192

209,162

135 852116 03573 310

66 631

451 762354 127161 535192 59297 635

51 428

(4)

(4)

9 990

293,674

250,9452,170

238,42211 060293 674

4889839347

229 640

6373962 6991 040

1 716568

247 292

195 4776,9932706

24,194

75369624,122

585,340

918,742302,544

13 930

22,685299 18028,608

251 795

200,900

128 626114,25572274

62212

468 690362 469163 718198751106258

286,771

241,413863

232,93311 056

286 77148 24535810

221 619

63468623231 145

1 662529

219 344

175 0186,7702531

19,438

75237651,078

609,532

930,811305,191

12455

21472310 55228,204

252 937

208 049

135 361118 24072688

r62 933

5 487 0075 377 7495 174 go?5 202 9425 109 258

284,582

230,7951,602

229,49911 061

284 58244 12636 985

222 769

6069359 5391 154

1 487717

228 937

180 9835,8681709

23,360

75988657,457

615,019

942,133310,049

13480

20728312 66528,099

257 112

206 933

134 62211975172311

62458

486 783377 094173 464203 630109 689

50744

(4)

(4)

10407

281,635

238,4352,454

228,64311 061

281 6354258737394

224 857

6021259255

'957

1 813478

217 181

173 6785,2092983

18,950

75405667,647

625,488

948,923311,341

15 134

19,728317 55427,913

257 253

209,095

137 141120 49571 954

64357

498 606379 647172 577207 070118959

303,807

257,4981,952

232,15011 061

303 807

61 75337 968

225 336

6128860511

776

2289194

220 021

1747186,2474649

18,566

77 623667,325

626,052

948,203314,405

14 102

20,090321 92327,790

249 893

205,873

134 160121 25571 713

62396

501 589378 388170 122208 266123 201

286,551

234,2862,033

223,53511 060

286 5513979433553

229 372

58,911578811 031

1 720508

244 260

190 1315,8922,678

25,996

74221673,101

631,781

963,908317,944

15608

21,390325 62327,580

255 763

209 879

137 223124 00672656

64 182

504 371380 375170 174210 201123 996

295,816

239,059841

231,76711063

295,816

5003837381

230 848

59,58758681

905

1 490332

219 534

173 8226,0782,526

20,429

71824674,682

634,527

963,995314,094

16998

21,699330 03226,996

254 176

212,395

140,746128,57871 649

65558

503,095381,029175 978205 051122,066

283,237

226,230594

218,67611 066

283,237

4025834,339

230 229

60,254r59 288

r966

694r378

215 981

172 3435,8623,046

19,246

72951682,063

642,708

967,448319,308

16,360

21,813333 95326,735

249 279

214,014

142 550129,32671 464

282,515

225,192541

217,40911 066

282,515

3911431,924

230 766

59,57558681

894

675260

215034

172 0975,1823,084

19,517

73459686,827

647,353

971,706317,064

16280

21,815340 85426,514

249 179

214,323

143 671131 50170652




below, data through 1986 and ,, .,methodological notes are as shown in


Annual

1987 1988

1988


1989


FINANCE—Continued

BANKING-Continued

Commercial bank credit, seas, adj.: §Total loans and securities <) bil. $ ..

U.S. Government securities \ do....Other securities ' d oTotal loans and leases 0 '. do ....

Money and interest rates:

Prime rate charged by banks on'short-term business loans.....";....: percent..

Discount rate (New York FederalReserve Bank) @@... do

Federal intermediate credit bankloans do

Home mortgage rates (conventional 1stmortgages):

New home purchase (U.S. avg.) percent..Existing home purchase(U.S. avg.) do....

Open market rates, New York City:Bankers' acceptances, 90 days do ....Commercial paper, 6-month $ do....Finance co. paper placed di-

rectly, 6-mo do

Yield on U.S. Gov. securities (taxable):3-month bills (rate on new issue)... percent..

CONSUMER INSTALLMENT CREDIT t


Total outstanding (end of period) # mil. $..By major holder:

Commercial banks doFinance companies do....Credit unions . doRetailers doSavings institutions do....

Seasonally adjusted

Total outstanding (end of period) # do....By major holder:

Commercial banks doFinance companies doCredit unions do.Retailers . . . . .. doSavings institutions ., . do

By major credit type:Automobile doRevolving doMobile home do

Total net change (during period) # . . doBy major holder:

Commercial banks doFinance companies doCredit unions do..Retailers doSavings institutions do

By major credit type:Automobile doRevolving do...Mobile home do

FEDERAL GOVERNMENT FINANCE

Budget receipts and outlays:Receipts (net) , . mil $Outlays (net) doBudget surplus or deficit (— ) do....

Budget financing total doBorrowing from the public . . doReduction in cash balances do

Gross amount of debt outstanding do ...Held by the public do..

Budget receipts by source and outlays byagency:Receipts (net), total mil. $

Individual income taxes (net) - doCorporation income taxes (net) do . . .Social insurance taxes and contributions

(net) mil $Other . do

Outlays (net), total do...Agriculture Department do ...Defense Department, military do . . .Health and Human Services

Department mil $Treasury Department do...National Aeronautics and

Space Adm .. doVeterans Affairs Department do ...

GOLD AND SILVER:Gold:

Monetary stock, U.S. (end ofperiod) @ mil $

Price at New York ft dol. per troy oz.

Silver:Price at New York $$ dol. per troy oz.

2,239.6335.5195.3

1,708.8

8.22

5.66

8.54

28.9428.94

6.756.85

6.37

5.820

618,191

287,154141,12081,00745,08060,226

1 854,1431 1,003,804'-149,661

1 149,6611 151,7171 -2,056

1 2,355,2061 1,897,761

1 854,1431 392,557

1 83,926

1 303,3181 74,342

1 1,003,804'49,593

' 273,938

'351,315' 180,345

'7,591'26,952

11,078446.504

7.009

2,417.2361.4194.0

1,861.9

9.32

6.20

(3)

8.839.01

7.567.68

7.14

6.690

671,362

323,931146,21287,11047,86362,572

'908,953'1,064,105-155,151

'155,151'166,183

' 11 032

'2,614,581'2,063,900

'908,953'401,181'94,195

'334,335'79,241

' 1,064,105'44,003

'281,940

'373,169' 202,472

'9,092'29,244

11,060436.931

6.535

2,362.7349.6196.8

1,816.3

9.29

6.00

8.808.98

7.777.90

7.19

6.730

637,992

301,993144,85683,71941,00262,582

639,207

302,283144,77483,88642,02362,537

277,659165,34326,213

1,371

1,179-743

238172533

-39993539

60,69083,608

-22,918

22,9183,639

19,279

2,560,7952,025,897

60,69025,791

1,499

26,9156,485

83,6082,300

23,856

29,22813,291

8052,355

11,063437.633

7.146

2,377.6350.9196.5

1,830.1

9.84

6.37

8.689.00

8.198.36

7.57

7.020

647,753

308,114145,76985,29541,30463,303

644,666

307,355143,99284,64742,12162,843

279,585167,12526,277

5,459

5,072-782

76198

306

1,9261,782

64

69,47992.558

-23^079

23,07923,367-288

2,586,0912,049,267

69,47931,942

1,461

28,3737,703

92,5582,221

23,764

32,16214,901

7172,261

11,061431.313

6.708

2,381.5353.1195.2

1,833.2

10.00

6.50

8.908.98

8.068.23

7.71

7.230

651,759

312,195146,25885,90841,29662,291

646,556

310,132143,01984,90042,34962,502

279,243168,27326,185

1,890

2,777-973

253228

-341

-3421,148-92

97,80387,63010,173

-10,17314,706

-24,879

2,614,5812,063,900

97,80341,78420,668

28,6946,657

87,6302,764

21,036

32,27113,045

5303,091

11,062412.790

6.365

2,401.4355.6196.8

1,848.9

10.00

6.50

8.779.11

8.158.24

7.80

7.340

653,059

312,945146,49086,46341,72361,712

649,132

312,588143,01285,33842,61461,926

278,902170,13126,033

2,576

2,456-7438265

-576

-3411,858-152

63,64690,655

-27,009

27,00910,28516,724

2,636,6572,074,217

63,64631,287

1,794

23,8486,717

90,6555,769

25,189

29,13813,838

9981,854

11,062406.781

6.285

2,410.2358.8195.9

1,855.6

10.05

6.50

9.059.16

8.558.55

7.94

7.680

659,193

317,589146,03986,82343,04262,091

654,413

316,683143,48885,74042,91061,922

279,926173,03026,005

5,281

4,095476402296-4

1,0242,899-28

64,40893,542

-29,134

29,13431,636

-2,502

2,672,2112,105,852

64,40829,822

1,442

25,0758,069

93,5425,318

23,905

31,95616,943

9932,705

11,059420.068

6.275

2,417.2361.4194.0

1,861.9

10.50

6:50r

9.049.31

8.968.97

8.24

8.090

671,362

323,931146,21287,11047,86362,572

659,507

318,925145,18086,11843,49862,099

281,174174,79225,744

5,094

2,2421,692

378588177

1,2481,762-261

93,795105,237

-11,442

11,44211,910-468

2,707,2842,117,766

93,79539,67322,160

24,6987,265

105,2374,917

28,201

33,49134,643

8843,531

11,057418.488

6.108

2,422.8360.4189.6

1,872.9

10.50

OS 6.50

9.209.31

8.939.02

8.44

8.290

684,674

318,287141,19486,98042,80462,792

682,020

316,797141,79587,09340,98662,867

286,382176,71626,036

22,513

-2,127-3,385

9752 513

768

5,2081,924

293

89,36986,563

2,806

-2,8067,359

-10,165

2,720,7422,125,125

89,36948,6273,181

31,6525,909

86,5634,610

19,281

31,48715,555

8221,182

11,056404.014

5.972

2,451.9361.8190.4

1,899.7

10.93

6.59

9.469.44

9.279.35

8.65

8.480

682,274

316,898141,29286,86541,07162,674

687,397

318,423143,41987,81341,05263,109

288,767178,57025,992

5,376

1,6261,624

72067

242

2,3851,854-44

61,97889,850

-27,871

27,87117,19010,681

2,745,5772,142,315

61,97823,427

907

32,0865,559

89,8504,153

22,546

32,22716,554

7092,278

11,061387.776

5.891

2,464.9368.8189.7

1,906.5

11.50

7.00

9.639.62

9.839.97

9.17

8.830

682,154

314,743140,20787,34640,76262,007

691,162

318,242143,070' 88,514

41,30062,735

288,850182,83124,168

3,765

-181-349

701247

-375

824,261

-1,824

68,276104,055

-35,779

35,77913,40522,374

2,763,5622,155,684

68,27617,76912,501

30,2687,739

104,0553,832

28,918

35,55316,451

1,0433,758

11,061390.143

5.930

2,470.9370,7187.2

1,913.1

11.50

7.00

9.889.76

9.689.78

9.29

8.700

687,288

318,603141,73088,22240,59161,808

693,911

320,458144,37889,33041,30161,919

289,654184,50023,993

2,749

2,2161,308

'8161

'-816

8041,670-174

128,95288,38140,572

40572-1,29139281

2,779,2912,154,393

128,95268,53314,689

39,4966,234

88,3814,589

20,590

31,65016,504

8091,246

11,061384.400

5.791

2,486.3373.5186.4

1,926.5

11.50

7.00

9.8210.13

9.359.29

8.97

8.400

692,263

321,053143,26588,87440,82961,648

698,132

323,363145,52389,89041,32361,311

290,741186,50223,952

4,221

'2,9051,145

560'22

'-608

1,0872,002-41

71,11596,581

-25,466

25,46610,21415,252

2,800,1282,164,607

71,11525,336

1,926

35,3498,504

96,5813,677

24,327

34,38319,317

9662,805

11,060371.316

5.447

2,496.8373.8

185.81,937.3

11.07

7.00

10.0910.27

8.978.80

8.22

8.220

'697,270

'323,107144,882'89,48840,962

'60,178

r700,849

'324,438146,055'90,07341,649

'59,920

'290,192189,622'23,685

'2,717

1,075532

'183326

'-1,391

' 549'3,120'-267

108,317100,528

7,789

-7,7891,0988887

2,823,9552,165,705

108,31749,87620,570

31,2766,594

100,5283,209

28,379

38,81835,727

9983,587

11,063367.598

5.280

2,518.1374.4184.6

1,959.1

10.98

7.00

10.0610.10

8.548.35

7.80

7.920

699,243

323,306145,42490,10840,78760,134

700,569

323,559145,48890,28941,79860,092

288,730190,89023,626

-280

-879-567

216149172

1,4631,268-60

66,25584,494

-18,239

18,239-3,96222,201

2,824,4872,161,743

66,25529,377

2,042

27,9416,896

84,4943,018

20,478

31,64214,388

8221,211

374.978

5.236

10.50

7.00

9.849.82

8.478.32

7.49

7.910

'"364"928

5.179




below, data through 1986 and »T .methodological notes are as shown in units


Annual

1987 1988

1988


1989


FINANCE—Continued

MONETARY STATISTICS

Currency in circulation (end of period) bil. $..

Money stock measures and components (averagesof daily figures): f

Measures (not seasonally adjusted):Ml.. . bil $M2 doM3 doL (M3 plus other liquid assets) do

Components (not seasonally adjusted):Currency doDemand deposits do....Other checkable deposits t$ doOvernight RP's and Eurodol-

lars <} doGeneral purpose and broker/dealer

money market funds do .Money market deposit accounts do....Savings deposits doSmall time deposits @ . . . doLarge time deposits @ do

Measures (seasonally adjusted):Ml doM2 doM3 doL (M3 plus other liquid assets) do

Components (seasonally adjusted):Currency doDemand deposits doOther checkable deposits rft doSavings deposits doSmall time deposits @ doLarge time deposits @ do....

PROFITS AND DIVIDENDS (QTRLY.)

Manufacturing corps. (Bureau of the Census):Net profit after taxes, all manu-

facturing mil $Food and kindred products do.Textile mill products doPaper and allied products do....Chemicals and allied products do....

Petroleum and coal products do....Stone, clay, and glass products .. doPrimary nonferrous metal do....Primary iron and steel do...Fabricated metal products do....

Machinery (except electrical) doElectrical and electronic equipment do

Transportation equipment (except motorvehicles and equipment) mil. $..

Motor vehicles and equipment do....All other manufacturing in-

dustries do ...

Dividends paid (cash), all manu-facturing do

SECURITIES ISSUED

Securities and Exchange Commission:Estimated gross proceeds, total mil. $..

By type of security:Bonds and notes, corporate do. .

Common stock doPreferred stock do

By type of issuer:Corporate, total # mil $

Manufacturing doExtractive doPublic utility do

Transportation do ....Communication do .Financial and real estate do....

State and municipal issues (Bond Buyer): §Long-term . doShort-term . do

SECURITY MARKETS

Stock Market Customer Financing

Margin credit at broker-dealers, end of yearor month mil. $..

Free credit balances at brokers, end of yearor month:

Margin-account doCash-account do

Bonds

Prices:Standard & Poor's Corporation, domestic

municipal (15 bonds) dol. per $100 bond-

Sales:New York Stock Exchange, exclusive of some

stopped sales, face value, total mil. $..

230.2

74422863 23 591 942460

1888294.32543

792

2138552.2408 186574618

'1155991 15,627

1 1,8911 5,520

1 16,5591 10,900'29111 1,0771 1,3561 4,427

1 10 203J9570

1 4,6771 10,647

1 20,234

1 49 512

275,418

191,339

6583511 735

268 909461728229

19,943

6,6987,326

151,049

105 52320271

31,990

475015640

62.7

9,726.24

2477

776030094

r3 819 0r4 532 7

2053289.02744

78 1

23225175426497925125

154 8302067115608081

r23,674

21,40924534,256

9935335

1381711 143

5,01912,474

r23 945

57075

228 387

172 499

454856*506

224 49033 3274742

12,793

3,0784031

147,030

117 Oil22602

32,740

566016595

62.0

7,701.39

7869r3 031 4r3 840 8r4 557 2

2080293.1277 7

776

22965220436097945095

782530239

r3 839 3r4 565 3

206429042785429798105140

19,282

11767

6474741

1898230251 150

2450

130711,103

11 2061 372

31,770

448514340

61.4

'574.08

782330305

r3 852 4r4 578 7

'• 207 9289.0277 2

799

23085177433798605192

782430297

r3 851 5r4 583 9

207 028992783430998835194

15,977

11 905

3 396501

158022*510

642647723

10,045

7 5915942

31,930

465514045

61.4

r656.57

2355

781 03 028 5

r3'859 1r4'587 4

2080287.4277 8

773

2310511.443099969529 1

783730350

r3 861 0r4 592 2

208628882790430599875267

T3S 6165400

3102227

r5504

5,987804

1,104693

1332

3 9922932

15662069

6082

14 525

15728

11 443

3795291

155293 917

125824

88457

8923

10 743675

32,770

472514 175

62.5

581.89

782 1r3 038 5r3 875 6r4 609 2

2090288J2769

r761

231350754309

101065354

7854r3 042 3r3 877 9r4 613 3

2097288927944292

1,009 75320

12991

9355

2886575

128162388

301 683

258132

7785

11 2001 109

33,410

506514880

63.8

596.74

788 3r3 058 0r3 903 2r4 647 1

211 3290.02799

r75 7

237450674304

1 019 5537 3

7866r3 059 4r3 898 1r4 639 4

2105287728104318

101785344

16436

12891

3 008527

164263 136

244478

64298

9454

9 0361 765

33,640

492015 185

62.6

610.58

247 7

804 4r3 077 2r3 925 2r4 689 6

2149298.82837

r78 5

239450274259

1 026 55396

7903r3 069 5r3 915 4r4 676 1

211 8288628234313

1 025 25378

r37 5474751

3771 911

r5573

6147556

1,116515642

36322762

10223272

r5271

16526

10421

7627

2088475

102211 066

1185

059

8454

11 4961 419

32,740}

566016595

62.9

640.57

793 0r3 076 1r3'927 6r4'6962

211 8290.52837

rgl g

241749524228

1 041 65453

7863r3 065 8r3 920 1r4 679 6

2134284028134278

10357r5444

(2)

(2)

(2)(2)

(2)(2)

(2)

(2)

(2)

(2)

(2)

7 1551 339

32,530

5 79015705

65.0

632.13

7723r3 056 9r3 917 3r4 688 8

211 9275.7277 6

r790

247248534187

1 05445524

7874r3 069 4r3 929 3r4'691 8

2143284828094246

10483r5516

rg 500

1306

31,480

5 60516 195

64.3

558.88

2429

775 1rg 071 gr3 945 4r4 722 7

2139275.82783

r774

r255548034184

1 065 1r5602

7863r3 078 4r3 950 6r4 726 1

2156284327914208

10610r5588

3668387

19796,882

r5,7178

1,234476

2116

26662396

1,3383,867

5644

16521

r9 6261 426

32,130

534516045

63.2

591.39

791 3r3 092 2r3 964 0r4 745 7

215 1283.22860

r745

r259.1471.3

r414010820r564 1

783 1r3 080 6r3 958 5r4 744 0

2159281 42785

r412810831r5677

rg g24

4998

32,610

545016 125

64.2

553.49

767 1r3 062 6r3 944 3r4'731 4

2166273.3270 1

r735

r258.9457.04073

10989r5698

7733r3 072 1r3 954 5r4 742 8

2164278227134047

1,105 8r572.1

rg 0g3r928

33,140

525015965

66.0

734.37

r7738r3 090 8r3?973 9r4 747 5

218 5276.4

r271 4

r760

r265.1456.9

r40661 1124

r5697

r7703r3 088 0r3 973 3r4 746 5

21742750

''270 7r4020

1,118.5r573.0

365564016

4992,0226,809

3,818779

1,219450

1,648

23932518

1,3433,469

5,573

17454

14 319r4443

34,730

690019080

68.2

878.24

r7818r3 125 1r4 004 847779

r2197'281.5r2725

r77.2

r274.6r459.8r4075

1, 124.2r568.8

7772r3 117 3r4 003.24,786.6

r2180r278.9273.2

r401.51,126.4

r573.7

rg 933

1 626

34,360

542016345

68.2

712.42

77773 137.04011.2

2194276.5273.7

74.4

285.5465.74051

1,128.5569.8

77773136040096

2185277.3274.7402.3

1,131.5569.9

7 8415222

33,940

558016015

67.3

805.75




below, data through 1986 and IT .,methodological notes are as shown in umls


Annual

1987 1988

1988


1989


FINANCE—Continued

Bonds— ContinuedYields:

Domestic corporate (Moody 's) percent..By rating: < i V ; •.

Aaa . doAa doA doBaa do

By group:Industrials do....Public utilities do....Railroads do

Domestic municipal:Bond Buyer (20 bonds) do....Standard & Poor's Corp. (15

bonds) do

U.S. Treasury bonds, taxable $ do....

StocksPrices:

Dow Jones averages (65 stocks) .Industrial (30 stocks)Public utility (15 stocks)Transportation (20 stocks)

Standard & Poor's Corporation: §Combined index (500 Stocks) 1941-43=10..

Industrial, total (400 Stocks) # do....Capital goods doConsumer goods do .

Utilities (40 Stocks) do....Transportation (20 Stocks) 1982=100...

Railroads 1941-43= 10 ..

Financial (40 Stocks) 1970=10..Money center banks 1941-43 — 10Major regional banks do ..Property-Casualty Insurance do ....

N.Y. Stock Exchange common stock indexes:Composite. 12/31/65—50

Industrial doTransportation do ....Utility doFinance . do

NASDAQ over-the-counter price indexes:Composite 2/5/71-100..

Industrial .. . doInsurance doBank do

NASDAQ/NMS composite 7/10/84=100..Industrial . . do

Yields (Standard & Poor's Corp.):Composite (500 stocks) , percent

Industrials (400 stocks) doUtilities (40 stocks) doTransportation (20 stocks) doFinancial (40 stocks) do

Preferred stocks, 10 high-grade doSales:

Total on all registered exchanges (SEC):Market value mil $Shares sold . . millions

On New York Stock Exchange:Market value mil $Shares sold (cleared or set-

New York Stock Exchange:Exclusive of odd-lot stock sales

(sales effected) millionsNASDAQ over-the-counter:

Market value mil. $..Shares sold . . . millions

Shares listed, NYSE, end of period:Market value, all listed shares bil. $ ..Number of shares listed millions..

