Survey of Current Business June 1984SURVEY OF CURRENT BUSINESS June 1984 tion in investment was in single-family housing units. • Inventories accumulated at a sub-stantial rate,

JUNE 1984 / VOLUME €4 NUMBER

OP

CONTENTS

THE BUSINESS SITUATION 1

National Income and Product Accounts Tables 5Reconciliation and Other Special Tables 16

Improved Adjustments for Misreporting ofTax Return Information Used to Estimate

the National Income and Product Accounts, 1977 17

Plant and Equipment Expenditures,the Four Quarters of 1984 26

Plant and Equipment Expenditures by Business forPollution Abatement, 1983 and Planned 1984 31

ILS. International Transactions, First Quarter 1984 35

The International Investment Positionof the United States in 1983 74

*Constant-Dollar Inventories, Sales, and

Inventory-Sales Ratios for Manufacturing and Trade 77

Subject Guide 79

CURRENT BUSINESS STATISTICSGeneral SI

Industry S19

Footnotes S33Subject Index (Inside Back Cover)

U*S. ofMalcolm Baldrige / SecretarySidney L. Jones / Under Secretary

for Economic Affairs

af Ee0m0niie AnalysisGeorge Jaszi / Director

Allan EL Young / Deputy Director

Carol S. Carson / Editor-in-Chief,Survey of Current BusinessManuscript Editor: Dannelet A. GrosvenorManaging Editor: Patti A. Trujillo

Staff Contributors to This Issue: Ldrna M. Aldrich, Leo M.Bernstein, Douglas R. Fox, Russell C. Krueger, J. StevenLandefeld, John Mon, Robert P. Parker, Kenneth A. Pe-trick, William J. Russo, Jr., Gary L. Rutledge, Russell B.Scholl, Eugene P. Seskin

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the BUSINESS SITUATION

Ecor)NOMIC activity and prices bothincreased less in the second quarterthan in the first, according to the"flash" estimates. Real GNP in-creased at an annual rate of 5Vz per-cent, compared with 9l/2 percent inthe first quarter, and the GNP fixed-weighted price index increased 3Vfepercent, compared with 5 percent inthe first quarter (table I).1

The deceleration in real GNP canbe traced to inventories. After a posi-tive $22 billion contribution to thechange in real GNP in the first quar-ter, inventories contributed negative-ly to the change in the second.

Total final sales accelerated toabout double the first-quarter rate of4 percent. The total includes the in-ventory transactions of the Commodi-ty Credit Corporation (COG). Thesetransactions, largely reflecting thetransfer of crops to farmers under the

1. Quarterly estimates in the national income andproduct accounts are expressed at seasonally adjustedannual rates, and quarterly changes in them are dif-ferences between these rates. Quarter-to-quarter per-cent changes are annualized. Real, or constant-dollar,estimates are expressed in 1972 dollars.

The procedures used to prepare the "flash" esti-mates—that is, estimates prepared 15 days before theend of the quarter—are the same as those used to pre-pare the estimates released after the end of the quar-ter. However, the source data that are available arelimited to only 1 or 2 months of the quarter, and, insome cases, are preliminary. BEA makes projections ofthe missing source data. The major source data thatare available are: For personal consumption expendi-tures (PCE), April and May retail sales, unit sales ofnew autos through the first 10 days of June, and salesof new trucks for April and May; for nonresidentialfixed investment, the same data for autos and trucksas for PCE, April construction put in place, Aprilmanufacturers' shipments of equipment, and businessinvestment plans for the quarter; for residential in-vestment, April construction put in place, and Aprilhousing starts; for change in business inventories,April book values for manufacturing and trade, andunit auto inventories for April and May; for net ex-ports of goods and services, April merchandise trade;for government purchases of goods and services, Feder-al unified budget outlays for April, State and localconstruction put in place for April, and State andlocal employment for April and May; and for GNPprices, the Consumer Price Index for April, and theProducer Price Index for April.

payment-in-kind (PIK) program, helddown the increase in final sales in thefirst (and also the fourth) quarter, butadded to it in the second. Final salesexcluding CCC transactions increased5 percent in the first quarter andabout 7 percent in the second. (Forquarters in which PIK transactionsare large, this variant of final sales ismore useful in assessing the underly-ing strength of demand than is totalfinal sales.) The acceleration waspartly attributable to net exports,which declined less in the secondquarter than in the first. Final salesto domestic purchasers (also adjustedto exclude the CCC) increased onlyslightly more than the TVk-percentrate in the first quarter. As indicatedin the following highlights of second-quarter developments in real GNP,prices, and personal income, the evi-dence available in mid-June suggeststhat most other major components ofGNP registered changes similar tothose in the first quarter.

• Personal consumption expendi-tures increased at about the samestrong rate—6l/2 percent—as in thefirst quarter. Durable goods purchasesincreased less than in the first quar-ter, largely reflecting the pattern ofmotor vehicle sales. As discussed laterin the "Business Situation," auto

sales changed little after a verystrong increase, but truck salesstrengthened. Purchases of both non-durable goods and services were upmore than in the first quarter. Innondurables, food increased after adecline; in services, the pickup waslargely in net foreign travel.

• Nonresidential fixed investmentincreased slightly more than the 16-percent rate in the first quarter.Structures again were up strongly;the second-quarter strength was incommercial buildings and in publicutilities. Producers' durable equip-ment, with a widespread increase,was up more than in the first quarter.As discussed in the article on theBEA plant and equipment expendi-tures survey, the strength of invest-ment in recent quarters and the in-crease planned for the rest of 1984are consistent with favorable develop-ments in a number of investment in-dicators.

• Residential investment increasedless than in the first quarter. In thefirst quarter, when residential invest-ment increased 26V2 percent, housingstarts had averaged 1.96 million (sea-sonally adjusted annual rate). InApril and May, they averaged 1.89million. Reflecting the pattern ofhousing starts, most of the decelera-

Table 1.—GNP and GNP Prices[Levels at seasonally adjusted annual rates; percent changes at annual rates]

Current-dollar GNP (billions of dollars):LevelPercent change from preceding quarter

Real GNP (billions of 1972 dollars):LevelPercent change from preceding quarter

GNP fixed-weighted price index (index, 1972=100):LevelPercent change from preceding quarter

GNP implicit price deflator (index, 1972=100):LevelPercent change from preceding quarter

19

III

33622115

1 553.476

225547

216.4436

83

IV

3436291

1,572.550

22784.2

218.5339

19

I

3550113.9

1,609.397

23054.9

220.6039

84

II

36246' 87

1,631.657

232535

222.1528

SURVEY OF CURRENT BUSINESS June 1984

tion in investment was in single-family housing units.

• Inventories accumulated at a sub-stantial rate, but less than in the firstquarter. Accordingly, they contribut-ed negatively to the change in realGNP; in the first quarter, a step-up inthe rate of accumulation had contrib-uted a positive $22 billion. Motor ve-hicle inventories—the only part of in-ventories for which information aboutsecond-quarter developments is rea-sonably complete—were down sharp-ly. Only fragmentary information isavailable about farm inventories; itappears that accumulation was sub-stantial, but less than the $8% billionrate in the first quarter. In contrastto the preceding two quarters, thetransfer of crops to farmers underPIK—which appears in the nationalincome and product accounts as farminventory accumulation—was small,because the PIK program was beingphased out. However, other farm in-ventories increased after 2 years ofrunoff. Nonfarm inventories otherthan motor vehicles appear to haveregistered substantial accumulation,probably somewhat more than the$17 ¥2 billion rate in the first quarter.

• For net exports, limited evidencesuggests a decline roughly one-halfthe size of the $10 Vk billion first-quar-ter decline. Both exports and importsincreased in the second quarter, butthe increase in imports was larger.Imports continued to reflect the U.S.economic expansion and the strengthof the dollar.

• Government purchases increasedsharply after a $1V2 billion decline inthe first quarter. In the first quarter,CCC transactions—largely PIK—haddeclined $4 billion, more than ac-counting for the decline in Federalpurchases. In the second quarter,with the phasing out of PIK, thesetransactions accounted for a substan-tial increase. Other Federal nonde-fense purchases again changed little,and defense purchases increasedsomewhat more than in the firstquarter. State and local purchases in-creased moderately in both quarters,mainly due to increases in purchasesof structures.

• In the GNP fixed-weighted priceindex, the deceleration of about ll/zpercentage points was largely due tofood prices. In the first quarter, pricesof the food components of GNP hadincreased 11V2 percent; in the second

quarter, the increase was only 1 or 2percent. The effect of a Federal payraise, which had added 0.6 percentagepoint to the first-quarter increase inthe GNP price index, accounted forthe rest of the deceleration.

• Personal income increased about$53 billion, following an extraordinar-ily large—$91 billion—increase in thefirst quarter. The deceleration largelyreflected Federal subsidy payments to

CHART 1

Retail Sales of New Passenger CarsMillion units12

11

10

7 1 i i ..'»" I \\\"'..1 ...i i i I t i

LARGE; DOMESTIC ;C&RS

o r V i i t I T t ..I i \ t I i r i i i

rjSMALL DOMiSTtC- €Af&:AMD IMPORTED £ARS

1980 1981 1982 1983 1984

Seasonally Adjusted at Annual Rates

NOTE.—Data for the most recent quarter are projected.Data: Motor Vehicle Manufacturers Association of the United States,Inc. and Ward's Automotive Reports; seasonal adjustment by BEA.

U.S. Department of Commerce, Bureau of Economic Analysis 84-6-1

farmers. These subsidies, primarilyunder the PIK program, had added$10 % billion to the change in farmproprietors' income in the first quar-ter; their winding down subtractedabout twice that much in the second.The remaining major components ofpersonal income registered increasesabout in line with those in the firstquarter: Personal interest income andtransfer payments were up a littlemore; wage and salary disbursementsand nonfarm proprietors' incomewere up a little less. Personal contri-butions for social insurance, whichare subtracted in deriving the person-al income total, increased less than inthe first quarter, when they had beenboosted by several legislated changesin social security.

The deceleration in personalincome carried through to disposableincome; personal taxes were up aboutthe same in both quarters. Despite aslowing in price increases, real dispos-able income increased only about one-half as much as the 10-percent rate inthe first quarter. The increase in per-sonal outlays exceeded that in dispos-able income, so personal saving de-clined. The saving rate fell about one-half percentage point from 5.9 per-cent in the first quarter.

Motor vehiclesReal motor vehicle output declined

about $6 Ms billion in the second quar-ter, following a $5x/2 billion increasein the first. The swing was more thanaccounted for by auto output. Sales ofautos changed little after a verystrong increase in the first quarter,and inventories fell after an increase.Truck output was up strongly for thesixth consecutive quarter. Sales in-creased considerably more than in thefirst quarter; inventories increasedless than in the first quarter.

Unit sales of new cars steadied atabout 10.6 million (seasonally adjust-ed annual rate) in the second quarter,following sharp increases in the pre-ceding two quarters (chart 1). Theslowing growth in disposable income,increases in interest rates on con-sumer loans, and shortages in sup-plies of some models contributed tothe flattening of sales.

Sales of imported cars declinedslightly to about 2.2 million from 2.3million in the first quarter, and theirmarket share slipped to 21 percent

June 1984 SURVEY OF CURRENT BUSINESS

Table 2.—Revisions in Selected Component Series of the NIPA's, First Quarter of 1984

GNP

Personal consumption expendituresNonresidential fixed investment .. . .Residential investmentChange in business inventoriesNet exportsGovernment purchases

National income

Compensation of employeesCorporate profits with inventory valuation and capital consumption

adjustmentsOther ..

Personal income ....

GNP

Personal consumption expendituresNonresidential fixed investmentResidential investmentChange in business inventoriesNet exportsGovernment purchases

GNP implicit price deflatorGNP fixed-weighted price indexGNP chain price index

Seasonally adjusted at annualrates

45-dayestimate

75-dayestimate

Revi-sion

Billions of current dollars

3,541.6

2,287.8384.4147.369.3

-54.6707.5

2,878.4

2,113.4

277.5487.5

2,925.4

3,550.1

2,286.2385.7147.871.0

-48.2707.6

2,883.3

2,113.4

281.6488.2

2,926.2

8.5

-1.61.3.5

1.76.4.1

4.9

0

4.1.7

.8

Billions of constant (1972) dollars

1,606.0

1,049.6187.059.130.1

-10.3290.7

1,609.3

1,048.3187.659.230.7

-7.5291.0

Index numbers, 1972

220.52230.4

220.60230.5

3.3

-1.3.6.1.6

2.8.3

=100!

.08

.1

Percent changefrom preceding

quarter atannual rates

45-dayesti-mate

12.8

10.611.526.7

4.9

16.2

11.5

14.740.7

13.3

8.8

6.914.625.7

-2.2

3.74.84.6

75-dayesti-mate

13.9

10.313.128.6

5.0

17.0

11.5

21.641.6

13.5

9.7

6.416.126.3

-1.7

3.94.94.7

1. Not at annual rates.NOTE.—For the first quarter of 1984, the following revised or additional major source data became available: For personal

consumption expenditures, revised retail sales for March, consumer share of new car purchases for February, and consumption ofelectricity for March; for nonresidential fixed investment, revised manufacturers' shipments of equipment for March, revisedconstruction put in place for March, and business share of new car purchases for February; for residential investment, revisedconstruction put in place for March, and residential alterations and repairs for the quarter; for change in business inventories,revised book values for manufacturing and trade for March; for net exports of goods and services, revised merchandise trade forthe quarter, and revised service receipts for the quarter; for government purchases of goods and services, revised construction putin place for March; for wages and salaries, revised employment, average hourly earnings, and average weekly hours for March;for net interest, financial assets held by households for the quarter, and revised net interest received from abroad for the quarter;for corporate profits, revised domestic book profits for the quarter, and revised profits from the rest of the world for the quarter;and for GNP prices, revised residential housing prices for the quarter.

from 22 percent. A weakness in Japa-nese car sales in the beginning of thequarter probably reflected supplyshortages; several manufacturers hadreduce^ shipments to the UnitedStates to comply with the March 31cutoff of the voluntary quota agree-ment.

Sales of domestic cars increasedslightly to about 8.3 million from 8.2million in the first quarter. A step-upin subcompact car sales more than ac-counted for the increase. Compact carand intermediate car sales changedlittle, and full-size and luxury carsales declined slightly. Sales of somedomestic models may have been con-strained by shortages, particularlytoward the end of the quarter.

Domestic car production dropped to7.2 million (seasonally adjustedannual rate) in the second quarterfrom 8.9 million in the first. Part ofthe drop was due to shutdowns ofthree assembly plants that had been

producing rear-wheel drive cars. Afterextensive remodeling and retooling,two of these plants will produce front-wheel drive cars, and the third willproduce small vans.

Domestic car inventories fell sharp-ly to 1.43 million (seasonally adjusted)in May from 1.61 million in March,and a further reduction appearslikely in June. The ratio of invento-ries to sales fell from 2.3 in the firstquarter to below 2.0, the ratio gener-ally considered desirable by the indus-try. Further, supplies of some individ-ual models are much tighter. Short-ages probably will persist well intothe third quarter.

Unit sales of new trucks increasedto about 4.2 million (seasonally adjust-ed annual rate) from 3.8 million inthe first quarter. Both consumer andbusiness purchases strengthened.Sales of light domestic trucks in-creased strongly to about 3.4 millionin the second quarter, their highest

level in more than 5 years. Sales of"other" domestic trucks were upsharply to about 0.29 million. Import-ed truck sales changed little from 0.55million in the first quarter. Despiteanother substantial increase in pro-duction, inventories declined in thesecond quarter.

First-quarter corporate profits

Profits from current production—profits with inventory valuation andcapital consumption adjustments—in-creased $13% billion in the first quar-ter, to $281 % billion, following a $20billion increase in the fourth quarter.The first-quarter estimate is $4 billionhigher than the preliminary one pub-lished a month ago. Domestic profitsof nonfinancial corporations and theforeign component of profits wereboth revised up $2% billion; domesticprofits of financial corporations wererevised down by $% billion.

Domestic profits of nonfinancialcorporations contributed most of thefirst-quarter increase in profits of do-mestic corporations, accounting for$12% billion out of the $13 billion in-crease. The increase in nonfinancialprofits resulted from increases in bothconstant-dollar output and in unitprofits. The latter, in turn, was due tolarger increases in unit prices than inunit costs.

Profits before tax—profits withoutinventory valuation adjustment (IVA)and capital consumption adjustment(CCAdj)—increased $16 billion in thefirst quarter, to $244% billion. Thisincrease exceeded the increase inprofits from current production by$2% billion, because the changes inthe two adjustments reduce the latterby that amount (see accompanyingtabulation). In contrast, in the fourthquarter, when the sum of the changesin the two adjustments had been$20% billion, profits before tax haddeclined slightly, while profits fromcurrent production had increased $20billion.

[Change from preceding quarter; billions of dollars]

Adjustments

IVA

CCAdj

II

28

89

11.7

1983

III

4.3

77

12.0

IV

20.6

120

8.6

1984

I

-2.6

62

3.6

SURVEY OF CURRENT BUSINESS June 1984

The adjustments convert the costsof inventories and depreciation re-ported by businesses into those usedin the national income and productaccounts. The IVA declined from — $6billion to — $12 Vk billion in the firstquarter, reflecting larger increases ininventory prices in the first quarterthan in the fourth. An increase of$3V2 billion in the CCAdj was largelydue to provisions of the Economic Re-covery Tax Act (ERTA) that allowedthe use of shorter service lives for thedepreciation of capital.

Disposition of profits before tax.—Corporate profits tax liability in-creased $7V2 billion following an in-crease of $V2 billion. Dividends wereup $2 billion and undistributed prof-its, $6V2 billion. Compared with year-earlier levels, tax liability was up 51percent, dividends were up 9x/2 per-cent, and undistributed profits wereup 100 percent. Although economic

recovery and expansion raised profitsand thus tax liability, ERTA helpedkeep the tax liability lower than itwould have been under previous taxlaws.

Profits by industry.—Profits withthe IVA but without the CCAdj—thevariant of profits available by indus-try—increased $10 billion in the firstquarter, following an $11 billion in-crease in the fourth. While profits ofdomestic financial industries were uponly slightly, those of domestic nonfi-nancial industries increased $9 bil-lion, following an increase of $14 bil-lion. Manufacturing profits accountedfor nearly one-half of the first-quarterincrease in nonfinancial industries'profits. A decline in profits of nondur-able goods manufacturers partlyoffset widespread increases in profitsof durable goods manufacturers.Within durables, motor vehicles ac-counted for more than one-half the

gains. Within nondurables, a declinein profits of manufacturers of petrole-um products more than accounted forthe decline in total profits.

Trade profits increased $1 billion,following a $3V2 billion increase; bothwholesale and retail trade profits reg-istered increases. Within retail trade,declines in profits of food stores andauto dealers were more than offset byincreases in profits of general mer-chandisers and other retailers. Trans-portation profits were up, primarilybecause airlines continued to cuttheir losses.

First-quarter NIPA revisions

The 75-day revisions of the nationalincome and product accounts esti-mates for the first quarter of 1984 areshown in table 2.

NOTE.—Revised estimates of the national income andproduct accounts for the last 3 years will be presented inthe July issue of the SURVEY OF CURRENT BUSINESS. Theseestimates will incorporate new source data and updatedseasonal adjustment factors.


National Income and Product Accounts Tables

New estimates in this issue: First quarter 1984, revised.The abbreviations used in the tables are: CCAdj Capital consumption adjustment

IVA Inventory valuation adjustmentNIPA's National income and product accountsp Preliminary

Revised

The NIPA estimates for 1929-76 are in The National Income and Product Accounts of the United States, 1929-76: Statistical Tables (StockNo. 003-010-00101-1, price $10.00). Estimates for 1977-79 and corrections for earlier years are in the July 1982 SURVEY; estimates for 1980-82and corrections for earlier years are in the July 1983 SURVEY. Summary NIPA Series, 1950-82, are in the October 1983 SURVEY. These publica-tions are available from the Superintendent of Documents and Commerce Department District Offices; see addresses inside front cover.

Table 1.1-1.2.—Gross National Product in Current and Constant Dollars

Gross national product

Personal consumption expenditures

Durable goodsNondurable goodsServices

Gross private domestic investment

Fixed investmentNonresidential

Structures ,Producers' durable equipment

Residential •Nonfarm structuresFarm structuresProducers' durable equipment

Change in business inventoriesNonfarmFarm

Net exports of goods and services

ExportsImports .