9.91

938968999

1058

9.839.989 63

7.69

773

8.64

849462 275 99

2017092919

286.83330.902882332377

112.70228.91166.90

28.15112031095431150

161 7019531140.397430

14648

40274422724252546495172.49161 06

3082626 522203 60

837

2 284 16663771

1 983 311

53 038

47 801

498,30137 890

2,216.3171,802

10.18

971994

10241083

9.9110.451003

7.66

774

8.98

772 172 060 82

1797486383

265.79306.682528330595

108.74209.02158.73

24.0992.05

103.22271.62

1499118095134.127177

127 26

3744337949408 17444 14161.9514678

3643147 08248434

924

1 584 10652474

1 377 711

44018

40850

347,08931 070

2,457.4676,093

10.47

9 96102610 5511 11

9.9810.961006

7.76

787

9.20

785262 104 22

17871881.17

269.05310.872629330222

108.49210,37157.72

24.559737

1088527045

152 1218409136.4971 50

13000

3914040562398 5245696169.2115697

3653147 16245424

933

134 3684 521

118 972

3 819

3 338

29,0542614

2,439.6575,267

10.58

10 1110 37106311 21

10.0711.0910 10

7.76

786

9.33

767 552 051 29

1785685614

263.73303.122476930127

107.89203.10152.79

25.009785

110.97270.64

1492517972132.537067

13077

3796138538412 14457 12164.0614894

3753257 202644 129 39

128 4814 465

112 249

3 759

3327

29,5852601

2,353.7875,320

10.28

9 821006103410 90

10.0010.5610 1?

7.64

771

9.06

780412 080 06

179 8587945

267.97307.402476031368

10967209.71158.59

25.75102181128227657

151 47182 18136.277183

133 15

3821638400429 9345291165.3014848

3693 217 092553%

928

116 7684 014

100 854

3 352

3 060

26,5242348

2,440.0075,498

9.90

9 51971999

10 41

9.889.92

10 03

7.33

754

8.89

808292 144 31

1850192312

277.40319.052531932718

113.00219.89164.78

26.059961

11178280.22

1563618858141.937419

134 66

385013824943245450 81166.78148 10

3613 137 012443 96

923

138 2814 247

118 416

3 528

3 415

28,6982 522

2,489.4475,891

9.91

945972999

1048

9.939.89

10 00

7.66

758

9.07

796202 099 04

184 1291621

271.02311.842473632478

11170216.97164.74

24.859823

10734268.26

152 6718379138.607383

129 61

37289365824268244091161.60141 76

3703227 042434 16

9 36

120 3603 805

i Q3 9Q2

3 162

2823

25,0172287

2,443.4476,160

10.03

9 579 81

10 111065

10.0410.0210 06'

7.50

766

9.13

817302 148 58

18515955.39

276.51319.0725387331.12

113.02225.63171.25

24.799874

10382266.65

15535187 75144.077481

128 83

37578371 114253443645163.15144 24

368319698234426

938

117 0603922

100 228

3 222

2845

25,7612488

2,457.4676,093

10.05

9 62981

10 1010 65

10.08«. 10.02

1004

7.29

741

9.07

851 452 234 68

188881 009 31

285.41330.172628033949

114.37237.65178.57

25.519973

104.72274.49

1604019462153.097587

13226

3893238571441 9144601169.07149 98

3 643140992414 15

931

122 5244 049

102 736

3264

3 532

33,4752716

2,609.2476,603

10.05

9 64983

10 1310 61

10.0810.0210 05

7.56

747

9.16

880 522 304 30

186641,073 18

294.01339.702739035353

11688251.42187.76

26.6810423109 9128870

1650820000162.667784

137 19

4040839980461 0745887175.62155 66

3593106922 174 03

931

143 9574 675

124 800

3909

3 217

30,2272532

2,545.1176,836

10.18

9 809 98

10261067

10.1910.1610 19

7.64

761

9.33

866 992 283 11

182811 046 32

292.71337.742623135218

116.65245.69185.35

26.9610467109.29295.79

164 60199 20160.147766

137 91

40399396744694045758175.67154 51

3683187 06224407

943

148 0214 530

126 697

3694

3 503

33,4522883

2,591.6477,521

10.14

9 79994

102010 61

10.1310.1410 27

7.40

749

9.18

897322 348 91

187981,098 04

302.25348.472657136861

119.91250.63182.19

28.31113231139630782

1693820481164.327972

14326

4171340976480 3545731181.71159 95

3593106952213 90

950

136 5984 115

116 894

3356

3238

32,2322666

2,709.8877,767

9.95

957975

10001046

9.979.92

1031

7.15

725

8.95

932472 439 55

196291 139.83

313.93360.8827471386.24

127.74262.59194.13

29.10114.86121.88301.76

17530211 51168.898407

146 59

435.99431 814830446050190.1916895

352306662209385

932

157 0884722

133 978

3 887

3749

40,8703 080

2,787.4978,381

9.50

910929959

1003

9.519.49

10 17

7.02

6.97

8.40

955802 494 90

206.721,158.90

323.73370.36279.47399.70

133.50268.10198.07

30.85122.57129.20316.61

1807621675173.4787.90

15409

447.614378450378475.70195.38171 32

3.443.01635204364

8.96

178 0884 967

153 329

4092

3,967

41,5723029

2,771.4979,117

9.34

8.939.149.42987

9.349.34

1005

6.86

6.97

8.19

990.602,554.03

215.521,223.05

331.93379.45282.04411.63

137.22276.07197.89

31.70122.12132.01321.65

185 1422174179.3290.40

15778

446.704340351343472.14195.0416985

8.81

3,250

33,6802,502

2,980.4679,462

9.36

8.969.149.45988

9.359.37(i)

7.16

7.08

8.26

1,065.832,691.11

218.081,407.13

346.61396.63296.33434.05

140.47307.44211.31

33.16127.09136.60344.12

1929323132197.5292.90

16486

461.8344847535.62484.22201.8617563

8.75

3,948

39,5753,031

3,022.1979,534

FOREIGN TRADE OF THE UNITED STATES

VALUE OF EXPORTSExports (mdse.), incl. reexports,

total @ .. mil $Seasonally adjusted t do. .

Western Europe * dcEuropean Economic Community * do....

Belgium and Luxembourg * do....France doFederal Republic of Germany do....Italy do....Netherlands * doUnited Kingdom do....

Eastern Europe * do....Union of Soviet Socialist Re-

publics do

254 121 9

69 717 760,575.06,189.47943 2

11,747.75,529.78 216 7

14,113.9

2,199.5

1 479 8

322 426 4

87 994 975,926.07,405.0

10 085 514,331.36,781.9

10 094 518,403.5

3,650.0

2767 6

25 186 426,612 9

647575,630.5

586.9721 4

1,028.6474.87626

1,360.9122.9

632

26 539 027 477 9

6706 25,740,2

574.57503

1,035.7519.27141

1,457.5

187.7

127 5

27 066 627 578 1

7 216 16,332.2

630.8897 8

1,178.5551.8849 1

1,507.8

195.7

1159

28 544 127?8890

7752 16,795.6

686.08754

1,284.3630.58979

1,698.6

266.9

2150

27 565 227 538 0

7 24466,301.4

626.78987

1,123.6536.5911 7

1,511.5

314.7

2638

28 982 128 863.8

830287,068.6

648.99000

1,305.5648.9

1 024 51,642.9

369.0

275 6

27 294 628 980 1

7 33076J417.6

660.9927 8

1,185.7578.18392

1,406.3

459.0

373 9

27 963 528 839 1

7 68876,801.2

616.98465

1,415.1574.58484

1,602.3

523.5

461 9

33 130 g30 064 59 60648,223.3

761.81 051 01,529.2

680.01 123 22,137.9

706.9

623 0

31 367 230 759 18 620 97,372.8

759.8987 7

1,373.1628.5918 1

1,848.7

628.4

4598

31 271 130 455 2

8 589 07,322.3

834.01 015 41,555.3

598.29468

1,629.0

576.8

442 0

r31 536 9r31 285 8

831477,216.5

721.59584

1,447.5658.89654

1,643.9

478.4

4050

28 979 830*735 6

7 961 76,878.3

654.49367

1,169.7569.98014

2,093.6

288.0

2288

See footnotes at end of tab!



below, data through 1986 and n .fmethodological notes are as shown in


Annual

1987 1988

1988


1989


FOREIGN TRADE OF THE UNITED STATES—Continued

VALUE OF EXPORTS-Continued

Exports (mdse.), incl. reexports— Continued

Western Hemisphere:Canada {> . mil $Brazil doMexico doVenezuela do

Asia:China * doHong Kong * do....Japan do..Republic of Korea * do....Saudi Arabia * do....Singapore * doTaiwan * do

Africa:Nigeria * doRepublic of South Africa do....

Australia * do

OPEC * do

Exports of U.S. merchandise, total @ do....

By commodity groups and principalcommodities:

Agricultural products total doNonagricultural products, total do ....Food and live animals # mil $Beverages and tobacco .. . . doCrude materials, inedible, exc.

fuels # doMineral fuels, lubricants, etc. # do....Oils and fats, animal and vege-

table do

Chemicals doManufactured goods classified chiefly

by material mil. $..Miscellaneous manufactured

articles * . doMachinery and transport equipment,

total . mil $Machinery, total # do....Transport equipment, total do ....

Motor vehicles and parts do....

VALUE OF IMPORTS

General imports, total @ doSeasonally adjusted t • • • do

Western Europe * doEuropean Economic Community * do....

Belgium and Luxembourg * do....France doFederal Republic of Germany do .Italy doNetherlands * do....United Kingdom do

Eastern Europe * doUnion of Soviet Socialist Re-

publics do

Western Hemisphere:Canada mil $Brazil doMexico .. doVenezuela do ....

Asia:China * ... ~ doHong Kong * . doJapan doRepublic of Korea * doSaudi Arabia * doSingapore * doTaiwan * do

Africa:Nigeria * do ..Republic of South Africa do ....

Australia * do....

OPEC * . do

By commodity groups and principalcommodities:

Petroleum and products * mil. $..Nonpetroleum products * do....

Food and live animals # do ....Beverages and tobacco do....Crude materials, inedible, exc.

fuels # do

Mineral fuels, lubricants, etc do....Oils and fats, animal and vege-

table do .Chemicals do....

Manufactured goods classified chieflyby material mil. $..

Miscellaneous manufacturedarticles * . . . . . do

Machinery and transportequipment doMachinery total # doTransport equipment do....

Motor vehicles and parts do....

59,814.34,039.9

14,582.23,586.0

3,497.33,983.1

28,248.68,098.73,373.44,052.77,412.7

295.11,281.2

5,494.8

11,058.1

245,115.0

28,636.2215,222.719,178.83,666.7

20,416.37,713.1

981.4

26,380.9

17,136.1

19,409.0

108,596.069,637.038,959.020,878.8

406,241.0

95,496.181,188.04,170.9

10,730.227,069.311,039.63,963.6

17,341.3

1,922.6

424.7

71,085.07,865.4

20,270.85,579.0

6,293.59,854.1

84,575.016,986.94,433.16,201.0

24,621.8

3,573.41,345.5

3,007.2

23,953.1

42,285.4363,615.2

20,547.14,104.9

11,525.7

44,219.5

568.116,213.4

53,356.3

65,183.1

177,808.799,432.978,375.870,763.8

70,861.94,289.2

20,643.44,610.8

5,038.85,690.8

37,732.111,289.53,799.25,770.0

12,130.8

356.21,690.3

6,980.7

14,023.8

309,441.2

37,015.2270,998.326,414.74,548.3

25,135.08,185.8

1,453.7

32,299.6

22,844.8

24,513.9

135,134.888,432.046,702.825,178.0

440,952.3

100,515.484,991.04,517.5

12,216.626,502.811,610.94,587.1

18,041.7

2,157.6

578.0

81,496.39,323.8

23,276.95,228.1

8,512.210,242.889,802.120,189.15,593.77,995.7

24,803.7

3,298.31,529.6

3,531.1

23,065.7

38,854.2402,086.1

20,106.64,139.0

13,397.5

41,087.8

849.019,875.6

61,636.0

70,465.3

197,053.3117,281.079,772.471,347.0

4,717.4387.9

1,645.3403.9

486.2612.6

3,2^8.7-911.1275.9441,4

1,021.1

22.4139.0

570.0

1,135.0

24,161.5

2,622.721,491.72,295.6

361.9

1,842.5659.8

121.8

2,616.8

1,746.9

1,976.4

10,112.26,952.33,159.91,463.2

35,397.335,073.5

8,378.87,017.1

379.21,056.12,067.11,089.9

399.81,401.2

144.9

24.9

5,790.6743.2

1,699.9405.8

763.5924.5

7,405.51,731.2

492.3660.4

2,079.0

301.9132.7248.1

1,895.8

3,175.032,407.5

1,519.1322.2

1,070.1

3,338.8

64.81,540.0

5,138.8

6,320.8

15,211.49,526.65,684.85,012.6

5,905.2334.3

1,859.8408.4

449.0493.8

- 3,267.21,155.0

287.6590.2865.5

37.9164.9

640.3

1,157.6

25,547.4

2,876.422,720.52,384.0

343.6

1,984.8727.2

85.9

2,805.4

1,981.4

2,150.1

11,136.87,430.23,706.61,817.0

37,545.437,622.7

7,733.46,675.1

258.9922.0

1,942.61,058.6

393.C1,449.0

188.9

54.5

6,301.0934.0

2,025.8497.2

812.91,009.87,736.01,946.7

502.3752.0

2,411.8

279.4136.6

302.12,132.2

3,440.634,267.6

1,752.3353.2

1,186.8

3,608.0

98.41,747.1

5,344.9

6,773.0

15,719.910,010.15,709.85,175.6

6,162.9330.8

1,935.6469.4

419.6534.7

3,244.5961.9377.5496.4898.3

38.9152.5

584.9

1,343.0

26,132.2

3,179.523,157.02,554.1

377.0

1,922.3711.4

158.2

3,119.1

2,180.6

2,123.2

11,275.47,567.13,708.22,275.1

36,303.636,750.4

7,749.56,511.4

360.5943.6

2,132.4717.2384.9

1,381.0

148.9

38.9

7,017.4857.0

1,951.6437.7

792.4959.1

7,073.41,854.0

361.7679.1

2,194.0

254.2121.0244.7

1,861.4

3,065.933,388.3

1,548.0361.9

1,110.8

3,203.6

81.81,541.9

5,116.6

6,147.9

16,250.09,904.86,345.25,655.0

6,437.0314.4

2,043.6411.8

402.6523.7

3,206.1947.6314.7505.4811.3

32.4142.5

788.8

1,239.8

27,548.9

3,302.024,098.92,487.8

374.3

1,993.0656.3

125.7

2,622.6

1,938.5

2,142.4

12,011.77,923.64,088.02,148.1

38,795.237,121.1

8,521.87,038.5

394.7990.7

2,124.8978.1410.8

1,509.1

136.0

34.8

7,332.6779.8

1,989.5403.1

831.8995.0

8,417.21,695.0

433.8736.6

2,072.5

264.6152.9266.2

1,838.4

2,916.035,768.9

1,603.3444.7

1,170.7

3,057.0

89.21,695.5

5,354.6

6,408.6

17,765.810,571.47,194.56,556.0

6,328.7334.4

1,955.2409.5

432.7438.0

3,199.6864.3336.5519.4820.0

28.9171.5

628.6

1,221.8

26,839.8

3,350.023,108.32,326.3

417.0

2,154.5653.8

106.6

2,534.3

1,928.3

2,022.8

11,513.47,473.04,040.42,297.8

38,389.338,087.3

8,862.37,422.7

383.4973.5

2,302.01,023.9

421.11,638.7

177.5

65.3

7,145.6740.4

2,049.4375.7

793.4930.0

8,186.71,664.6

361.6687.4

1,943.4

179.0136.9311.8

1,664.2

2,904.935,370.0

1,648.6412.1

1,142.5

3,101.3

94.51,630.0

5,445.4

6,055.4

17,549.010,370.87,178.36,486.4

5,517.8408.0

1,940.9472.5

556.3527.6

3,383.71,183.0

335.4565.4940.0

27.0134.4

826.5

1,367.6

27,614.8

3,624.324,401.92,432.8

434.7

2,506.3863.9

102.0

2,829.7

2,237.0

2,284.8

12,468.98,381.44,087.52,084.8

39,383.939,668.4

9,508.08,051.9

363.71,104.32,641.81,032.5

412.71,747.6

225.7

97.6

6,503.0743.9

1,932.9430.3

803.9905.6

8,456.01,945.6

568.1774.5

2,104.8

270.6123.0268.9

1,987.8

3,314.935,414.1

1,695.5350.6

1,076.1

3,582.5

83.61,669.5

4,826.9

5,919.4

18,345.810,807.47,538.46,751.5

6,086.0386.1

1,843.5384.0

385.9379.3

2,939.2932.5342.5453.6705.5

34.3112.7

551.9

1,164.5

26,320.5

3,357.022,058.6

2,240.0383.9

2,083.6678.2

99.6

2,561.0

1,769.6

1 2,172.2

10,102.1

2 1,744.0

36,032.137,877.3

7,284.26,071.8

307.3927.4

1,902.1763.2356.0

1,211.7

203.3

73.8

7,891.3672.7

1,977.9519.5

787.7810.7

6,472.61,613.0

562.6619.7

1,831.3

359.3121.5

296.3

2,233.9

3,558.032,339.2

1,924.0301.2

1,325.0

3,816.0

44.71,819.6

5,275.5

5,409.0

14,969.5

2 5,472.5

6,484.8334.8

2,052.1368.2

499.2494.2

3,292.1998.9294.5507.5833.9

43.5105.7

608.8

1,154.0

26,881.7

3,469.723,641.32,413.1

469.6

2,272.1673.0

115.0

2,860.9

2,106.4

2,423.3

11,231.6

2,049.2

36,687.138,220.3

8,313.16,772.5

379.31,053.31,958.3

826.1401.2

1,520.2

159.6

42.4

7,295.8731.2

2,141.5404.5

823.3695.7

7,942.11,488.5

563.4598.3

1,822.7

313.3145.5271.6

1,997.6

3,281.334,278.9

1,771.6324.5

1,207.1

3,567.3

62.21,723.2

5,078.4

5,616.5

17,077.4

6,218.4

7,248.8333.4

2,175.2287.7

581.8589.0

4,167.51,186.4

334.7795.6919.0

31.7175.9

689.2

1,124.5

31,688.5

4,040.228,126.32,918.2

491.4

2,621.4783.0

127.8

3,231.2

2,595.8

2,965.9

13,788.9

2,260.2

40,146.839,549.0

9,209.77,721.1

436.41,128.02,334.51,142.9

439.31,586.4

204.2

80.9

7,636.2674.7

2,278.8546.4

668.6622.5

8,390.81,613.3

512.5709.7

1,708.9

323.2123.6

307.8

2,216.4

3,737.736,174.3

1,792.4358.5

1,405.7

4,024.4

69.01,923.2

5,294.4

5,675.0

18,288.0

6,510.0

7,006.6348.0

2,058.8247.9

404.4602.0

3,636.91,009.0

302.6557.3

1,023.3

19.4157.5

616.9

1,103.8

30,224.8

3,421.126,435.72,497.1

398.7

2,262.3813.9

105.7

3,328.0

2,266.1

2,650.5

12,839.1

2,143.3

38,185.139,044.7

8,389.46,935.3

404.11,162.02,091.6

925.3346.9

1,397.8

153.3

64.4

7,483.2713.4

2,377.0553.5

727.7634.9

7,530.21,553.6

623.7686.6

1,863.7

404.7129.0

309.4

2,458.0

4,135.834,088.0

1,689.4321.1

1,283.5

4,392.2

38.31,704.2

5,130.3

5,375.6

17,195.9

6,031.9

7,417.6304.9

2,091.7222.4

471.0519.4

3,602.91,158.2

290.5566.8

1,004.9

40.7138.2

681.5

1,101.4

30,109.9

3,314.126,818.42,579.4

433.0

2,233.5871.0

105.1

3,406.5

2,354.2

2,672.3

12,533.6

2,124.2

40,895.740,534.3

8,667.37,212.9

394.11,034.72,086.1

979.8370.9

1,681.6

144.7

40.6

8,138.8627.1

2,543.7632.1

932.6743.3

7,884.21,661.2

587.6780.0

2,092.0

523.4140.2

326.7

2,900.6

4,806.636,267.6

1,810.5371.1

1,373.7

5,104.1

62.41,738.0

5,365.2

6,081.4

18,021.1

6,i23.8

r6,958.0434.5

2,154.3223.9

355.2659.6

3,966.41,302.5

275.4606.5940.0

33.1149.4

690.7

974.5r30,289.3

3,048.826,862.62,396.5

434.7

2,218.5831.1

9S.2

3,364.9

2,372.7

3,045.1

12,797.5

2,038.4

r40,494.1r39,292.8

8,539.37,172.0

397.81,300.01,980.61,053.3

377.21,378.7

190.2

81.9

7,506.6829.5

2,253.2542.6

1,016.6808.1

7,906.51,699.0

630.7692.0

2,131.2

490.6136.1332.0

2,640.4

4,265.036,015.5

1,657.1335.3

1,284.8

4,542.9

80.11,776.2

5,270.2

6,626.7

17,518.2

5,801.1

5,169.6395.5

2,042.1215.6

644.7501.1

3,942.31,241.5

243.1666.8924.2

112.8124.4

714.7

1,088.0

27,894.3

2,966.224,928.12,533.6

384.0

2,178.5717.6

109.0

3,111.4

2,158.1

2,671.9

11,810.7

1,403.5

39,055.038,316.9

8,811.57,466.5

420.11,111.72,155.11,180.2

406.11,514.7

186.0

63.5

5,619.1759:1

2,160.0526.7

1,154.9875.9

7,985.41,748.7

584.5729.2

2,182.0

653.0111.6

340.5

2,789.4

4,332.234,722.8

1,612.6327.1

1,180.8

4,603.1

59.31,656.8

5,171.6

7,157.9

16,233.1

5,029.5

:::::::::::::::




below, data through 1986 and „ ..methodological notes are as shown in umis


Annual

1987 1988

1988


1989


FOREIGN TRADE OF THE UNITED STATES—Continued

IndexesExports (U.S. mdse., excl. military grant-aid):

Unit value @ 1977=100 ..Quantity ' doValue do

General imports:Unit value @ doQuantity doValue do

Shipping Weight and ValueWaterborne trade:

Exports (incl. reexports):Shipping weight thous. met tonsValue.. . mil $

General imports:Shipping weight thous. met. tons..Value mil. $..

158.6127.0201.4

164.6169.2278.5

324,12599,011

427,913245,030

169.6149.8254.1

172.9175.1302.7

361,222125,775

465,082254,753

173.7136.7237.4

177.1165.4293.0

28,40810,178

37,81121,247

174.6145.9254.6

174.0178.5310.5

29,34210,422

40,85122,468

176.9148.6262.9

172.5174.0300.2

31,56511,497

38,94820,519

175.8149.8263.4

171.8185.4318.6

29,02410,555

40,42622,041

175.8145.1255.0

172.3183.0315.2

29,23010,690

39,85621,453

176.3159.0280.4

174.4182.9318.9

34,26611,995

43,50123,213

174.0144.6251.7

176.2168.4296.7

29,11710,672

38,36419,959

172.5155.7268.5

177.5174.2309.3

175.5181.5318.6

179.7182.8328.7

174.6169.4295.7

181.5173.4314.8

175.6169.9298.4

182.3185.6338.2

176.6167.7296.2

181.5182.8331.7

TRANSPORTATION AND COMMUNICATION

TRANSPORTATION

Air CarriersCertificated route carriers:

Passenger-miles (revenue) i bilPassenger-load factor percent

Ton-miles (revenue) total milOperating revenues (quarterly) # § mil $

Passenger revenues. doCargo revenues . doMail revenues : do

Operating expenses (quarterly) § do....Net income after taxes (quarterly) § do

Domestic operations:Passenger-miles (revenue) bilCargo ton-miles milMail ton-miles doOperating revenues (quarterly) § ... mil $Operating expenses (quarterly) § .. .do .Net income after taxes (quarterly) § do....