Government purchases of goods and services

FederalNational defenseNondefense

State and local

Billions of dollars

1982

3,073.0

1,991.9

244.5761.0986.4

414.5

439.1348.3141.9206.4

90.886.01.53.2

-24.5-23.1-1.4

17.4

347.6330.2

649.2

258.7179.4

79.3390.5

1983

3,310.5

2,158.0

279.4804.1

1,074.5

471.9

478.4348.4131.1217.2130.0124.9

1.53.6

-6.428

-3.7

-9.0

335.4344.4

689.5

274.8200.3

74.5414.7

Seasonally adjusted at annual rates

1982

IV

3,109.6

2,046.9

252.1773.0

1,021.8

377.4

433.8337.0138.6198.4

96.891.22.33.3

-56.4537

-2.7

5.6

321.6316.1

679.7

279.2190.888.5

400.5

1983

I

3,171.5

2,073.0

258.5777.1

1,037.4

404.1

443.5332.1132.9199.3111.3106.7

1.33.4

-39.4-39.0

-.4

17.0

326.9309.9

677.4

273.5194.479.1

404.0

II

3,272.0

2,147.0

277.7799.6

1,069.7

450.1

464.6336.3127.4208.8-128.4123.3

1.53.5

-14.5-10.3-4.2

-8.5

327.1335.6

683.4

273.7199.4

74.3409.7

III

3,362.2

2,181.1

282.8814.8

1,083.5

501.1

492.5351.0130.9220.2141.5136.3

1.63.68.5

18.4-9.9

-18.3

341.1359.4

698.3

278.1201.2

76.9420.2

IV

3,436.2

2,230.9

298.6825.0

1,107.3

532.5

512.8374.0133.3240.7138.8133.5

1.63.7

19.619.7-.1

-26.1

346.5372.6

699.0

274.1206.3

67.8424.9

1984

lr

3,550.1

2,286.2

315.1843.2

1,127.9

604.6

533.5385.7140.1245.6147.8142.6

1.43.8

71.050.121.0

482

358.8407.0

707.6

271.9212.7

59.2435.7

Billions of 1972 dollars

1982

1,485.4

970.2

139.8364.2466.2

194.5

203.9166.1

53.4112.737.835.2

.61.994

-8.6g

28.9

147.3118.4

291.8

116.678.837.8

175.2

1983

1,535.3

1,011.4

156.3376.1479.0

219.0

221.1168.449.7

118.852.750.0

.62.12 l-.2

-1.9

11.8

138.7126.9

293.1

117.884.333.6

175.3


1982

IV

1,480.7

979.6

143.2366.0470.4

178.4

201.1160.5

52.2108.340.637.8

.91.9

-22.7-21.1-1.6

23.0

136.5113.5

299.7

124.481.443.0

175.2

1983

I

1,490.1

986,7

145.8368.9472.0

190.0

205.4159.950.3

109.645.543.0

.52.0

-15.4-15.1

-.3

20.5

137.3116.8

292.9

118.482.735.7

174.5

II

1,525.1

1,010.6

156.5374.7479.4

210.0

215.6163.048.3

114.752.650.0

.62.1

-5.4-3.3-2.1

12.3

136.2123.9

292.1

117.684.233.4

174.5

in

1,553.4

1,016.0

157.9378.1480.1

230.7

227.0170.1

49.6120.5

56.854.1

.62.13.88.8

-5.0

11.4

140.7129.2

295.2

118.984.234.7

176.3

IV

1,572.5

1,032.2

165.2382.5484.4

245.2

236.5180.7

50.4130.355.853.1

.62.18.78.8-.1

2.8

140.6137.8

292.3

116.485.830.5

175.9

1984

lr

1,609.3

1,048.3

174.0387.3486.9

277.4

246.7187.653.3

134.359.256.4

.52.2

30.722.28.5

7.5

144.4151.9

291.0

113.887.126.6

177.2

Table 1.3-1.4.—Gross National Product by Major T^pe of Product in Current and Constant Dollars


Final salesChange in business inventories

Goods


Durable goodsFinal sales....Change in business inventories

Nondurable goodsFinal salesChange in business inventories

ServicesStructures

Addenda:Gross domestic purchases l

Final sales to domestic purchasers l

Billions of dollars

1982

3,073.0

3,097.5245

1,208.9

1,305.4245

500.8516.3

-15.5780.1789.1-9.1

1,511.1281.0

3,055.63,080.1

1983

3,310.5

3,316.964

1,366.5

1,373.064

548.7552.6-3.9817.8820.3-2.5

1,635.6308.4

3,319.53,325.9


1982

IV

3,109.6

3,165.9564

1,264.8

1,321.2564

474.0519.0

-45.0790.8802.2

-11.4

1,560.5284.3

3,104.03,160.4

1983

I

3,171.5

3,210.9-39.4

1,292.2

1,331.6-39.4

482.7520.9

-38.2809.5810.6-1.2

1,588.4290.9

3,154.63,193.9

II

3,272.0

3,286.6-14.5

1,346.8

1,361.3-14.5

536.8545.7-8.9810.0815.7-5.7

1,623.4301.9

3,280.53,295.0

III

3,362.2

3,353.78.5

1,388.9

1,380.48.5

568.9555.913.1

820.0824.5-4.5

1,651.0322.3

3,380.53,371.9

IV

3,436.2

3,416.619.6

1,438.1

1,418.519.6

606.4588.118.3

831.8830.4

1.4

1,679.6318.5

3,462.33,442.7

1984

lr

3,550.1

3,479.171.0

1,498.3

1,427.371.0

617.3594.6

22.7881.0832.748.3

1,715.7336.2

3,598.43,527.3


1982

1,485.4

1,494.8-9.4

661.6

671.0-9.4

269.6276.1-6.5392.0394.9-2.9

712.2111.6

1,456.51,465.9

1983

1,535.3

1,537.4-2.1

688.6

690.7-2.1

291.4292.7-1.3397.3398.0-.8

724.5122.2

1,523.51,525.6


1982

IV

1,480.7

1,503.4-22.7

652.1

674.8-22.7

256.4275.3

-18.9395.6399.4-3.8

715.0113.6

1,457.71,480.4

1983

I

1,490.1

1,505.5-15.4

656.9

672.3-15.4

261.3277.0

-15.7395.6395.2

.3

717.8115.4

1,469.61,485.0

II

1,525.1

1,530.5-5.4

681.8

687.2-5.4

287.4291.1-3.7394.5396.1-1.7

723.0120.3

1,512.81,518.3

III

1,553.4

1,549.73.8

699.0

695.33.8

299.9294.1

5.8399.2401.2-2.0

727.0127.3

1,542.01,538.2

IV

1,572.5

1,563.78.7

716.8

708.08.7

316.9308.4

8.5399.9399.6

.3

730.0125.7

1,569.71,561.0

1984

lr

1,609.3

1,578.630.7

742.7

712.030.7

323.5313.8

9.7419.2398.221.0

734.3132.3

1,616.81,586.1

1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports.

6 SURVEY OF CURRENT BUSINESS June 1984

Table 1.5-1.6.—Gross National Product by Sector in Current and Constant Dollars


Gross domestic productBusiness

NonfarmNonfarm less housingHousing

FarmStatistical discrepancy ....

Households and institutionsPrivate householdsNonprofit institutions

Government. ..FederalState and local

Rest of the worldAddendum:

Gross domestic business product less housing

Billions of dollars

1982

3,073.0

3,025.72,594.62,520.02,252.6

267.474.1

.5107.0

7.699.4

324.1101.1223.047.3

2,318.4

1983

3,310.5

3,264.82,803.32,734.72,441.9

292.870.8

-2.3114.9

8.2106.7346.6106.1240.545.7


1982

IV

3,109.6

3,063.52,619.12,539.12,261.0

278.175.84.2

110.87.8

102.9333.7104.2229.546.0

1983

I

3,171.5

3,127.22,675.52,601.82,317.9

284.074.9

-1.2112.2

8.0104.2339.5105.6233.844.3

II

3,272.0

3,227.92,769.82,700.52,411.0

289.672.7

-3.5114.1

8.1106.0344.1106.0238.144.1

m

3,362.2

3,314.12,849.82,779.02,483.3

295.768.32.5

115.68.2

107.4348.8106.2242.648.1

IV

3,436.2

3,389.92,918.32,857.52,555.4

302.167.4

-6.8117.8

8.4109.4353.9106.6247.246.3

1984

lr

3,550.1

3,503.53,022.32,948.62,640.5

308.181.37.5

118.48.5

109.9362.8110.4252.346.6


1982

1,485.4

1,462.31,259.61,220.41,078.3

142.139.0

.246.73.3

43.4156.150.5

105.623.1

1,116.2

1983

1,535.3

1,514.01,310.41,274.71,127.0

147.736.8

-1.147.53.5

44.0156.150.8

105.221.3


1982

IV

1,480.7

1,458.61,255.91,213.21,068.9

144.340.62.0

46.93.3

43.5155.850.7

105.122.1

1983

I

1,490.1

1,469.21,266.11,227.51,081.9

145.639.2-.647.13.4

43.7155.950.8

105.121.0

II

1,525.1

1,504.41,301.21,265.11,118.2

146.937.7

-1.647.33.4

43.9156.050.8

105.120.7

III

1,553.4

1,531.11,327.51,290.91,142.6

148.335.51.1

47.63.5

44.1156.050.8

105.222.3

IV

1,572.5

1,551.21,346.91,315.21,165.4

149.834.9

-3.248.03.5

44.4156.350.8

105.421.3

1984

lr

1,609.3

1,588.11,383.91,349.01,197.7

151.438.3

-3.547.93.6

44.4156.350.9

105.521.2

Table 1.7.—Relation of Gross National Product, Net National Product,National Income, and Personal Income Table 1.11.—National Income by Type of Income


Less:Capital consumption al-

lowances with CCAdj...Capital consumption al-

lowancesLess: CCAdj

Equals: Net national prod-uct

Less:Indirect business tax and

nontax liabilityBusiness transfer pay-

mentsStatistical discrepancy

Plus: Subsidies less currentsurplus of governmententerprises ,

Equals: National income

Less:Corporate profits with

IVA and CCAdjNet interestContributions for social

insuranceWage accruals less dis-

bursements ,Plus:

Government transfer pay-ments to persons ,

Personal interest income....Personal dividend income .Business transfer pay-

ments

Equals: Personal income

Billions of dollars

1982

3,073.0

359.2

312.6-46.6

2,713.8

258.3

14.1.5

9.5

2,450.4

164.8261.1

253.0

0

260.4366.266.4

14.1

2,578.6

1983

3,310.5

377.3

367.8-9.5

2,933.2

285.9

15.5-2.3

16.1

2,650.2

229.1247.5

272.3

-.4

388.1366.370.5

15.5

2,742.1


1982

IV

3,109.6

368.3

329.5-38.8

2,741.3

264.8

14.74.2

16.6

2,474.0

161.9254.7

255.4

0

384.3363.1

67.9

14.7

2,632.0

1983

I

3,171.5

370.8

341.8-29.1

2,800.7

270.6

15.0-1.2

12.3

2,528.5

181.8248.3

265.4

0

383.6357.268.8

15.0

2,657.7

II

3,272.0

373.3

359.0-14.3

2,898.7

285.8

15.3-3.5

11.8

2,612.8

218.2243.8

270.1

-1.3

390.0357.169.3

15.3

2,713.6

m

3,362.2

381.7

378.5-3.2

2,980.5

291.1

15.72.5

15.8

2,686.9

248.4246.1

274.4

-.4

386.8369.970.9

15.7

2,761.9

IV

3,436.2

383.2

391.88.6

3,053.0

296.0

16.1-6.7

24.6

2,772.4

268.2251.9

279.2

0

392.0381.172.9

16.1

2,835.2

1984

lr

3,550.1

388.8

402.013.3

3,161.4

301.2

16.6-7.5

32.1

2,883.3

281.6262.0

296.6

.2

395.3396.375.1

16.6

2,926.2

Table 1.8.—Relation of Gross National Product, Net National Product,and National Income in Constant Dollars

[Billions of 1972 dollars]

Gross national productLess: Capital consumption

allowances with CCAdjEquals: Net national prod-

uctLess: Indirect business tax

and nontax liability plusbusiness transfer pay-ments less subsidies pluscurrent surplus of govern-ment enterprises

Statistical discrepancy....Equals: National income

1,485.4

162.5

1,322.9

1473.2

1,175.4

1,535.3

169.1

1,366.2

1538-1.1

1,213.4

1,480.7

165.5

1,315.2

146.92.0

1,166.2

1,490.1

166.3

1,323.9

150.3-.6

1,174.2

1,525.1

167.8

1,357.3

152.8-1.6

1,206.1

1,553.4

170.7

1,382.7

154.41.1

1,227.1

1,572.5

171.6

1,400.9

157.7-3.2

1,246.3

1,609.3

173.7

1,435.6

160.9-3.5

1,278.2

National income

Compensation of employ-eesWages and salaries

Government and gov-ernment enterprises ....

OtherSupplements to wages

and salariesEmployer contribu-

tions for social in-surance

Other labor income

Proprietors' income withIVA and CCAdj

FarmProprietors' income

with IVACCAdj

NonfarmProprietors' incomeIVACCAdj

Rental income of personswith CCAdj ..

Rental income of per-sons

CCAdj

Corporate profits with IVAand CCAdj

Corporate profits withIVAProfits before tax

Profits tax liability ..Profits after tax

DividendsUndistributed

profitsIVACCAdj

Net interest.

Addenda:Corporate profits after

tax with IVA andCCAdj

DividendsUndistributed profits

with IVA and CCAdj

Billions of dollars

1982

2,450.4

1,865.71,568.1

306.01,262.1

297.6

140.9156.6

109.021.5

29.9-8.487.484.2-.63.9

49.9

86.3-36.5

164.8

165.9174.259.2

115.168.7

46.4-8.4-1.1

261.1

105.668.7

37.0

1983

2,650.2

1,990.21,664.1

325.71,338.4

326.1

152.7173.4

128.520.9

29.3-8.4107.697.3-.811.1

54.8

93.2385

229.1

198.3207.576.9

130.673.3

57.3-9.230.8

247.5

152.273.3

78.9


1982

IV

2,474.0

1,889.01,586.0

314.51,271.5

302.9

142.5160.4

116.226.0

34.6-8.690.286.0-.84.9

52.3

87.4-35.2

161.9

157.2167.554.0

113.570.4

43.1-10.3

4.7

254.7

107.970.4

37.5

1983

I

2,528.5

1,923.71,610.6

319.21,291.5

313.1

148.8164.3

120.622.2

30.6-8.498.491.0-.27.6

54.1

91.6-37.5

181.8

168.0169.761.5

108.271.4

36.7-1.713.9

248.3

120.371.4

48.9

II

2,612.8

1,968.71,647.1

323.31,323.8

321.6

151.5170.1

127.221.0

29.4-8.4106.296.8

-1.110.5

54.8

92.237 4

218.2

192.7203.376.0

127.272.0

55.2-10.6

25.6

243.8

142.272.0

70.1

m

2,686.9

2,011.81,681.5

328.41,353.1

330.3

153.9176.4

126.715.5

23.9-8.4111.2100.6-1.512.2

53.9

94.0400

248.4

210.8229.184.9

144.173.7

70.4-18.3

37.6

246.1

163.473.7

89.7

rv

2,772.4

2,056.61,717.3

332.11,385.2

339.4

156.7182.7

139.425.0

33.2-8.3114.5100.9-.614.1

56.2

95.1-38.8

268.2

222.0228.285.3

142.975.9

67.0-6.346.2

251.9

182.975.9

107.0

1984

lr

2,883.3

2,113.41,756.6

339.41,417.2

356.8

167.9189.0

169.347.9

56.182

121.4106.9-1.115.6

57.0

96.2393

281.6

231.8244.392.7

151.678.2

73.4-12.5

49.8

262.0

188.978.2

110.7


Table 1.13.—Gross Domestic Product of Corporate Business in Current Dollars and Gross Domestic Product of Nonfmancial CorporateBusiness in Current and Constant Dollars

Gross domestic prod-uct of corporatebusiness

Capital consumption allow-ances with CCAdj

Net domestic productIndirect business tax and

nontax liability plusbusiness transfer pay-ments less subsidies

Domestic incomeCompensation of em-

ployeesWages and salariesSupplements to

wages and salaries ...Corporate profits with

IVA and CCAdj

Profits before taxProfits tax liability ..Profits after tax

DividendsUndistributed

IVA P

CCAdjNet interest

Gross domesticproduct of finan-cial corporatebusiness

Gross domesticproduct of nonfi-nancial corpo-rate business

Capital consumption allow-ances with CCAdj .

Billions of dollars

1982

1,897.1

222.0

1,675.1

187.6

1,487.5

1,282.21,065.8

216.4

143.0

152.459.293.254.4

38.8-8.4

1162.3

120.4

1,776.7

210.0

1983

2,064.5

231.6

1,832.9

206.9

1,626.0

1,363.51,126.3

237.1

207.7

186.176.9

109.261.8

47.4-9.230.854.8

142.8

1,921.7

218.2


1982

IV

1,903.2

227.7

1,675.4

191.4

1,484.0

1,289.21,070.3

218.9

137.8

143.454.089.456.7

32.6-10.3

4.757.1

128.2

1,775.0

215.1

1983

I

1,954.2

228.3

1,725.9

195.6

1,530.3

1,313.61,086.9

226.7

161.6

149.561.588.060.6

27.4-1.713.955.1

136.5

1,817.6

215.3

II

2,036.5

229.8

1,806.7

207.3

1,599.4

1,347.61,114.1

233.5

197.7

182.876.0

106.762.9

43.9-10.6

25.654.0

144.1

1,892.4

216.7

III

2,102.5

233.1

1,869.4

211.0

1,658.4

1,379.11,138.5

240.5

225.0

205.784.9

120.762.3

58.4-18.3

37.654.3

144.7

1,957.8

219.6

IV

2,164.7

235.2

1,929.5

213.7

1,715.8

1,413.51,165.7

247.9

246.5

206.585.3

121.261.3

59.963

46.255.8

145.7

2,019.0

221.3

1984

lr

2,227.7

238.5

1,989.1

216.4

1,772.7

1,455.21,193.3

261.8

259.5

222.292.7

129.563.5

65.9-12.5

49.858.1

149.4

2,078.3

224.1



Domestic incomeCompensation of em-

ployeesWages and salariesSupplements to

wages and salaries ...Corporate profits with

IVA and CCAdj

Profits before taxProfits tax liability ..Profits after tax

Dividends1 Undistributed

profitsIVA..:....CCAdj

Net interest

Gross domestic prod-uct of nonfinancialcorporate business..

Capital consumption allow-ances with CCAdj



Domestic income

Billions of dollars

1982

1,566.8

179.01,387.8

1,198.6997.3

201.3

124.0

131.541.290.357.2

33.1-8.4

.865.2

1983

1,703.5

197.21,506.3

1,269.11,048.9

220.1

177.8

154.656.298.464.5

33.9-9.232.459.4


1982

IV

1,559.8

182.41,377.4

1,201.2998.2

203.0

114.3

117.933.684.459.2

25.1-10.3

6.761.9

1983

I

1,602.3

186.41,415.9

1,222.41,012.0

210.4

133.9

119.741.877.963.3

14.5-1.715.959.7

II

1,675.7

197.61,478.1

1,253.91,037.2

216.7

165.7

149.055.094.065.6

28.4-10.6

27.358.6

III

1,738.2

201.11,537.1

1,283.71,060.4

223.3

194.5

173.863.9

109.865.1

44.818.339.058.9

IV

1,797.7

203.71,594.1

1,316.41,086.2

230.2

217.2

176.964.2

111.764.0

47.76.3

47.660.5

1984

lr

1,854.1

206.11,648.0

1,355.21,112.0

243.2

229.8

191.071.4

119.666.1

53.5-12.5

51.362.9


857.7

96.8

760.9

94.2666.6

895.2

100.4

794.8

98.7696.1

846.4

98.2

748.2

93.9654.3

856.0

98.9

757.2

96.4660.8

885.8

99.8

786.0

97.5688.4

909.4

101.1

808.3

99.1709.2

929.7

101.9

827.8

101.7726.1

952.1

103.1

849.0

104.2744.8

Table 1.14-1.15.—Auto Output in Current and Constant Dollars

Auto output

Final salesPersonal consumption expenditures

New autosNet purchases of used autos

Producers' durable equipment... .New autosNet purchases of used autos

Net exportsExportsImports

Government purchasesChange in business inventories.