International operations:Passenger-miles (revenue) . . bilCargo ton-miles milMail ton-miles , doOperating revenues (quarterly) § mil. $ ..Operating expenses (quarterly) § . doNet income after taxes (quarterly) § do

Urban Transit SystemsPassengers carried, total .. mil

Motor CarriersCarriers of property, large, class I, qtrly.r

Number of reporting carriersOperating revenues, total mil. $..Net income, after extraordinary and prior

period charges and credits mil $Tonnage hauled (revenue), common and

contract carrier service mil tonsFreight carried — volume indexes, class I and II

intercity truck tonnage (ATA):Common carriers of general freight,

seas adj 1967 — 100

Class I Railroads $Financial operations, quarterly (AAR),

excluding Amtrak:Operating revenues, total # mil. $..

Freight do .. ,Passenger, excl. Amtrak do

Operating expenses . . doNet railway operating income doOrdinary income "j* do

Traffic:Revenue ton-miles, qtrly (AAR) . . bilPrice index for railroad freight 12/84=100 ..

TravelLodging industry:

Restaurant sales index.. ..same month 1967 — 100.,Hotels: Average room sale Q dollars

Rooms occupied % of total.,Motor hotels: Average room sale £> dollars .

Rooms occupied % of total.Economy hotels: Average room

sale ^ dollarsRooms occupied % of total

Foreign travel:U.S. citizens: Arrivals (quarterly) thous .

Departures (quarterly) doAliens: Arrivals (quarterly) do..

Departures (quarterly) do...Passports issued do

National parks, recreation visits ## do...

40447623

504691 56 78744918'6434

9241 54,339

465

3246943401 313

1 45 6581 43 925

'66

7983'3921

44310,92510226

'307

'8766

100' 18,398

'297

'181

1638

26,62325798

9523 88117521 989

9437100.1

2238258

684779

62

328764

'17,005' 16 425'11639' 10,239

487255782

42330625

53800' 63 633'50296'7478

'972'60,136'1 785

3293148431 367

' 50 052'47562'1027

93994789

4701 13,3321 12 361

'720

'8867

100' 18,668

'464

'170

1772

'27,979'27,135

85' 24 883'1961'2319

9962104.8

23685 12

664588

64

406265

' 17,583' 17 209' 13 804'12,211

4 06155,422

4088682

5058

3050407103

10 3842436

695

1727

105.2

2597658

685156

75

504480

33510359

4300709

5261

3221416105

108040336

753

1786

105.4

2188049

724661

74

361878

3399871

3382603

436416 98513 5791885

22015,4831 077

2522417106

1289811972

621

86042335

40243456

435

740

1004998

179

45

1785

6,9846767

225879

691740

2495105.4

22283 65

664301

64

343065

5,286502144163,951

2636277

3545619

4 605

27 32437111

8 1247339

772

1783

105.4

2588971

724425

66

334265

2354737

3253598

4295

2585426113

6 6745746

750

178 1

105.4

22288 54

664362

56

333256

233

2241

3348583

441316030124742017

26915,495

240

2622413169

1274412243

162

7 2642361

3 2333 201

77

727

1004964

127

45

1783

7,1076886

216281

490715

2544105.4

2418540

524333

48

350349

3,82939433?2472939

2231 304

32 18562

4099

2485363112

7 3337136

734

177 6

105.8

1928878

5844 17

54

353153

2 1,53821 2272 1 0462 1042

2831 516

2937569

3834

2328368107

59938935

691

1692

105.9

22491 84

6848 15

66

39 1566

21 16621 118

29132 801323

1 441

3603650

4 67016385127682 199'236

16,075189

2845431125

13 16012761

12

7 5847041

3,2103 296

176

797

1004,715

80

41

1667

6,9966,779

226265

443507

249 2105.9

2528943

7049 22

72

393265

21 44921 38521 174

2 962424

2323

33 57620

4373

26 10411114

74845139

1722

106.0

24089 88

7247 80

69

390567

3753 092

3538625

4535

2694418110

84443238

1727

106.1

416r5056

1726

2536106.4

396r7658

P157 9

2861106.6

30010146

2779107.1

289




below, data through 1986 and I7 .,methodological notes are as shown in Lnits


Annual

1987 1988

1988


1989


TRANSPORTATION AND COMMUNICATION—Continued

COMMUNICATION

Telephone carriers: 0Operating revenues # . mil $

Station revenues . doTolls, message do

Operating expenses (excluding taxes) do....Net operating income (after taxes) doAccess lines mil ..

74657316699 171

50*38413 370

t ,

CHEMICALS AND ALLIED PRODUCTS

CHEMICALS

Inorganic ChemicalsProduction:

Aluminum sulfate, commercial (17% A12O3) $thous sh tons

Chlorine gas (100% C12) $ doHydrochloric acid (100% HC1) $ doPhosphorus, elemental $ do

Sodium hydroxide (100% NaOH) $ doSodium silicate anhydrous $ doSodium sulfate (100% Na2S04) i doSodium tripolyphosphate

(100% NasPsOio) $ doTitanium dioxide (composite and

pure) $ do

Sulfur, native (Frasch) and recovered:Production thous met tonsStocks (producers') end of period do

Inorganic Fertilizer Materials

Production:Ammonia, synthetic anhydrous $

thous sh tonsAmmonium nitrate, original so-

lution $ doAmmonium sulfate $ doNitric acid (100% HNOs) $ do

Nitrogen solutions (100% N) $. .. doPhosphoric acid (100% P2O5) £ .doSulfuric acid (100% HzSO-t) $ do

Superphosphate and other phosphaticfertilizers (gross weight):

Production. thous sh tonsStocks, end of period do

Potash, sales (K2O) . . . do

Imports:Ammonium nitrate thous. met. tons-Ammonium sulfate . . doPotassium chloride doSodium nitrate do

Industrial Gases f

Production:Acetylene . mil cu ftHydrogen (high and low purity) .. doNitrogen (high and low purity) doOxygen (high and low purity) do

Organic Chemicals §

Production:Acetylsalicylic acid (aspirin) thous. met. tons..Ethyl acetate doFormaldehyde (37% HCHO) do....

Glycerin, refined, all grades mil IbMethanol, synthetic thous met tonsPhthalic anhydride . do

ALCOHOLEthyl alcohol and spirits:

Production . mil tax galStocks, end of period do

Denatured alcohol:Production ... . mil wine galConsumption (withdrawals) do

For fuel use doStocks, end of period .. .. do

1 26411 0192869

34411 486

952813

586

968

J9 3632316

16095

6,5472 1897*225

23851068539 235

15674704

6 204

279259

661393

5284149 217675 843402 644

'109'97 1

1 2,600.5

2764;3 418 2

4696

7303434

442546082083

97

1 27411 3292 568

35211 983

748789

551

1026

*9 4501 112

16937

718623377 887

31191172942775

16858879

5703

267337

6796131

4948143 819719 371448 695

2 10 4J123 5

1 3,052.6

281 773 3302

5177

777 1397

462 1r46882157

92

I

11092218128

8726560

39

85

7691 536

1 443

574188631246958

3 510

1 339726280

1729

303g

3541238962 21037*856

255

65940 5

33435417 87 4

121951232

279997168

41

84

8051 490

1 388

565190630251971

3 549

1 436728467

1614

51215

37811 73860 75438 156

208

628386

38 538617 3109

10896023229

1 0337667

36

88

7621 368

1289

515188570240945

3 441

1 378570347

1424

46215

46711 07758 90136 676

2239 6

756.7

21 9818 51336

61 228 4

36238719087

9698720529

1 0387063

51

78

8361 324

1 346

587213627272

10043 673

1 588602438

1613

5435

48811 02260*56637 603

24 8

697359

36 138 518 27 5

9896622129

1 0226665

47

86

8161 210

1 400

621207654278961

3 675

1 515749447

1640

586(2)

44611 84958 60738 022

260

69736 3

38236918 17 4

105(3)

23330

(3)

(3)

65

45

91

9311 112

1 520

658210708304

10663 922

1 604879548

4432

558g

48411 20961 38239 353

2032 5

786.3

19 495041324

67 839 7

42239717 29 2

91974227

301 039

6471

49

93

9351 101

1529

687201726263

10073790

1 592860579

4 404 23

4710411

4441049861 07138 522

277

822450

38 137 817 09 1

89946222

269978864

46

92

7941 122

1 342

612188660243936

3496

1 400989344

466

39614

4251095557 53936 668

209

69 8481

38938013388

10995523831

1 0286868

49

87

9251 159

1 494

675199715258

1,0453821

1 640970401

3753

54114

48011 55463 16339735

5 2.45340

r5731.0

249575215 1300

689462

4344211289 2

97972221

291 023

7466

46

96

9021 252

1471

673207701261966

3659

1640913731

4648

65911

45011 14561 00537721

240

68643.4

34536.314476

10293024931

9887167

55

92

9081 310

1505

684206714269

. 9653 687

1594874637

3830

42721

34711,214r62 200r40'l90

285

79345.7

47745817 193

107910243

329727168

50

93

r8911 387

1433

628r200r666

245r869

r3291

13661,011

238

4614

26122

38112,3675875839158

2.431.8

740.6r220901.6130.3

8861 491

1,380

600198641247927

3455

1455962256

219

892

23.3




below, data through 1986 and 1T ..methodological notes are as shown in Units


Annual

1987 1988

1988


1989


CHEMICALS AND ALLIED PRODUCTS—Continued

PLASTICS AND RESIN MATERIALSProduction:

Phenolic resins thous. met. tons ..Polyethylene and copolymers.. . -doPolypropylene :-• ;-• • • • doPolystyrene and copolymers doPolyvinyl chloride and copolynVers do ..

PAINTS, VARNISH, AND LACQtJER tTotal shipments mil $

Architectural coatings doProduct coatings (OEM). doSpecial purpose coatings do ....

2 769.811 881 01 3 164 8237570'37820

10 058 44'215'83*858 81,983.8

1 8 320 5J3 140 2

1 4 065 3

11 073 64384 14457 22,232.3

937 5401 4334 2202.0

1 0000'427 6367 5205.0

2006 0840 6

1 0542

963 338303837196.7

940 235583984186.0

850 2301 43782170.7

2 156 17648

1 0585

779 42820345-2152.2

851 3

tO 3803.0

8736318 53942160.9

r42 1682r47597

4 1 093 2

98533884405 1191.8

1 018 4400 2408 8209.4

1 10624657419 1221.4

190397898

1,031 5

1 12594660431 4228.5

ELECTRIC POWER AND GAS

ELECTRIC POWERProduction:

Electric utilities, total. . mil kw -hrBy fuels doBy waterpower do

Sales to ultimate customers, total (EdisonElectric Institute) {>.. •• mil kw -hr

Commercial § do ....Industrial § do

Railways and railroads doResidential or domestic . do

Street and highway lighting doOther public authorities do.Interdepartmental do

Revenue from sales to ultimate customers(Edison Electric Institute) 0 mil $

GASOTotal utility gas, quarterly

(American Gas Association):Customers, end of period, total @ thous..

Residential.. . . doCommercial do ....Industrial @ doOther do

Sales to customers, total tril BtuResidential doCommercial doIndustrial doElectric generation doOther do

Revenue from sales to custom-ers, total mil $

Residential do...,Commercial do ....Industrial doElectric generation doOther do ...

2 572 1272 322 432

249 695

2 431 192656,708842 680

4878845*069

14542628194495

155 523

51,802

47 5793,990

17954

10543

4 3852 15625411306

155

45492

23,62210,2717 5003569

530

2 701 6242 478 686

222 938

2 545 621695,139877 752

5098883 210

14744654914 187

162 268

53,096

487564,108

17954

106914747230622511229

158

1 46 3621 25 15810,7831 6 7393 141

541

257 235240 331

16904

267 408250 961

16447

220 023203 753

16270

705 136197,196228 555

1 274256 101

3570173271 113

47539

52,093

47 8713992

17753

1628

37326047150222

6307

248911851 2841 291

58

210 377195 26515 112

209 394190 92818466

232 550212 637

19 913

613 302167,135220 144

1 299203 249

3930163521 194

38 564

53,096

487564108

17954

2855

1 353639581235

47

12858

727830141793

608166

231 343211 37819965

219 066200 447

18 620

226 436203 794

22642

648 311169,383217 772

1 358238 476

375816573

990

40087

53,552

49 1094210

17755

4002

2 15296162220958

18564

1123046591 938

499239

207 749183 67424075

219 803191 77128033

FOOD AND KINDRED PRODUCTS; TOBACCO

ALCOHOLIC BEVERAGESBeer:

Production mil bblTaxable withdrawals doStocks, end of period do

Distilled spirits (total):Production mil tax galConsumption, apparent, for beverage

purposes f mil wine galStocks, end of period mil. tax galImports mil. proof liters..

Whisky:Production mil tax galStocks, end of period do .Imports mil. proof liters..

Wines and distilling materials:Effervescent wines:

Production . . . mil wine galTaxable withdrawals do....Stocks, end of period do....Imports mil liters

Still wines:Production mil wine galTaxable withdrawals doStocks, end of period do ....Imports mil. liters .,

Distilling materials produced atwineries mil wine gal .

19542177851294

76 51

388224550040460

383339372268.50

27 89300414.995250

44283451 80602.9731200

14590

197 691780613 23

9437r378 204209236320

47 9136456231.90

30722924186549 30

r470 80r44503586.7725740

13176

18 1716411488

570

2809435392450

300377 28

14.00

271170

18453 30

6723898

387.522090

196

177216221432

5 14

29 44431 542950

28237378

19.20

266175

19004 10

26 503640

371.932020

1009

154514 1213 68

982

3008427 33

33 50

3 91369 90

21.20

304348

1827400

192 533309

569.321980

4053

15 6114 0914 15

1296

31 28426384450

561367 4030.80

3 65387

17957 50

117 013246

548.272700

3288

1402132113 47

975r3868423 984210

604364 88

27.60

302469

1548800

53303433

587.322650

895

1332122313 23

8 13r4496420 92

26 50

5 56364 56

16.50

2 623 54

18 65490

45 0334 35

586.7719 60

7 01

158814091338

9 17

2503389 373 24 14

621333 10315.61

2 771 21

165331 91

10 342975

579303 14 98

4 oi

152913 201384

941r2648423942823

67536747

17.15

2 021 25

17282 10

5 632940

5449313 55

3 23

17 57154114 24

11 42

29 88427 123889

9 13371 45

14.45

2 141 33

1832274

4 123246

5384321 02

4 95

173014 881499

9 88

2839429092666

8 1237397

15.80

2 20127

17662 38

47333 97

536811988

4 58

18.4016781472

970

30 584330449.88

7 9737597

19.35

1 76208

17853 27

5 133588

5356921 48

493

18.75169414.35

38.43

14.46

233210

18072 50

63641 54

5338618 68

5 56

37.99

13.36

243

1803




below, data through 1986 and 1T .,methodological notes are as shown in Lnits


Annual

1987 1988

1988


1989


FOOD AND KINDRED PRODUCTS; TOBACCO—Continued

DAIRY PRODUCTSButter:

Production (factory) mil IbStocks, c'dld storage end of period doProducer Price Index . 1982 — 100

Cheese:Production (factory) total mil Ib

American, whole milk do

Stocks, col'd storage, end of period. . . doAmerican, whole milk do

Imports... .'. thous met tonsPrice, wholtisal'e, cheddar, single daisies

(Chicago) $ per Ib

Condensed arid evaporated milk:Production, case goods mil. Ib..Stocks, manufacturers', case goods, end of

period do.

Exports thous met tons

Fluid milk:Production on farms t mil. Ib..Utilization in manufactured dairy

products doPrice, wholesale, U.S. average $ per 100 Ib ..

Dry milk:Production:

Dry whole milk mil IbNonfat dry milk (human food) . . do

Stocks, manufacturers', end of period:Dry whole milk doNonfat dry milk (human food) do

Exports, whole and nonfat(human food) . thous met tons

Price, manufacturers' average selling, nonfatdry milk (human food) $ per Ib

GRAIN AND GRAIN PRODUCTSExports (barley, corn, oats, rye,

wheat) mil bu

Barley:Production (crop estimate) mil. met. tonsStocks (domestic) end of period total do

On farms . doOfffarmsi do

Exports, including malt § thous. met. tons..Producer Price Index, No. 2 feed,

Minneapolis 1982=100 ..

Corn:Production (crop estimate, grain

only) mil. met. tons ..Stocks (domestic), end of period, total do.

On farms do....Off farms do .

Exports, including meal and flour doProducer Price Index, No. 2, Chi-

cago 1982=100..

Oats:Production (crop estimate) mil. met tonsStocks (domestic), end of period,

total do....On farms doOff farms do .

Exports, including oatmeal . metric tonsProducer Price Index, No. 2, Minneapolis

1982=100..Rice:

Production (crop estimate) mil. met. tons..

Southern States mills (Ark., La., Tenn., Tex.):Receipts, rough, from producers mil. Ib..Shipments from mills, milled

rice doStocks, domestic, rough and cleaned (cleaned

basis), end of period mil. IbExports .. thous met tonsProducer Price Index, medium grain,

milled 1982—100Rye:

Production (crop estimate) mil. met. tonsProducer Price Index, No. 2,

Minneapolis 1982-100Wheat:

Production (crop estimate), totalmil. met. tons

Spring wheat.... ... doWinter wheat do

Distribution, quarterly @ do

Stocks (domestic) end of period, total . doOn farms doOff farms do

Exports, total, including flour.. doWheat only . mil bu

1 104 1143 2953

5344227167

457 13674120 2

(9)

579.7

318

24

121,294

8472012.53

14591 0568

8065 1

1759

793

29204

2 11 529• 67 307

64222630853,114.5

J085.7

2 179.447 248 207 154.95

793254081

67.7

2 5 429

6 1.92661 499

e 427

30 213

">92.5

2 5 879

9,533

7 791

26892380

83 3

2 500

547

2 57 372 14 752 42 596270

7 68 0672629741 77

31 791 1067

1 207 52147sgo 8

5 571 62756 6

388 12834114 6

588.7

44 1

3 5

123,896

8507212.22

17239785

12 845 1

153 1

773

3 448 3

2 6 3257 8 1097 3 9807 4 129

2,244.4

8 110.4

2 125.007 179 637 108.72

770904632

897.1

23 175

6 1.62661 116

6 510

29 989

8 135.4

27237

8,985

6 722

20112 199

8112 6

2 3808691

249292681

2 42 48"71 39

74654716717 29 834133

14692

76 3295892 1

4549232 5

496 13884108

50.2

10353

10,514

7 06711.40

158801

11 4713

148

753

2502

255.8

122.8

3 11

115.5

1 818

159.8

163

428

1 283169

114 9

821

3151100

74 12944926

44202088

4608351 1

11 0

49.5

10532

10,282

689011.80

140681

11 4533

158

770

2667

593135 5 20954 604

54.1

104.5

'108 19' 50.87'51 31

386

113.4

3439

165.6

457

476

1 108114

114 6

784

22 51

6133217239 61305

1065

83 3253 4

92 6

451 9208 5

421 33148

8 8

49.0

9236

9,967

6 67812.40

14759 2

11 2444

160

807

289 2

192.2

138.7

3 90

112.8

2057

163.8

2,567

700

1 870163

111 9

81 3

3441248

92 3237 3922

47002209

40072932106

42.8

8941

10,125

663313.00

142568

10649 9

120

826

2734

48.5

120.2

442

114.4

1 119

156.1

2,063

677

2 529235

106 7

71 8

263912

95 62262

92 1

4589214 5

3667260 8126

422

51 5

1 0

9,790

642513.40

129543

10839 1

133

841

2466

8 10939804 129

68.4

117.5

17963108.7270903 79

104.2

2420

143.2

640

633

2397

238

104 4

77 9

1497

46 54167129 83

256907

112 0214792 1

48652350

388 12834122

45.6

44 11

10,251

694813.50

142758

12845 1

14 6

849

2954

336.1

110.2

438

106.4

994

142.6

614

775

2011

274

103 9

82 8

291998

129 0246689 1

45662256

39532838nl 4

44.5

594a 2

10,476

7 18913.40

153871

129604

11 60

853

(12)

"6.4

114.9

"446

113.0

"3 212

155.3

784

609

2059

"231

103 9

79 1

"323(12)

124 7314 4

88 6

419 52087

40232909

69

41.5

75 1

2 5

9,839

687813.10

139856

109798

80

841

"6 113"2687"3426

6.9

118.6

"132 19"76.74"5545

394

108.7

2676

133.4

957

656

2056212

103 9

79 1

1341

"3325"1244"2081

359

135 7341 988 5

4884231 9

39472838

87

49.0

852

1 9

10,860

7 86612.70

135957

10 184 6

162

816

47.9

130.1

5 17

111.6

14769

131.8

997

855

1 884308

104 2

76 2

399

124 7379 188 5

472 62362

40512881

80

47.7

905

3 1

10,770

7 65412.30

143998

117979

17 9

828

308.6

132.2

451

106.9

4402

118.1

1,037

705

1 915206

104 7

791

328

1225438388 5

4949247 0

42313073

8 2

47.0

1026

1 2

11,095

807512.20

14 1998

10 1984

17 5

834

4 4 2854 1 8424 2 443223.8

130.6

3 86 853 51.363 35 49

538

111.1

6 1.4276 8706 557

6436

117.0

631

749

1 618345

109 0

111

14 504 18 88

47.70411 17

266

953r464 2

885

48552400

''429 6r309.1

8 8

48.6

117.5

1 4

10,435

755312.30

13981.0

109775

249

854

171.4

106.6

508

103.1

2353

104.9

516

780

1 171201

110 2

557

249

[ '

722461 0883

4646226.8

438.2320.6

102

42.5

116.5

16

10,293

6,85112.60

12.760.8

9066.7

189

908

225.7

117.5

339

102.4

5064

92.5

428

616

889270

111 6

60.1

379

90.5

10,106

"12.90

14 8.734

114.9

"185.96

94.8

14 5.526

85.3

"6.910

112 1

593

"5618" 16.28"39 90




methodological notes are as shown in Units


Annual

1987 1988

1988


1989


FOOD AND KINDRED PRODUCTS; TOBACCO— Continued

GRAIN AND GRAIN PRODUCTS— ContinuedWheat— Continued

Producer Price Indexes:Hard red winter, No. 1, ord. protein (K.C.)

1982 = 100..Hard red spring, No. 1, ord. protein (Minn.)

1982 = 100..Wheat flour:

Production:Flour thous sacks (100 Ib )Millfeed thous. sh. tons ..

Grindings of wheat thous. bu..Stocks held by mills, end of period

thous. sacks (100 Ib.)..Exports thous. met. tons ..Producer Price Index 6/83 = 100 ..

POULTRY AND EGGSPoultry:

Slaughter , mil IbStocks, cold storage (frozen), end of period,

total mil IbTurkeys do

Price, in Georgia producing area,live broilers $ per Ib..

Eggs:Production on farms mil. cases §..Stocks, cold storage, end of period:

Shell thous cases §Frozen mil Ib

Price, wholesale, large (delivered; Chicago)$ per doz..

LIVESTOCKCattle and calves:

Slaughter (federally inspected):Calves thous animalsCattle do

Prices, wholesale:Beef steers (Omaha) $ per 100 Ib..Steers, stacker and feeder

(Kansas City) do..Calves, vealers (So. St. Paul) dollars $..

Hogs:Slaughter (federally inspected) thous. animals..Prices:

Wholesale, average, all weights (Sioux City)$per 100 Ib..

Hog-corn price ratio (bu. of corn equal invalue to 100 Ib. live hog).

Sheep and lambs:Slaughter (federally inspected) thous. animals ..Price, wholesale, lambs, average (Omaha)

$ per 100 Ib..

MEATSTotal meats (excluding lard):

Production mil. Ib.Stocks, cold storage, end of period do..Exports (meats and meat preparations)

thous. met. tons .Imports (meats and meat prep-

arations) doBeef and veal:

Production total mil IbStocks cold storage end of period doExports thous met tonsImports do...Price, wholesale, beef, fresh steer carcasses,

choice (600-700 Ibs.)(Central U.S.) $ per Ib

Lamb and mutton:Production total mil IbStocks, cold storage, end of period do

Pork (excluding lard):Production total doStocks, cold storage, end of period doExports thous. met. tons .Imports do .Prices:

Producer Price Index, Hams, smoked1982=100.

Fresh loins, 8-14 Ib. average,wholesale (N.Y.) $ per Ib

MISCELLANEOUS FOOD PRODUCTSCocoa (cacao) beans, imports

(including shells) thous. met. tons.Coffee:

Imports, total metric tons.From Brazil do

U.S. Import Price Index t 1985-100Fish:

Stocks, cold storage, end of period mil Ib

70.6

68.8

338,4846,135

760,459

5,8581,196.00

89.7

19,886

501282

.265

193.2

4317

.579

2,67934,468

64.60

71.3278.92

78,913

47.11

33.6

5,042

75.77

38,442623

915

1,250

23,821293394725

.972

3108

14,31228570

461

104.2

1.265

262.6

1,194,360235,680

81.6

411

290.8293.1

'344,154'6,161

'769,689

'4,800960.80

102.0

20,520

451250

.315

193.0

920

.583

2,41134,048

69.58

80.504 227. 67

85,516

43.25

19.9

5,122

60.71

39,763716

1,081

1,263

23,811323443753

1.031

3296

15,623358147439

296.2

1.188

236.7

920,040252,780

91.0

394

93.9

97.9

'28,533'504

'63,552

""il2.90107.0

1,600

712496

.400

15.9

2823

.698

2072,898

65.96

74.1477.50

6,199

45.60

16.2

387

57.55

3,171671

93

99

2,0132743758

.971

249

1,133337

1536

91.4

1.259

14.6

92,58022,500

364

93.3

102.6

'31,449'559

'69,983

""io8.20107.7

1,847

735552

.420

16.0

2525

.654

2273,120

67.08

79.4587.50

7,101

45.98

16.9

442

54.90

3,507634

105

114

2,1972984572

1.010

28

1,282287

1737

92.4

1.277

19.8

97,26030,720

396

101.7

104.0

'29,415'533

'66,037

'5,30331.30110.0

1,792

761573

.390

15.5

2322

.714

2072,927

67.71

79.894 202.44

7,534

41.28

15.7

452

58.35

3,462644

99

91

2,074311

4453

1.032

28

1,360288

1233

94.5

1.215

8.9

74,28026,280

887

397

105.3

106.2

'31,340'555

'69,983

'"109.40110.5

1,750

781583

.335

16.2

2420

.631

1972,871

69.13

82.99213.75

7,887

38.92

15.0

437

60.44

3,511664

102

88

2,0413004548

1.044

286

1,443321

1534

98.4

1.071

8.7

76,32038,520

407

103.6

102.7

'31,135'563

'69,662

65.60109.0

1,672

510304

.330

15.8

2618

.622

2022,698

70.07

81.31230.88

7,908

36.52

14.4

418

61.90

3,399701

103

89

1,909305

4650

1.047

276

1,463361

1532

99.1

.996

13.7

71,70012,180

393

105.2

103.3

'28,450'554

'63,833

'4,800135.70109.1

1,607

451250

.335

16.2

920

.661

2032,685

71.21

80.99225.63

7,703

40.58

15.7

447

64.75

3,358716

105

74

1 904323

4034

1.062

296

1,425358

1434

100.2

1.132

31.0

61,62014,400

90.1

394

110.1

111.5

'29,084'518

'64,991

681.70110.7

1,694

462263

.340

15.9

1220

.678

1962,711

72.35

82.02230.25

7,116

41.64

15.7

418

66.25

3,265745

6 84

6114

1,928322636672

1.073

27

1,310381

636

644.2

6 98,0706 24,616

392

108.0

108.9

'27,109'479

'60,789

129.32110.0

1,574

455263

.330

14.4

719

.666

1752,500

72.92

82.91225.06

6,619

41.11

15.7

415

66.83

3,003762

91

86

1,7723213750

1.080

276

1,204397

1031

24.0

77,71420,282

353

114.6

113.4

'26,963'480

'60,387

'4,423134.88112.4

1,830

458269

.330

16.0

1615

.910

1942,744

75.81

80.98257.50

7,569

39.88

15.2

505

69.50

3,326749

108

96

1,920305

4956

1.124

337

1,3733941134

30.4

82,07224,413

89.5

330

108.3

109.4

'27,186'482

'60,659

128.48'109.5

1,653

488299

.375

15.4

1815

.716

1522,576

75.31

78.58266.25

7,199

37.22

14.4

393

74.50

3,130767

105

91

1,7842804553

1.138

266

1,321438

1233

28.9

83,87431,128

330

115.0

114.6

'28,607'505

'64,739

103.44111.8

1,951

552356

.440

15.8

2616

.698

1572,947

74.52

78.25260.05

7,277

42.40

16.1

435

73.75

3,396735

110

98

2,0272514760

1.126

287

1,341431

1333

24.6

77,22312,053

357

111.2

107.5

'26,644'480

'59,645

'5,25317.78112.4

'1,959

'657'455

.410

15.2

'2715

.720

1612,951

71.71

79.08258.44

6,881

46.24

17.9

423

68.56

3,342686

119

94

2,051'248

5556

1.064

26'8

1,266'383

1332

18.4

71,16414,530

86.5

'376

107!3

106.1

26,492498

61,346

35.74110.9

1,771

687494

.375

15.6

1216

.718

1692,730

1 70.74

81.64246.88

6,131

' 47.26

'18.6

398

65.73

3,047657

116

91

1,9162555759

1.049

25

1,107347

1325

18.1

99,36818,678

386

106.6

106.9

110.2

.355

.796

71.09

84.54263.00

47.04

20.1

63.31

1.043




below, data through 1986 and |T .,methodological notes are as shown in ljnus


Annual

1987 1988

1988


1989


FOOD AND KINDRED PRODUCTS; TOBACCO—Cont.

MISCELLANEOUS FOOD PRODUCTS— Cont.Sugar:

Imports raw and refined thous met tons

Producer Price Indexes:Raw (cane) 1982-100

Refined do

Tea, imports metric tons

TOBACCOLeaf:

Production (crop estimate) mil. Ib.Stocks, dealers' and manufacturers',

end of period do

Exports incl scrap and stems metric tons

Imports, incl. scrap and stems do

Manufactured products:

Consumption (withdrawals):Cigarettes (small):

Tax-exempt millionsTaxable do

Cigars (large), taxable do.

Exports, cigarettes do ....

560 592

1 157

110.3

1064

77390

1 1,191

4480

193 178

222 197

111 199577 008

2676

100,246

877 3651 213

411194 108 9

90 143

1 1,370

4020

216 481

196 429

132 953543 378

2,430

118,499

35 989

112

1180

1082

7 987

11 805

19 665

9 16431 416

173

10,167

28 278

144

111 8

1100

7873

11 181

19 297

11 66434373

224

9,914

23 016

99

111 6

1099

5 860

3933

14279

20404

11 68251 941

237

10,557

38 223

164

1107

1123

5 642

14806

16088

11 33846871

208

10,501

16 816

90

1102

1122

6792

20886

12218

1558556264

200

10,214

615 552

134

1120

1137

7 959

4020

20588

5248

12 15839548

189

11,146

5 24 2305 104

1110

115856 610

5 25 9165 14 603

1094746915

1645 8,661

36 168112

1119

1158

5966

25393

11 507

11 70241 936

164

2,187

27 170

152

1123

1160

8290

3825

22 17712411

11 41951 723

209

1,731

27 337

84

112.3

1158

7 170

19356

19382

9 50244351

174

9,129

22806

126

113.8

1170

7 193

14701

16202

1280052858

241

1,248

33808

149

115.4

1169

7 124

11696

11032

1302751549

246

1,701

18350

181

118.5

118.1

7394

6990

20,427

772

118.3

118.5

. 6 1,494

LEATHER AND PRODUCTS

LEATHERExports:

Upper and lining leather thous sq ft

Producer Price Index, leather 1982=100 ..

LEATHER MANUFACTURESFootwear:

Production total C) thous pairsShoes, sandals, and play shoes,

Slippers doAthletic doOther footwear. ,. . do

Exports do

Producer Price Indexes:Men's leather upper, dress and casual

1982=100..Women's leather upper doWomen's plastic upper do....

194 152

140.9

225 888

162 3235554880172360

14713

111.4

1072104.9

215 3584 167.5

217 636

57781

2464

18394

4 121.3411254 107.5

15023

165.7

13887

(3)4055(3)

117

1 661

121.9

1130107.2

13967

168.2

19 531

(3)5348(3)

313

1 432

122.8

113 6107.3

21 022

168.8

19 451

(3)4909(3)

306

1 635

123.2

1133107.7

22556

170.7

19403

(3)5 181(3)

204

1 483

123.1

113 5105.9

15835166.0

19 611

(3)6 156(3)

210

1 652

123.5

1140108.4

22519

164.9

15778

11 4213429

928165

1 438

124.6

114 0109.4

166.6

18070

124284752

885253

125.2

1142109.5

169.4

18455

(3)

5241(3)

260

125.8

1149110.0

170.2

19 590

(3)

5783(3)

281

126.0

1149110.0

'168.2

16606

(3)

4335(3)

271

125.1rl!53109.8

166.7

18725

(3)

5 135(3)

267

125.0

115.1109.9

165.6

17 506

11 538r5256

712266

125.0

115.1110.3

170.0

13478

91883671

619240

125.3

116.2110.8

171.2

129.0

118.4109.1

LUMBER AND PRODUCTS

LUMBER-ALL TYPES #

National Forest Products Association:Production total mil bd ft

Hardwoods doSoftwoods . . . . . . do

Shipments total doHardwoods doSoftwoods . . . . . . do

Stocks (gross), mill, end ofperiod, total doHardwoods doSoftwoods do

Exports, total sawmill products doImports, total sawmill products thous m3

SOFTWOODSDouglas fir:

Orders, new mil. bd. ft .Orders unfilled end of period doProduction doShipments .... doStocks (gross) mill end of period doExports total sawmill products thous m3

Sawed timber doBoards planks scantlings etc do

Producer Price Index, Douglas fir, dressed1982=100..

2 49 3952 11 1602 38 2352 49 7612 11 4602 38 301

618314124771

35912

10325548

1035410445

7901 614

3261 288

125.1

2 48 3502 11 4462 36 9042 47 9622 11 1632 36 799

33 547

9,412636

93909324

8562202

3421 860

135.7

3 671958

2713

3 688898

2790

4 677

2884

59954166868477521533

179

140.6

4 0561 15828983 9291 1172812

4765

2 799

721553

75170981720531

177

138.6

4 1801 0033 1774 038

9213 117

4823

2846

896622

84082783019824

175

142.7

4 040778

3 262

3 871737

3 134

4 951

2872

795611840806864

19626

170

140.5

3715747

2968

3 656716

2940

4 979

2695

65155373270988718433

151

138.7

3 641690

2951

3 649665

2984

4945

2 190

897636783814856201

24177

133.6

3849768

3081

3914781

3 133

4896

5 6 026

869691781814823

5 2065 50

5 156

135.9

3311713

25983417

7432674

4818

5036

569619

58164176319623

173

140.7

3758687

3 071

3877826

3051

4837

823659746783726

142.0

3773829

29443846

8742972

4 gio

692629

711722715

154.3

r4025864

r3161r4 163

937r3226

4740

694597741726730

160.3

4251799

3452

4397891

3,506

4746

931583948940756

164.2

762565778780754

167.8 162.4




below, data through 1986 and 1T ..methodological notes are as shown in unus


Annual

1987 1988

1988


1989


LUMBER AND PRODUCTS-Continued

SOFTWOODS-ContinuedSouthern pine:

Orders, new mil bd ftOrders, unfilled, end of period doProduction doShipments doStocks (gross), mill and concentration yards,

end of period mil. bd. ft..Exports, total sawmill products cu. meters-Producer Price Index, southern pine,

dressed... . 1982—100Western pine:

Orders, new mil. bd. ft..Orders, unfilled, end of period doProduction doShipments doStocks (gross), mill end of period do

Producer Price Index, other softwood,dressed 1982=100..

HARDWOOD FLOORINGOak:

Orders, unfilled, end of period mil. bd. ft ..Shipments .. . doStocks (gross), mill, end of period do....

1 12,614837

1 12,473'12,487

621,072

114.1

11,427524

11,40711,3541,365

119.0

11.0173.8

8.7

1 12,552836

'12,622'12,553

2,0651,237,638

112.4

10,976537

10,89810,9631,300

120.1

8.9193.010.9

867658

1,0331,012

2,04575,716

114.9

705500

714769

1,167

126.4

10.113.010.4

1,042694

1,042999

2,086105,112

106.3

790504

787786

1,168

123.1

8.616.810.5

1,109717

1,0561,087

2,057123,175

101.6

897507

940894

1,214

119.9

8.616.410.5

1,133772

1,0891,078

2,068124,101

102.9

925521

982911

1,285

118.0

10.316.310.9

1,151852

1,0281,069

2,028161,903

108.5

819487

887853

1,319

117.3

10.214.911.3

913836

971933

2,065171,664

109.5

955537

885905

1,300

116.5

8.915.310.9

1,067756

1,0671,099

2,036'108,674

110.0

987624

885900

1,285

118.4

9.616.110.6

869756

945917

2,062109,939

109.7

724533

779815

1,249

122.2

12.214.512.0

974733

1,047995

2,113

107.9

994589950938

1,261

124.5

14.121.010.4

1,107775

1,0641,064

2,114

106.1

814542

845861

1,245

' 128.5

15.016.89.8

1,236797

1,1231,213

2,025

104.6

869546

876865

1,256

130.7

15.117.510.5

1,154775

1,1321,177

1,984

108.6

1,058581

1,0231,023

1,322

131.4

15.618.911.0

113.1

888558

934911

1,345

131.1

12.814.68.9

107.3

129.3

METALS AND MANUFACTURES

IRON AND STEELExports:

Steel mill products thous sh tonsScrap . doPig iron . do

Imports:Steel mill products . .... doScrap . . . doPig iron do

Iron and Steel ScrapProduction thous sh tonsReceipts, net doConsumption do ..Stocks, end of period doComposite price, No. 1 heavy melting scrap:

American Metal Market * $ per long ton

Ore

Iron ore (operations in all U.S. districts):Mine production thous. met. tonsShipments from mines doImports.... doU.S. and foreign ores and ore agglomerates:

Receipts at iron and steel plantsthous met tons

Consumption at iron and steelplants do....

Exports (domestic) doStocks, total, end of period do

At mines doAt furnace yards doAt U.S. docks . do

Manganese (manganese content),general imports , do

Pig Iron and Iron ProductsPig iron:

Production (including production offerroalloys) thous sh tons

Consumption doStocks, end of period do....

Castings, gray and ductile iron:Shipments, total thous. sh. tons

For sale doCastings, malleable iron:

Shipments, total doFor sale do

1 12910367

50

20414843355

247304610569,6154821

8576

476444801316867

59 534

61,0486219

212792658

165652056

814

'48410rl 50,030

281

8 6066002

318168

206910098

71

'208911038

700

' 27 601'49946'76904

4552

10898

'57347' 56 69420 126

'73216

'71,8635286

234903296

180042 190

1 128

' 55 745rl 59 047

r207

85145717

364192

128815

2

1 6146612

2 177398761024 549

111 67

509564302341

7 228

6094684

204756325

124611 688

96

47624884

229

605443

2110

139799

2

1 7839045

22524 25463794657

113 26

5 15257951 866

7 243

5637429

21 4735682

14 0641 726

75

4 5844 687

247

748533

2715

207935

17

1 64813625

2296425665534640

11067

482155272 537

6906

5820363

22 9285372

15*4542 101

83

4 6124759

241

744504

3116

244579

2

1 5539499

2353439066064779

11081

4 9105 5501 431

6673

6009573

228554 355

16 1742324

78

46464766

242

805516

3115

243806

1

1 84612474

2294408563364828

109 17

470548901 441

6348

5695483

23 2114*170

168862 155

111

4 4554611

236

701500

2310

437964

1

1 4207716

2221374360444 552

107 28

47935 6581 810

7 165

5965797

234903296

180032 190

118

47124874

206

605412

2814

2571 887(3)

178412918

2275403265634634

11390

548905 2 155

5814

5 4 162

5 6 6875 344

5 23 1895 6 029

5 15 43551 725

(5)

49645203

268

682448

2813

237768

(3)

1 3369136

2 182409261894724

11607

42281 1581 384

3 295

59812

23 2529099

12*7491 404

46544882

281

623437

2513

6061 106(3)

1 2167811

2324436066994736

112 52

4 84118171 249

3903

66623

22 68512 1239*991

571

5 1125348

264

714452

3014

334785

1

1 34113893

r2258r4 175r6557r4725

11220

442654181 599

5996

6677606

21 14511 1319310

704

4990r5063

r269

696485

2411

3551 126

1

147210155

230341016,5514 581

113 09

532562432284

7331

6,230605

2167010213103961 061

49175017

278

743542

2712

4031260

154911433

111 67

51956495

6850

6,216

215448949

11 0021 593

4707

645466

2711

3031 101

1

14587245

10733

4 604




below, data through 1986 and TJ ..methodological notes are as shown in


Annual

1987 1988

1988


1989

j.. Feb. Mar. Apr. May June Ju!y Aug.

METALS AND MANUFACTURES—Continued

Steel, Raw and Semifinished

Steel (raw):Production thous sh tons

Rate of capability utilization percent

Steel castings:Shipments total thous sh tons

For sale total do

Steel Mill Products

Steel products, net shipments:Total (all grades) thous sh tonsBy product:

Semifinished products do....Structural shapes (heavy),

steel piling . . doPlates doRails and accessories do

Bars and tool steel, total doBars: Hot rolled (including

light shapes) doBars: Reinforcing doBars: Cold finished do.

Pipe and tubing doWire and wire products doTin mill products doSheets and strip (including electrical),

total doSheets- Hot rolled . doSheets' Cold rolled do

By market (quarterly):Service centers and distributors do ....Construction, incl. maintenance . doContractors' products doAutomotive doRail transportation doMachinery industrial equip tools doContainers, packaging, ship,

materials doOther do

Producing steel mills, inventory, end of period:Total mil sh tons

Steel in process . doFinished steel do

Service centers (warehouses), inventory, endof period mil sh tons

NONFERROUS METALS AND PRODUCTS

Aluminum:Production, primary (dom. and foreign ores)

Recovery from scrap .. do

Imports:Metal and alloys, crude do.. .Plates, sheets, bars, etc do

Exports:Metal and alloys, crude do. .Plates, sheets bars, etc do

Price, U.S. market, 99.7% purity,monthly average $ per lb..

Aluminum products:Shipments:

Mill products, total . doSheet and plate do

Castings do

Inventories, total (ingot, mill products, andscrap) end of period mil lb

Copper:Production:

Refined from primary materials doElectrolytically refined:

From domestic ores @ doFrom foreign ores do

Electrowon doRefined from scrap ... .. do

Imports, unmanufactured:Refined, unrefined,

Refined do

Exports:Refined and scrap do

Consumption, refined

Stocks, refined, end of period doPrice, avg. U.S. producer cathode, delivered §

$per lb..