New...Used

Addenda:Domestic output of new autos 1

Sales of imported new autos 2.

Billions of dollars

1982

66.6

69.973.952.921.012.424.9

-12.61742.9

20.31.0

-3.3-3.3

0

50.627.9

1983

88.9

86.690.965.125.914.030.8

-16.81954.3

23.81.12.31.9.3

71.332.6


1982

IV

66.0

75.979.758.521.212.325.7

-13.5-17.1

2.419.51.0

-9.8-11.1

1.3

49.430.3

1983

I

78.5

76.380.757.523.212.927.4

-14.518 53.9

22.31.12.21.9.3

63.429.8

II

80.9

86.891.466.924.513.428.6

-15.21914.1

23.21.1

-5.9-6.7

.8

64.432.5

III

95.0

91.292.565.826.715.132.7

-17.617 54.8

22.41.23.83.80

76.431.4

IV

101.0

92.199.270.029.214.734.6

-19.9-23.0

4.327.31.29.08.7

.2

81.136.6

1984

lr

109.3

101.2108.476.332.115.637.7

-22.1-24.0

5.129.11.28.07.3.8

91.534.5


1982

38.5

40.337.129.87.39.3

14.0-4.7-6.8

1.68.4

.7-1.8-1.8

0

28.515.7

1983

49.9

48.644.035.78.3

11.316.9

-5.6-7.4

2.39.7.8

1.31.2.1

39.017.9


1982

IV

38.3

43.439.932.77.29.5

14.4-4.9-6.7

1.38.0

.7-5.2-5.6

.5

27.716.9

1983

I

44.9

43.339.631.87.8

10.015.2

-5.1-7.1

2.19.1

.71.51.4.1

34.916.5

II

46.0

48.845.037.08.0

10.615.852

-7.52.29.7

.7-2.8-3.1

.3

35.518.0

III

53.1

51.044.536.18.4

12.117.958

-6.32.58.9.8

2.02.00

41.717.2

IV

55.8

51.246.737.88.9

12.418.7

-6.3-8.8

2.311.0

.84.74.6.1

43.719.8

1984

lr

59.7

55.850.641.09.6

13.520.2

-6.7-9.1

2.711.8

.83.93.7

.2

49.018.5

Table 1.16-1.17.—Truck Output in Current and Constant Dollars

Truck output l

Final salesPersonal consumption expendituresProducers' durable equipmentNet exports

ExportsImports

Government purchases

Change in business inventories

Billions of dollars

1982

30.4

30.811.816.6

-2.72.55.25.2

-.4

1983

37.2

36.816.119.3

-3.92.05.95.4

.4


1982

IV

26.4

30.811.614.9

-1.62.33.96.0

-4.4

1983

I

30.5

31.312.716.5

-3.01.84.95.1

-.8

II

35.0

34.616.517.1

-4.21.96.05.2

.4

III

38.9

37.116.519.1

-4.02.16.15.5

1.8

IV

44.3

44.218.824.3

-4.62.26.85.7

.1

1984

I r

48.7

46.419.225.9472.47.16.0

2.3


1982

14.3

14.46.67.1

-1.41.12.52.2

-.1

1983

17.2

17.18.87.91 9.8

2.82.2

.2


1982

IV

12.4

14.46.56.3

— 9LO1.82.5

-2.1

1983

I

14.1

14.47.06.8

-1.5.8

2.32.1

-.3

II

16.5

16.39.17.0

-2.0.8

2.82.2

.2

III

18.0

17.29.07.919.9

2.82.3

.7

IV

20.3

20.310.110.0

-2.2.9

3.12.4

0

1984

I r

21.9

21.010.310.5

-2.21.03.22.4

.9

Table 1.14-1.15:1. Consists of final sales and change in business inventories of new autos produced in the

United States.2. Consists of personal consumption expenditures, producers' durable equipment, and govern-

ment purchases.

Table 1.16-1.17:1. Includes new trucks only.


Table 2.1.—Personal Income and Its Disposition

Personal income

Wage and salary disburse-mentsCommodity-producing

industriesManufacturing

Distributive industriesService industriesGovernment and govern-

ment enterprises

Other labor income

Proprietors' income with IVAand CCAdj

FarmNonfarm

Rental income of personswith CCAdj

Personal dividend income

Personal interest income

Transfer paymentsOld-age, survivors, disabil-

ity, and health insurancebenefits

Government unemploymentinsurance benefits

Veterans benefitsGovernment employees re-

tirement benefitsOther transfer paymentsAid to families with de-

pendent childrenOther

Less: Personal contribu-tions for social insurance .

Less: Personal tax andnontax payments

Equals: Disposable personalincome

Less* Personal outlaysPersonal consumption ex-

pendituresInterest paid by consumers

to businessPersonal transfer payments

to foreigners (net)

Equals: Personal saving

Addenda:Disposable personal

income:Total, billions of 1972 dol-

larsPer capita:

Current dollars1972 dollars

Population (millions)

Personal saving as percent-age of disposable person-al income

Billions of dollars

1982

2,578.6

1,568.1

509.2383.8378.8374.1

306.0

156.6

109.021.587.4

49.9

66.4

366.2

374.5

204.5

24.816.4

54.274.6

13.461.2

112.0

402.1

2,176.5

2,051.1

1,991.9

58.1

1.1

125.4

1,060.2

9,3774,567232.1

5.8

1983

2,742.1

1,664.6

529.7402.8397.2411.5

326.2

173.4

128.520.9

107.6

54.8

70.5

366.3

403.6

222.8

25.616.7

58.680.0

14.365.7

119.5

406.5

2,335.6

2,222.0

2,158.0

62.8

1.2

113.6

1,094.6

9,9694,672234.3

4.9


1982

IV

2,632.0

1,586.0

499.5377.4383.5388.5

314.5

160.4

116.226.090.2

52.3

67.9

363.1

399.0

216.5

32.216.6

55.877.9

13.564.3

112.9

404.1

2,227.8

2,107.0

2,046.9

59.1

1.0

120.8

1,066.1

9,5624,576233.0

5.4

1983

I

2,657.7

1,610.7

508.6385.4386.4396.4

319.2

164.3

120.622.298.4

54.1

68.8

357.2

398.5

217.4

29.016.9

56.678.7

14.164.5

116.5

401.8

2,255.9

2,134.2

2,073.0

60.2

1.0

121.7

1,073.8

9,6614,599233.5

5.4

n

2,713.6

1,648.4

522.2397.4394.3407.3

324.6

170.1

127.221.0

106.2

54.8

69.3

357.1

405.3

221.1

30.016.6

58.379.3

14.464.9

118.6

412.6

2,301.0

2,209.5

2,147.0

61.4

1.1

91.5

1,083.0

9,8344,629234.0

4.0

HI

2,761.9

1,681.9

537.8409.2398.9416.4

328.8

176.4

126.715.5

111.2

53.9

70.9

369.9

402.5

223.8

22.616.6

59.380.2

14.366.0

120.5

400.1

2,361.7

2,245.9

2,181.1

63.6

1.2

115.8

1,100.1

10,0694,690234.6

4.9

IV

2,835.2

1,717.3

550.0419.0409.3425.8

332.1

182.7

139.425.0

114.5

56.2

72.9

381.1

408.1

228.8

20.716.5

60.182.0

14.567.5

122.5

411.4

2,423.9

2,298.3

2,230.9

66.0

1.4

125.6

1,121.5

10,3084,769235.1

5.2

1984

Ir

2,926.2

1,756.4

567.2433.0415.3434.7

339.3

189.0

169.347.9

121.4

57.0

75.1

396.3

411.8

233.5

17.416.6

61.383.0

15.167.9

128.7

421.3

2,504.9

2,356.5

2,286.2

68.7

1.6

148.4

1,148.6

10,6314,875235,6

5.9

Table 2.2-2.3.—Personal Consumption Expenditures by Major Type ofProduct in Current and Constant Dollars

Personal consump-tion expenditures

Durable goods

Motor vehicles and parts ...Furniture and household

equipmentOther

Nondurable goods

FoodClothing and shoesGasoline and oilOther nondurable goods

Fuel oil and coalOther

Services

HousingHousehold operation

Electricity and gasOther

TransportationOther

Personal consump-tion expenditures

Durable goods

Motor vehicles and parts ...Furniture and household

eQuiomentoSz!.!!:::::::::::::::::::::::::Nondurable goods

FoodClothing and shoesGasoline and oilOther nondurable goods ....

Fuel oil and coal .'.Other

Services

HousingHousehold operation


TransportationOther

Billions of dollars

1982

1,991.9

244.5

109.9

93.541.1

761.0

396.9119.091.5

153.520.0

133.5

986.4

334.1144.376.368.068.4

439.6

1983

2,158.0

279.4

133.4

102.243.9

804.1

422.1125.690.8

165.721.1

144.6

1,074.5

363.6153.881.172.772.8

484.3


1982

IV

2,046.9

252.1

116.1

94.941.0

773.0

404.5119.691.1

157.920.2

137.7

1,021.8

345.2147.176.870.369.2

460.3

1983

I

2,073.0

258.5

118.4

97.342.9

777.1

411.7120.087.3

158.117.7

140.4

1,037.4

352.6145.974.171.870.1

468.8

II

2,147.0

277.7

133.9

100.843.1

799.6

419.6126.490.3

163.321.2

142.1

1,069.7

359.5155.482.872.670.9

483,9

III

2,181.1

282.8

135.6

102.944.3

814.8

426.4125.193.1

170.223.0

147.2

1,083.5

367.2155.883.372.574.0

486.6

IV

2,230.9

298.6

145.6

107.745.4

825.0

430.6130.792.7

171.122.3

148.8

1,107.3

375.1157.984.073.976.1

498.1

1984

lr

2,286.2

315.1

155.8

111.847.5

843.2

439.9134.092.4

176.922.0

154.9

1,127.9

382.5161.6

84.876.877.6

506.2


970.2

139.8

57.4

59.722.7

364.2

184.084.425.670.23.5

66.6

466.2

171.363.524.938.631.7

199.6

1,011.4

156.3

68.0

64.723.7

376.1

191.087.326.371.54.0

67.5

479.0

176.363.724.639.131.6

207.3

979.6

143.2

60.5

60.222.5

366.0

186.484.525.270.03.4

66.6

470.4

172.463.023.939.131.4

203.5

986.7

145.8

60.9

61.723.3

368.9

188.284.726.369.73.3

66.4

472.0

174.061.923.039.031.2

204.8

1,010.6

156.5

69.1

63.923.4

374.7

189.488.426.370.74.1

66.6

479.4

175.564.225.139.131.4

208.2

1,016.0

157.9

69.1

65.223.6

378.1

193.186.126.372.64.3

68.3

480.1

177.164.325.438.931.7

207.0

1,032.2

165.2

73.0

67.924.3

382.5

193.590.026.272.84.1

68.7

484.4

178.864.525.139.432.0

209.1

1,048.3

174.0

77.9

70.825.3

387.3

192.592.727.275.04.0

71.0

486.9

180.665.125.539.632.0

209.3

Table 3.14.—State and Local Government Social Insurance FundsReceipts and Expenditures

[Billions of dollars]

Receipts

Contributions for social in-surance .

Personal contributionEmployer contributions

Government and gov-ernment enterprises ....

Other

Interest and dividends re-ceived

Expenditures

Administrative expenses(purchases of goods andservices)

Transfer payments to per-sons

Surplus or deficit(_)

56.2

351

9.225.9

23.623

211

23.0

8

223

332

616

379

10.027.9

25.524

237

25.5

9

246

361

58 1

361

9.526.7

24.323

22 0

24.0

g

232

342

595

369

9.727.2

24.923

226

24.7

g

239

34 9

608

375

9.927.7

25.323

233

25.2

g

244

356

622

382

10.128.1

25.724

240

257

9

248

366

637

389

10.328.6

26.225

249

265

9

255

37 3

656

396

10.529.2

26.625

259

27.3

10

264

382

Table 3.14:NOTE.—In this table, interest and dividends received are included in receipts; in tables 3.2 and

3.3, interest received and dividends received are netted against expenditures.


Table 3.2.—Federal Government Receipts and Expenditures Table 3.3.—State and Local Government Receipts and Expenditures

Receipts

Personal tax and nontaxreceipts

Income taxesEstate and gift taxesNontaxes

Corporate profits tax accru-als

Indirect business tax andnontax accruals

Excise taxesCustoms dutiesNontaxes

Contributions for socialinsurance

Expenditures

Purchases of goods andservices

National defenseNondefense

Transfer paymentsTo personsTo foreigners

Grants-in-aid to State andlocal governments

Net interest paidInterest paid

To persons and busi-ness

To foreignersLess: Interest received

Subsidies less current sur-plus of governmententerprises

SubsidiesLess: Current surplus of

government enterprises-

Less: Wage accruals lessdisbursements

Surplus or deficit( ) NIPA's

Social insurance fundsOther

Billions of dollars

1982

617.4

304.7296.7

7.6.3

46.5

48.332.48.67.3

217.9

764.4

258.7179.479.3

321.1314.8

6.3

83.984.9

107.7

89.518.222.8

15.814.9

-.8

0

-147.1

-29.01180

1983

644.7

295.9289.7

5.9.3

60.3

54.036.49.18.5

234.4

826.3

274.8200.374.5

345.4338.7

6.7

86.596.5

121.1

103.417.724.7

22.619.9

-2.7

-.4

-181.6

-28.7-152.9


1982

IV

612.6

303.0296.7

6.0.3

42.1

48.332.48.37.6

219.3

820.9

279.2190.888.5

344.8337.2

7.6

85.089.1

112.6

93.818.823.5

22.817.9

-4.9

0

2082

-43.9-164.3

1983

I

623.3

297.7291.7

5.7.3

48.6

48.633.37.57.7

228.5

806.6

273.5194.479.1

340.3335.3

5.0

85.888.4

113.0

95.417.624.6

18.616.4

-2.3

0

-183.3

-32.01514

II

652.6

304.2297.8

6.1.3

59.8

56.038.68.98.4

232.6

818.7

273.7199.474.3

347.0341.0

6.0

86.791.8

116.0

98.617.424.2

18.217.7

-.5

-1.3

-166.1

-31.4-134.7

III

645.2

286.9280.2

6.3.4

66.6

55.537.09.88.8

236.2

832.5

278.1201.276.9

343.5337.5

6.0

87.2101.0125.8

108.117.724.8

22.317.8

-4.5

-.4

-187.3

-25.91614

IV

657.5

295.0289.1

5.5.4

66.4

55.836.810.09.0

240.3

847.3

274.1206.367.8

350.9341.1

9.7

86.4104.6129.6

111.518.125.0

31.327.8

-3.5

0

189.8

-25.6-164.3

1984

lr

687.9

302.5295.7

6.4.4

72.5

56.036.610.88.6

256.9

858.7

271.9212.759.2

349.7343.5

6.2

90.4108.0133.4

115.018.425.4

38.938.6

-.3

.2

-170.7

-12.3-158.4

Receipts

Personal tax and nontaxreceipts. ...

Income taxes .NontaxesOther

Corporate profits tax accru-als

Indirect business tax andnontax accruals

Sales taxesProperty taxesOther

Contributions for social in-surance

Federal grants-in-aid

Expenditures

Purchases of goods andservices

Compensation of employ-ees

Other .Transfer payments to per-

sonsNet interest paid ...

Interest paidLess: Interest received

Less: Dividends received

Subsidies less current sur-plus of governmententerprises

SubsidiesLess: Current surplus of

government enterprises..

Less: Wage accruals lessdisbursements

Surplus or deficit( ) NIPA's

Social insurance fundsOther

Billions of dollars

1982

439.1

97.451.836.49.2

12.7

210.095.585.129.3

35.183.9

407.8

390.5

223.0167.5

45.619829.949.7

2.3

-6.3.5

6.7

0

31.3

33.2-1.9

1983

483.5

110.559.441.110.0

16.6

231.9105.994.431.6

37.986.5

432.0

414.7

240.5174.2

49.4-22.7

33.856.6

2.8

65.5

7.0

0

51.4

36.115.3


1982

IV

450.7

101.253.538.19.5

11.9

216.698.088.829.8

36.185.0

417.8

400.5

229.5171.0

47.1-21.1

31.552.6

2.5

-6.2.5

6.7

0

32.9

34.2-1.2

1983

I

461.7

104.155.139.39.6

12.9

222.0100.491.230.5

36.985.8

421.3

404.0

233.8170.1

48.3-22.0

32.354.3

2.6

63.5

6.8

0

40.4

34.95.5

II

478.7

108.458.040.49.9

16.2

229.9105.093.531.3

37.586.7

427.0

409.7

238.1171.5

49.0-22.5

33.355.8

2.7

64.5

6.9

0

51.7

35.616.1

III

492.7

113.361.541.710.1

18.4

235.6108.095.532.1

38.287.2

437.1

420.2

242.6177.6

49.4-23.0

34.357.3

2.8

65.5

7.1

0

55.5

36.618.9

IV

500.7

116.463.143.010.3

18.9

240.1110.397.332.6

38.986.4

442.7

424.9

247.2177.7

50.8-23.4

35.458.8

3.0

-6.7.5

7.2

0

58.1

37.320.8

1984

lr

514.2

118.864.144.310.4

20.2

245.1113.398.833.1

39.690.4

453.7

435.7

252.3183.4

51.8-24.0

36.960.9

3.0

-6.8.6

7.3

0

60.5

38.222.3

Table 3.7B-3.8B.—Government Purchases of Goods and Services by Type in Current and Constant Dollars


Federal..National defense


Compensation of employeesMilitaryCivilian

Other servicesStructures

NondefenseDurable goodsNondurable goods

Commodity Credit Corporation: Inventory changeOther nondurables

ServicesCompensation of employeesOther services

Structures

State and localDurable goodsNondurable goodsServices

Compensation of employeesOther services .