'89 15179 5

830797

76654

1 5,456

5 1204048

5151 13 575

7238'49181361

3 5701 1053988

39 27913 04813 859

1 18,62956192701

ill 135734

2096

4 371'31 337

11 36746

64

3 343-il 986

4 1250.1*4103

428114 258 1

.7230

15 5841223473792232

4 175

1 255 91 146 1

'988 1

'15804147

657 35156

454817 9

J2 152113

.8249

1 99 92489 2

1 013997

1 83 840

1 5,975

'5209'7 328

'6151 14 489

'7 834'50921499

44431 0734069

406391258913 871

18,98060142815

120781 1162537

4423'36011

13 17 952

65

3 944'2 122

4 1,030 64 388 5

440014 342 5

1.1009

15 453122737 3842429

4 151

ri i 419 gn i 406 0

n 1 178 o

2280n 453 3

626 13904

707 766 5

n 2 28598

1.2051

8 313880

7776

6325

441

38160041

1 143

616418104

35094

321

2955947

1 013

1297 752

7 1

334160

*7954406

44164 24 6

1.2225

i 014994617146

4235

rl!6 2rl!57

r97 3

184r304

33 422 3

4473 5

154104

1.1485

8 181866

9290

7035

521

432625

47

1304

745432122

33692

355

3322983

1 117

1277 651

7 2

333170

48004284

44424323

1.2439

1 3571 089

672193

4 175

128 3118 8

r987

20 1r379

46 427 7

54 14 4

199101

1.0145

8 23790 1

9998

6922

486

45362745

1167

637411113

31987

322

34161 0441 149

4,5371460

6912901

176598

1 1218790

1297752

69

327167

49234 29 8

43904320

1.1138

1 3341 061

636209

4 175

120 11122

r91 9

203r423

42 4257

111 3143

193r90

1.1612

8 332877

9493

6912

490

42257739

1203

657424116

32192

323

34451 0321 159

1307852

67

339177

'81 94 29 6

4256431 0

1.0472

1 2931 029

604221

4 134

123 81203

r989

21 4r37 0

62 1442

48623

r202r82

1.3805

7 883858

9291

6712

453

41154342

1185

66440411129183

321

338410421 129

1317853

66

332163

*8204 28 4

44754240

1.0735

1 322979577220

4 119

121 11233

1023

21 0r37 5

59 4392

56 140

197r83

1.5232

7 954838

9594

6738

468

508367

36

1,121

593418105

30267

489

336010991 072

4,1971398

6813046'270601

1 1638944

1317952

65

344156

45494268

4513431 4

1.1000

1 155911566186

4 151

1?4 8123 9

1022

21 7r402

44 0202

5454 5

18598

1.6127

8 729882

9493

7 278

550

504601

44

1326

736443142

30287

288

357710251 217

1317952

66

346167

3 99.43356

3 34 83207

1.0772

1 2801 010

681231

4 189

126 4121 0

r994

r21 6r37 4

34083327

3325362

192r98

1.5777

8 022898

8786

6832

507

45157049

1,177

626421125

28086

278

343310871 137

1317853

67

312157

78.6244

418358

.9958

1 2491013

630219

4 163

120 7114 1

r943

198r408

330248

41048

185102

1.4021

8997909

112110

7824

535

49466160

1,294

689461137

36297

356

396512651 326

4,7201,595

6733235

296617

1016r9704

130775.3

68

347182

83.3316

40.2431

.9578

1 440rl*206

774235

4 160

13381253

1024

r229r47.3

250187

41359

190104

1.4849

8738922

101100

7164

520

47062953

1,205

667407125

32297

323

354410901 192

134795.5

69

334174

92.4309

33.3357

.9638

1 2671,067

657214

4246

125 11154

923

23140.3

359209

55.613 5

188102

1.4349

8633881

111110

7446

541

474623

59

1,236

678425127

35495

363

37011,0961 301

1337.85.5

7.0

347176

75.530.4

34.1604

.9780

1 3621,120

r702226

r4262

127 11303

1058

24542.4

200106

1.2715

8 171862

103102

7,331

532

45964551

1,168

614427121

37095

372

3,6381,0831 270

4,8171,749

7403020

306575

1,1399,635

1327.85.4

7.1

335177

.8766

1 4161,132

713207

4275

1.1590

7 955808

6,387

458

39260146

1,109

561442101

32480

328

3,047918

1066

23,4992 5732 2392 676

2 932 154

2 3672 2,786

.8040 .8137




below, data through 1986 and IT ..methodological notes are as shown in Linus


Annual

1987 1988

1988


1989



NONFERROUS METALS ANDPRODUCTS-Continued

Copper-base mill and foundry products,shipments (quarterly total):

Brass mill products .. mil IbCopper wire mill products

(copper content) . doBrass and bronze foundry products do ....

Lead:Production:

Mine recoverable lead thous met tonsRecovered from scrap (lead cont ) do

Imports ore (lead content) doConsumption, total do

Stocks, end of period:Producers', ore, base bullion, and in process

(le«ad content) ABMS thous met tonsRefiners' (primary), refined and antimonial

(lead content) thous met tonsConsumers' (lead content) Q doScrap (lead-base, purchased), all smelters

(gross weight) thous met tonsPrice, common grade delivered @@ $ per Ib

Tin:Imports (for consumption):

Ore (tin content) .... metric tonsMetal, unwrought, unalloyed do

Recovery from "scrap total (tin cont ) doAs metal do

Consumption, total . . doPrimary do

Exports (metal) doStocks, pig (industrial), end of

period doPrice, Straits quality (delivered) $ per Ib

Zinc:Mine prod., recoverable zinc thous met tonsImports:

Ores (zinc content) do .Metal (slab blocks) do

Consumption (recoverable zinc content):Ores doScrap, all types do

Slab zinc: @Production, total f thous. met. tons ..Consumption, fabricators .... doExports doStocks, end of period:

Producers', at smelter (ABMS) do....Consumers' .. . do

Price high grade $ per Ib

MACHINERY AND EQUIPMENTHeating, combustion, atmosphere equipment, new

orders (domestic), net, qtrly # mil $Electric processing heating equipment do. ..Fuel-fired processing heating equip do....

Materials handling equipment, dollar vftluebookings index * 1982—100

Industrial supplies, machinery, and equipment:New orders index, seas, adjusted 1977 — 100 ,

Industrial suppliers distribution:Sales index seas adjusted 1977 — 100Inflation index, not seas. adj. (tools, material

handling equip., valves, fittings, abrasives,fasteners, metal products, etc.) 1977 = 100..

Fluid power products shipments indexes:Hydraulic products 1985—100Pneumatic products do

Machine tools:Metal cutting type tools:

Orders, new (net), total mil. $..Domestic do

Shipments total doDomestic do

Order backlog, end of period do .

Metal forming type tools:Orders, new (net), total . do .

Domestic doShipments, total do...

Domestic do...Order backlog, end of period do...

2624

1922528

311 31 710 22403

12304

592

21 6886

2403594

296741 151

n i(j 159n i 353

n 44 219"35620

1 701

442841878

"2163

42557059

'25"2693

220.51 1 052 0

1 1

7.0571

4192

1 2260549

'171 1

207 1

1287

149 1

166.6

107105

1,451.451 294 451 676 501 498 85

6722

6673553605647.15537.90327.3

J3850'737 0

256612307

669

154652

21 43714

283743493

1 15 088'578

n 45 073Tl 37 008

1 573

548044142

n 244 3

40577408

24"2539

194.4rl 1 089 0

5

5.64906020

2282627

1655

213 4

1382

1640

172.2

129120

2,707 902315751 574 551 400 1018055

882957493582455702.20385.7

304553

253921

589

147633

1643650

4 379771113

53004200

89

566544611

188

489558

2220

16.8739(2)

6.05326564

210 6

1335

1624

172.3

116112

187.00167 5513770126 151 4100

679553 80530043.75399.6

363563

21 71025

730

60586

1993652

4 60269396

53004 200

204

43504 5770

21 5

35246

2220

16.6111 8

1

7.54846646

1882

1354

1762

173.4

134125

2615017930105 409300

15662

780073 50485540.75429.0

33 1607

23 3103 0

799

46622

2373841

1 1053249

71296

55004400

171

4 17146305

199

35161 2

2220

15.1869

2

9.449 46826

73 1142589

211 3

1349

1797

173.9

132124

2665025295151 20133 501 681 4

61 7051 65763565.70414.4

34461 8

21 31106

708

106594

21 83915

4434372

82196

56004 500

197

4 37145462

199

308639

2220

15.997 5

1

6.347 06945

273 6

141 0

170 1

174.2

134125

21540199 25145 90123351 751 0

468540 00662555.30395.0

31 161 6

23 5103 A

687

119607

1964138

4328703

9649003800

94

478145767

199

32364 2

2220

17.6872(2)

5.4488

7125

237 8

1427

1667

174.8

125118

188.351646017080156701 768 5

90656625867580.15398.8

31 8597

19 1951

669

15467 6

1994202

1303695

561

49003 800

45

494346029

19 3

279474

2220

14.788 1

(2)

5.64907344

60814 6462

252 6

146 5

167 6

176.0

132114

24640191 50209 35186401 805 5

700560 2083206430385.7

33362 1

3 17 21047

60 1

260684

1774017

(3)336l4

59811

48003700

3 62

4 24246435

22 2

3 33747

2220

17.8103 2

5 2

5.050 5

7927

181 8

1566

177 2

177.6

140130

1670014540102 858950

1 8697

63 85566049354220400.2

31 058 6

8 6983

552

330681

1683701

1492 114

64947

47003700

162

389449165

208

11526

2220

16.3814

2

4.05428770

1609

1590

1762

178.3

141128

21495191 30151 251339019334

67 0057 0577556640389.6

34467 5

7 31012

57 8

39 1721

17 33507

2839686

43003300

204

432054309

229

22609

2220

17.6960

3

3.35049371

618241378

201 0

1564

1600

179.5

158150

22060200 20227 45207 251 926 6

699058 2079206700380.4

332641

6 599.2

549

375683

1533502

2490627

474 5003400

41

371764213

224

1558 1

2220

16.8816

4

3.84838852

1530

180 3

180.1

151129

1528013850184 051683518953

8975764065505880404.6

338653C98

101.3

63 6

297665

13 23634

2,610r650

r4500r3400

47

r494562118

234

3162 1

2206

17.7r970

1

4.1r4888464

1473

173 4

181.0

150148

147.90138 10158401454018848

57 35498582357410379.6

354663

101.6

67 3

290650

1433915

62147

45003500

490360796

228

2206

16.1900

3.65058059

66825641.3

1420

1640

182.1

148144

732

16.2

3.9

7967

1413

1755

182.8

128125

18.6

4.8




below, data through 1986 and TT ..methodological notes are as shown in Units


Annual

1987 1988

1988


1989



MACHINERY ANDEQUIPMENT— Continued

Tractors used in construction, shipments, qtrly:Tracklaying (ex. shovel loaders) units

mil. $ ..Wheel (contractors' off-highway) units..

mil $Shovel loaders $ units

mil $

ELECTRICAL EQUIPMENTBatteries (auto.-type replacement),

shipments thousRadio sets, production, total market $$ thous ..Television sets (incl. combination models),

production, total market $$ thousHousehold major appliances, factory

shipments (domestic and export) # thous..Air conditioners (room) doDishwashers doDisposers (food waste) do....Microwave ovens/ranges @ do....Ranges doRefrigerators doFreezers doWashers doDryers, including gas do ..

Vacuum cleaners (qtrly.) do....

GAS EQUIPMENT (RESIDENTIAL)Furnaces, warm air, shipments thousRanges, total, shipments doWater heaters (storage), automatic,

shipments do....

9668973.85,4824155

62,8251 819 5

5987828,110

23497

49,98137984,0324,438

12,610334669721,2605,9984,637

10,417

20732143

3,951

12 1171,167.1

5,110416 1

619382092 1

6348723,623

20170

3 47,0703 4 6373,9074,233

10,9883 3 202372273 1,3493 6,190

4,60110,652

209232167

3,956

47332,075

1485

3,817406312345746245778156460328

164162

287

57832,120

1853

3,150198349364770287781152589429

201193

290

2835282.61,376115 2

14944503 1

67572,493

2567

3,963111335369

1,031270686128584437

2,882

254182

321

64632,670

1953

3,975129336387

1,123302625110533413

252203

381

60412,834

1838

3,933126355381

1,22428753799

508401

223203

307

3 323277.91,172956

14 5445258

62451,940

2329

3,679215318343

1,161262467

94440363

2,550

177191

383

46741,688

1649

3,947352326391

1,054245466

93553436

178158

337

42031,518

1846

3,916546293380963225460

94510394

148156

328

2720299.91,167898

151075396

47541,752

2254

4,44484632441490627356490

539385

2,952

135194

375

41721,927

3,86871827533582422653693

457323

132163

354

46561,985

4,326748292336907263686111533374

142182

324

4,9822,140

4,389718324331788263785116572389

2,545

168185

345

4827

3,505365257285761218660129437305

186149

303

PETROLEUM, COAL, AND PRODUCTS

COALAnthracite:

Production t thous sh tonsExports thous. met. tons .Producer Price Index 1982=100 ..

Bituminous:Production t thous. sh. tons..Consumption total t do

Electric power utilities... . . doIndustrial, total do

Coke plants (oven and beehive) doResidential and commercial do

Stocks, end of period, total t doElectric power utilities doIndustrial, total do

Oven-coke plants doExports thous met. tonsProducer Price Index 1982=100 ..

COKEProduction:

Beehive and oven (byproduct) .. thous sh tonsPetroleum coke § .do

Stocks, end of period:Oven-coke plants, total do

At furnace plants .doAt merchant plants do

Petroleum coke tt doExports thous. met. tons .

PETROLEUM AND PRODUCTSCrude petroleum:

Producer Price Index 1982 — 100Gross input to crude oil distillation

units ft mil bblRefinery operating ratio tt % of capacity-

All oils, supply, demand, and stocks: tt

Production:Crude petroleum ' doNatural gas plant liquids do

Imports:Crude and unfinished oils do....Refined products do

Change in stocks all oils doProduct demand total do

Exports:

Refined products do

35601,071100.1

915,202834 337716 922111 696369205719

178 485163 857146283879

7043897.1

2803737,380

1064846218

1350590

55.5

4,746.183

6 089 6

3,047.46056

1,837.35994149

63608

550223 0

3458817

1 101.2

946,304880 242756 459117 73041 8666054

151 446139 58311 8633 125

85282'95.3

3240539811

15831,420

1631 5581 Oil

'462

4,921.684

6 301 7

2,979 1614 2

2,021.66868102

66234

567241 0

24671

100.3

69,17681 63771 50095333 601

604153 434141 57511 8593 4607461

95.6

3333

1 69456

457

427.986

527 2

249251 9

172.853317 3

543 1

5819 8

36088

100.3

88,17585 10775 16593563 414

586146 435134 77411 6603 1648 367

95.0

3347

1 51260

450

432587

531 5

250552 1

169.659356

567 1

4720 4

315177

100.8

83,19671 22161 4609 4163457

345147 691136 22911 46228688948

95.4

8 1953205

1 2711 107

1641450

84

426

400784

512 4

2368504

167.257949

5323

36165

37794

100.9

80,7997000959 446102073 545

356151 931140 33611 59529538072

95,5

3281

1 61241

39 3

412483

544 5

2487531

183.858820

5676

52175

30250

102.3

82,9256974259 192100763399

474

154 919143 19011 72930397 476

94.6

3347

1 657131

39.2

400684

523 8

240.751 8

167.2641

8

5500

4 417 0

25387

103.2

80,2607779266775102553 564

762151 446139 583

11*8633'l258089

94.6

8 2513462

1 5831420

1631 558

167

44 3

420285

5384

2462527

172.3672340

6005

40272

2812 59

103.3

81,96977 1016635510 1993 562

547146 462135 16811 2943 254

2 5 65994.1

3505

1 5882 52

49.7

418886

5477

245.353 5

182.8661199

5568

4 2190

28211

103.3

75,040730126253898743290

599141 366130 6411072433826106

93.5

2 931

1 66930

50.3

364.300So

4864

219.2459

161.160217 9

5217

58185

33750

103.5

88,9817255061 830102773716

443142 600132 44410 1553 5117,542

93.5

80063,201

1 1671,052

1151655

76

53.9

407.984

517 6

235.9527

165.763932 1

5816

48216

27070

103.1

77,213

55837

138 130

8,18694.1

3,200

193160

r58.9

393.984

5248

232.451 5

186.754226 5

5210

4 2200

27682

103.0

82,503

58261

144417

8,70194.7

3,337

2,086115

59.8

420.486

5320

242.051.9

188.549.726 5

535.2

4 1201

253110

103.0

78,551

8,64894.8

3,406

1,813115

58.4

421.690

512 1

229.846.6

189.346.3147

5505

73215

21155

103.0

64,881

5,57796.3

100

59.9

334

103.2

89,074

96.5

53.6




below, data through 1986 and ,, .fmethodological notes are as shown in turns


Annual

1987 1988

1988


1989


PETROLEUM, COAL, AND PRODUCTS—Continued

PETROLEUM AND PRODUCTS t-ContinuedAll oils, supply, demand, and stocks— Continued

Domestic product demand, total # mil. bbl..Gasoline doKerosene do

Distillate fuel oil doResidual fuel oil doJet fuel . do

Lubricants doAsphalt doLiquefied petroleum gases do

Stocks, end of period, total : do....Crude petroleum do

Strategic petroleum reserve doUnfinished oils, natural gaso-

line, etc.. doRefined products. .. do

Refined petroleum products:Gasoline (incl. aviation):

Production doStocks, end of period do

Prices, regular grade (excl. aviation):Producer Price Index 1982-100 ..Retail, U.S. city average (BLS):

Leaded $ per gal.Unleaded do...

Aviation gasoline:Production mil. bbl ..Stocks, end of period ... do

Kerosene:Production doStocks, end of period doProducer Price Index (light

distillate) 1982=100 ..Distillate fuel oil:

Production mil bblImports doStocks, end of period do....Producer Price Index (middle

distillate) 1982—100Residual fuel oil:

Production mil bblImports doStocks, end of period ... doProducer Price Index 1982—100

Jet fuel-Production mil bblStocks, end of period do....

Lubricants:Production doStocks, end of period ... do

Asphalt:Production doStocks, end of period do

Liquefied petroleum gases:Production, total do

At gas processing plants(LP.G) do

At refineries (L.R.G.) do...Stocks (at plants and refineries) do...

6,082.72 639 1

34 5

1 0864461 55055

58717035883

1,607.588965406

138 3579 5

2506 2191 1

59.5

897.948

9.123

2878 4

54.1

9966932

134.5

555

3232206 1474531

490 149.9

609133

1584188

6382

4745163.797.1

6,325.726948

352

1 142 5504 3530 2

566171 26061

1,597,28899559 5

1458561 6

2555 21920

2 58.2

900946

9.321

2887 3

2 51.6

1 04631104123.5

249 5

3387235944 6

2411

501 343.8

62313 3

162 1208

6652

4826182.6

97.3

517.52330

1 8

81 837 743 5

46212438

1 629.19008551 3

1600568 3

22291812

63.2

923967

1.018

206 2

51.0

86369

120.0

469

28 114941 0404

42346.9

5214 1

18 6263

57 1

40 4167

111.7

542.0235 1

18

89 1409447

5 1250462

1 623.588575521

158 15797

224 51854

64.4

945.987

1.019

2 57 2

50.0

88386

125.7

46 8

26918038039 6

41 746.6

53137

200226

57 3

40 2170

120.6

512.1223 0

24

84 6369427

4 921 3509

1,628 4883 25547

158 35869

20931846

58.1

933.974

.819

247 5

49.2

83 392

131.5

459

25520944 6404

41 246.6

4312 5

17 820 1

552

39 3159

121.2

545.0226 2

27

99 841 646 2

4 7180546

1630489565560

156 15787

21341823

56.6

910957

.819

2 580

46.9

876104

128.2

423

264187425388

42 447.1

52128

15719 0

580

42 1160

119.7

528.62220

35

95 545 143 2

48121535

1,631 389575587

1583577 3

21241858

596

904949

.619

3 08 1

48.4

87398

128.8

47 2

27 523 544 o365

40 146.1

50125

11 0187

550

40914 1

113.5

569.32283

4 8

110 4544478

3670

623

1,597 28899559 5

1458561 6

227 21920

55.1

885.930

.821

3 173

50.4

95 1127

123.5

506

33 130 244 6400

45843.8

5013 3

8 5208

56 1

41 514797.3

533.62094

4*4

102 249 5462

4343

636

1,619 5894 8561 5

151 85729

2156207 8

55.3

876918

.620

3 47 3

54.6

92 210 2

120.3

549

29 427 247 042 1

46644.5

54143

84256

582

41 816387.0

497.4199 1

36

95547 1428

4356

571

1,601 68966563 9

154 8550 1

18672057

57.4

886926

.622

2059

54.3

78490

107.5

540

260242460437

39 443.7

4 614 5

8229 1

50 2

36413977.5

555.12308

26

106347 6458

577 1

562

1,569 5892 55662

15625207

2057191 1

60.6

907940

.721

2457

55.7

84 113696.6

57 3

29021 842443 5

43 344.0

52139

10 232 6

58 9

41 617375.0

496.8215 4

20

89 242641 2

46108452

1,595.9907 45680

15805305

20521906

74.5

10471.065

.618

2058

58.3

83 690

98.4

615

27 1204402473

38 144.2

46135

10 533 1

58 5

40617.983.8

511.12307

16

91 734 241 2

57155420

1,622.491575704

16305438

21581858

80.1

10981.119

.918

1 457

58.3

85 290

99.3

57 5

289163426494

38745.4

53132

140324

603

40419997.2

521.72349

20

899355446

5018.642.5

1,607.790285717

16035447

21961804

78.0

1.0931.114

.920

2 158

55.4

84370

99.4

533

28515444 8512

40 544.6

50130

15530 6

54 7

35619.1

105.2

74.7

1.0751.092

54.7

527

494

64.6

1.0341.057

55.5

534

485

PULP, PAPER, AND PAPER PRODUCTS

PULPWOODReceipts thous. cords (128 cu ft.)Consumption doInventories, end of period do

WASTE PAPERConsumption thous sh tonsInventories, end of period do....

WOODPULPProduction:

Total thous sh tonsDissolving pulp doPaper grades chemical pulp do....Groundwood and thermo-

mechanical do....Semi-chemical . do

Inventories, end of period:Producers' own use do....Producers' market doConsumers' purchased do....

Exports, all grades, total thous. met. tons..Dissolving and special alpha do....All other do ..

Imports, all grades, total do....Dissolving and special alpha do....All other do

1 94 3121 93 946

5096

1 17 993887

1 59 5521312

48,293

5,7024246

170224529

'4,727627

M,1001 4,531

871 4 444

1 95 5371 95 497

4888

1 18 8601068

J61 1611 367

49,493

5,9434358

172261622

1 5,160786

'43741 4,505

124'4381

7 6527 9014232

1 525905

5 219117

4,241

497

194236548

35651

305377

2376

80077 9514325

1 626971

5265119

4,272

504371

199247634

45157

395

41715

403

80807 9564 484

1 5531 057

5007135

4,045

473354

198272628

47073

396

34410

82457 9084726

1 5971 022

507999

4,100

513367

161275583

38267

315

3964

392

7 8897 8874790

1 5651 058

4974112

4,007

489365

170301591

38166

315

38615

371

83708 1984888

1 5261 029

5282127

4,303

484367

172261622

51981

438

28516

269

84408 3584861

1 5721 008

5466127

4,423

520397

178344596

34153 50

3 3653 517

3 233 494

7 7487 8374701

1 498988

4821102

3,935

438346

178354608

46063

397

35814

345

80358 1694490

1 6151 012

5307142

4,286

502378

179279592

7 8588 0404402

1 5551 024

5 193106

4,209

512366

190306596

8 0058 1124320

1 6241 024

5087'l09

4,125

497356

162305628

835883484343

1 5911 036

5 104'l02

4,167

482353

166298588




below, data through 1986 and f, .,methodological notes are as shown in


Annual

1987 1988

1988


1989

Jan. Feb. Mar, Apr. May June July Aug.

PULP, PAPER, AND PAPER PRODUCTS—Continued

PAPER AND PAPER PRODUCTSPaper and board:

Production (API):Total thous. sh. tons..

Paper doPaperboard do

Producer Price Indexes:Paperboard 1982—100Building paper and board do ...

Selected types of paper (API):Groundwood paper:

Orders, new thous. sh. tons-Orders, unfilled, end of period do....Shipments do

Coated papers:Orders, new doOrders, unfilled, end of period doShipments do

Uncoated free sheet:Orders, new doShipments do

Unbleached kraft papers:Shipments thous sh tons

Tissue paper, production do....Newsprint:

Canada:

Shipments from mills doInventory end of period do

United States:Production doShipments from mills doInventory, end of period do....Estimated consumption, all

users A doPublishers' stocks, end of period #

Imports do.. .Producer Price Index,

standard newsprint 1982—100 .

Paper products:Shipping containers, corrugated and solid

fiber shipments mil. sq. ft. surf, area..

1 74,3183687637 442

118 1111.2

1 1,542166

1 1498

;7066708

6860

1 11 1731 11 206

rl 2 840

'5,301

96699757'l89

53005*310

36

12322

900

8,142

1123

297,827

1 76,40338 2°838 105

1332113.3

1 1,654r208

'1624

rl 1 412r751

7359

Tl 11 29811494

n 2 8001 5,476

99699867

291

54275415

48

12336

932

7,794

1276

307,457

6,2713 0903 181

134 3113.9

131177134

662746594

909920

240

452

827794343

436431

65

968

973

660

1278

r24,560

6,6073 3233 284

134 5112.7

136171147

641756648

9531001

250

471

846847342

461459

67

995

1 007

663

1277

26,878

6,3463 2193 127

136 21125

143173141

584729606

927973

261

458

790830301

44644767

1 047

1 004673

1278

26,059

6,4663 2643 203

13641125

145168147

666749625

937965

248

476

865803364

461461

67

1 135

936

638

1277

27,797

6,2223 1653 056

13651127

113145130

575729606

880943

254

445

837845356

448456

59

1 094

898641

1275

24,876

6,2963 1403 155

13651133

177r208125

570r751573

989948

258

450

809874291

464475

48

1037

933

489

1266

23,467

6,5823 2973'285

13771129

140182148

588678633

931976

272

466

850763378

46043771

963

9363 1,351

1265

26,444

5,98529892996

1387113.8

127180133

561696550

884912

235

437

777731425

404412

64

r934

925

568

1260

24,086

6,63833483 290

1404114.2

163204147

599701604

10151021

264

503

806814418

46946270

1 052

889

1266

26,755

r6,191r30423 150

1423115.1

134178149

505647544

r870r923

199

451

814785446

44944278

1057

850

126.5

26,367

r6,419r3 154r3266

143 5115.5

154186151

r609694577

r864r955

r206

474

838851434

45846273

1 044

838

124.1

26,734

'6,309'3099r3211

141 3115.8

149r200139

r632r737r577

r916r902

r229

466

780821412

45245273

r995

r829

123.4

26,391

6,34130623,279

1402116.4

151193148

, 46<25568

868867

209

458

814775451

474472

74

954

827

123.6

24,550

140.3116.1

122.6

RUBBER AND RUBBER PRODUCTS

RUBBERNatural rubber:

Consumption thous metric tonsStocks, end of period do

Imports, incl. latex and guayule do .

U.S. Import Price Index t 1985-100 ..Synthetic rubber:

Production thous metric tonsConsumption . .. . do

Stocks end of period do

Exports (Bu. of Census) do

TIRES AND TUBESPneumatic casings:

Production thous

Shipments, total doOriginal equipment doReplacement equipment doExports do

Stocks, end of period doExports (Bu of Census) do

Inner tubes:P

775827246

75760

115.7

2 184 122 017 31

2297242940

1 202 978

255 22060758

186 4068056

343389580

1 518

8582861 74

85382

147.7

2 324 862 009 64

276 62459 98

J211 351

264 81162932

189 2121266633 191

16 149

1 712

53 5468 744949

187 3616091

261 01

2976

15022

20 1013 526

15783793

37 355995

162

80 5771 18

83 25

200 36171 10

259 87

44 03

18058

24 0024844

180421 116

360641 348

130

64 6063 93

59 12

1499

189 61162 45

258 61

38 62

18 115

237385556

17 1181 064

34 7711 420

149

745357 926931

193 1517058

259 03

37 18

19 138

24 3125672

174761 163

34 0741 400

182

75395843

7743

201 86180 53

258 20

3625

17 253

226225529

16 103'989

334341 322

144

75 2261 747473

1327

18876150 50

276 62

32 12

16 102

206354934

14 708993

33 1911 314

132

r89 8871 11

5 44 34

2050619027

286415 18 93

18944

21 4665485

14 5761 405

35 1863 1 903

3 243

r51 1467 512329

178 15170 20

284 46

20 38

18 102

196135348

12886l'377

378841 373

122

r9657r77 37

135.1

20408187 30r2Ql 12

19 670

221665569

150081^588

40552

19 224

223755770

152211,384

42791

19 090

230225,806

158961,320

43,580

106.0

18312

24,5585,130

18 1981,231

42,695




below, data through 1986 and ,, .fmethodological notes are as shown in


Annual

1987 1988

1988


1989


STONE, CLAY, AND GLASS PRODUCTS

PORTLAND CEMENTShipments finished cement thous bbl

CLAY CONSTRUCTION PRODUCTSShipments:

Brick, unglazed (common and face)mil standard brick

Structural tile, except facing thous. sh. tons..Sewer pipe and fittings, vitrified do....Floor and wall tile and accessories, glazed

and unglazed mi so ftProducer Price Index, brick and structural

clay tile 12/84-100

GLASS AND GLASS PRODUCTSFlat glass, mfrs.' shipments thous $.Glass containers:

Production t thous. gross.Shipments total t do

Narrow-neck containers:Food t • doBeverage doBeer doLiquor and wine t do

Wide-mouth containers:Food and dairy products do

Narrow-neck and wide-mouth containers:Medicinal and toilet doChemical, household, and in-

dustrial do

Stocks, end of period t do..

GYPSUM AND PRODUCTSProduction:

Crude gypsum (exc. byproduct) ... thous. sh tonsCalcined... do

Imports crude gypsum doSales of gypsum products:

Uncalcined doCalcined:

Industrial plasters . doBuilding plasters, total

(incl Keene's cement) doBoard products, total mil sq ft

Lath doVeneer base doGypsum sheathing doRegular gypsum board do.Type X gypsum board doPredecorated wallboard do5/ie mobile home board doWater/moisture resistant board do ....

J481 160

7 600 5

(2)316.9

4789

1082

1 457,587

285 030

281 636

27252624348535728382

62673

14 167

1371

41926

1 15 6121 17 592

9717

1 6 324

'496

^2801 20 507

231 479'313

: 13 92014 489

'128;598'557

1 477 958

7 807 8

58.1316.3

4882

1109

1 484 949

280 102

276 024

2513761 3258629926 593

65885

9772

1013

42426

« 16 390rl 17 274

19 679

n 5 375

J150

235n 20 563

r21r472

rl311rl 13 888n 4 583

rl!32rl605"550

43 803

682 1

5.331.2

368

111 1

2547524387

2 16758967 7412 533

5324

674

5244466

1 2031340

804

444

12

191 698

1

3723

1 027479

106953

49564

751 0

4.736.6

422

111 1

2522525 598

282859687 4822338

6 121

786

7543544

10591 458

775

417

10

221 914

2

4426

1 143549117960

47 580

714 14.7

27.7

420

111 1

380 269

2258623 196

23495 12969431 846

6013

825

9142,466

1 5211 444

760

462

11

191 766

1

4024

1 057499

107956

47 250

75264.7

26.2

41 3

111 0

2545722882

1 74847757 3321 960

6 153

829

8544835

1 4291 760

850

533

13

191 897

2

4026

1 139541

98059

39750

6173

4.722.2

40 5

111 2

2099320344

1 5114 2166 6021*798

5294

814

10945,150

12791385

915

460

12

181 699

2

4018

1 043468

106555

32 505

516 0

4.715.6

400

111 2

383 612

1700919431

13274 30664031 715

4828

753

9942426

1 4601330

875

564

13

161 641

1

3730

1 005453

105353

27 176

50044.7

18.4

39 3

111 6

2223721 944

16054 5287 3901 959

5635

727

10042807

1 0901 400

365

(4)

•*31

1 7001

4020

1 027484

106156

23 133

429 9

4.714.3

424

111 6

2235220936

1668430467671 883

5402

796

11644078

1 1601300

380

291 644

23918

1 010460

95155

33782

5548

(2)21.4

46 6

1120

439 968

2548224 178

185252017 7672 113

6 351

768

12649628

1 1301 570

758

418

311 874

2

4222

1 134542

106261

39 261

5692

(2)24.8

41 5

111 9

2383724 831

19396 1147 9402 154

5 810

752

12244,423

1 1001450

915

413

(2)

1 6982

4322

997500

96758

44 585

r636 6

(2)25.8

46 2

1117

r25 784r25 561

r2334rQ 250r8018r2391

r5621

r878r79

r44 862

1 1101320

913

431

(2)

1 7441

4724

1036507

106258

47085

625 5

(2)24.4

469

111.7

2517526387

2342646082792599

5885

739

8343,866

12101430

433

(2)

17732

4025

1061520

95957

43782

111.7 111.8

TEXTILE PRODUCTS

FABRICWoven fabric, finishing plants:

Production (finished fabric) mil. linear yd..Cotton do .Manmade fiber and silk fabrics do....

Inventories held at end of period do ...Cotton do ....Manmade fiber and silk fabrics do....

Backlog of finishing orders do..,.Cotton do.. .Manmade fiber and silk fabrics do....

COTTON AND MANUFACTURESCotton (excluding linters):

Production:Ginnings () thous. running bales ..Crop estimate thous. net weight bales §..

Consumption thous running balesStocks in the United States, total, end of

period $ thous. running bales.Domestic cotton, total do....

On farms and in transit do....Public storage and compresses do...,Consuming establishments do....

14,35914,7607 446

13,72213,7222,525

10,555642

14,98515412

7 294

16062160621,957

13,524581

136

433

57235723

3004,714

709

804

563

1897318973139744,348

651

2,279

3 676

18 12218 122124875,027

608

6,888

454

177551775589758210

570

11,698

509

17 11517 1154,838

11,722555

14,277

3 554

1606216062

195713,524

581

554

1480914 8091 081

13141587

570

1370513 7051026

12,048631

3 734

1234912349

99310,734

622

611

1068310 683

7079,353

623

631

99519 95110768,229

646

7-3 781

858085801,2196,760

601

90

791

5 12 279537




below, data through 1986 and ,, ..methodological notes are as shown in unus


Annual

1987 1988

1988


1989


TEXTILE PRODUCTS—Continued

COTTON AND MANUFACTURES— Cont.

Cotton (excluding linters)— Continued

Imports thous net-weight bales §Price(farm), American upland <> cents per lb..Price, Strict Low Middling, Grade 41, staple 34

(IVie"), average 10 markets cents per lb..

Spindle activity (cotton system spindles):Active spindles, last working

day, total milConsuming 100 percent cotton do

Spindle hours operated, allfibers, total bil

Average per working day . . . doConsuming 100 percent cotton do....

Cotton cloth:Cotton broadwoven goods over 12" in width:

Production (qtrly.) mil sq yd.Orders, unfilled, end of period, compared

with average weekly productionno weeks' prod

Inventories, end of period, compared withavg. weekly production no. weeks' prod ..

Ratio of stocks to unfilled orders (at cottonmills), end of period

Exports, raw cotton equivalentthous. net-weight bales §..

Imports, raw cotton equivalent do

Producer Price Index, gray cottonbroadwovens 1982= 100 ..

MANMADE FIBERS AND MANUFACTURESFiber production, qtrly:

Acetate filament yarn..... mil. lb..Rayon staple, including tow do....Noncellulosic, except textile glass:

Yarn and monofilaments do....Staple, incl. tow do

Textile glass fiber do

Fiber stocks, producers', end of period:Acetate filament yarn mil lbRayon staple, including tow doNoncellulosic fiber, except textile glass:

Yarn and monofilaments do....Staple, incl. tow do....

Textile glass fiber do

Manmade fiber and silk broadwoven fabrics:Production (qtrly.), total mil. sq. yd..

Filament yarn (100%) fabrics do....Chiefly rayon and/or acetate

fabrics doChiefly nylon fabrics do....

Spun yarn (100%) fabrics do....Rayon and/or acetate fab-

rics, blends doPolyester blends with cotton do

Acetate filament and spunyarn fabrics do

Producer Price Index, gray syntheticbroadwovens 1982= 100 ..

Manmade fiber textile trade:Exports, manmade fiber equivalent mil. Ibs..

Yarn, tops, thread, cloth do....Cloth, woven . do

Manufactured prods., apparel,furnishings do

Imports, manmade fiber equivalent doYarn, tops, thread, cloth. . do

Cloth, woven doManufactured products, apparel,

furnishings doApparel total do

Knit apparel do....

WOOL AND MANUFACTURESWool consumption, mill (clean basis):

Apparel class mil lb

Wool imports, clean yield do....Duty-free do

Wool prices, raw, shorn, clean basis, deliveredto U.S. mills:

Domestic— Graded territory, 64's, staple 2%"and up dollars per lb .

Australian, 64's, Type 62, duty-paid do....Wool broadwoven goods, exc. felts:

Production (qtrly.) mil. sq. yd..

FLOOR COVERINGSCarpet, rugs, carpeting (woven, tufted, other),

shipments, quarterly # mil. sq. yds..

APPARELWomen's, misses', juniors' apparel cuttings: t

Coats thous. units-Dresses doSuits (incl pant suits, jumpsuits) doSkirts do ....Slacks, jeans, dungarees, and

jean-cut casual slacks do....Blouses thous. dozen..

5,6832

3 63.7

3 52.6

11.64.6

82.9.31932.3

4,772

260.01,617.2

105.2

191.1413.8

4,009.74,306.2

14.220.7

298.4319.6

105.6

591.87260.31152.65

331.56

1,805.44280.00182.52

1,525.441,033.22

485.36

129.713.1

105.131.1

2.653.24

168.9

1,263.2

23,982174,982

7,458111,162

294,79130,595

5,6491

3 54.8

64.4

11.54.4

78.1.30228.9

4,518

250.41,146.8

5 114.4

213.9399.8

4,160.44,345.6

11.414.0

284.4298.4

5 112.7

684.75282.19169.31

402.56

1,735.70258.18179.23

1,477.52991.03443.03

117.115.696.724.4

4.384.87

191.2

1,273.3

18,416160,488

8,97296,417

276,36433,721

303

59.5

57.4

11.74.6

5.0.2521.8

16.886.0

115.9

113.4

52.0420.8012.19

31.23

169.9123.0015.98

146.90104.8152.37

9.11.17.72.3

4.504.89

249

53.9

55.2

11.64.6

6.0.2992.2

19.391.6

115.6

113.8

57.5223.7714.25

33.75

174.3722.6616.43

151.71106.9353.64

8.81.65.01.9

4.504.67

2490)51.9

51.3

11.54.4

47.5.3014 2.7

1048

25.087.2

114.8

549994

1,025.11,058.3

11.513.3

3170329.0

113.0

59.9723.9514.86

36.02

146.0318.7312.64

127.3087.2643.30

49.54 1.73.31.9

4.504.61

430

329.1

5,27336,1242,489

22,202

72,1127,770

224t1)54.1

52.2

11.54.3

6.0.2992.1

20.592.9

111.9

113.5

56.7422.2014.22

34.54

144.2322.2015.66

122.0381.8640.44

9.21.06.72.2

4.634.88

379

56.5

53.4

11.44.3

6.0.3002.2

22.894.5

112.5

113.9

56.7723.6314.88

33.14

132.0320.4413.64

111.5971.6232.72

8.31.08.62.0

4.754.72

6320)55.4

54.8

11.54.4

4 6.3.2514 2.2

1029

25.4109.4

112.3

55.5926

1,055.11,124.5

11.414.0

2844298.4

114.6

59.9827.3215.64

32.66

123.3718.6012.47

104.7765.7126.73

4 11.2n.o6.71.3

4.504.75

447

304.3

4,23436,510

2,07620,735

69,0887916

6 44861

53.9

55.6

11.34.3

5.8.2882.1

112.4

114.3

10.6.8

8.72.1

4.505.11

6840)52.9

55.4

11.24.2

5.9.2932.2

111.3

112.0

11.11.3

11.32.9

4.384.84

6191

56.3

57.6

11.14.3

*7.2.2894 2.6

1 143

110.9

52.71008

1,069.31,103.8

11.3117

r302.0r311.3

112.2

4 13.7<1.69.03.8

4.104.54

46.6

3100

3,16041,860

2,04824,907

67,6028,801

6102

58.9

61.4

11.14.3

5.9.2962.2

rl!0.9

112.2

10.41.6

13.13.2

3.754.29

672

58.8

63.7

11.14.4

6.0.3002.3

110.8

112.1

8.71.4

10.33.1

3.754.14

233

58.8

64.1

11.04.3

7.8.311

r42.9

110.0

55.8101.2

1,097.311341

8915.8

322.23510

113.1

lj.61.68.33.0

3.654.03

8500)r60.6

67.4

4.3

1.8

111.1

114.3

16.62.0

3.504.05

i»64!3

69.9

110.0

114.9

3.504.10




below, data through 1986 and IT .,methodological notes are as shown in ljnits


Annual

1987 1988

1988


1989


TEXTILE PRODUCTS-Continued

APPAREL— ContinuedMen's apparel cuttings: $t

Suits thous unitsCoats (separate), dress and sport do....Trousers slacks jeans pants etc doShirts, dress and sport thous. doz

Hosiery, shipments thous. doz. pairs,.

1229618,323

7 481 66783756

308,982

1341317',435

428 23185338

322,124 29,404 27,557

34634,473

109 74619 42127,006 32,948 27,475

3 5584,191

942522166225,120 29,503 29,183

40374,281

97 7772372629,277 31,136

TRANSPORTATION EQUIPMENT

AEROSPACE VEHICLESOrders, new (net), total mil $ .

U.S. Government .. . . doPrime contract do

Sales (net), receipts, or billings,total do

U.S. Government do ....Backlog of orders, end of period # do

U.S. Government doAircraft (complete) and parts doEngines ( aircraft) and parts doMissiles, space vehicle systems, engines,

propulsion units, and parts mil $Other related operations (conversions, modi-

fications), products, services mil $Aircraft (complete):

Shipments doExports, commercial do

MOTOR VEHICLES (NEW)Passenger cars:

Factory sales (from U.S. plants):Total thous

Domestic doRetail sales, total, not seas, adj do....

Domestics §. doImports § do

Total, seas. adj. at annual rate milDomestics § . doImports § do

Retail inventories, domestics, end of period: §Not seasonally adjusted thous..Seasonally adjusted do

Inventory-retail sales ratio, domestics §Exports (BuCensus), total do

To Canada doImports (ITC), complete units do

From Canada, total doRegistrations <), total new vehicles do....

Imports, including domesticallysponsored . . . . do

Trucks and buses:Factory sales (from U.S. plants):

Total doDomestic do

Retail sales, domestics:Total, not seasonally adjusted . do

0-10,000 Ibs. GVW do10,001 Ibs. GVW and over do....

Total, seasonally adjusted do....0-10,000 Ibs. GVW do10,001 Ibs. GVW and over do

Retail inventories, domestics, end of period: tNot seasonally adjusted thousSeasonally adjusted.. . do

Exports (BuCensus) doImports (BuCensus), including separate

chassis and bodies doRegistrations <>, new vehicles, excluding buses

not produced on truck chassis thousTruck trailers and chassis, complete (excludes

detachables), shipments number .Van type do

Trailer bodies (detachable), soldseparately .do .

Trailer chassis (detachable), soldseparately. . do

RAILROAD EQUIPMENTFreight cars (new), for domestic use; all

railroads and private car lines (excludesrebuilt cars and cars for export):

Shipments . numberEquipment manufacturers do...

New orders do ...Equipment manufacturers do...

Unfilled orders, end of period doEquipment manufacturers do

Freight cars (revenue), class I railroads(AAR): $Number owned, end of period thous .Capacity (carrying), total, end of month

mil, tons .Average per car tons

5 121 2243 66 264

3 117 4343 110 301

3 68,6323 158 650

3 92 4393 64 4943 15 5213 30 5443 16 930

12 491 77 380

5 7 0855 6 48710,27870813 197

1,6801701

2962765561 88

4 5890'9269

1 10,166J3654

63 8216 3 509

408843786 1

302.3

96791 0154229 27

1 378 19

M964

180,142135 380

438

23 014

13 64513,64518,50418,50467366736

749

63.638501

3 147 1283 67 850

3 143 4213 113 548

3 68 1043 191 518

3 92 3943 87 8653234153 29 0783 17 895

16 019 99971

7 jQ56437

10,63975393099

1,6011 619

26765 12616 184 450 21 191 4

1 10,480J3710

4 1213795

454454*195 1

348.7

999 31 041 624692

1 155 66

'5211

176 158127 534

4931

32086

2252422,52428,87128,8711595315953

725

62.4686 17

1 1968725

3863478636052581067730

1,4311 448

23439332 61304 7589r894r309

240223

3855356 529.1

39193630289

851 6924 11437

7899

r448

126948714

673

2668

733

62.718560

1 0467811

48444288660328310.5743 1

1,3261 492

2446 1139443360742901

329

337318

371 13437

27.43890361 2279

854 6924717 20

75 16

444

1534711 412

670

3478

728

62.368569

1 3149517

6185568305792511027 230

1,4091 566

26765665923488100 5

937

360

349324

34643173

29.03673338 5287

838 4895 221 53

7290

470

1584511 990

922

3 599

56055,6054,4874,487

1610716107

726

62.248578

15392949

6555898385922469.96 930

1,5041 646

2965 1150 11400 1101 5

807

297

375340

371 0339731.4

3845353 9306

945 0972321 80

109 83

410

15 58011 494

310

3 209

724

62.158588

12587814

64859179655424310.17 229

1,6311 663

2868 5048 984092101 0

764

278

351323

35503280

27.03766346 130 5

998 31 003 5'l5 23

97 20

398

14 50010888

483

3001

724

62.278605

1 4762829

58453388261726511.4843,1

1,6011 619

23582440614157

88 9896

317

327303

3592329030.1

37213426

29 4

999 31 041 6

17 91

10789

445

1444110573

526

1 999

78647,86480448,044

1595315953

725

624686 17

774 14 620

616570721512209997 128

1,7361 649

2 84 55 684 40 144 324 8

4 86 0733

258

365338

3268300 1

26.738163493

32 2

1 093 71 072 54 19 23

4 103 34

371

14 14110 137

11 1 789

723

623486 16

1 016 2810

6065457545542019.97 028

1,8101 667

28717455 0237261124

722

252

373343

337 7313 1

24.63652336 6

28 6

1 170 51 109 9

21 60

101 92

374

14 22310559

1 857

721

62198624

1 597 21 320

65458588764224697682 9

1,8381 690

30829465693747999833

283

401366

40523756

29.534923227

26 5

1 197 11 130 0

2335

10361

428

1624711 746

2 180

7 2867,286

1104011,0401970719707

721

622686 34

1 36451241

65158491266724510.87632

1,8361 702

27801658733564102 1

843

282

365334

398 93686

30.3397.0369227 8

1 20891 1358

18 73

7634

427

1639511 854

2 183

715

61818648

139431,104

67261897371026210.37529

1,8441 709

2871.3752 263528109 5

885

293

389361

42183912

30.7362.6334028 6

1 22521 1603

1769

89 64

446

1523410764

3047

714

617786 52

161301 117

612560899641258

99.89 70929

1,845"1732

930627449 67339 1100 5

950

324

383358

3894359.1

30.39351.993242

927 6

1 252 31 2037

1536

8330

477

15 03411 002

r2613

7 8387,8385,6495,649

1639816398

712

61578653

1 414.41,378

84960324510.27528

1,5651554

2.539.042687

830

304

3899361.728.3

379.6351.6280

1 114 41 2082

1066

7485

430

115377 955

1031

'977685

"29111.4

8.3e3.1

1,4501,605

2.3

41033821

28.2432.84041287

1 107812005



September 1989 SURVEY OF CURRENT BUSINESS S-33

FOOTNOTES FOR PAGES S-l THROUGH S-32

General Notes for all Pages:r Revised,p Preliminary,e Estimated,c Corrected.