Structures

Billions of dollars

1982

649.2

258.7179.449.613.7

112.268.440.927.543.83.8

79.33.1

14.49.25.2

55.032.722.36.7

390.513.331.3

304.8223.081.841.0

1983

689.5

274.8200.359.213.8

122.871.842.629.251.04.5

74.53.55.4

-1.26.6

59.034.324.76.7

414.714.332.0

328.6240.588.239.7


1982

IV

679.7

279.2190.853.615.0

118.170.642.228.447.54.1

88.53.4

21.316.15.2

57.133.623.56.6

400.513.731.6

313.7229.584.341.5

1983

I

677.4

273.5194.455.314.8

120.371.542.429.148.83.9

79.13.5

10.34.36.0

58.634.124.46.8

404.013.930.8

319.8233.885.939.5

II

683.4

273.7199.460.114.0

120.771.742.529.249.04.6

74.33.55.5

-1.16.6

58.834.324.66.5

409.714.231.4

325.5238.187.438.5

III

698.3

278.1201.258.513.7

124.271.842.629.352.44.7

76.93.18.1.6

7.558.634.424.37.1

420.214.532.5

331.4242.688.841.8

IV

699.0

274.1206.362.912.8

126.072.142.729.453.94.6

67.83.8

-2.4-8.7

6.360.034.525.56.4

424.914.733.2

337.8247.290.639.1

1984

lr

707.6

271.9212.767.111.6

129.674.844.430.454.84.4

59.23.6

-12.9-18.7

5.862.135.626.46.4

435.715.134.1

345.2252.392.941.3


1982

291.8

116.678.821.72.8

52.633.919.914.018.71.7

37.81.56.64.91.7

26.816.610.22.9

175.26.2

11.7139.5105.633.917.7

1983

293.1

117.884.324.33.1

54.934.220.014.220.71.9

33.61.61.7-.52.1

27.416.610.82.9

175.36.5

12.1139.5105.234.317.1


1982

IV

299.7

124.481.422.83.0

53.834.120.014.119.71.8

43.01.6

11.49.71.8

27.216.610.52.9

175.26.3

11.8139.1105.134.018.0

1983

I

292.9

118.482.723.53.1

54.334.220.014.220.11.7

35.71.63.81.72.0

27.416.610.82.9

174.56.4

11.9139.2105.134.117.0

II

292.1

117.684.225.23.1

53.934.220.014.219.72.0

33.41.61.6-.72.3

27.416.610.82.8

174.56.5

12.0139.4105.134.216.6

III

295.2

118.984.223.73.1

55.434.220.014.221.22.0

34.71.43.0.8

2.227.216.610.63.0

176.36.6

12.2139.6105.234.417.9

IV

292.3

116.485.824.93.0

55.934.220.014.221.72.0

30.51.7

-1.6-3.7

2.127.616.611.02.7

175.96.7

12.4140.0105.434.516.8

1984

lr

291.0

113.887.126.42.8

56.134.320.114.221.81.9

26.61.65.6

-7.72.1

27.916.611.32.7

177.26.8

12.7140.3105.534.817.5

445-525 0 - 8 4 - 2


Table 4.1-4.2.—Foreign Transactions in the National Income and Product Accounts in Current and Constant Dollars

Receipts from foreigners

Exports of goods and services .Merchandise,,-,,,.-, ...„„... t

Durable goodsNondurable goods

ServicesFactor income *Other

Capital grants received by the United States (net)

Payments to foreigners

Imports of goods and servicesMerchandise


ServicesFactor income *Other

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

Interest paid by government to foreigners

Net foreign investment

Billions of dollars

1982

347.6

347.6209.2119.589.8

138.486.551.9

0

347.6

330.2244.5123.4121.1

85.739.346.4

7.51.16.3

18.2

-8.3

1983

335.4

335.4199.4114.285.2

136.182.154.0

0

335.4

344.4258.9138.8120.2

85.436.449.1

7.91.26.7

17.7

-34.6


1982

IV

321.6

321.6190.9108.782.2

130.880.350.5

0

321.6

316.1235.0114.0121.0

81.034.346.7

8.71.07.6

18.8

-21.9

1983

I

326.9

326.9195.6111.883.8

131.376.954.5

0

326.9

309.9230.9124.7106.2

79.032.646.5

6.11.05.0

17.6

-6.7

II

327.1

327.1194.3112.481.9

132.879.253.7

0

327.1

335.6251.3134.6116.8

84.235.149.2

7.11.16.0

17.4

-33.0

III

341.1

341.1201.2114.786.5

139.885.953.9

0

341.1

359.4272.7141.6131.1

86.737.948.8

7.21.26.0

17.7

-43.2

IV

346.5

346.5206.3117.988.4

140.286.353.9

0

346.5

372.6280.8154.2126.6

91.840.051.8

11.21.49.7

18.1

-55.3

1984

lr

358.8

358.8215.4124.091.4

143.488.954.5

0

358.8

407.0314.6179.8134.8

92.442.350.2

7.81.66.2

18.4

-74.5


1982

147.381.444.437.0

65.942.223.7

118.479.752.327.4

38.719.119.5

1983

138.776.941.735.2

61.838.223.6

126.988.958.730.1

38.116.921.2


1982

IV

136.575.440.235.2

61.138.522.6

113.577.049.028.0

36.516.420.1

1983

I

137.376.941.235.7

60.436.324.1

116.881.453.228.2

35.415.420.0

II

136.275.541.234.3

60.737.123.6

123.986.256.629.6

37.716.421.3

III

140.777.441.835.5

63.339.923.4

129.290.759.930.8

38.517.620.9

IV

140.677.942.735.2

62.739.623.2

137.897.165.231.9

40.718.322.4

1984

lr

144.480.744.536.2

63.740.423.3

151.9111.376.135.1

40.619.221.4

Table 4-1-4-2:1. Equals rest-of-the-world production as shown in tables 1.5-1.6.

Table 4.3-4.4.—Merchandise Exports and Imports by Type of Product and by End-Use Category in Current and Constant Dollars

Merchandise exports . . ..

Foods, feeds, and beverages .

Industrial supplies and materialsDurable goodsNondurable goods

Capital goods, except autos

Autos

Consumer goodsDurable goodsNondurable goods

OtherDurable goodsNondurable goods

Merchandise imports

Foods, feeds, and beverages

Industrial supplies and materials, excluding petroleumDurable goodsNondurable goods

Petroleum and products .

Capital goods, except autos

Autos

Consumer goodsDurable goodsNondurable goods


Addenda:Exports:

Agricultural productsNonagricultural products

Imports of nonpetroleum products

Billions of dollars

1982

209.2

31.6

61.616.944.7

73.8

17.1

14.86.58.3

10.35.15.1

244.5

17.1

46.723.922.8

61.2

38.3

34.3

39.723.316.4

7.23.63.6

37.2172.0183.3

1983

199.4

31.4

56.616.240.5

68.3

18.5

14.06.08.0

10.65.35.3

258.9

18.2

51.126.624.5

54.3

40.9

42.0

44.925.519.4

7.43.73.7

37.1162.3204.6


1982

IV

190.9

27.4

57.415.741.6

67.4

14.3

14.36.18.1

10.05.05.0

235.0

17.7

44.622.022.7

60.5

34.5

31.3

39.022.516.5

7.33.63.6

33.1157.8174.5

1983

I

195.6

31.6

55.015.039.9

69.4

16.6

13.86.17.7

9.24.64.6

230.9

17.7

47.823.224.5

42.0

37.2

36.9

43.224.318.8

6.23.13.1

36.0159.5188.9

II

194.3

30.0

55.415.939.5

67.9

18.2

13.75.87.8

9.24.64.6

251.3

18.2

50.526.424.1

52.1

38.6

41.1

43.825.018.8

•7.13.63.6

35.3158.9199.2

III

201.2

31.5

57.916.841.1

67.0

19.0

14.36.18.2

11.55.85.8

272.7

18.5

52.428.923.5

66.3

41.8

41.5

44.125.318.8

8.04.04.0

37.8163.5206.3

IV

206.3

32.5

58.216.841.4

68.9

20.1

14.15.88.3

12.56.26.2

280.8

18.4

53.928.026.0

56.7

46.1

48.8

48.627.321.3

8.34.24.2

39.1167.2224.1

1984

lr

215.4

34.1

58.916.842.0

71.5

22.3

13.96.07.9

14.87.47.4

314.6

21.0

62.934.428.5

55.0

57.7

53.1

57.330.826.5

7.63.83.8

41.0174.4259.6


1982

81.4

14.5

21.75.9

15.7

28.4

5.4

7.42.64.8

4.02.02.0

79.7

7.2

16.38.38.0

5.1

18.9

11.5

17.912.15.8

2.91.51.5

17.164.374.6

1983

76.9

13.9

20.55.9

14.7

25.9

5.6

7.02.44.6

4.12.02.0

88.9

7.7

18.99.89.1

5.0

20.4

13.7

20.213.36.9

3.01.51.5

16.360.683.9


1982

IV

75.4

13.3

20.75.7

15.0

25.7

4.4

7.32.44.8

4.02.02.0

77.0

7.4

16.17.98.2

5.0

17.3

10.5

17.711.85.8

3.01.51.5

15.959.671.9

1983

I

76.9

14.8

20.05.5

14.5

26.4

5.1

7.02.44.6

3.61.81.8

81.4

7.6

17.58.59.0

3.6

18.5

12.2

19.412.76.7

2.61.31.3

16.860.177.7

II

75.5

13.6

20.25.8

14.4

25.7

5.6

6.92.34.6

3.61.81.8

86.2

7.7

18.59.78.8

4.9

19.0

13.5

19.713.06.8

2.91.51.5

16.059.681.4

III

77.4

13.7

21.16.1

15.0

25.3

5.8

7.12.54.7

4.42.22.2

90.7

7.7

19.210.68.6

6.1

20.8

13.6

19.913.26.7

3.31.61.6

16.461.084.6

IV

77.9

13.3

20.86.0

14.8

26.0

6.0

7.12.44.7

4.72.42.4

97.1

7.7

20.310.59.8

5.2

23.0

15.6

21.914.47.5

3.41.71.7

16.161.891.9

1984

lr

80.7

14.0

20.86.0

14.9

26.8

6.6

6.92.44.5

5.52.82.8

111.3

8.7

23.312.710.6

5.1

28.8

17.0

25.316.19.2

3.11.51.5

16.963.8

106.2

June 1984 SURVEY OF CURRENT BUSINESS 11

Table 5.1.—Gross Saving and Investment

Gross saving

Gross private savingPersonal savingUndistributed corporate

profits with IVA andCCAdj

Undistributed profitsIVACCAdj .

Capital consumption al-lowances with CCAdj:

CorporateNoncorporate •

Wage accruals less dis-bursements

Government surplus ordeficit (-), NIPA's

FederalState and local

Capital grants received bythe United States (net)

Gross investment

Gross private domestic in-vestment ,

Net foreign investment

Statistical discrepan-cy

Billions of dollars

1982

405.8

521.6125.4

37.046.484

-1.1

222.0137.2

0

-115.8-147.1

31.3

0

406.2

414.5-8.3

.5

1983

439.6

569.9113.6

78.957.392

30.8

231.6145.7

0

-130.2-181.6

51.4

0

437.4

471.9-34.6

23


1982

IV

351.3

526.6120.8

37.543.11034.7

227.7140.5

0

-175.3-208.2

32.9

0

355.5

377.4-21.9

4.2

1983

I

398.5

541.5121.7

48.936.7-1.713.9

228.3142.6

0

-142.9-183.3

40.4

0

397.4

404.1-6.7

-1.2

II

420.6

535.091.5

70.155.210625.6

229.8143.5

0

-114.4-166.1

51.7

0

417.1

450.1-33.0

-3.5

III

455.4

587.5115.8

89.770.4

-18.337.6

233.1148.6

0

-131.8-187.3

55.5

0

457.9

501.1-43.2

2.5

IV

484.0

615.7125.6

107.067.0-6.346.2

235.2148.0

0

-131.8-189.8

58.1

0

477.1

532.5-55.3

-6.8

1984

lr

537.6

647.8148.4

110.773.4

-12.549.8

238.5150.2

0

-110.2-170.7

60.5

0

530.1

604.6-74.5

75

Table 5.10-5.11.—-Inventories and Final Sales of Business in Currentand Constant Dollars

Table 5.8-5.9.—Change in Business Inventories by Industry in Currentand Constant Dollars

Change in business invento-ries

FarmNonfarm

Change in book valueIVA1

ManufacturingDurable goodsNondurable goods

Wholesale tradeDurable goodsNondurable goods

Merchant wholesalers.Durable goodsNondurable goods

Nonmerchant wholesalersDurable goods

Retail tradeDurable goodsNondurable goods


Change in business invento-ries

FarmNonfarm ..


Wholesale tradeDurable goodsNondurable goods .....

Merchant wholesalersDurable goodsNondurable goods

Nonmerchant wholesalersDurable goodsNondurable goods


Other

Nondurable goods

Billions of dollars

1982

-24.5

-1.4-23.1-13.9

93

-20.6-14.1-6.4

2 1-1.0-1.0

.2

.20

-2.2-1.2

1 0-1.0-1.0

0.5.7

-.2

1983

-6.4

-3.7-2.8

7.3-10.1

-8.3-6.6-1.7

21-1.9-.1

-1.1-1.7

.7-1.0

2g

8.55.23.3-.9

6-.3


1982

IV

-56.4

27-53.7-42.4

113

-32.4253-7.1

57-9.5

3.8-5.1-7.5

2.4-.6

-2.01.4

-9.2-10.4

1.3-6.5

.2-6.7

1983

I

-39.4

4-39.0-37.7

13

-29.9242

-5.7181

-16.0-2.0

-13.1-14.6

1.5-5.0-1.4

3 66.93.53.42.1153.6

II

-14.5

-4.2-10.3

1.5-11.8

31.1

-3.2-7.7-7.5-.1

-7.6-7.7

.1-.1

.1-.23.9-.74.6

-3.4-.7

-2.7

III

8.5

-9.918.438.8

-20.4

2.5-2.5

5.08.99.5

— 77!29.5

-2.31.701.78.16.02.1

-1.0.1

-1.1

IV

19.6

-.119.726.7

-7.0

-2.6.3

-2.98.56.22.39.25.93.4-.7

.4-1.115.112.03.1

-1.3-.31.0

1984

I r

71.0

21.050.164.1

-14.0

17.39.38.07.24.42.85.13.61.52.1

.81.3

22.99.3

13.52.7-.33.1


-9.4

-.8-8.6

84-6.0-2.4

I-.3

.2

.6

.2

.4-.8-.5-.2-.5-.50

.4

.3

.1

-2.1

-1.9-.2

31-2.6-.5-.5-.7

.2-.2-.6

.4-.2-.1-.13.72.31.5-.4

3-.1

-22.7

-1.6211

-13.6-10.6-3.0

24-3.8

1.4-1.6-3.0

1.4-.9-.80

-4.1-4.6

.5-1.0

.1-1.1

-15.4

-.3151

-12.3-10.1-2.2

67-6.7

0-5.3-6.1

.7-1.3-.6-.73.11.71.4.8

-.61.4

-5.4

-2.1-3.3

-.8.2

-1.029

-3.1.3

-2.9-3.2

.3

.1

.101.7-.52.2

-1.33

-1.0

3.8

-5.08.8

1.4-.92.34.14.0.1

3.84.0-.3

.30

.33.82.61.2-.50-.5

8.7

18.8

-.5.5

-1.03.52.8.7

3.62.7

.90

.2-.26.35.31.1-.6

1-.5

30.7

8.522.2

6.93.93.03.61.91.72.91.61.3

.7

.3

.310.74.06.71.0-.11.1

Inventories 1

FarmNonfarm



Wholesale tradeDurable goods .Nondurable goods




Other

Final sales 2 . .Final sales of goods and structures

Ratio: Inventories to final salesNonfarm inventories to final salesNonfarm inventories to final sales of goods

and structures

Inventories 1

Farm ,Nonfarm


ManufacturingDurable goods .. . .Nondurable goods


Merchant wholesalers ,Durable goodsNondurable goods



Other

Final sales 2

Final sales of goods and structures

Ratio: Inventories to final salesNonfarm inventories to final salesNonfarm inventories to final sales of goods

and structures . .

Billions of dollars

Seasonally adjusted quarterly totals

1982

IV

798.480.7

717.7407.3310.4

341.5220.2121.4

163.5104.159.5

134.288.845.429.315.214.1

141.364.377.171.3

223.0133.8

3.583.22

5.36

1983

I

791.584.3

707.1399.8307.3

332.7214.3118.4

159.1100.958.1

131.886.045.827.315.012.3

143.365.877.472.1

226.2135.2

3.503.13

5.23

II

793.982.6

711.3401.5309.8

334.9216.6118.3

159.2100.059.2

131.384.846.527.915.212.7

145.666.179.571.6

232.0138.6

3.423.07

5.13

III

807.581.9

725.5409.5316.1

341.1219.1122.0

164.1103.061.0

135.287.747.528.915.413.5

149.368.480.971.1

236.8141.9

3.413.06

5.11

IV

816.486.1

730.2415.0315.3

340.8219.5121.3

166.2105.161.1

137.889.648.228.415.512.9

153.271.481.870.1

241.6144.8

3.383.02

5.04

1984

lr

841.692.5

749.1424.2324.9

348.0223.4124.6

169.2106.962.2

140.291.149.129.015.813.2

160.774.786.071.2

245.9147.0

3.423.05

5.10


338.3

43.4294.9176.4118.5

139.694.644.9

67.144.122.956.537.519.010.66.63.9

65.129.535.723.2

106.665.7

3.182.77

4.49

334.5

43.3291.2172.5118.7

136.592.144.4

65.442.522.955.236.019.210.26.53.7

65.929.936.023.4

106.865.6

3.132.73

4.44

333.1

42.8290.3171.6118.8

136.392.144.1

64.741.723.054.435.219.310.36.53.7

66.329.836.523.0

108.967.3

3.062.67

4.31

334.1

41.5292.5173.0119.5

136.691.944.7

65.742.723.055.436.219.210.36.53.8

67.330.436.822.9

110.368.6

3.032.65

4.27

336.2

41.5294.7175.1119.6

136.592.044.5

66.643.423.256.336.819.410.36.63.8

68.931.837.122.8

111.569.5

3.022.64

4.24

343.9

43.6300.3177.6122.7

138.293.045.2

67.543.923.657.037.219.810.56.63.8

71.532.838.823.0

112.870.4

3.052.66

4.27

Table 5.10-5.11:1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories

calculated from current-dollar inventories in this table is not the current-dollar change in busi-ness inventories (CBI) component of GNP. The former is the difference between two inventorystocks, each valued at their respective end-of-quarter prices. The latter is the change in the physi-cal volume of inventories valued at average prices of the quarter. In addition, changes calculatedfrom this table are at quarter rates, whereas CBI is stated at annual rates. Quarter-to-quarterchanges calculated from the constant-dollar inventories shown in this table are at quarterlyrates, 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 ofhouseholds and institutions, government, and rest-of-the-world and includes a small amount offinal sales by farms.

Table 5.8-5.9:1. The IVA shown in this table differs from that which adjusts business income. The IVA in

this table reflects the mix of methods (first-in-first-out, last-in-first-out, etc.) underlying bookvalue inventories derived primarily from Census Bureau Statistics. The mix differs from that un-derlying business income derived primarily from Internal Revenue Service statistics.


Table 6.4.—National Income Without Capital Consumption Adjustmentby Industry

Table 7.1.—Implicit Price Deflators for Gross National Product

National incomewithout CCAdj

Domestic industries

Private industries

Agriculture, forestry,and fisheries

MiningConstruction

ManufacturingDurable goods .Nondurable goods

Transportation andpublic utilities

TransportationCommunicationElectric, gas, and

sanitary services

Wholesale tradeRetail tradeFinance, insurance, and

real estateServices

Government and govern-ment enterprises

Rest of the world

Billions of dollars

1982

2,492.4

2,445.1

2,081.6

68.439.8

106.7

548.9316.7232.2

199.983.060.2

56.7

152.4209.7

369.8386.0

363.5

47.3

1983

2,655.1

2,609.4

2,220.2

68.935.4

113.5

593.0345.3247.6

205.085.059.2

60.9

161.4226.1

394.3. 422.5

389.1

45.7


1982

IV

2,508.1

2,462.1

2,087.8

73.433.9

106.2

530.3298.5231.7

197.781.559.7

56.5

151.0215.8

379.5400.1

374.3

46.0

1983

I

2,553.0

2,508.7

2,127.5

69.734.6

108.4

551.9318.9233.0

198.882.160.0

56.8

151.1218.8

386.6407.6

381.2

44.3

II

2,622.6

2,578.4

2,192.2

68.633.0

111.9

581.6337.7243.8

204.483.860.9

59.7

159.4223.6

392.7417.1

386.3

44.1

ni

2,685.6

2,637.5

2,245.4

63.736.1

116.4

607.6353.5254.1

205.086.656.1

62.3

164.8228.7

395.7427.4

392.2

48.1

IV

2,759.2

2,712.9

2,316.0

73.437.9

117.5

630.8371.2259.6

211.987.459.8

64.8

170.5233.5

402.4438.1

396.9

46.3

1984

I'

2,865.3

2,818.7

2,412.3

96.939.5

121.8

656.9393.7263.2

218.089.761.6

66.7

175.7238.7

415.2449.7

406.4

46.6


Personal consumptionexpenditures


Gross private domesticinvestment.....

Fixed investmentNonresidential .

StructuresProducers' durable equipment ..

ResidentialNonfann structuresFarm structuresProducers' durable equipment ..

Change in business inventories

Net exports of goods andservices

ExportsImports

Government purchases ofgoods and services


State and local

Index numbers, 1972=100

1982

206.88

205.3174.8209.0211.6

215.3209.7265.8183.1240.2244.0245.9168.7

236.0278.9

222.5222.0227.7210.0222.9

1983

215.63

213.4178.7213.8224.3

216.3206.8263.9182.9246.8249.8251.2172.5

241.8271.3

235.2233.3237.7222.0236.6

Seasonally adjusted

1982

IV

210.00

209.0176.1211.2217.2

215.7209.9264.3183.2238.4241.5249.9171.1

235.6278.5

226.8224.4234.3205.7228.5

1983

I

212.83

210.1177.3210.6219.8

215.9207.7265.4181.8244.9248.2248.2171.7

238.0265.4

231.3230.9234.9221.7231.6

II

214.55

212.5177.5213.4223.1

215.5206.3264.0182.1243.9246.8249.8171.5

240.2270.7

234.0232.7236.7222.6234.8

ra

216.44

214.7/1791215.5225.7

217.0206.3263.7182.7249.0251.9251.5172.4

242.5278.1

236.5233.8238.8221.7238.3

IV

218.53

216.1180.7215.7228.6

216.8207.0263.7184.8248.7251.7254.7174.2

246.4270.3

239.1235.6240.3222.2241.5

1984

lr

220.60

218.1181.1217.7231.6

216.2205.6262.9182.9249.9252.7260.4173.9

248.4268.0

243.1239.0244.1222.2245.8

Table 6.20.—Corporate Profits by Industry

Corporate profitswith IVA andCCAdj

Domestic industriesFinancialNonfLnancial

Rest of the world

Corporate profitswith IVA

Domestic industries

FinancialFederal Reserve Banks...Other

Nonfinancial ,Manufacturing

Durable goodsPrimary metal in-

dustries..Fabricated metal

productsMachinery, except

electricalElectric and elec-

tronic equipment ..Motor vehicles and

equipmentOther

Nondurable goodsFood and kindred

productsChemicals and

allied productsPetroleum and coal

productsOther

Transportation andpublic utilities

Wholesale and retailtrade

Other

Rest of the world

Billions of dollars

1982

164.8

143.019.0

124.021.8

165.9

144.1

20.915.45.5

123.259.09.8

-5.4

3.2

4.8

4.3

.42.5

49.2

7.3

4.9

24.812.2

17.5

27.619.1

21.8

1983

229.1

207.729.9

177.821.4

198.3

176.9

31.515.016.6

145.472.019.9

-.7

4.0

2.4

3.3

7.73.2

52.1

6.8

6.0

21.417.9

20.7

34.718.0

21.4


1982

IV

161.9

137.823.5

114.324.1

157.2

133.1

25.514.910.6

107.648.3

1.2

-6.0

2.1

1.8

2.4

-1.22.2

47.1

7.2

3.0

23.513.4

14.9

27.516.9

24.1

1983

I

181.8

161.627.8

133.920.2

168.0

147.8

29.814.415.4

118.053.710.0

-1.6

2.8

1.1

3.5

3.01.2

43.6

6.9

4.8

15.916.0

17.4

27.819.2

20.2

n

218.2

197.732.1

165.720.5

192.7

172.2

33.814.619.2

138.468.118.3

1 1

4.0

2.9

3.0

5.63.9

49.9

6.9

5.5

20.017.4

20.4

33.916.0

20.5

III

248.4

225.030.5

194.523.4

210.8

187.4

31.915.216.8

155.578.221.3

6

3.9

2.3

2.7

10.22.8

56.9

6.3

6.8

24.719.1

22.5

36.718.1

23.4

IV

268.2

246.529.3

217.221.7

222.0

200.3

30.615.714.9

169.688.130.0

.4

5.4

3.2

4.0

12.15.0

58.1

7.0

7.0

24.919.2

22.6

40.218.7

21.7

1984

lr

281.6

259.529.7

229.822.1

231.8

209.7

31.115.915.2

178.692.336.1

1.6

5.2

3.5

5.0

15.85.0

56.3

7.5

7.6

21.419.7

24.7

41.220.4

22.1

Table 7.2.—Fixed-Weighted Price Indexes for Gross National Product,1972 Weights

Gross national product •

Personal consumptionexpenditures


Gross private domesticinvestment

Fixed investmentNonresidential ,

StructuresProducers' durable equipment ..

ResidentialChange in business inventories

Net exports of goods andservices

ExportsImports



State and local

Addenda:Gross domestic purchases1

Final salesFinal sales to domestic purchas-

ers1

Personal consumption expendi-tures, food

Personal consumption expendi-tures, energy

Other personal consumption ex-penditures


Nonfarm


1982

214.7

213.2181.2219.0218.9

231.5225.7246.2214.0242.4

244.1309.4

226.4230.6236.7215.0223.6

218.9214.7

218.9

217.3

363.7

198.1

214.7215.2215.2

1983

223.9

N ,-'''

221.9185.9223.3233.0

234.9230.3248.5219.9243.6

249.1298.8

236.9238.1244.0222.9236.1

227.1224.0

227.2

221.8

365.6

208.7

224.0223.7

Seasonally adjusted

1982

IV

218.7

217.4182.9221.7225.3

232.5228.6248.2217.4240.0

243.9306.1

231.4235.6241.9219.7228.6

222.7218.8

222.8

218.4

374.9

202.6

218.8218.8

1983

I

220.6

218.3183.9220.0228.5

235.6229.9248.1219.4246.5

x

245.8303.2

233.7237.0242.9221.7231.5

224.3220.6

224.3

219.5

357.0

205.1

220.6220.8

n

222.9

220.9184.8222.7231.6

235.2230.124T.5220.1244.9

c247.4298.2

235.2236.2241.8221.9234.5

226.1222.9

226.2

222.3

362.9

207.4

223.0223.0

III

225.5

223.3186.6224.4234.8

237.4230.9248.4220.8249.7

249.8299,4

238.3238.7244.7223.3238.0

228.7225.5

228.7

221.6

370.4

210.2

225.5225.6

IV

227.8

225.6188.4226.0238.0

237.9231.8249.9221.4249.5

253.5298.5

240.5240.2246.3224.7240.6

230.7227.8

230.8

223.7

372.2

212.6

227.9227.9

1984

I r

230.5

228.1188.6228.4241.3

239.0233.0251.4222.4250.4

255.0300.0

245.2245.8252.3229.2244.8

233.4230.6

233.5

230.0

366.5

214.8

230.6230.2

Table 7.1-7.2:1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic pur-

chasers equals final sales less exports plus imports.


Table 7.3.—Implicit Price Deflators for Gross National Product byMajor Type of Product

Table 7.7.—Current-Dollar Cost and Profit Per Unit of Constant-DollarGross Domestic Product of Nonfinancial Corporate Business



Goods


Durable goods ..Final salesChange in business inventories

Nondurable goods ... ....Final salesChange in business inventories

Services

Structures .

Addenda:Gross domestic purchases 1

Final sales to domestic purchas-ers 1


1982

206.88

207.2

193.6

194.5

185.7187.0

199.0199.8

212.2

251.9

209.8

210.1

1983

215.63

215.8

198.4

198.8

188.3188.8

205.9206.1

225.8

252.4

217.9

218.0

Seasonally adjusted

1982

IV

210.00

210.6

194.0

195.8

184.9188.5

199.9200.8

218.2

250.2

212.9

213.5

1983

I

212.83

213.3

196.7

198.1

184.8188.1

204.6205.1

221.3

252.0

214.7

215.1

n

214.55

214.7

197.5

198.1

186.8187.5

205.3205.9

224.5

250.9

216.8

217.0

III

216.44

216.4

198.7

198.5

189.7189.0

205.4205.5

227.1

253.1

219.2

219.2

IV

218.53

218.5

200.6

200.3

191.3190.7

208.0207.8

230.1

253.5

220.6

220.5

1984

I r

220.60

220.4

201.7

200.5

190.8189.5

210.2209.1

233.7

254.0

222.6

222.4

Table 7.4.—Implicit Price Deflators for Gross National Product bySector



NonfarmNonfarm less housingHousing

FarmStatistical discrepancy

Households and institu-tions

Private householdsNonprofit institutions

GovernmentFederalState and local

Rest of the world

Addendum:Gross domestic business product

less housing

206.88

206920602065208.918811902206.0

229223422288

207720042112

2051

2077

215.63

215621392145216/T19831925213.9

241923662423

222120872285

2147

210.00

21QO2085209321L5192 71865208.5

236423452365

214120542183

2084

212.83

2129211*32120214.21950191 2211.3

238023472383

217720782225

211 6

214.55

21462129213 5215.619711928212.9

241 123762414

220620842265

213 6

216.44

216521472153217.319941926214.7

243 023722435

223620902306

215 6

218.53

21852167217 3219.32016193 5216.7

245423682461

226420972345

2179

220.60

220621842186220.520362124218.4

246923772477

2320217 02393

220 2

Table 7.5.—Implicit Price Deflators for the Relation of Gross NationalProduct, Net National Product, and National Income


Less: Capital consumption allow-ances with CCAdj

Equals: Net national product

Less:Indirect business tax and nontax

liability plus business transferpayments less subsidies pluscurrent surplus of governmententerprises

Statistical discrepancy

Equals: National income

206.88

2210

205.1

1785

206.0

208.5

215.63

2231

214.7

1855

213.9

218.4

21000

2225

208.4

1790

208.5

212.1

212 83

2231

211.6

1819

2113

215.3

214 55

2225

213.6

1894

2129

216.6

21644

2237

215.6

1885

2147

2190

21853

2233

217.9

1823

2167

2224

22060

2238

220.2

1776

2184

225.6

Table 7.3:1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic pur-

chasers equals final sales less exports plus imports.

Table 7.7:1. Equals the deflator for gross domestic product of nonfmancial corporate business with the

decimal point shifted two places to the left.

Table 7.8:1. Consists of final sales and change in business inventories of new autos produced in the

United States.2. Consists of personal consumption expenditures, producers' durable equipment, and govern-

ment purchases.

Table 7.9:1. Includes new trucks only.

Current-dollar cost and profit per unitof constant-dollar gross domesticproduct 1

Capital consumption allowances with CCAdj ....Net domestic product

Indirect business tax and nontax liabilityplus business transfer payments less sub-sidies r

Compensation of employeesCorporate profits with

IVA and CCAdj . .Profits tax liabilityProfits after tax with IVA and CCAdj ....

Net interest

Dollars

1982

2.072

.2451.827

.2091.6181.397

.145

.048

.097

.076

1983

2.147

.2441.903

.2201.6831.418

.199

.063

.136

.066

Seasonally adjusted

1982

IV

2.097

.2541.843

.2151.6271.419

.135

.040

.095

.073

1983

I

2.123

.2521.872

.2181.6541.428

.156

.049

.108

.070

n

2.136

.2451.892

.2231.6691.416

.187

.062

.125

.066

III

2.153

.2411.911

.2211.6901.412

.214

.070

.144

.065

IV

2.172

.2381.934

.2191.7151.416

.234

.069

.165

.065

1984

lr

2.183

.2351.947

.2171.7311.423

.241

.075:166.066

Table 7.8.—Implicit Price Deflators for Auto Output

Auto output

Final salesPersonal consumption expenditures

New autosNet purchases of used autos

Producers' durable equipmentNew autosNet purchases of used autos

Net exports ...ExportsImports ..

Government purchasesChange in business

Addenda:Domestic output of new autos l

Sales of imported new autos 2


1982

173.1

173.4199.1177.8

132.4177.8

182.0241.0147.9

177.8177.8

1983

178.0

178.2206.9182.4

124.3182.5

189.5246.0150.1

183.0182.4

Seasonally adjusted

1982

IV

172.5

174.7199.9178.9

128.9178.9

182.6245.1148.5

178.4179.0

1983

I

175.0

176.0203.7181.0

128.4180.9

187.2244.3150.1

181.0180.9

II

176.0

178.0203.2181.0

127.1180.9

188.6240.2149.2

181.2181.0

HI

179.1

178.7207.8182.3

124.8182.4

192.3252.6150.8

183.1182.3

IV

180.9

179.9212.2185.1

118.3185.1

189.7247.1150.2

185.5185.1

1984

lr

183.0

181.4214.4186.3

115.1186.3

190.0246.3150.0

186.6186.3

Table 7.9.—Implicit Price Deflators for Truck Output

Truck output1

Final salesPersonal consumption expendituresProducers' durable equipmentNet exports

ExportsImports

Government purchasesChange in business inventories

212.9

213.1177.7234.9

234.9209.4235.3

216.1

215.9182.6242.5

242.4215.6242.6

213.8

213.4178.9235.9

235.8211.3235.9

216.4

217.4181.1243.3

2433215.3243.3

212.8

212.8181.0242.5

242.4215.2242.6

216.7

215.31825242.7

242 6217.2242.7

218.2

217.8185?!242.0

94?, 1214.82420

m,8221.51865247.3

247.7221.32478

Table 7.11.—Implicit Price Deflators for Personal ConsumptionExpenditures by Major Type of Product


Durable goodsMotor vehicles and partsFurniture and household equipmentOther

Nondurable goodsFoodClothing and shoesGasoline and oilOther nondurable goods

Fuel oil and coalOther

ServicesHousing ...Household operation


TransportationOther

205.3

17481913156.51813

209.02157141.135712188565.62004

21161950227.0306.3175.92154220.3

213.4

17871961157.91856

213.82209143.834592318531.32142

2243206.2241.3328.9186.02304233.6

209.0

17611920157.61827

211.22171141.53615225.5590.02068

2172200.2233.4321.0179.72208226.1

210.1

17731945157.81839

210.62187141.73312226.9541.12114

219.8202.6235.7322.8184.32246228.9

212.5

177.51937157.61842

213.42216142.93438231.1518.32134

223.1204.9242.1330.3185.62255232.4

214.7

179.1196.4157.91873

215.5220.9145.33542234.3529.92155

225.7207.4242.3327.7186.4233.4235.0

216.1

180.7199.4158.41869

215.7222.5145.23544234.8537.9216.5

228.6209.8244.8334 4187.6238.0238.1

218.1

181.1200.1157.9187.4

217.7228.6144.53397236.0552.4218.2

231.6211.824843\83 1193.9242.2241.9


Table 7.14B.—Implicit Price Deflators for Government Purchases ofGoods and Services by Type

Table 7.17.—Implicit Price Deflators for Merchandise Exports andImports by Type of Product and by End-Use Category


Federal

National defenseDurable goodsNondurable goodsServices

Compensation ofemployees

MilitaryCivilian

Other servicesStructures

NondefenseDurable goodsNondurable goods

Commodity Credit Corpo-ration inventory change

Other nondurablesServices

Compensation ofemployees

Other servicesStructures ,

State and localDurable goodsNondurable goodsServices ,

Compensation of employees...Other services ,

Structures


1982

222.5

222.0

227.7228.4488.3213.6

201.9205.7196.4234.8224.3

210.0210.0

302.0205.6

197.5218.7231.7

222.9212.8267.1218.5211.2241.0231.9

1983

235.2

233.3

237.7243.1449.2223.8

209.7212.5205.9247.1229.5

222.0215.8

308.2215.3

206.7228.5233.6

236.6219.6263.5235.5228.5257.1232.4

Seasonally adjusted

1982

IV

226.8

224.4

234.3235.1501.9219.4

207.1211.5200.9240.6222.8

205.7213.9

296.6210.3

201.9223.6231.9

228.5215.5268.7225.5218.3247.8230.1

1983

I

231.3

230.9

234.9234.8471.7221.6

208.9211.8204.8243.3225.2

221.7213.8

293.6213.7

205.6226.1233.1

231.6217.2259.4229.8222.5252.2232.2

II

234.0

232.7

236.7238.2453.8224.0

209.4212.2205.4249.3227.7

222.6215.2

294.3214.7

206.2227.7232.9

234.8219.0262.0233.6226.5255.3232.0

III

236.5

233.8

238.8246.9443.8224.3

210.0212.8206.1247.2231.6

221.7.214.9

341.7215.5

206.9229.0234.2

238.3220.4265.6237.5230.6258.5233.2

IV

239.1

235.6

240.3252.2426.5225.3

210.6213.1207.1248.6232.9

222.2219.1

302.3217.2

207.9231.1234.0

241.5221.8266.9241.3234.5262.3232.1

1984

I r

243.1

239.0

244.1253.7419.2231.1

218.0220.7214.2251.8236.2

2222219.4

281.0222.5

215.0233.4236.4

245.8223.8269.2246.1239.3266.7235.4

Table 7.16.—Implicit Price Deflators for Exports and Imports of Goodsand Services

Exports of goods and services

MerchandiseDurable goods .. . . .Nondurable goods

ServicesFactor incomeOther

Imports of goods and services

MerchandiseDurable goodsNondurable goods

ServicesFactor incomeOther


1982

236.0

257.0269.2242.4

210.0205.1218.8

278.9

306.8236.1441.3

221.4205.0237.5

1983

241.8

259.1273.6242.0

220.2214.7229.2

271.3

291.4236.3398.8

224.3214.8232.0

Seasonally adjusted

1982

IV

235.6

253.1270.0233.7

214.0208.4223.4

278.5

305.4232.7433.0

221.7208.4232.5

1983

I

238.0

254.3271.2234.7

217.4211.6226.2

265.4

283.8234.5376.9

223.1211.6232.0

II

240.2

"257.2272.8238.4

219.0213.6227.5

270.7

291.5237.6394.6

223.4213.6231.0

III

242.5

260.0274.1243.5

221.0215.5230.3

278.1

300.5236.3425.3

225.3215.5233.5

IV

246.4

264.9276.1251.3

223.4217.9232.8

270.3

289.1236.6396.4

225.4217.9231.5

1984

I r

248.4

266.9278.4252.8

225.0220.2233.3

268.0

282.7236.2383.4

227.5220.2234.1

Merchandise exports

Foods, feeds, and beveragesIndustrial supplies and

materials .Durable goodsNondurable goods

Capital goods, except autosAutosConsumer goods



Merchandise imports

Foods, feeds, and beveragesIndustrial supplies and

materials, excludingpetroleum


Petroleum and products ,Capital goods except autosAutos...Consumer goods ,



Addenda:Exports:


Imports of nonpetroleumproducts


1982

257.0

218.0

284.3284.3284.4

259.6316.7200.1250.9172.6256.8256.8256.9

306.8

239.3

286.7288.0285.3

1,206.4203.0298.3222.0192.1284.8245.3245.3245.3

218.2267.3

245.6

1983

259.1

226.5

276.1276.2276.1

264.1330.1198.8249.9172.6259.5259.5259.4

291.4

237.8

270.8270.9270.8

1,093.1201.0306.3221.9191.5280.2243.9243.9244.0

226.9267.8

243.9

Seasonally adjusted

1982

IV

253.1

205.4

277.1277.1277.1

262.2323.4197.1252.6169.0253.1253.1253.2

305.4

240.2

277.5278.8276.3

1,200.1199.4299.8220.7190.1282.7242.4242.4242.4

208.5265.0

242.7

1983

I

254.3

213.7

275.1275.0275.1

262.6325.4197.5255.9167.4254.1254.1254.1

283.8

234.3

273.6273.7273.4

1,158.6200.6302.2222.2191.8279.6243.1243.3243.0

214.3265.5

243.0

II

257.2

220.1

274.5274.5274.5

263.8327.1198.4249.9172.1257.2257.2257.2

291.5

237.2

272.2272.2272.2

1,071.3202.6304.4.222.1192.8278.4245.1245.1245.1

221.1266.8

244.8

III

260.0

229.7

274.9275.0274.9

264.7331.0200.6248.6175.3260.0260.1259.9

300.5

239.8

272.8272.9272.6

1,081.9200.9304.0221.2191.7279.4243.7243.6243.9

230.1268.1

243.9

IV

264.9

244.0

280.0280.0280.0

265.3336.0198.8245.4175.4264.9265.0264.8

289.1

240.0

265.4265.3265.5

1,081.3200.2313.3221.8189.8283.0243.8243.8243.8

242.5270.8

243.9

1984

Ir

266.9

242.5

282.6282.6282.6

266.9338.5201.1245.5177.0267.0266.9267.1

282.7

241.6

269.7270.0269.3

1,078.0200.6313.1226.2191.4287.0244.2244.2244.2

243.1273.2

244.5

Table 7.21.—Implicit Price Deflators for Inventories and Final Sales ofBusiness

Inventories 1

FarmNonfarm





Nonmerchant wholesalers ,Durable goodsNondurable goods ,


Other

Final sales 2

Final sales of goods and struc-tures


1982 1983

Seasonally adjusted

1982

IV

236.0

186.1243.3230.9261.9

244.7232.7270.0

243.8235.9259.1237.5237.1238.3277.8229.0360.6

217.0218.0216.1307.8

209.2

203.6

1983

I

236.6

194.7242.9231.8259.0

243.7232.7266.6

243.3237.8253.4238.9239.2238.4266.8230.1330.6

217.3220.1215.0308.9

211.9

206.0

II

238.3

193.1245.0234.0260.8

245.8235.1268.0

246.2240.0257.3241.3241.4241.2272.0232.9340.1

219.5222.0217.4310.7

213.1

206.0

III

241.7

197.4248.0236.7264.4

249.6238.4272.7

249.7241.5265.1244.2242.5247.5279.1235.6353.5

221.8224.6219.5310.4

214.6

207.0

IV

242.8

207.6247.8237.0263.6

249.6238.5272.6

249.6242.1263.5245.0243.3248.1274.8235.7342.8

222.5224.8220.5307.8

216.6

208.3

1984

lr

244.7

212.1249.4238.9264.7

251.7240.2275.4

250.7243.7263.5246.0244.8248.2276.3238.1342.1

224.6228.1221.6309.5

218.1

208.9

Table 7.21:1. Inventories are as of the end of the quarter.2. Business final sales equals final sales less gross product of households and institutions, gov-

ernment, and rest of the world.