Page S-lt Revised series. See Tables 2.6 - 2.9 in the July 1989 SURVEY for revised estimates for

1985-88.t Includes inventory valuation and capital consumption adjustments.§ Monthly estimates equal the centered three-month average of personal saving as a

percentage of the centered three-month moving average of disposable personal income.O See note "O" for p. S-2.

Page S-21. Based on data not seasonally adjusted.O Effective Oct. 1987 SURVEY, the industrial production index has been revised back

to Jan. 1985. These revisions are available upon request.# Includes data not shown separately.t Effective Sept. 1988 SURVEY, data have been revised back to January 1982. Revised

data appear in the report "Manufacturing and Trade Inventories and Sales" CB-88-146,available from the Bureau of the Census, Washington, DC 20233.

§ Revised series. Data have been revised back to 1985. Revisions are available uponrequest.

Page S-3# Includes data for items not shown separately.t Revised series. Data have been revised back to 1982. A detailed description of the

changes appear in the report "Manufacturers' Shipments, Inventories, and Orders: 1982-88"M3-l(88), available from the Bureau of the Census, Washington, DC 20233.

t See note "t" for p. S-2.§ See note "§" for p. S-2.

Page S-41. Based on data not seasonally adjusted.# Includes data for items not shown separately.t Includes textile mill products, leather and products, paper and allied products, and

printing and publishing industries; unfilled orders for other nondurable goods industriesare zero.

O For these industries (food and kindred products, tobacco, apparel and other textileproducts, petroleum and coal, chemicals and allied products, and rubber and plastics products)sales are considered equal to new orders.

t See note "t" for p. S-3.

Page S-5@ Compiled by Dun & Bradstreet, Inc.# Includes data for items not shown separately.§ Ratio of prices received to prices paid (parity index),t See note "$" for p. S-4.t In the Feb. and July issues of the SURVEY each year, data for the most recent six to

eight years are subject to revise and are available upon request.O See note "t" for p. S-6.tt See note "t" for p. S-3.

Page S-6§ Effective with the release of the January 1988 index, all producer price indexes previously

expressed on a base of 1967=100, or any other base through December 1981, have beenrebased to 1982=100. Historical data on the new base are available upon request. Forproducer price indexes of individual commodities, see respective commodities in the Industrysection beginning p. S-l9. All indexes subject to revision four months after original publication.

# Includes data for items not shown separately.t Effective with the release of the January 1988 index, all consumer price indexes previously

expressed on a base of 1967=100, or any other base through December 1981, have beenrebased to 1982-84=100. Historical data on the new base are available upon request. Beginningwith January 1987, data are calculated using 1982-84 expenditure patterns and updatedpopulation weights. Additional information regarding these changes is available from theBureau of Labor Statistics, Washington, DC 20212.

t Effective with the Feb. 1989 SURVEY, data have been revised back to 1984 and areavailable upon request.

Page S-71. Computed from cumulative valuation total.2. Index as of Sept. 1, 1989: building, 394.9; construction, 432.5.# Includes data for items not shown separately.§ Data for Sept. and Dec. 1988, and Mar. and June 1989 are for five weeks; other months

four weeks.O Effective Feb. 1989 SURVEY, data for seasonally adjusted housing starts have been

revised back to 1986. Effective Feb. 1988 SURVEY, data for seasonally adjusted housingstarts have been revised back to 1985.These revisions are available upon request.

t Effective May 1989 SURVEY, data for seasonally adjusted building permits have beenrevised back to 1987. Effective May 1988 SURVEY, data for seasonally adjusted building

Address requests for data to:Business Statistics BranchCurrent Business Analysis DivisionBureau of Economic AnalysisU.S. Department of CommerceWashington, D.C. 20230

permits have been revised back to Jan. 1986. These revisions are available upon request.@ Effective July 1989 SURVEY, data have been revised back to 1985. In addition to the

normal revisions to the unadjusted and seasonally adjusted data, some total componentshave been revised back to 1975 due to revised data for the "Telecommunications" category.See note "*" for this page. Effective July 1988 SURVEY, the "Improvements" componentof private residential buildings has been revised back to 1982 to adjust for a change inestimation of the monthly data. Revised data are available from the Construction StatisticsDivision at the Bureau of the Census, Washington, DC 20233.

t Effective July 1989 SURVEY, data have been revised back to 1975 and are availableupon request.

# The "Telephone and telegraph" category has been renamed "Telecommunications"and now includes estimates for television cable construction. Data were revised back to1975.

Page S-81. Advance estimate.O Home mortgage rates (conventional first mortgages) are under money and interest

rates on p. S-l4.§ Data include guaranteed direct loans sold.# Includes data for items not shown separately.@ Effective Oct. 1987 SURVEY, data are for closed mortgage loans of thrift institutions

insured by the Savings Association Insurance Fund (SAIF)—FSLIC-insured institutionsprior to Sept. 1989. Historical data back to 1976 are available upon request.

t Effective April 1989 SURVEY, wholesale trade data have been revised back to Jan.1983. Revised data and a summary of changes appear in the report. Revised Monthly WholesaleTrade Sales and Inventories BW-13-88S, available from the Bureau of the Census, Wash-ington, DC 20233.

t Effective April 1989 SURVEY, retail trade data have been revised. Estimates of retailsales and inventories have been revised back to January 1983. A revision in 1988 revisedsome series back to 1978. Revised data and a summary of changes appear in the reportRevised Monthly Retail Sales and Inventories BR88-R, available from the Bureau of theCensus, Washington, DC 20233.

tt Beginning with data for 1988, data will be reported on a quarterly basis only.

Page S-9I. Advance estimate.# Includes data for items not shown separately.O Effective with the January 1989 SURVEY, the seasonally adjusted labor force series

have been revised back to January 1984. The January 1989 issue of Employment and Earn-ings contains the new seasonal adjustment factors, a description of the current methodology, andrevised data for the most recent 13 months or calendar quarters. Revised monthly data forthe entire 1984-88 revision period are in the February 1989 issue of Employment and Earnings.

t The participation rate is the percent of the civilian noninstitutional population in thecivilian labor force. The employment-population ratio is civilian employment as a percentof the civilian noninstitutional population, 16 years and over.

(£) Data include resident armed forces.t See note "t" for p. S-8.

Page S-10O See note "O" for p. S-9.§ Effective with the June 1988 and 1989 issues of the SURVEY, data have been revised,

respectively, back thru April 1986 and 1987 (not seasonally adjusted) and January 1983and 1984 (seasonally adjusted) to reflect new benchmarks and seasonally adjustments fac-tors. The June issue of Employment and Earnings (for both years) contains a detailed dis-cussion of the effects of these revisions.

Page S-l 1t This series is not seasonally adjusted because the seasonal component is small relative

to the trend-cycle and/or irregular components and consequently cannot be separated withsufficient precision.

O Production and nonsupervisory workers.§ See note"§" for p. S-10.

Page S-121. This series is not seasonally adjusted because the seasonal component is small relative

to the trend-cycle and/or irregular components and consequently cannot be separated withsufficient precision. Use the corresponding unadjusted series.

2. The hourly earnings index has been discontinued.§ See note "§" for p. S-10.O Production and nonsupervisory workers.t Earnings in 1977 dollars reflect changes in purchasing power since 1977 by dividing by

Consumer Price Index. Effective Feb. 1988 SURVEY, this series has been revised back to1983 to reflect new seasonal factors for the CPI-W. Revised data are available upon request.

§§ Wages as of Sept. 1, 1989: Common, $17.93; Skilled, $23.15.t Excludes farm, household, and Federal workers.tt See note "t" for p. S-ll.



Page S-131. Beginning with Jan. 1988 data,, the number of respondents in the bankers acceptance

survey was reduced from 155 to 111 institutions—those with $100 million or more in totalacceptances. The new reporting group accounts for over 90 percent of total acceptancesactivity.

2. Effective December 31, 1987, eight brokers and dealers in commercial paper wereadded to the reporting panel resulting in a series break. End of month figures on the old basisare as follows: All issuers, 352,915; financial companies, 275,907; dealer placed, 103,667;directly placed, 172,240; and nonfinancial companies, 77,008.

3. Average for Dec.4. Pursuant to the 1987 Agricultural Credit Act, the FICBs merged with the FLBs on

July 6, 1988. Loans for the combined FLBs, FLBAs, FICBs, and PCAs for the third andfourth quarter 1988, and first quarter 1989, in millions are: $42,849, $41,438 and $40,337respectively.

5. Effective Feb. 28, 1989, there was a break in the series due to the enlargement of thepanel of reporting dealers to 17 and of reporting direct issuers to 36. End of month figures onthe old basis are as follows: All issuers, 481,734; financial companies, 373,717; dealer placed,172,330; directly placed, 201,387; and nonfinancial companies, 108,017.

t Effective Aug. 1988 SURVEY, free reserves have been restated to correspond with theFederal Reserve's computation, which is as follows: excess reserves, minus borrowings, plusextended credit. Historical data back to 1961 are available upon request.

t Effective Jan. 1988, series revised due to changes in the panel of reporting banks. Thenew reporting panel of 168 banks accounts for about 52 percent of total assets in U.S. officesof domestically-chartered banks. Back data have been estimated for the years 1984-87.

# Includes data for items not shown separately.§ Excludes loans and federal funds transactions with domestic commercial banks and

includes valuation reserves (individual loan items are shown gross; i.e., before deduction ofvaluation reserves).

# New series. Source: The Employment and Training Administration. Covers 50 Statesand the District of Columbia. Only regular benefits are included.

@ Average weekly insured unemployment for 12-month period divided by average monthlycovered employment (lagging 4 full quarters for annual figure and 2 full quarters for monthlyfigure).

** Effective Aug. 1987 SURVEY, data are provided by the Farm Credit Corporation ofAmerica on a quarterly basis. Quarterly data are available back to first quarter 1985, withannual data available back to 1961.

Page S-141. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the

months.2. Weighted by number of loans.3. Beginning Feb. 1988, data temporarily suspended by the Farm Credit Administra-

tion, which is revising the information it collects and amending the reports it distributes.§ Effective Aug. 1989 SURVEY, data have been revised to reflect new benchmark adjust-

ments. In addition, data for 1984 forward include a number of institutions excluded fromearlier data. Effective Apr. 1989 SURVEY, data have been revised to reflect new benchmarkand seasonal adjustments. These revisions are available upon request.

t Effective with May 1989 SURVEY, the consumer installment credit series have beenrevised from 1986 through 1988 to reflect more complete data for most lender groups andnew seasonal factors. Effective Apr. 1988 SURVEY, the consumer installment credit serieshave been revised back to Jan. 1980 to reflect newly available historical information and toincorporate new seasonal factors. These revisions are available upon request.

# Includes data for items not shown separately.O Excludes loans to commercial banks in the U.S.$ Rates on the commercial paper placed for firms whose bond rating is Aa or the equiva-

lent.$$ Courtesy of Metals Week.@@ Average effective rate@ Revised for periods between October 1986 and April 1987. During this interval, out-

standing gold certificates were inadvertently in excess of the gold stock.

Page S-151. Beginning in the first quarter 1987, the universe of manufacturing corporations was

redefined to exclude corporations with less than $250,000 in assets at the time of sampleselection.

2. Beginning Jan. 1989, the primary public offering statistics have been discontinued bythe Securities and Exchange Commission.

t Effective Feb. 1989 SURVEY, the money stock measures and components have beenrevised and are available from the Banking Section of the Division of Research and Statis-tics at the Federal Reserve Board, Washington, D.C. 20551.

$$ Includes ATS and NOW balances at all depository institutions, credit union sharedraft balances, and demand deposits at thrift institutions.

O Overnight (and continuing contract) RP's are those issued by commercial banks tothe nonbank public, and overnight Eurodollars are those issued by Caribbean branches ofmember banks to U.S. nonbank customers.

@ Small time deposits are those issued in amounts of less than $100,000. Large timedeposits are those issued in amounts of $100,000 or more and are net of the holdings ofdomestic banks, thrift institutions, the U.S. Government, money market mutual funds, andforeign banks and official institutions.

# Includes data for items not shown separately.§ Effective with the Mar. 1989 SURVEY, data have been revised back to 1986 and are

available upon request. Effective Apr. 1988 SURVEY, 1987 data have been revised. Revisions forJan. 1987: long-term, 7,486; short-term, 372.

Page S-161. Beginning Aug. 1989, the railroad average was discontinued by Moody's.@ See note "4" for p. S-19 regarding the new commodity classification systems intro-

duced Jan. 1989. Effective with the July 1989 SURVEY, data have been revised back to Jan.1987 for seas. adj. total exports and imports, and back to Jan. 1988 for unadj. totals. Reviseddata for principal SITC commodity groupings and selected countries will be available later.

Effective with the June 1988 SURVEY, total exports and imports have been revised back toJan. 1986. These revisions are available upon request. Data may not equal the sum of thegeographic regions, or commodity groups and principal commodities, because the revisionsto the totals are not reflected in the component items.

t Effective with the June 1988 SURVEY, seasonal adjustment of exports and importswas reintroduced. The monthly data were last adjusted for December 1985. Historical datafrom Jan. 1986 forward are available upon request.

§ Number of issues represents number currently used; the change in number does notaffect the continuity of the series.

$ For bonds due or callable in 10 years or more.# Includes data for items not shown separately.# Series added to the S-pages in May 1989.

Page S-171. Beginning with Jan. 1989 data, undocumented exports to Canada are now included,

resulting in a break with Dec. 1988 data.2. Beginning Jan. 1989, buses are excluded from "Motor vehicles and parts" and included in

"Other manufactured goods," resulting in a break with Dec. 1988 data.@ See note "@" for p. S-16.t See note "t" for p. S-16.# Includes data not shown separately.O Data include undocumented exports to Canada, which are based on official Canadian

import totals.# Series added to the S-pages in May 1989.

Page S-181. Reported annual total; quarterly or monthly revisions are not available.2. For month shown.# Includes data for items not shown separately.§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled

service.t The threshold for Class I railroad status is adjusted annually by the Interstate Com-

merce Commission to compensate for inflation.O Average daily rent per room occupied, no*t scheduled rates.## Data represent entries to a national park for recreational use of the park, its services,

conveniences, and/or facilities.t Before extraordinary and prior period items.@ Changes in these unit value indexes may reflect changes in quality or product mix as

well as price changes.

Page S-191. Reported annual total; monthly or quarterly revisions are not available.2. Less than 500 metric tons.3. Figure is being suppressed because of not meeting Bureau of Census' publication

standards.4. Effective with the Apr. and May 1989 issues of the SURVEY, most foreign trade series

in the "S-Pages" have been converted to metric units. Also, beginning with 1989 data,merchandise trade data are based upon two new commodity classification systems; theInternational Harmonized System and, Revision 3 of the Standard International TradeClassification and, as a result, data may not be directly comparable to 1988 and earlieryears.

5. Effective with the July 1989 SURVEY, data are shown in metric tons.# Includes data for items not shown separately.§ Data are reported on the basis of 100 percent content of the specified material unless

otherwise indicated.$ Data for 1985-86 (and 1984, for inorganic chemical production items) have been revised.

Effective with the Jan. 1989 SURVEY, series for industrial gases have been revised for 1986and 1987. Effective with the Feb. 1989 SURVEY, series for inorganic chemicals and fertil-izer materials have been revised for 1986 and 1987. These revisions are available uponrequest.

O Beginning January, 1986, data are not directly comparable to earlier periods becausethe data represent only companies that have annual revenues over $100 million.

Page S-201. Reported annual total; monthly or quarterly revisions are not available.2. Quarterly data are no longer available. See also note 4 for this page.3. See note 4 for p. S-19.4. Effective with the July 1989 SURVEY, data are shown in metric tons.§ Data are not wholly comparable from year to year because of changes from one classi-

fication to another.O Effective with the Jan. 1989 SURVEY, data for 1986 and 1987 have been revised and

are available upon request.@ Includes less than 500 electric generation customers not shown separately.t Effective with the May 1988 SURVEY, data have been revised back to 1985 and are

available upon request.t Effective with the Apr. 1989 SURVEY, data have been revised back to 1983 and are

available upon request.

Page S-2I1. Previous year's crop. New crop is not reported until Sept. (crop year: Sept. 1-Aug. 31).2. Crop estimate for the year. See also note 13 for this page.3. Stocks as of June 1.4. Stocks as of June 1 and represents previous year's crop; new crop not reported until

June (beginning of new crop year).5. Beginning with Sept. 1, 1988 data, quarterly stock estimates have been reinstated.6. Stock estimates are available once a year 95 June 1 stocks and shown here in the May

column and (as previous year's crop) in the annual column. See also note 13 for this page.


September 1989 SURVEY OF CURRENT BUSINESS S-35

7. Stocks as of Dec. 1.8. See note "§" for p. S-6 regarding a change to a new reference base in 1988.9. Prices are no longer available.10. Based on quotations for fewer than 12 months.11. See note 4 for p. S-19.12. Series has been discontinued.13. Effective with the May 1989 SURVEY, data have been converted to metric units.14. Sept. 1 estimate of the 1989 crop. See also note 13 for this page.§ Excludes pearl barley.@ Quarterly data represent the 3-month periods Dec.-Feb., Mar.-May, June-Aug.,

and Sept. -Nov. Annual data represent Dec.-Nov.t Coverage for 21 selected States, representing approximately 85 percent of U.S. production.

Page S-221. Monthly quotation not available.2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.3. See note "t" for this page.4. See note "$" for this page.5. Series has been discontinued by the source.6. See note 4 for p. S-19.$ Beginning with Sept. 1988 and annual 1988 data, price represents dollars per head and

is not comparable with earlier prices, which represent dollars per 100 pounds.t Effective with the release of 1st Qtr. 1988 data, the import price index for coffee has

been discontinued by BLS and replaced in the SURVEY with the import price index forcoffee and coffee substitutes. The weighting structure used for the import price index reflectsU.S. foreign trade flows based on 1985 data. Indexes, beginning with 2nd Qtr. 1975, areavailable upon request.

Page S-231. Crop estimate for the year.2. Reported annual total; revisions not distributed to the months.3. Data suppressed because they did not meet Census publication standards.4. See note "§" for p. S-6 regarding a change to a new reference base in 1988.5. See note 4 for p. S-19.6. Sept. 1 estimate of 1989 crop.# Totals include data for items not shown separately.0 Effective Oct. 1988 SURVEY, the footwear production series have been revised for

1986 and 1987. These revisions are available upon request.

Page S-241. Reported annual total; monthly revisions are not available.2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.3. Less than 500 tons.4. See note 4 for p. S-19.5. Effective with the July 1989 SURVEY, data have been converted to metric tons.# New series from the American Metal Market. The composite scrap price represents

the average of consumers' buying prices, delivered, at the following markets: Chicago,Pittsburgh, and Philadelphia. Annual and monthly composite price data are available backto January 1982.

Page S-251. Reported annual total; monthly revisions are not available.2. For month shown.3. Effective with Jan. 1989, import data are for consumption; earlier periods of data are

general imports. See also note 4 for p. S-19 regarding the introduction of new classificationsystems.

4. Prior to the July 1989 SURVEY, annual and monthly data for 1984-88 for aluminumimports and exports were shown incorrectly in thousands of short tons. Beginning with theJuly 1989 SURVEY, data for those periods have been converted to thousands of metric tons.

@ Beginning 1987, includes foreign ores.§ Source: Metals Week.

Page S-261. Reported annual total; monthly revisions are not available.2. Less than 50 tons.3. See note 3 for p. S-25.0 Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.@ All data (except annual production figures).reflect GSA remelted zinc and zinc purchased

for direct shipment.$ Source for monthly data: American Bureau of Metal Statistics. Source for annual

data: Bureau of Mines.# Includes data not shown separately.# New series from The Material Handling Institute, Inc. and Cahners Economics. Includes

bookings (new orders) for automatic guided vehicles, automated storage and retrieval sys-tems, below hook lifters, cranes, hoists, monorails, racks, shelving, casters and floor trucks,and conveyors. Annual and quarterly historical data back to 1972 are available upon request.

@@ Beginning Oct. 1986, the Lead price represents North American Mean.

PageS-271. See note "§" for p. S-6 regarding a change to a new reference base in 1988.2. See note 4 for p. S-19.3. Annual total includes revisions not distributed to the months.# Includes data for items not shown separately.§ Includes nonmarketable catalyst coke. See also note "tf'for this page.0 Includes small amounts of "other hydrocarbons and alcohol new supply (field

production)," not shown separately.t Effective with the Oct. 1987 SURVEY, coal production data for 1986 have been revised.

Effective with the May 1988 SURVEY, coal consumption and stocks back through 1986

have been revised. Effective with the Oct. 1988 SURVEY, coal production data for 1987have been revised. These revisions are available upon request.

@ Includes U.S. produced and imported microwave ovens and combination microwaveoven/ranges.

$ "Tractor shovel loaders" includes some front engine mount wheel tractors that hadpreviously been included in "Tractors, wheel, farm, and nonfarm."

ft Effective with the June 1988 and Aug. 1989 issues of the SURVEY, data for 1987 and1988 respectively, have been revised and are available upon request.

$t March, June, September and December are five-week months. All others consist offour weeks.

Page S-281. Reported annual total; revisions not allocated to the months.2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.3. See note 4 for p. S-19.# Includes data for items not shown separately.t Except for price data, see note "f t" for p. S-27.

P(age S-291. Reported annual total; revisions not allocated to the months.2. See note "§" for p. S-6 regarding a change to a new reference base in 1988.3. See note 4 for p. S-19.O Source: American Paper Institute. Total U.S. estimated consumption by all newspaper

users.# Compiled by the American Newspaper Publishers Association.t Effective with the April 1988 SURVEY, the import price index for natural rubber has

been revised. The index is now expressed on a base of 1985== 100. Also new weights based on1985 trade flows have been applied to all data from 1985 onward. Revised data are availableback to 4th qtr. 1983.

Page S-301. Reported annual total; revisions not allocated to the months.2. Data are being withheld to avoid disclosing data from individual firms.3. Data cover five weeks; other months, four weeks.4. Beginning Jan. 1989, sales of industrial plasters are included with building plasters.5. Sept. 1 estimate of the 1989 crop.# Includes data for items not shown separately.O Cumulative ginnings to the end of month indicated.§ Bales of 480 Ibs.t Data for 1987 have been revised and are available upon request.

Page S-311. Less than 500 bales.2. Annual total includes revisions not distributed to the months.3. Average for crop year; Aug. 1-Jul. 31.4. For five weeks; other months four weeks.5. See note "§" for p. S-6 regarding a change to a new reference base in 1988.6. See note 4 for p. S-19.O Based on 480-lb. bales, preliminary price reflects sales as of the 15th; revised price

reflects total quantity purchased and dollars paid for the entire month (revised price includesdiscounts and premiums).