Table 8.1.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price Deflators, andPrice Indexes

Gross national product:Current dollars1972 dollarsImplicit price deflatorChain price indexFixed- weighted price index .. .. ..

Personal consumption expenditures:Current dollars1972 dollarsImplicit price deflator...Chain price indexFixed-weighted price index

Durable goods:Current dollars1972 dollarsImplicit price deflators :..Chain price index ,Fixed-weighted price index ...

Nondurable goods:Current dollars1972 dollarsImplicit price deflatorChain price index ,Fixed- weighted price index

Services:Current dollars1972 dollarsImplicit price deflatorChain price indexFixed- weighted price index

Gross private domesticinvestment:

Current dollars1972 dollarsImplicit price deflatorChain price indexFixed- weighted price index ,

Fixed investment:Current dollars1972 dollarsImplicit price deflatorChain price index ,Fixed- weighted price index

Nonresidential:Current dollars1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index-Structures:

Current dollars1972 dollarsImplicit price deflatorChain price index ,Fixed-weighted price

indexProducers' durable

equipment:

1972 dollars

Chain price indexFixed-weighted price index

Residential:Current dollars1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index.

Exports:Current dollars1972 dollarsImplicit price deflatorChain price deflatorFixed-weighted price index

Imports:Current dollars1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index

Percent

1982

4.0196.06.56.4

7.31.45.85.95.7

3.5-.94.54.75.0

3.7.5

3.23.22.9

11.22.98.18.48.6

-12.7145

-3.8693.35.24.7

1 1-4.7

3.85.85.6

6.41.84.65.1

4.1

57-7.5

2.06.26.7

-13.01542.9323.1

-5.7-7.8

2.22.62.4

3614

-5.0-2.0-3.1

1983

7.73.44.24.44.3

8.34.23.94.24.1

14.311.82.22.32.6

5.73.32.32.22.0

8.92.76.06.26.5

13.912.6

9.08.4.5.6

1.5

01.4

-1.41.12.0

76-6.9

— .7-.5

.9

5.25.3

I2 32.7

43.239.4

2.7— 14P

-3.5-5.8

2.52.32.1

4.37.2

-2.7-2.2-3.4

Percent at annual rates

Seasonally adjusted

1982

IV

2.5133.85.04.7

7.83.64.15.15.1

15.115.2

^1.51.4

3.41.51.92.62.9

9.51.97.48.08.3

-38.0-34.6

3.42.7

.6

.55

60-6.6

.62.02.4

-4.0-5.5

1.61.4

2.0

74-7.1

2.42.6

46.953.2

-4.1-5.2-5.4

-25.3-24.4

1 1c!5

296-26.1-4.6-.9-.8

1983

I

8.22.65.53.63.4

5.22.92.22.31.6

10.77.62.82.12.1

2.13.2

-1.1-1.9-3.1

6.31.44.85.75.9

31.528.6

9.28.8

.42.85.4

-5.7-1.5

42.5

2.3

156-13.9-2.0-2.7

-.1

1.85.0302.83.8

75.357.311.411.211.4

6.82.44.33.63.2

-7.512.1175

-2.6-3.8

II

13.39.73.34.34.3

15.110.04.64.74.9

33.232.6

.51.11.9

12.16.45.35.35.1

13.06.46.25.25.5

53.949.8

20.521.5

g-1.0

7

5.17.9

-2.6-.5

.3

-15.3-14.9

-.52.9

1.0

20.619.8

.71.11.2

76.779.5

-1.6-2.5-2.6

.2-3.2

3.63.12.6

37.426.88.3

-3.0-6.3

III

11.57.63.64.54.7

6.52.24.24.24.4

7.63.73.73.64.1

7.83.64.12.83.1

5.3.6

4.75.45.7

53.645.1

26.222.72.92.63.7

18.818.7

.1

.71.4

11.211.10.5

1.6

23.622.01.3

L3

47.535.98.68.08.0

18.213.73.94.23.9

31.518.11131.41.5

IV

9.15.03.94.44.2

9.46.52.84.34.2

24.219.93.63.83.7

5.14.8

.32.52.8

9.13.75.25.75.7

27.527.6

17.517.9

3.6.9

28.827.21.31.01.6

7.86.81.01.4

2.4

42.736.54.6

.71.1

-7.3-6.9

.4-.3-.3

6.5-.16.66.26.1

15.629.5

-10.7-.3

-1.2

1984

I r

13.99.73.94.74.9

10.36.43.64.54.5

24.123.2

.7

.4

.4

9.15.13.84.44.5

7.72.15.55.75.6

66.263.8

17.218.41.11.01.9

13.116.1

-2.6.8

2.1

21.824.4

-2.1.8

2.4

8.513.0

-4.0.8

1.9

28.626.31.91.51.5

15.011.23.32.42.3

42.447.4

-3.42.52.0

Government purchases of goods andservices:

Current dollars1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index

Federal:Current dollars1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index

National defense:

1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index..

Nondefense:Current dollars1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index-

State and local:Current dollars1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index

Addenda:

Gross domestic purchases:Current dollars1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index

Final sales:Current dollars1972 dollarsImplicit price deflator •Chain price indexFixed-weighted price index

Final sales to domestic purchasers:Current dollars1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index

Gross domestic product:Current dollars1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index

Business:

1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index

Nonfarm:

1972 dollarsImplicit price deflatorChain price indexFixed-weighted price index.

Disposable personalincome:

Current dollars1972 dollars

Percent

1982

9.01.87.07.26.7

12.95.66.97.37.3

16.57.18.88.27.5

5.42.72.75.56.6

6.6-.57.17.16.3

4.4-1.0

5.46.05.7

5.5-.76.36.56.4

5.9.2

5.66.05.8

4.2-1.7

6.06.56.4

3.4-2.0

5.66.16.0

3.6-2.2

5.9646.1

6.3.5

1983

6.2.5

5.75.34.6

6.21.15.13.93.2

11.66.94.43.83.1

-6.011 15.74.23.7

6.206.26.15.6

8.64.63.93.93.8

7.12.84.14.44.3

8.04.13.83.93.8

7.93.54.24.44.3

8.04.03.94.14.0

8.54.43.9

7.33.2

Percent at annual rates

Seasonally adjusted

1982

IV

15.510.64.47.27.0

29.528.31.07.68.7

16.55.1

10.88.79.2

64.692.5

-14.55.07.3

6.8-.16.96.95.9

1.8-1.1

3.04.94.6

9.44.54.75.04.7

8.84.83.84.94.6

2.6-1.2

3.85.04.7

1.4-1.4

2.84.23.8

.4-3.3

3.8

6.82.6

1983

I

-1.3888.24.74.0

-8.0-18.0

12.23.82.3

7.86.51.23.11.7

-36.0-52.6

35.05.33.8

3.5-1.8

5.45.45.2

6.73.33.33.02.8

5.8.6

5.23.63.4

4.31.23.02.92.7

8.62.95.53.63.4

8.93.35.43.83.6

10.34.85.2

5.12.9

II

3.6-1.1

4.73.62.6

.3-2.8

3.2.6

-1.2

10.77.43.1

.2-1.8

-22.22351.81.5.3

5.805.85.75.3

16.912.34.13.73.4

9.86.82.84.34.3

13.39.33.73.73.4

13.59.93.24.34.3

14.911.53.04.14.1

16.112.82.9

8.23.5

III

9.04.44.45.65.3

6.64.61.94.94.2

3.603.65.34.8

14.916.9

-1.73.72.6

10.74.36.16.26.1

12.87.94.54.34.5

8.45.13.24.64.7

9.75.44.14.34.5

11.17.33.64.64.7

12.18.43.44.54.7

12.18.43.4

11.06.5

IV

.43.94.54.13.8

-5.6-8.4

3.02.32.5

10.57.82.52.42.6

-39.540 1

.92.12.5

4.6-.85.45.34.6

10.07.42.53.73.6

7.73.73.94.44.2

8.76.02.53.73.6

9.55.43.94.44.2

10.06.03.84.34.1

11.87.73.8

10.98.0

1984

I r

5.0-1.7

6.88.38.1

-3.2-8.6

5.99.99.7

13.16.36.4

10.110.1

-42.0421

.19.48.3

10.63.07.37.27.0

16.712.63.74.74.8

7.53.93.54.74.9

10.26.63.44.74.8

14.19.93.84.84.9

15.011.43.24.24.2

13.410.72.4

14.110.0

NOTE.—The implicit price deflator for GNP is a weighted average of the detailed price indexesused in the deflation of GNP. In each period, the weights are based on the composition ofconstant-dollar output in that period. In other words, the price index for each item (1972=100)is weighted by the ratio of the quantity of the item valued in 1972 prices to the total output in1972 prices. Changes in the implicit price deflator reflect both changes in prices and changes in

the composition of output. The chain price index uses as weights the composition of output inthe prior period, and therefore reflects only the change in prices between the two periods.However, comparisons of percent changes in the chain index also reflect changes in thecomposition of output. The fixed-weighted price index uses as weights the composition of outputin 1972. Accordingly, comparisons over any time span reflect only changes in prices.


Reconciliation and Other Special TablesTable 1.—Relation of Net Exports of Goods and Services in the National

Income and Products Accounts (NIPA's) to Balance on Goods andServices in the Balance of Payments Accounts (BPA's)


Line

123

456

78

910

11121314

15

17

181920

21

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

Capital gains net of losses in directinvestment income receipts.

Statistical differences l

Other itemsEquals: Exports of goods and services,

NIPA's.

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

ernment liabilities.Gold, BPA'sCapital gains net of losses in direct

investment income payments.Statistical differences 1 ..Other items

Plus- Gold NIPA'sEquals: Imports of goods and services,

NIPA's.

Balance on goods and services, BPA's (1-7).

Less- Gold (2-9 + 13)Capital gains net of losses in direct

investment income (3-10).Statistical differences (4-11)Other items (5-12)

Plus: Payments of income on U.S. Gov-ernment liabilities (8).

Equals: Net exports of goods and services,NIPA's (6-14).

1983

332.21.7

-6.5

1.3.3

335.4

365.117.7

2.4.6

0

0344.4

-32.9

7-7.2

1.2.3

17.7

-9.0


1983

I

324.42.7

-7.1

1.8.2

326.9

329.917.6

2.31.2

10

0309.9

-5.5

.4-8.2

2.8.2

17.6

17.0

II

325.41.6

-4.7

1.1.3

327.1

356.317.3

2.91.5

-1.1

0335.6

-30.8

13-6.2

2.1.3

17.3

-8.5

III

339.31.3

-5.3

1.7.5

341.1

378.117.7

2.3-.2

-1.0

.1359.4

-38.8

10-5.1

2,8.5

17.7

-18.3

IV

339.61.2

-9.1

.6

.4346.5

296.118.1

2.1.1

3.3

0372.6

-56.5

9-9.2

-2.7.4

18.1

-26.1

1984

I

362.51.51.0

.6

.7358.8

431.518.4

2.8.1

3.3

.2407.0

-69.0

-1.2.9

-2.7.7

18.4

-48.2

1. Consists of statistical revisions in the BPA's that have not yet been incorporated in theNIPA's.

NOTE.—Lines from the balance of payments accounts are revised and are as shown later inthe Survey.

Table 2.—Real Gross National Product and National Income, CommandOver Goods and Services, and Related Series


GNPGross domestic purchasesNet exports of goods and services

National income

Command, GNP basisGross domestic purchasesNet exports of goods and services l

Command, National income basis

GNPCommand, GNP basisNational incomeCommand, national income basis .

Addendum:Terms of trade 2

1983

1,535.31,523.5

11.81,213.4

1,520.21,523.5

-3.31,200.1


1983

I

1,490.11,469.6

20.51,174.2

1,476.01,469.6

6.41,161.6

II

1,525.11,512.8

12.31,206.1

1,509.71,512.8

-3.11,192.5

III

1,553.41,542.0

11.41,227.1

1,535.41,542.0

-6.61,211.2

IV

1,572.51,569.7

2.81,246.3

1,560.01,569.7

-9.71,235.2

1984

I

1,609.31,616.8

-7.51,278.2

1,598.81,616.8-18.0

1,268.9

Percent change from preceding period

3.43.93.23.9

89.1

2.64.52.75.0

89.7

9.79.5

11.311.1

88.7

7.67.07.26.4

87.2

5.06.66.48.2

91.2

9.710.310.611.3

92.7

1. Equals current-dollar net exports of goods and services deflated by the implicit pricedeflator for imports of goods and services.

2. Equals the ratio of the implicit price deflator for exports of goods and services to theimplicit price deflator for imports of goods and services.

By ROBERT P. PARKER

Improved Adjustments for Misreporting ofTax Return Information Used to Estimate

the National Income and Product Accounts, 1977

INFORMATION from tax returns isa major data source used to estimatethe national income and product ac-counts (NIPA's). BEA has been awareof deficiencies in this informationcaused by misreporting by taxpayersand for many years has made adjust-ments to reduce the effects of misre-porting on the NIPA's. However, theadequacy of these adjustments hasbecome a matter of concern, reflect-ing increased interest in the extent oftax evasion and other aspects of theunderground economy.1 Recently, in-formation from studies by BEA andother Government agencies on theimpact of the underground economyon NIPA source data provided thebasis for substantial improvements inBEA's adjustments.

The improved adjustments are atpresent available only for 1977, Theywere incorporated in the input-outputtables and preliminary revisedNIPA's for 1977 that were presentedin last month's issue of the SURVEY OFCURRENT BUSINESS. They will be ex-tended to earlier and later periods forincorporation in the NIPA's in thecomprehensive revision scheduled forthe end of 1985.

Introduction

Tax return information

BEA's adjustments for taxpayermisreporting pertain to informationon Federal income tax returns, both

1. See Carol S. Carson, "The Underground Economy:An Introduction," SURVEY OF CURRENT BUSINESS 64(May 1984):21-37.

business (corporate, partnership, andsole proprietorship) and individual,and on employment tax returns. Theinformation on these returns is avail-able to BEA in the form of statisticaltabulations. For Federal income taxreturns, the Internal Revenue Service(IRS) tabulates a sample of eachmajor type of return. These tabula-tions, which cover most items report-ed on the return—types of income, ex-penses, etc.—as well as those on thesupporting schedules, are publishedannually in Statistics of Income (SOI).For employment tax returns that em-ployers file with State EmploymentSecurity Agencies, the wage andsalary item is tabulated by theBureau of Labor Statistics (BLS) incooperation with the State agenciesand is published annually in Employ-ment and Wages.

In addition to the tax return tabu-lations used directly by BEA, taxreturn information enters the NIPA'sindirectly by way of the quinquennialeconomic censuses, such as the censusof manufactures. In these censuses,the Census Bureau uses tax return in-formation to define the universe to becovered and to provide data on theemployment, payroll, and receipts ofsmall firms that are not sent a censusreport form.2

Misreporting

Because taxpayers use a variety ofmethods to evade taxes, misreporting

2. For a discussion of the use of tax return informa-tion in the 1977 economic censuses, see U.S. Depart-ment of Commerce, Bureau of the Census, History ofthe 1977 Economic Censuses (Washington, D.C., U.S.GPO, 1980), pp. 15-23.

affects both the income and expenseitems used to prepare the NIPA esti-mates. For example, a business mayevade income tax either by underre-porting receipts, overreporting ex-penses, or both. The underreportingof receipts leads to an understatementin net income in the tax return tabu-lation and in the related NIPA com-ponent, as does overreporting of ex-penses. At the same time, the overre-porting of certain expenses, such asinterest or rent, leads to an overstate-ment in the related NIPA component.

A business may evade social securi-ty and unemployment insurance taxesby, for example, paying wages "off thebooks/' To avoid detection, it mustunderreport wages on both its incomeand employment tax returns. In turn,to avoid overreporting net income, itmust underreport receipts or over-report expenses other than wages, orboth. The underreporting of wages onthe employment tax return leads toan understatement of wages and sala-ries in the NIPA's, and, dependingupon the item, the offsetting overre-porting of expenses leads to an over-statement in a NIPA component.

Most misreporting clearly stemsfrom the desire of the taxpayer toevade taxes. Some misreporting, how-ever, results from taxpayers' errors ormisinterpretation of tax laws. BEA'sadjustments do not distinguish amongreasons for misreporting.

Use of tax return information in theNIPA's

Tax return information is used ex-tensively in estimating the NIPA's.

17

445-525 0 - 8 4 - 5


Table 1.—National Income and Product Accounts: Preliminary Revised Estimates and AmountDerived From Tax Return Information, 1977


Gross national product .. ...


Durable goodsNondurable goods .Services

Gross private domestic investment

Fixed investment . . . . . .Nonresidential

Structures . .Producers' durable equipment

ResidentialChange in business inventories ,

NonfarmFarm

Net exports of goods and services

ExportsImports ..


FederalState and local .

Charges against gross national product ..

Compensation of employees

Wages and salariesGovernment and government enterprisesOther

Supplements to wages and salariesEmployer contributions for social insurance ..Other labor income

Proprietors' income with inventory valuation and capital consumption adjustments

FarmProprietors' income with inventory valuation adjustment ,Capital consumption adjustment ...

NonfarmProprietors' income . .Inventory valuation adjustment '.Capital consumption adjustment

Rental income of persons with capital consumption adjustmentRental income of personsCapital consumption adjustment

Corporate profits with inventory valuation and capital consumption adjustments

Profits before taxInventory valuation adjustmentCapital consumption adjustment

Net interest ... .. .'

Less: Current surplus of government enterprises less subsidiesBusiness transfer paymentsIndirect business tax and nontax liability

Capital consumption allowances with capital consumption adjustmentCapital consumption allowancesLess* Capital consumption adjustment

Personal income

Wage and salary disbursementsOther labor income

Proprietors' income with inventory valuation and capital consumption adjustmentsRental income of persons with capital consumption adjustmentPersonal dividend incomePersonal interest income

Transfer payments to persons .. .From businessFrom government

Less* Personal contributions for social insurance

Prelimi-nary

revisedestimates

1,976.6

1,246.5

184.4490.55716

336.6

314.9213566.0

1475101.421.720.71.1

-2.1

185.3187.4

395.6

143.4252.2

1,972.4

1,165.6

994.9202.4792.5170779.6911

151.4

20.825.0

-4.3130.71327-1.2- 8

147338

-19.1

166.8

194.3-16.2— 11.3

107 1

3.086

166.0

195.21574378

1,596.1

994.9911

151.414.7396

157.2

20848.6

199.8

613

Amountderived

from taxreturn

informa-tion1

87.7

78.1

11.124.3427

9.7

3.23.0030

.26.56.50

0

00

0

00

1,103.7

803.1

764.70

764.738.40

384

131.9

000

131.9132.7

0-.8

8.4840

150.3

161.60

-11.3

5.3

04.50

2 01309120

987.0

764.7384

131.98.4

3365.3

4.54.50

o

1. Government receipts that are derived from tax return information are not included as such in this table. They are notincluded because the focus of this article is on NIPA estimates for which adjustments for taxpayer misreporting are needed tobring NIPA estimates up to actual levels. Adjustments for government receipts (or their counterentries) in the NIPA's are hotneeded because such receipts as obtained from their data sources are already at actual levels.

2. As indicated by the $0, tax return information is not used to prepare the estimate for this component even though taxreturn information is used for parts of the two components that comprise it. For capital consumption allowances, $130.9 billion isderived from tax return information. The capital consumption adjustment is derived as the difference between capitalconsumption allowances with capital consumption adjustment and capital consumption allowances. The —$12.0 billion derivedfrom tax return information is the part of that difference associated with the part of capital consumption allowances derived fromtax return information.

About one-half of charges againstGNP, three-fifths of personal income,and 5 percent of GNP are derivedfrom tax returns. The extent of theuse of tax return information in thepreliminary revised NIPA estimatesfor 1977 is shown in table 1.

Tax return tabulations are the bestsource available for estimating manyNIPA components. The tax return in-formation is well suited for use in theNIPA's because:

• The definitions of the items inthe tax returns are close to thoseof the related NIPA components;

• The tax return information con-tains considerable detail on re-ceipts and expenses that havecounterparts in the NIPA's;

• The detail on receipts and ex-penses is internally consistent;

• The tax return information iscomprehensive in its coverage oflegal forms of organization and ofindustries.

Further, the accuracy of the infor-mation in the tabulations used for theNIPA's is judged by BEA to be superi-or to that of either actual alternativesor alternatives that might be devel-oped at reasonable cost. Statisticalsurveys—the major alternative—arecostly to conduct, a burden on re-spondents, and subject to severaltypes of error, including samplingerrors, bias, and nonresponse. In par-ticular, information on the income ofindividuals is difficult to collect insurveys. Many persons misstateincome because of inaccurate recall orlack of ready access to financialrecords. Some who misreport incomeon their tax returns will also misre-port it in a survey. Others will refuseto answer questions about income in aGovernment survey.

One reason for BEA's judgmentabout the accuracy of the tax returninformation used in the NIPA's isthat, for all except one component,BEA uses business tax returns, which,in general, are subject to substantial-ly less misreporting than are individ-ual tax returns. Wages and salaries,for example, are estimated from theemployment tax returns filed by busi-ness, rather than from the income taxreturns filed by employees. Table 2lists the NIPA components derived di-rectly and indirectly from tax returninformation and the sources of thatinformation.


Improved adjustmentsThe improved adjustments incorpo-

rate newly available informationabout the extent of underreporting ofincome and about the failure to fileincome and employment tax returns.As shown in table 3, they are consid-erably larger than the previous ad-justments. The adjustment for non-farm proprietors' income was revised

from $13 billion to $59 billion, and ad-justments of $22 billion for personalconsumption expenditures and $11billion for wages and salaries were in-troduced.

The BEA adjustments are designedfor a specific purpose—to correct forthe effects of taxpayer misreportingin the tax return tabulations and eco-nomic census data used in the

Table 2.—Sources of Tax Return Information Used To Prepare Estimates of the National Incomeand Product Accounts, 1977

Component


Personal consumption expenditures:

Durable goods

Nondurable goods

Services

Gross private domestic investment:

Nonresidential producers' durableequipment

Residential fixed investment

Change in nonfarm business invento-ries.....

Charges against gross national product

Wages and salaries

Other labor income

Nonfarm proprietors' income

Nonfarm proprietors' capital consumptionadjustment

Rental income of persons

Corporate profits before tax

Corporate capital consumption adjust-ment . . . . .

Net interest

Business transfer payments

Capital consumption allowances with cap-tial consumption adjustment

Personal income

Personal dividend income

Part of component estimated using tax return information

All durable goods

All nondurable goods except gasoline and oil, fuel oil and coal, prescrip-tion drugs, food furnished employees, food produced on farms, and netforeign remittances . . .

Services covered in economic censuses (primarily hotels and motels;automobile repair; beauty salons and barbershops; hospitals; profes-sional services; recreational services; educational services; and welfareservices)

Financial services furnished without payment by investment companies....

All producers' durable equipment except valves

Producers' durable equipment and mobile homes

Change in book value for construction* transportation and public utili-ties* finance insurance and real estate* and services . ..

All private industries, except farm, railroad transportation, privatehouseholds and all tips

Contributions to private pension and profit-sharing plans

All industries

All industries

Royalties .

Nonfarm nonresidential properties

All domestic industries except Federal Reserve banks other federallysponsored credit agencies, and mutual depository institutions; andState and local corporate profit tax accruals

All industries

Domestic net monetary interest of corporations, sole proprietorships, andpartnerships

Imputed interest paid by investment companies

Imputed interest paid by life insurance companies

Corporate donations

Consumer bad debt

Corporate capital consumption allowancesNonfarm sole proprietorship and partnership capital consumption allow-

ances

All domestic industries except Federal Reserve banks other federallysponsored credit agencies, private noninsured pension funds, andcredit unions

Source oftax returninforma-

tion 1

A

A

AB

A

A

B, C

D

B, C

c

C

E

B, C

B

B

B, C

B

B

B

B, C

B

c

B

1. Sources: A - Various reports from the 1977 economic censuses. In these censuses, tax return information is used to definethe universe to be covered and to provide employment, payroll, and receipts data for small firms that are not sent a census reportform.

B - Statistics of Income—1977, Corporation Income Tax Returns—tabulations of IRS form 1120 series.C - Statistics of Income—1977, Sole Proprietorship Returns—tabulations of IRS form 1040 schedule C, and Statistics of

Income—1977, Partnership Returns—tabulations of IRS form 1065.D - Employment and Wages-—1977—tabulations of employment tax returns submitted to State Employment Security Agencies.E - Statistics of Income—1977, Individual Income Tax Returns—tabulations of IRS form 1040.

NIPA's. The BEA adjustments do notmeasure all income on which taxesare evaded. The major reason is thatnot all income types reported on taxreturns are used in estimating theNIPA's. Neither do the BEA adjust-ments measure the undergroundeconomy. For example, they do notcover illegal activities, which are partof the underground economy but areexcluded from the NIPA's.

Previous AdjustmentsThe previous adjustments for misre-

porting, which are incorporated in thepublished NIPA time series, are forfive components: nonfarm proprietors'income, rental income of persons, netinterest, capital consumption allow-ances, and corporate profits beforetax. For net interest and capital con-sumption allowances, the adjustmentswere made only to the noncorporateparts. Adjustments for these two com-ponents and for nonfarm proprietors'income and rental income of personswere prepared from information pro-vided in the IRS Taxpayer Compli-ance Measurement Program (TCMP).The adjustment for corporate profitsbefore tax was prepared from IRS in-formation on the additional tax as-sessments resulting from audits.

No adjustments were made in theremaining components listed in table2. The noncorporate parts of otherlabor income, business transfer pay-ments, and change in nonfarm inven-tories were not adjusted because in-formation from the TCMP showedthat they were not needed. The corpo-rate parts of these components, thecorporate parts of capital consump-tion allowances and of net interest(including that of investment compa-nies, which also is in personal con-sumption expenditures), and personaldividend income were not adjusted be-cause information on income and ex-pense items was not available fromthe corporate audits. Wages and sala-ries were not adjusted for the use ofinformation from employment tax re-turns because IRS studies did not in-dicate that adjustments were needed.Finally, components for which the es-timates were derived from the eco-nomic censuses were not adjusted be-cause BEA overlooked the need tomake adjustments.


Adjustments based on the TCMP

The previous adjustments for 1977were based on information from the1976 TCMP, which was an intensiveaudit of a random stratified sample ofindividual income tax returns. Theaudits included all types of income re-ported on individual tax returns andthe detailed income and expenseitems reported by sole proprietor-ships.

In general, the BEA adjustment foreach NIPA component was based onan "audit ratio"—the ratio of theamount that the IRS auditors deter-mined was misreported for an item tothe amount originally reported on thereturn. The adjustment was calculat-ed by multiplying the audit ratio bythe total amount for the item as tabu-lated in the 1977 SOL This procedure

assumed that (1) the extent of misre-porting in 1977 was the same as in1976, and (2) the extent of misreport-ing for nonfarm partnerships, whichwere not audited in the TCMP, wasthe same as that for sole proprietor-ships.

Nonfarm proprietors' income.—Non-farm proprietors' income was adjustedup $14.7 billion for 1977. For each in-dustry, separate adjustments werecalculated for gross receipts and fortotal expenses (gross receipts less netincome) by multiplying the TCMPaudit ratios by the totals of receiptsand of expenses for sole proprietor-ships and partnerships from the 1977SOL The adjustment for nonfarm pro-prietors' income was then obtained asthe difference between the adjust-ments for gross receipts and for totalexpenses. The adjustment is included

Table 3.—BEA Adjustments for Misreporting of Tax Return Information in the National Incomeand Product Accounts, 1977



Personal consumption expendituresDurable goodsNondurable goodsServices .

Gross private domestic investmentFixed investmentChange in business inventories

Net exports. ..Government purchases of goods and services


Compensation of employeesWages and salaries

Employer contributions for social insuranceOther labor income

Proprietors' income with inventory valuation and capital consumption adjustments....Farm . .Nonfarm

Proprietors' incomeInventory valuation adjustmentCapital consumption adjustment

Rental income of persons with capital consumption adjustmentRental income of persons • .Capital consumption adjustment

Corporate profits with inventory valuation and capital consumption adjustmentsProfits before taxInventory valuation adjustmentCapital consumption adjustment

Net interest

Less* Current surplus of government enterprises less subsidies....Business transfer paymentsIndirect business tax and nontax liability ..Capital consumption allowances with capital consumption adjustment

Capital consumption allowancesLess*. Capital consumption adjustment ....

Personal income

Wages and salary disbursementsOther labor incomeProprietors' income with inventory valuation and capital consumption adjustments...Rental income of persons with capital consumption adjustmentPersonal dividend incomePersonal interest incomeTransfer payments to personsLess* Personal contributions for social insurance

Prelimi-nary

revisedestimates

1,976.6

1,246.5184.4490.5571.6336.6314.9

21.7-2.1395.6

1,972.4

1,165.6994.9170.779.691.1

151.420.8

130.7132.7-1.2-.814.733.8

-19.1166.8194.3

-16.2-11.3107.1

3.08.6

166.0195.2157.4

-37.8

1,596.1

994.991.1

151.414.739.6

157.2208.4

61.3

Adjustments for misreporting

Im-provedadjust-ment

21.8

21.61.97.5

12.2.2.2

0n.a.n.a.

81.5

11.311.30n.a.0

59.4n.a.59.461.2n.a.

-1.710

-1.0n.a.12.212.2n.a.0

.5

n.a.0

n.a.n.a.

-1.7-1.7

69.3

11.30

59.4-1.0

0-.50

" n.a.

Previousadjust-ment

0

0000000n.a.n.a.

23.7

000n.a.0

13.0n.a.13.014.7n.a.

-1.7-1.0-1.0n.a.12.212.2n.a.0

.5

n.a.0n.a.n.a.

-1.7-1.7

11.5

00

13.0-1.0

0-.50n.a.

Revision

21.8

21.61.97.5

12.2.2.2

0n.a.n.a.

57.8

11.311.30n.a.0

46.5n.a.46.546.5n.a.0(*)(*)

n.a.00n.a.00

n.a.0n.a.n.a.00

57.8

11.30

46.5(*)00n.a.n.a.

n.a. Not applicable.*Less than $0.1 billion.

in line 2 of NIPA table 8.10, whichappears in the July issue of theSURVEY and shows the relationshipbetween the SOI and NIPA measuresof nonfarm proprietors' income.

Rental income of persons.—Rentalincome of persons was adjusted down$1.0 billion for 1977. The adjustmentpertains to royalties as reported onindividual tax returns and rentalincome from nonfarm nonresidentialproperties. For royalties, the adjust-ment added $0.3 billion; it was calcu-lated by multiplying the TCMP auditratio for royalties by the correspond-ing royalties figure from SOL Forrental income from nonfarm nonresi-dential properties, which is obtainedmainly by subtracting rents receivedby business from rents paid by busi-ness, the adjustment subtracted $1.3billion. For sole proprietorships andpartnerships, separate adjustmentswere calculated for receipts and forpayments by multiplying the TCMPaudit ratios by the SOI totals. For cor-porations, no adjustments were calcu-lated because the necessary informa-tion was not available. The downwardadjustment reflects a larger amountof underreporting of rents receivedthan overreporting of rents paid.

Net interest.—Net interest was ad-justed down $0.5 billion for 1977. Theadjustment, which pertains to mone-tary interest paid by nonfarm soleproprietorships and partnerships, wasobtained by multiplying the TCMPaudit ratio by the SOI total. No ad-justment was made for monetary in-terest received by nonfarm sole pro-prietorships and partnerships be-cause, except for a small amount ofinterest received by noncorporatebusinesses engaged in financial activi-ties, all such interest in the NIPA'saccrues to persons rather than tobusiness.

Capital consumption allowancesand capital consumption adjustment(CCAdj).—The estimate of capital con-sumption allowances, which is derivedmainly from depreciation as tabulatedin the SOI, was adjusted down $1.7billion for 1977. The adjustment wascalculated by multiplying the TCMPaudit ratio for depreciation by theSOI total for nonfarm sole proprietor-ships and partnerships. The $1.7 bil-lion adjustment is reflected also inthe CCAdj because the CCAdj is ob-tained as the difference between cap-ital consumption allowances with


CCAdj, which is not based on taxreturn information, and capital con-sumption allowances.

Adjustment based on corporate audits

The previous adjustment for misre-porting increased the estimate of cor-porate profits before tax by $12.2 bil-lion for 1977. It is included in line 2 ofNIPA table 8.12, which shows the re-lationship between the SOI and NIPAmeasures of corporate profits. It wasbased on IRS information on addition-al tax assessments for 1977, and wascalculated in two parts: for corpora-tions reporting a profit and for thosereporting a loss.

For corporations reporting a profit,the adjustment was calculated as fol-lows: (1) The value of the IRS audi-tor's recommended assessment perreturn, classified by corporate assetsize, was reduced by the overall ratioof actual settlements to recommenda-tions to derive actual settlements. (2)The estimates of actual settlementswere "blown up" to universe totals bymultiplying them by the number ofcorporate tax returns with income, bysize class, as published in SOL (3) Theestimated universe totals of settle-ments were divided by the applicablecorporate tax rate to obtain the esti-mate of additional profits.

For corporations reporting a loss,the adjustment was calculated bymultiplying total losses, as publishedin SOI, by an estimate, based on frag-mentary information from IRS, of thepercentage by which losses were re-duced during audit.

Nefw Information onMisreporting

Studies at IRS and the CensusBureau have provided new informa-tion about the extent of underreport-ing on tax returns and of the failureto file income and employment tax re-turns. The information about theextent of underreporting was fromIRS research on the TCMP auditors'ability to detect unreported income in1976, and from an IRS examination ofthe underreporting of wages and sala-ries on the employment tax returnsin the 1979 TCMP. Information onthe extent to which businesses and in-

dividuals failed to file tax returns wasdeveloped from the Census Bureau'sevaluation of the coverage of its sur-veys.

Underreporting on income tax returns

The starting point of the IRS re-search was the TCMP-Information Re-turns Program (the TCMP-IRP).3 Inthis study, conducted after the 1976TCMP audits were completed, IRSused information returns to assess theauditors' ability to detect unreportedincome. Information returns are re-ports that must be filed with IRS bypayers of certain types of income—forexample, form W-2 for wages and sal-aries paid by employers and form1099 for interest paid by banks. For asample of tax returns included in the1976 TCMP, IRS compared theamount of each type of income report-ed on these forms with that reportedby the taxpayer and established bythe auditor. The study showed that,for the income types covered—mainlywages and salaries, interest, and divi-dends—the TCMP auditors detected$1 of every $4 of unreported income.

IRS conducted additional researchon income types not included in theTCMP-IRP study. For business in-comes (mainly rental income and in-comes of partnerships, sole proprietor-ships, and small business corpora-tions), IRS concluded that auditors de-tected $1 of every $3% of unreportedgross profits—that is, gross receiptsless cost of goods sold. Because IRSaudit studies indicated that business-es that understated receipts also un-derstated cost of goods sold in order toavoid reporting a suspicious sales/gross profits relationship, IRS furtherconcluded that auditors detected simi-lar proportions of both unreportedgross receipts and unreported cost ofgoods sold. In contrast, for deduc-tions—that is, expenses other thancost of goods sold—IRS concluded thatthe auditors were able to detect alloverreporting. From these conclu-sions, it can be inferred that auditorsdetected a higher proportion of misre-porting for net income—that is, grossprofits less deductions, an aggregate

that approximates the concept used inthe NIPA's—than for gross profits.4

The IRS view about the extent ofunderreporting of business receiptstends to be confirmed by evaluationstudies of the 1977 economic censuses.For these studies, the Census Bureauconducted special surveys that collect-ed receipts for samples of small firmsfor which tax return information hadbeen used in the economic censuses.The receipts as reported in these sur-veys were compared with receipts asreported on a firm's tax return. Thesecomparisons showed that small firmsconsistently reported larger receiptsto the Census Bureau than they re-ported to IRS.5 The underreporting ofreceipts to IRS indicated in the sur-veys was about the same as the totalunderreporting indicated by the IRSresearch.

Underreporting on employment tax re-turns

In the 1979 TCMP, IRS audited thereporting of wages and salaries bysole proprietorships and by small cor-porations (those with assets of lessthan $10 million) on the return usedto report Federal unemployment in-surance taxes (form 940). The auditorsdetected both underreporting on, andfailure to file, these returns. The in-formation on wages and salaries re-ported on these returns is essentiallythe same as that reported to the StateEmployment Security Agencies (andused by BEA for the NIPA estimates).Because of administrative links be-tween the Federal and State unem-ployment insurance programs, itseems likely that the audit ratio forthe Federal returns in the 1979TCMP is applicable to the returnsfiled with the State agencies. Itshould be noted that IRS has not as-sessed the auditors' ability to detectmisreporting on the employment taxreturns, as it did for income tax re-turns in the TCMP-IRP study.

3. For a synopsis of the TCMP-IRP, see table 2 inCarson, "Underground Economy."

4. The TCMP-IRP study and subsequent research atIRS are described in U.S. Department of the Treasury,Internal Revenue Service, Income Tax Compliance Re-search: Estimates for 1973-1981 (July 1983), pp. 51-57.

5. Carol S. King and Edward K. Ricketts, "Evalua-tion of the Use of Administrative Record Data in theEconomic Censuses," paper presented at the 1980annual meeting of the American Statistical Associa-tion, Houston, Texas, August 11-14, 1980.


Table 4.—Sources of Revision in BEA Adjustments for Misreporting of Tax Return Informationin the National Income and Product Accounts, 1977


Components derived from tax return information


Personal consumption expendituresFixed investmentChange in business inventories


Wages and salariesOther labor incomeNonfarm proprietors' income with IVA and CCAdjRental income of persons with CCAdjCorporate profits with IVA and CCAdjNet interestBusiness transfer payments

Personal income

Wage and salary disbursementsOther labor incomeNonfarm proprietors' income with IVA and CCAdjRental income of persons with CCAdjPersonal dividend incomePersonal interest incomeBusiness transfer payments

Revi-sion

21.8

21.6.2

0

57.8

11.30

46.5(*)

000

57.8

11.30

46.5(*)

000

Sources of revision

Income taxreturns

Fileradjust-ment

11.0

10.9.1

0

38.5

n.a.0

38.5(*)

000

38.5

n.a.0

38.5(')

000

Non-filer

adjust-ment

10.8

10.8.1

0

8.0

n.a.08.00000

8.0

n.a.08.00000

Employment taxreturns

Fileradjust-ment

n.a.

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

7.6

7.6n.a.n.a.n.a.n.a.n.a.n.a.

7.6


Non-filer

adjust-ment

n.a.

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

3.6


3.6


IVA Inventory valuation adjustment.CCAdj Capital consumption adjustment,n.a. Not applicable.'Less than $0.1 billion.

Nonfiling of tax returns

For incomes earned by persons in1972 and in 1977, the Census Bureauevaluated the reporting in the annualincome supplement to the CurrentPopulation Survey (CPS). For eachyear, Census prepared "exact-match"files of CPS records, selected itemsfrom individual income tax returns,and earnings and benefits from SocialSecurity Administration (SSA)records.6 From these files, tabulationswere prepared of the incomes of "non-filers," that is, persons who did notfile an income tax return, but whoearned income as evidenced by the in-formation they supplied to the CPS.(Persons who filed a tax return wereclassified as "filers," even if they didnot report to IRS all the income typesthat they reported to the CPS.) BEA

6. For a synopsis of the exact match, see table 2 inCarson, "Underground Economy." For technical de-scriptions of the 1972 and 1977 studies, respectively,see U.S. Department of Health and Human Services,SSA, "Methods of Estimation for the 1973 Exact-Match Study," by Frederick Scheuren, H. Lock Oh,Linda Vogel, and Robert Yuskavage, Report No. 10,Studies from Interagency Data Linkages, PublicationNo. 13-11750, and U.S. Department of Commerce,Bureau of the Census, Current Population Survey(CPS); Social Security Summary Earnings (SER) Exact-Match File, March 1978, Machine-Readable Data Fileand Technical Documentation (1981).

used the tabulation of nonfarm soleproprietorship and partnershipincome.

Another evaluation study of the1977 economic censuses, which provid-ed an indirect check on the proce-dures used in the exact match, tendedto confirm the extent of nonfiling ofincome tax returns by nonfarm soleproprietorships and partnerships.7 In-formation from the study establishedthat the extent of nonfiling in theexact-match files was consistent withthe shortfall in the universe estab-lished by the Census Bureau on thebasis of tax return information pro-vided by IRS.

Information about the failure ofsole proprietorships and partnershipsto file employment tax returns camefrom an examination by BEA of thisevaluation study together with theexact match. The study identifiedfirms that failed to file reports in theeconomic censuses, that is, firms thatwere not in the universe because theyhad filed neither income nor employ-ment tax returns. The exact matchidentified firms that had not filed

7. U.S. Department of Commerce, Bureau of theCensus, "Survey of Sole Proprietors," by Kirk M.Wolter, 1977 Economic Census Evaluation Study C3(December 1982).

income tax returns. The examinationshowed that employers who did notfile an income tax return also did notfile an employment tax return.