# Beginning 1st Qtr. 1986; quarterly data are estimated by the American TextileManufacturers Institute based on annual data collected by the Bureau of Census.

§ Bales of 480 Ibs..t Beginning 1st Qtr. 1987, data are not comparable with earlier periods. Girls apparel

are now included with women's, misses' and juniors' and boys' apparel are now includedwith men's. Also, some classification changes were made.

Page S-321. Annual total includes revisions not distributed to the months,2. Production of new vehicles (thous. of units) for Aug. 1989: passenger cars, 546; trucks

and buses, 346.3. Data are reported on an annual basis only.4. See note 4 for p. S-19.5. Beginning with January 1987, data include Honda, Nissan, and Toyota passenger cars

produced in U.S. plants.6. Beginning with January 1987, data include Nissan trucks produced in U.S. plants.7. Beginning with 1st qtr. 1987, jeans, jean-cut casual and dungarees are included with

trousers.8. See note "t" for this page.9. Effective with the July 1988 and 1989 issues of the SURVEY, data have been revised

back thru 1985 and 1986, respectively, and are available upon request.10. Data for jumpers are included with dresses to avoid disclosing information for indi-

vidual companies.11. Beginning Jan. 1989, shipments of trailer bodies are included with trailer chassis to

avoid disclosure of data from individual firms.# Total includes backlog for nonrelated products and services and basic research.§ Domestics comprise all cars assembled in the U.S. and cars assembled in Canada and

imported to the U.S. under the provisions of the Automotive Products Trade Act of 1965.Imports comprise all other cars.

0 Courtesy of R.L. Polk & Co.; republication prohibited. Because data for some statesare not available, month-to-month comparisons are not strictly valid.

$ Excludes railroad-owned private refrigerator cars and private line cars.t Effective with the Mar. 1988 SURVEY, retail inventories for trucks and buses have

been restated to exclude captive imports (vehicles manufactured overseas by U.S. affili-ates). These data are available back through 1966.

$$ See note "t" for page S-31.



Index to Current Business StatisticsSections

General:Business indicatorsCommodity pricesConstruction and real estateDomestic tradeLabor force, employment, and earnings..,Finance .

1-55, 6'7, 88,9

9-1313-16

Foreign trade of the United States „ 16-18Transportation and communication 18,19

Industry:Chemicals and allied products 19,20Electric power and gas 20Food and kindred products; tobacco ,. 20-23Leather and products 23Lumber and products 23,24Metals and manufactures 24-27Petroleum, coal, and products 27, 28Pulp, paper, and paper products 28, 29Rubber and rubber products 29Stone, day, and glass products 30Textile products 30-32Transportation equipment „ 32

Disposition of personal income .Distilled spiritsDividend paymentsDrugstores, sales

Footnotes. 32-35

Individual Series

AdvertisingAerospace vehicles...Agricultural loansAir carrier operations..Air conditioners (room) .

...................... 8, 12...................... 32...................... 13...................... 18...................... 27

Aircraft and parts ................................ 4, 5, 32Alcohol, denatured and ethyl ........................ 19Alcoholic beverages ........................ . ..... 8, 20Aluminum ...... . .............................. 25Apparel ............................... 2, 4-6, 8-12, 31, 32Asphalt .................. . .................... 28Automobiles, etc ..................... 2-4, 6, 8, 9, 14, 15, 17, 32

Banking ... ................................... 13, 14Barley ........................................ 21Battery shipments ................................ 27Beef and veal .................................. 22Beverages ..................................... 8, 17, 20Blast furnaces, steel mills .......................... 3-5Bonds, issued, prices, sales yields .................... 15, 16Brass and bronze ................................ 26Brick ........................................ 30Building and construction materials .................... 2, 4, 5Building costs .................................. 7Building permits ... ...... . ....................... 7Business incorporation (new), failures .................. 5Business sales and inventories ....................... 2, 3Butter ....................................... „ 21

Carpets ........ . .............. .Cattle and calves ........... .CementChain-store sales, firms with 1 1 or more storesCheese

312230

921

Chemicals ......................... 2-4, 10-12, 15, 17, 19, 20Cigarettes and cigars ............................. 23Clay products .................................. 2-4, 30Clothing (see apparel)Coal ......................................... 2, 27Cocoa ....................................... 22Coffee ....................................... 22Coke ........................................ 27Combustion, atmosphere, heating equipment ............. 26Communication ................................. 15, 19Construction:

Contracts ................................... 7Costs ...................................... 7Employment, unemployment, hours, earnings ........... 10-12Housing starts ................................ 7New construction put in place ...................... 7

Consumer credit ................................. 14Consumer goods output, index ....................... 1,2Consumer Price Index ............................. 5, 6Copper and copper products ........................ 25, 26Corn ........................................ . 21Cost of living (see Consumer Price Index) ............... 5, 6Cotton, raw and manufactures ........................ 5, 30, 31Credit, commercial bank, consumer .................... 14Crops ...................................... 5, 21-23, 30Crude oil ...................................... 3, 27Currency in circulation ............................. 15

Dairy products .................................. 5, 21Debt, U.S. Government ............................ 14Deflator, PCE .................................. 1Department stores, sales, inventories ................... 9Deposits, bank ............................ . ..... 13, 15Dishwashers and disposers ......................... 27

120

1, 15

Earnings, weekly and hourly 12Eating and drinking places 8, 9Eggs and poultry 5, 22Electric power 2, 20Electrical machinery and equipment 2-5,10-12,15, 27Employee-hours, aggregate, and indexes 11Employment and employment cost 10-12Exports (see also individual commodities) 16-18

Failures, industrial and commercial.Farm prices ,Fats and oilsFederal Government financeFederal Reserve SystemFederal Reserve member banks ...FertilizersFishRooring, hardwoodFlour, wheatFluid power products.

55,6

171413131922242226

Food products 2-6, 8,10-12,15,17,20-23Foreign trade (see also individual commod.) 16-18Freight cars (equipment) 32Fruits and vegetables 5Fuel oil 6, 28Fuels 2, 6,17, 27, 28Furnaces., 27Furniture 2, 6, 8-12

Gas, output, prices, sales, revenues 2,6, 20Gasoline 28Glass and products 30Glycerin 19Gold 14Grains and products 5, 21, 22Grocery stores 9Gypsum and products 30

Hardware stores 8Heating equipment 26Help-wanted advertising index 12Hides and skins 6Hogs 22Home loan banks, outstanding advances 8Home mortgages 8Hotels, motor hotels, and economy hotels 18Hours, average weekly 11Housefurnishings 2, 4-6, 8, 9Household appliances, radios, and television sets 27Housing starts and permits 7

Imports (see also individual commodities) 17,18Income, personal 1Income and employment tax receipts 14Industrial production indexes:

By industry 1,2By market grouping 1,2

Installment credit 14Instruments and related products 2-4,10-12Interest and money rates 14Inventories, manufacturers' and trade 3, 4, 8, 9Inventory-sales ratios 3Iron and steel 2,15, 24, 25

Labor force 9,10Lamb and mutton 22Lead 26Leather and products 2, 6,10-12, 23Livestock 5, 22Loans, real estate, agricultural, bank (see also Consumer credit) 8,13Lubricants 28Lumber and products 2, 6,10-12, 23, 24

Machine tools 26Machinery 2-6,10-12,15,17, 26, 27Manufacturers' sales (or shipments), inventories, orders 3-5Manufacturing employment, unemployment, production workers,

hours, earnings 10-12Manufacturing production indexes 1,2Meat animals and meats 5, 22Medical care 6Metals 2-6, 10-12, 15, 24-26Milk 21Mining 2,10-12Mobile homes, shipments, installment credit 7,14Monetary statistics 15Money and interest rates 14Money supply 15Mortgage applications, loans, rates 8,13,14Motor carriers 18Motor vehicles 2-4, 6, 8, 9,15,17, 32

National parks, visits 18Newsprint 29New York Stock Exchange, selected data 16Nonferrous metals 2, 4, 5,15, 25, 26Oats 21Oils and fats 17Orders, new and unfilled, manufacturers' 4,5Outlays, U.S. Government 14

Paint and paint materials 20Paper and products and pulp 2-4, 6,10-12,15, 28, 29Parity ratio 5Passenger cars 2-4, 6, 8,9,15,17,32Passports issued 18Personal consumption expenditures 1Personal income 1Personal outlays 1Petroleum and products 2-4,10-12,15,17, 27, 28Pig iron 24Plastics and resin materials 20Population 9Pork 22Poultry and eggs 5, 22Price deflator, implicit (PCE) 1Prices (see also individual commodities) 5,6Printing and publishing 2,10-12Private sector employment, hours, earnings 10-12Producer Price Indexes (see also individual commodities) 6Profits, corporate ... = 15Public utilities 1, 2, 7,15,16, 20Pulp and pulpwood 28Purchasing power of the dollar 6

Radio and television 8, 27Railroads 13,16,18, 32Ranges and microwave ovens 27Rayon and acetate 31Real estate 8,13Receipts, U.S. Government 14Refrigerators 27Registrations (new vehicles) 32Rent (housing) 6Retail trade 2,3, 5, 8-12,14,32Rice 21Rubber and products (ind. plastics) 2-4, 6,10-12, 29

Saving, personal 1Savings deposits 13Savings institutions 8,14Securities issued 15Security markets 15,16Services 6,10-12Sheep and lambs 22Shoes and other footwear 23Silver 14Spindle activity, cotton 31Steel and steel manufactures 24, 25Stock market customer financing >. 15Stock prices, yields, sales, etc 16Stone, clay, glass products 2-4, 10-12,15, 30Sugar 23Sulfur 19Sulfuric acid 19Superphosphate 19Synthetic textile products 31

Tea imports 23Telephone carriers 19Television and radio 27Textiles and products 2-4,10-12,15,30-32Tin 26Tires and inner tubes 29Tobacco and manufactures 2-4,10-12,23Tractors 27Trade (retail and wholesale) ;. 2, 3, 5, 8-12,32Transit lines, urban 18Transportation „ 6,10-12,15,16,18Transportation equipment 2-6,10-12,15,17, 32Travel 18Truck trailers 32Trucks 2, 32

Unemployment and insurance 9,10,13U.S. Government bonds 16U.S. Government finance 15Utilities 2, 6, 7,15,16, 20Vacuum cleaners 27Variety stores 9Vegetables and fruits 5

Wages and salaries 1,12Washers and dryers 27Water heaters 27Wheat and wheatflour 21,22Wholesale trade „ 2,3, 5, 8,10-12Wood pulp 28Wool and wool manufactures 31Zinc 26


BEA InformationBEA's economic information is available in publications, on computer tapes, on disk-ettes* and through a variety of other products and services. Most of these are describedin A (fcer*a Guide to BEA Information. For a copy, send a self-addressed stampedenvelope (81/2 by 11 inches, with 76 cents postage) to Public Information Office, Bureauof Economic Analysis, U.S. Department of Commerce, Washington, DC 20230,

Available From GPO

TO 0MDBR: The GPO publications listed below must be orderedfrom; Superintendent of Documents, U.S. Government PrintingOffice, Washington, DC 20402* Payment may be by check (madepayable to Superintendent of Documents) or charged to a GPOdeposit account number, VISA, or MasterCard. To order by phone:(202) 783-3238; by fax (202) 275-0019.

SOBVEY o# COKBEMT BUSINESS, Contains estimates and analyses of U.S.economic activity. Features include a review of current economic develop-ments; article^ pertaining to BEA's work on the national, regional, andinternational economic accounts and related topics; quarterly nationalincome and product accounts tables; and 36 pages of tables that presentover 1,900 major economic series obtained from other public and privatesources* Monthly. Annual subscription: $18.00 second class mail, $43.00first class mail. Single copy: $6.00.

Business Statistics: 198& (1987) Provides monthly or quarterly datafor 1983-66 and annual data for 1961 86 for series that appear in theStmviY OF CtfiiBEM'r BOTNISS, Also contains definitions of terms, sources ofdata, and methods of compilation. 325 pages, $16.00 (GPO StockNo. OQ&*010-00181-0),

Business Conditions Digest. Contains tables and charts for 300series/including business cycle indicators and other series that helpevaluate business conditions. Features tbie composite indexes of leading,coincident, and lagging indicators. Also included are cyclical comparisoncharts and data sources. Monthly. $4.00 single copy; $44.00 per year*

The National Income and Product Accounts of the UnitedStates, 1929-82* Statistical Tables. (1986) Contains detailed estimatesof the national income and product accounts for 1920-82 from the compre-hensive revision released in 1985. Also includes definitions of the majorcomponents of the aecourits and of the major sectors of the economy. 442pages, $23.00 (GPO Stock No. 003-010-00174-7).

BBA Methodology Paper No* 1: Introduction to National Eco-nomic Accounting. (1985) Introduces the concepts of the nationalincome and product accounts by placing these accounts within the frame-work of national economic accounting. Shows how the national incomeand product accounts, capital finance accounts, and Input-output ac-counts—the major branches of national economic accounting in theUnited States—are derived from the conventional accounting state-ments. 19 pages. $1.25 (GPO StockNo. 003-010-00158-5).

BEA Methodology Paper No, 2i Corporate Profits: Profits Be-fore Tax, Profits Tax Liability* and Dividends. (1985) Describes theconcepts, sources, and methods of the corporate profits components of thenational income and product accounts. 61 pages $2.50 (GPO Stock No.003,010-00143-7),

BEA Methodology Paper No* 3; Foreign Transactions. (1987) De-scribes the preparation of estimates in the national income and productaccounts (NIPA's) of net exports (both current- and constant-dollar),transfer payments to foreigners, capital grants received by the XJnitedStates, interest paid by Government to foreigners, and net foreign invest-ment. Also describes the relationship between foreign transactions esti-mates in the NIPA's and those in the balance of payments accounts. 52pages. $2.75 (GPO Stock No. 003-010-00178-0).

BBA Metnodology Paper No* 4: CrNP: An Overview of SourceData and Estimating Methods. (1987) Provides basic informationabout GNP, including the conceptual basis for the account that presentsGNP, definitions of each of the components on the income and productside of that account, and a summary, presented in tabular form, of thesource data and methods used in preparing estimates of current- andconstant-dollar GNP. Also provides an annotated bibliography, with adirectory, of the more than 50 items over the last decade that providedmethodological information about GNP. 36 pages, $2.00 (GPO Stock No.003-010-00179-8),

BEA Methodology Paper No. 5: Government Transactions.(1988) Presents the conceptual basis and framework of governmenttransactions in the national income and product accounts; describes thepresentations of the estimates; and delineates the sources and methodsused to prepare estimates of Federal transactions and of State and localtransactions. 112 pages. $5.50 (GPO Stock No, 003*010-00187-9).

Index of Items Appearing in the National Income and ProductAccounts Tables. (1987) Indexes general subject areas as well as de-tailed line items in the national income and product accounts tables. 18pages. $1.25 (GPO StockNo, 003-010-00180-1).

Fixed Reproducible Tangible Wealth in the United States,10215*85* (1987) Contains annual estimates of the stock of privatelyowned and government-owned durable equipment and structures and ofdurable goods owned by consumers in the United States for 1926-85,Estimates are for fixed nonresidential private capital by major industrygroup (farm, manufacturing, and nonfarm nonmanufactuiing), for resi-dential capital by tenure group (owner-occupied and tenant-occupied), forgovernment-owned fixed capital by type of government (Federal andState and local), and for. 11 types of durable goods owned by consumers.400 pages. $18.00 (GPO Stock No. 003-010-00177-1).

Local Area Personal Income, 1981-86. (1088) Contains estimates ofpersonal income by major type of payment and earnings by major indus-try, population, and total and per capita personal income for regions,States, counties, and metropolitan areas.

YoL 1* Summary; Regions, States, and Metropolitan Areas, Esti-mates for the United States, regions, States, and metropolitan areas,Also contains county definitions of metropolitan areas, a detaileddescription of sources and methods, and samples of tables available.254 pages. $18.00 (GPO Stock No. 003-010-00182-3).

Vol 2. NewEngland, Mideast, and Great taketBegions. (CT, BE,DC, IL, IN, ME, MD, MA, MI, NH, NJ, NY, OH, PA, KI, Yf, W!) 276pages. $14,00 (GPO Stock No. 003-010-00183-6).

Vol. 3, Plains Region* (IA, KS? MN, MO, HE, NB, SB) 190 pages.$11,00 (GPO Stock No. 003-010-00184-4).

VoL 4* Southeast Region. (AL, AK, PL, GA, KT, LA, MS, NC, SO, TN,YA, WV) 326 pages. $16.00 (GPO StockNo. 003-010-00185-2).

Yol. 5. Southwest, Rocky Mountain, and Far West Regions andAIaskaandHawait(AK, AZ,CA, CO, HI,1B,MT,NV,NM, 0K,OB,TX, UT, WA, WY) 278 pages.$14.00 (GPO StockNo 003-010-00186-1).

Foreign Direct Investment in the United States: 1987 Bench*mark Survey, Preliminary Results. (1989) Presents preliminary re-sults of BEA's 1987 benchmark survey of foreign direct investment in theUnited States* Contains information on the financial structure andoperations of U.S, affiliates of foreign direct investors in 1987, Data areclassified by industry of U.S. affiliate, by country and industry of ultimatebeneficial owner, and, for selected data, by State. 100 pages. $5.00 (GPOStockNo. 003-010-00188-7).

Foreign Direct Investment in the United States: Operations ofU»S. Affiliates of Foreign Companies, Revised 1986 Estimates,(1989) Contains information on the financial structure and operations ofnonbank U.S. affiliates of foreign direct investors, Data are classified byindustry of U.S. affiliate, by country and industry of ultimate beneficialowner, and, for selected data, by State. 160 pages. $8.25 (GPO Stock No.003-010-00190-9),

U.S. Direct Investment Abroad: Operations of U.S. ParentCompanies and Their Foreign Affiliates. (1989) Presents results ofBEA's annual survey of the worldwide operations of U.S. Multinationalcompanies. Contains information on the financial structure and opera-tions of both U.S. parent companies and their foreign affiliates. Data areclassified by country and industry of foreign affiliate and by indsutry ofU.S. parent 80 pages, $4,25 each. Preliminary 1987 Istimates: GPOStock No. 003*010-00191-7; Revised 1986 Estimates; 0PO Stock No,003-010-00189-5.


UNITED STATESGOVERNMENT PRINTING OFFICE

SUPERINTENDENT OF DOCUMENTS

WASHINGTON, DC 20402

OFFICIAL BUSINESS

Penalty for Private Use, $300

SECOND CLASS MAIL

POSTAGE AND FEES PAIDU.S. GOVERNMENT PRINTING OFFICE

USPS Pub. No. 337-790

1989 RELEASE DATES FOR BEA ESTIMATES

Subject ReleaseDate*

Subject ReleaseDate*

State Personal Income, 3d quarter 1988 , Jan. 24Gross National Product, 4th quarter 1988 (advance) Jan. 27Personal Income and Outlays, December 1988 Jan. 30

Composite Indexes of Leading, Coincident, and Lagging Indica- Feb. 1tors, December 1988.

Gross National Product, 4th quarter 1988 (preliminary) Feb. 28Merchandise Trade (balance of payments basis), 4th quarter 1988 Feb. 28

Personal Income and Outlays, January 1989 Mar. 1Composite Indexes of Leading, Coincident, and Lagging Indica- Mar. 3

tors, January 1989.Summary of International Transactions, 4th quarter 1988Gross National Product, 4th quarter 1988 (final)Corporate Profits, 4th quarter 1988Personal Income and Outlays, February 1989Composite Indexes of Leading, Coincident, and Lagging Indica-

tors, February 1989.

State Personal Income, 4th quarter 1988 and Per Capita Personal Apr. 20Income, 1988 (preliminary).

Gross National Product, 1st quarter 1989 (advance) Apr. 26Corporate Profits, 4th quarter 1988 (revised) Apr. 26Personal Income and Outlays, March 1989 Apr. 27Composite Indexes of Leading, Coincident, and Lagging Indica- Apr. 28

tors, March 1989.

Mar. 14Mar. 23Mar. 23Mar. 24Mar. 29

Metropolitan Area Personal Income, 1987Gross National Product, 1st quarter 1989 (preliminary)Corporate Profits, 1st quarter 1989Merchandise Trade (balance of payments basis), 1st quarter 1989Personal Income and Outlays, April 1989Composite Indexes of Leading, Coincident, and Lagging Indica-

tors, April 1989.

Summary of International Transactions, 1st quarter 1989Gross National Product, 1st quarter 1989 (final)Corporate Profits, 1st quarter 1989 (revised)Personal Income and Outlays, May 1989Composite Indexes of Leading, Coincident, and Lagging Indica-

tors, May 1989.

May 4May 25May 25May 26May 26May 31

June 13June 22June 22June 23June 28

State Personal Income, 1st quarter 1989 July 20Gross National Product, 2d quarter 1989 (advance) July 27Personal Income and Outlays, June 1989 July 28

Composite Indexes of Leading, Coincident, and Lagging Indica- Aug. 3tors, June 1989.

State Per Capita Personal Income, 1988 (revised) Aug. 23Merchandise Trade (balance of payments basis), 2d quarter 1989 Aug. 28Gross National Product, 2d quarter 1989 (preliminary) Aug. 29Corporate Profits, 2d quarter 1989 Aug. 29Personal Income and Outlays, July 1989 Aug. 30

Composite Indexes of Leading, Coincident, and Lagging Indica- Sept. 1tors, July 1989.

Summary of International Transactions, 2d quarter 1989 Sept. 12Gross National Product, 2d quarter 1989 (final) Sept. 21Corporate Profits, 2d quarter 1989 (revised) Sept. 21Personal Income and Outlays, August 1989 Sept. 22Composite Indexes of Leading, Coincident, and Lagging Indica- Sept. 29

tors, August 1989.

State Personal Income, 2d quarter 1989 Oct. 19Gross National Product, 3d quarter 1989 (advance) Oct. 26Personal Income and Outlays, September 1989 Oct. 27Composite Indexes of Leading, Coincident, and Lagging Indica- Oct. 31

tors, September 1989.

Merchandise Trade (balance of payments basis), 3d quarter 1989 Nov. 28Gross National Product, 3d quarter 1989 (preliminary) Nov. 29Corporate Profits, 3d quarter 1989 Nov. 29Personal Income and Outlays, October 1989 Nov. 30

Composite Indexes of Leading, Coincident, and Lagging Indica- Dec. 1tors, October 1989.

Summary of International Transactions, 3d quarter 1989 Dec. 13Gross National Product, 3d quarter 1989 (final) Dec. 20Corporate Profits, 3d quarter 1989 (revised) Dec. 20Personal Income and Outlays, November 1989 Dec. 21Composite Indexes of Leading, Coincident, and Lagging Indica- Dec. 29

tors, November 1989.

! These are target dates and are subject to revision.For information, call (202) 523-0777, Bureau of Economic

Analysis, U.S. Department of Commerce.