Improved Adjustments

The information described in theprevious section was used to developor improve adjustments for five NIPAcomponents. These adjustments—which are for wages and salaries, non-farm proprietors' income, rentalincome of persons, personal consump-tion expenditures, and fixed invest-ment—are shown in table 3 in thecolumn labeled "improved adjust-ment."

The adjustments for the noncorpor-ate parts of net interest and capitalconsumption allowances and for cor-porate profits before tax were not re-vised because no additional informa-tion was available. For these adjust-ments, the improved and previous ad-justments shown in table 3 are thesame. For the remaining componentsor parts of components derived fromtax return information, either new in-formation indicated that adjustmentswere not needed or information wasnot available on which to base an ad-justment.

The contribution of each type ofnew information to the revisions inthe adjustments is shown in table 4.Under the heading "income tax re-turns," the column labeled "filer ad-justment" shows the revision based onthe information on underreportingprovided by the IRS research thatwas related to the 1976 TCMP-IRPstudy. The column labeled "nonfileradjustment" shows the revision ba.sedon the information on nonfiling pro-vided by the Census Bureau exact-match study. Under the heading "em-ployment tax returns," the column la-beled "filer adjustment" shows the re-vision based on the information onunderreporting provided by the 1979TCMP audit, and the column labeled"nonfiler adjustment" shows the revi-sion based on the information provid-ed by BEA's examination of the eval-uation study and the exact match.

Wages and salaries

The adjustment for misreporting in-creased wages and salaries $11.3 bil-


lion. The filer adjustment contributed$7.6 billion and the nonfiler adjust-ment, $3.6 billion.

Filer adjustment.—The filer adjust-ment was based on the 1979 TCMPaudit of employment tax returns. Itwas calculated in two steps and pro-vided separate adjustments for wagesand salaries paid by nonfarm sole pro-prietorships and partnerships and bycorporations. The first step consistedof applying an audit ratio to BEA'sestimates of wages and salaries.8 Forsole proprietorships and partnerships,the ratio was from the TCMP for soleproprietorships. For corporations,BEA derived an audit ratio, becausethe TCMP audit ratio covered onlysmall corporations. The ratio wasbased on the assumption that largecorporations fully report wages andsalaries on employment tax returns.It was calculated by dividing theamount of wages and salaries that theTCMP auditors determined was un-derreported by small corporations bythe BEA estimate of wages and sala-ries for all nonfarm corporations. Itwas assumed in the derivation that (1)the audit ratios for 1979 apply to1977, and (2) the audit ratio for non-farm sole proprietorships applies topartnerships.

In the second step, BEA made anallowance for the likelihood that theTCMP auditors did not detect all un-derreporting. It was apparent that theallowance should be at least as muchas that found for underreportedincome in the TCMP-IRP study ($1detected of every $3% of unreportedincome) and that the allowanceshould compensate for the TCMPauditors' lack of experience with em-plqyment tax returns. Therefore, anallowance of $1 of every $5 was ap-plied to sole proprietorships and part-nerships and to small corporations.

Nonfiler adjustment.—The nonfileradjustment was based on BEA's find-ing that the sole proprietorships andpartnerships (with employees) whodid not file an income tax return alsodid not file an employment taxreturn. It was calculated indirectlybecause information on wages paid bynonfilers was not available in theexact match. Starting with the netincome of nonfilers in the exact

match, BEA first estimated receipts.The estimate was made by multiply-ing the net income of nonfilers ineach industry by the ratio of receiptsto net income for sole proprietorshipsand partnerships with income fromthe 1977 SO/.9 The estimate of wagesand salaries of nonfilers was thenmade by multiplying the estimatedreceipts by the ratio of payroll to re-ceipts for small firms. For industriesincluded in the 1977 economic cen-suses, the ratio was calculated usinginformation on small firms. For otherindustries, it was calculated usingcensus SOI information for small soleproprietorships and partnerships.

This adjustment is limited to soleproprietorships and partnerships thatdid not file an income tax return. Anadjustment for sole proprietorshipsand partnerships and small corpora-tions that filed an income tax return,but not an employment tax return, isincluded in the filer adjustment.

Nonfarm proprietors9 income

The revision in the adjustment in-creased nonfarm proprietors' income$46.5 billion. The filer adjustmentcontributed $38.5 billion and the non-filer adjustment, $8.0 billion.

Filer adjustment.—The filer adjust-ment was based on the IRS conclusionthat the TCMP auditors detected $1of every $3V2 of unreported gross prof-its. Because the TCMP audit ratioused in BEA's previous adjustmentaccounted for gross profits detected inthe audit, the revision reflects onlythe undetected amount. The revisionwas calculated by multiplying the1976 TCMP audit ratio for gross prof-its by the total for sole proprietor-ships and partnerships from the 1977SOI and multiplying the result by2%.

Nonfiler adjustment.—The nonfileradjustment was based on the exactmatch. It is the total of net income es-timated in the GPS for nonfarm soleproprietorships and partnerships thatfailed to file income tax returns.

Rental income of persons

The revision in the adjustment hadno effect on rental income of persons.

Filer adjustment.—The filer adjust-ments to royalties and to rentalincome from nonfarm nonresidentialproperties were revised to reflect theIRS conclusion that the TCMP audi-tors detected $1 of every $3 Vz of unre-ported income. The improvements,which each amounted to $0.7 billion,were offsetting. For royalties, the re-vision was calculated by multiplyingthe previous adjustment, which repre-sented the amount detected by audi-tors, by 2%. For rental income fromnonfarm nonresidential properties,which—as noted earlier—is obtainedmainly by subtracting rents receivedby business from rents paid by busi-ness, the revision was calculated bymultiplying the previous adjustmentfor rents received by 2l/2. The adjust-ment for rents paid was not revisedbecause IRS concluded that theTCMP auditors detected all overre-porting of deductions.

Nonfiler adjustment.—No improve-ment was possible because of lack ofinformation.

Personal consumption expendituresThe adjustment increased personal

consumption expenditures (PCE) $21.6billion. The filer adjustment contrib-uted $10.9 billion and the nonfiler ad-justment, $10.8 billion.

PCE is affected by the misreportingof the tax return information that isused in the economic censuses. Asnoted previously, this information isused by the Census Bureau to definethe universe and to provide data onsmall firms that are not sent a censusreport form. Consequently, the censusfigures are understated because busi-nesses that do not file tax returns arenot included and because some smallfirms misreport on their tax returns.

The misreporting of concern toBEA is that of sales as compiled inthe censuses.10 The effect of the mis-reporting on PCE was determined inpreparing the input-output (I-O)tables for 1977, which provided thebasis for the preliminary revisedNIPA's. Sales figures from the cen-suses were used in the I-O tables toestablish output by industry, part of

8. Wages and salaries by legal form of organizationare published in NIPA table 1.12 in the July SURVEY.

9. The ratio for businesses with income was used be-cause the Genus Bureau tabulations of nonfiler netincome included few businesses with losses.

10. In this context, the term "sales" refers to the fol-lowing items published in the economic census re-ports: for wholesale and retail trade, sales; for miningand manufacturing, shipments; and for services, re-ceipts.


Table 5.—BEA Adjustments to Sales, Output, and GNP for Misreporting of Tax ReturnInformation, 1977


Total, all industries for which economic census data wereused to derive NIPA estimates

Mining

Manufacturing

Wholesale trade

Retail trade

Services

Total

522

(*)

1.8

4.2

271

221

Sales

Fil-ers

286

(*)

.6

1.5

15.3

11 1

Non-filers

266

0

1.2

2.7

11.8

110

Out-put

336

(*)

1.8

.4

9.3

221

Total

218

o.7

.1

8.8

122

GN

Personalconsump-

tionexpendi-

tures

216

0

.6

.1

8.6

12.2

P

Fixedinvest-ment

02

0

.1

(*)

.1

0

Other

0

0

0

0

0

0

'Less than $0.1 billion.

which is purchased by persons. Theeffects of misreporting on sales andon PCE differ; the effect on PCE ismuch smaller than the effect on salesfor two reasons. First, misreporting ofsales by trade firms, which is large,does not directly affect industryoutput. Second, only part of the mis-reported sales was purchased by per-sons.

The adjustment to PCE was derivedby BEA in three steps. (1) Adjust-ments were estimated for the CensusBureau's sales figures using informa-tion from the IRS studies and theexact match. (2) These adjustmentswere used to estimate adjustments tooutput by industry in the I-O tables.(3) From the adjustments for industryoutput, adjustments for PCE were ob-tained.

Adjustments to sales.—The adjust-ments to sales are shown by industryin table 5. The adjustments for under-reporting by small firms, shown inthe table as the "filer adjustment,"were derived using information fromthe IRS studies. For each industry,the adjustment was calculated by (1)multiplying sales of small firms, bothcorporate and noncorporate, that theCensus Bureau derived from taxreturn information by the 1976 TCMPaudit ratio for nonfarm sole propri-etorships, and (2) multiplying thatresult by 3l/z to allow for the failureof the TCMP auditors to detect all un-derreporting. For retail trade andservices, in which small proprietor-ships are more than proportionallyrepresented, the audit ratio was in-creased, because the TCMP indicatedthat small proprietorships understate

receipts to a larger degree than otherproprietorships.

The adjustments for the failure ofbusinesses to file tax returns, shownin the table as the "nonfiler adjust-ment," were derived from the exactmatch. For each industry, the sales ofnonfilers were estimated by multiply-ing the net income of nonfilers in theexact match by the ratio of receipts tonet income for sole proprietorshipsand partnerships with income fromthe 1977 SO/.11

Both adjustments were prepared ata broad industry level and then weredisaggregated to the more detailed in-dustry level of the I-O tables usinginformation from the economic cen-suses.

Adjustments to industry output.—Ingeneral, for industries in the I-Otables, output consists of sales pluschange in inventory, and the adjust-ment to output is the same as that forsales. For trade, output is defined asthe margin on sales, that is, sales lesscost of goods sold. The adjustment forthe output of trade was obtained bymultiplying the adjustment for salesby the margin rate.

Adjustments to PCE.—The adjust-ments to PCE depended on how muchof the adjustments to industry outputwere purchased by persons. Theywere calculated for each industry bymultiplying the industry output ad-justment by the ratio of the PCE por-tion of the industry's output to the in-dustry's total output.

Fixed investment

The adjustment increased fixed in-vestment (specifically, producers' du-rable equipment—both residentialand nonresidential—and mobilehomes) $0.2 billion; the filer and non-filer adjustments each contributed$0.1 billion. The adjustments werecalculated in the same way as thosefor PCE.12

Evaluation of the ImprovedAdjustments

This section discusses possibleerrors in the improved adjustmentsfor 1977 and the problems involved inextending them to earlier and laterperiods for incorporation in theNIPA's in the comprehensive revisionscheduled for the end of 1985.

Because the adjustments are basedon information that is incompleteand, in some cases, of questionablequality, they are subject to substan-tial error. In the aggregate, however,it appears that the adjustments toGNP, charges against GNP, and per-sonal income are as likely to be over-stated as understated.

Omitted adjustments

One kind of error stems from theomission of adjustments for which in-formation is not available. Filer ad-justments were not made for theNIPA components that are derivedfrom detailed income and expenseitems reported on corporate tax re-turns. Such adjustments would prob-ably reduce charges against GNP, andpersonal income, because, in mostcases, the items that have not beenadjusted are deductions that IRS stud-ies show tend to be overreported.Nonfiler adjustments were not madefor corporations. Such adjustmentswould probably slightly increase GNPand charges against GNP.

For noncorporate nonfilers, adjust-ments were made only to wages andsalaries, nonfarm proprietors' income,PCE, and fixed investment. Adjust-

11. See footnote 9.

12. No adjustments were required for the other com-ponents of GNP because they are not based on taxreturn information.


ments to noncorporate parts of othercomponents of charges against GNPand personal income, if they could bemade, would probably be small andnet close to zero.

On balance, the adjustments tocharges against GNP and personalincome are probably overstated, be-cause the omitted corporate filer ad-justments outweigh the omitted non-filer adjustments. The adjustment toGNP is understated to the extent thatcorporations do not file tax returns.

Filer adjustments

Filer adjustments are subject to sev-eral kinds of error, First, informationis insufficient to evalute the IRS con-clusion that auditors detected $1 ofevery $3V2 of unreported businesssincome. Thus, to the extent that theadjustments were based on this con-clusion, they are subject to error ofunknown size and direction. Second,because it was assumed that the 1976audit ratios apply to 1977, the adjust-ments are misstated to the extentthat tax evasion relevant to the ad-justments changed from 1976 to 1977.Third, the adjustments are probablyoverstated because, contrary to theassumption that the audit experienceof partnerships was the same as thatfor sole proprietorships, misreportingon a partnership tax return is lesslikely.

The filer adjustments for PCE andfixed investment are subject to addi-tional errors. First, these adjustmentsassume—contrary to IRS evidencethat the audit ratio for small corpora-tions is much smaller than that forsole proprietorships—that the auditexperience for small corporations wasthe same as for sole proprietorships.This IRS evidence could not be usedin calculating the adjustment becausesales figures for small firms by legalform of organization were not avail-able from the economic censuses.

Second, these adjustments assume, asmay not be the case, that the extentof unreported income not detected byauditors is the same across industries.This assumption was necessary be-cause there is no industry informa-tion. The assumption may lead toerror in the adjustments because theproportion of sales to persons andbusiness on capital account variesacross industries. The size and direc-tion of the error is unknown.

Given what is known about theerrors described above, the adjust-ments to the NIPA aggregates are aslikely to be overstated as understated.

Nonfiler adjustmentsSeveral kinds of error stem from

the use of exact-match studies, inwhich responses to the CPS are criti-cal. Some CPS respondents may nothave properly identified themselvesas self-employed. To the extent thatthese respondents failed to file incometax returns, the adjustments are un-derstated. The incomes imputed bythe Census Bureau for the substantialnumber of respondents who identifiedthemselves as self-employed but didnot report their incomes may be toohigh. This probability is suggested bya BEA comparison of the imputed in-comes with the reported incomes. Tothe extent that the imputations aretoo high, the adjustments are over-stated.

Three kinds of error relate to indus-try classification. First, evidence sug-gests that some CPS respondents in-correctly classified their businesses asnonfarm.13 Such misclassificationleads to overstatement of the adjust-ments. Second, some CPS respond-ents, to cover up their involvement inillegal activities, claimed that theywere engaged in a legal business.Such responses lead to overstatement.Third, any industrial classification

13. See footnote 7.

errors within nonfarm activity are re-flected in additional errors in the ad-justments to PCE and fixed invest-ment. The size and direction of sucherrors are unknown.

As was the case with the filer ad-justments, the nonfiler adjustments tothe NIPA aggregates are as likely tobe overstated as understated.

Time series estimatesLess information will be available

for extending the adjustments toyears before and after 1977 than wasavailable for the 1977 adjustments. Itis anticipated that an exact-matchstudy for 1982 will provide informa-tion on nonfiling and that TCMP'sand corporate audits will provide in-formation on underreporting. Howev-er, the TCMP-IRP results led IRS tochange its procedures for noncorpor-ate audits after 1976, and it appearsthat since then the TCMP auditorshave been detecting more unreportedincome than previously. Thus, it willbe necessary for BEA to adapt itsmethodology to use the more recentTCMP's. To the extent that more up-to-date information is not available,post-1977 adjustments will be extrapo-lations that hold the proportions ofunderreported income constant. Theadequacy of this procedure dependson the extent to which misreportingis stable. It may be that the types ofmisreporting for which the NIPA'sshould be corrected are more stablethan some other types; that is, misre-porting may be more stable on busi-ness tax returns than on individualtax returns.

The adjustments for years before1977 will need to reflect the less wide-spread use of tax return informationin earlier years. Before 1959, taxreturn information was not used toestimate major parts of nonfarm pro-prietors' income. Also, before 1963, itwas not as widely used in the econom-ic censuses.

445-525 O - 84 - 4

By EUGENE P. SESKIN and J. STEVEN LANDEFELD

Plant and Equipment Expenditures,the Four Quarters of 1984

BiBUSINESS plans to spend $309.0billion for new plant and equipmentin 1984, 14.8 percent more than in1983, according to the BEA quarterlysurvey conducted in late April andMay (tables 1 and 2, and chart 2).1

1. The series consists of business expenditures fornew plant and equipment (P&E)—both for replace-ment and expansion—by U.S. companies for their do-mestic operations, including most costs that arechargeable to fixed asset accounts and for which de-preciation or amortization accounts are ordinarilymaintained. The series excludes expenditures for landand mineral rights; maintenance and repair; usedplant and equipment, including that purchased or ac-quired through mergers or acquisitions; assets locatedin foreign countries; residential structures; and a fewother items.

The coverage of the series and the pattern of esti-mates differ from those of the nonresidential fixed in-vestment (NRFI) component of GNP. The major differ-ences in coverage are the inclusion in the GNP compo-nent of investment by the farm sector, real estate,professional and medical services, and certain othernonmanufacturing industries; certain outlays chargedas current expenses by business; reimbursable expend-itures for new motor vehicles purchased by employeesfor business use; and certain transactions in usedplant and equipment. The pattern of estimates maydiffer due to timing; the NRFI series reflects construc-tion put in place and shipments of equipment, where-as the P&E series reflects expenditures.

Changes in the BEA Plant andEquipment Survey

The estimates in this article reflect re-duced industry coverage in the Plant andEquipment Survey. Beginning with theApril-May survey, estimates—exceptannual estimates from the January-Feb-ruary survey published each March—willno longer include the following nonman-ufacturing industries: forestry, fisheries,and agricultural services; medical serv-ices; professional services; social servicesand membership organizations; and realestate. These industries account for ap-proximately 10 percent of total nonfarmplant and equipment expenditures. In ad-dition, separate estimates of plant and ofequipment expenditures are no longerpublished each quarter; annual estimateswill be published each March. Also, in-formation is no longer published on ca-pacity utilization or on starts and carry-over. (For further information, see page29 of the January 1984 SURVEY OF CUR-RENT BUSINESS.)

Spending was $269.2 billion in 1983,4.8 percent less than in 1982.

The latest estimate of plannedspending for 1984 is $2.2 billionhigher than the comparable estimatebased on the survey conducted in lateJanuary and February and releasedin March. That survey showedplanned spending of $306.8 billion for1984, 14.0 percent more than 1983spending.2

2. Spending plans have been adjusted for systematicreporting biases. The adjustments were made for eachindustry for each quarter of the year by taking themedian deviation between planned and actual spend-ing for that quarter in the preceding 8 years. Beforeadjustment, planned spending for 1984 was $306.29billion for "all industries," $132.90 billion for manu-facturing, and $173.39 billion for nonmanufacturing.The net effect of the adjustments was to lower manu-facturing $4.14 billion and to raise nonmanufacturing$6.83 billion.

Real spending is estimated to be$146.0 billion in 1984, 14.8 percentmore than in 1983; real spending de-clined 3.9 percent in 1983 (tables 3and 4). Estimates of real spending arecomputed from the survey data oncurrent-dollar spending plans andfrom estimated changes in capitalgoods price deflators prepared byBEA.3 The latest deflators developedby BEA indicate that capital goodsprices declined 0.9 percent in 1983

3. Specifically, the current-dollar figures reported bysurvey respondents are adjusted using implicit pricedeflators for each industry group prepared by BEAbased on unpublished data in the national income andproduct accounts. To estimate planned real spending,the implicit price deflators for each industry are ex-trapolated using the average rate of change duringthe latest four quarters for which they are available.

Table 1.—Expenditures for New Plant and Equipment by Business: Percent Change FromPreceding Year

All industries 3

Manufacturing

Durable goods

Primary metals 4

Blast furnaces, steel worksNonferrous metals

Fabricated metalsElectrical machineryMachinery except electricalTransportation equipment 4

Motor vehiclesAircraft

Stone, clay, and glass < . ..Other durables

Nondurable goods

Food including beverageTextilesPaperChemicalsPetroleumRubberOther nondurables

Nonmanufacturing 3

Mining . .

TransportationRailroadAirOther

Public utilitiesElectricGas and other

Commerical and other

1982

Actual

— 2.3

—5.6

— 8.7

8 19.7

-217-12.4

2.926

-17.621 560

-17.0100

2.6

-5.8146

-11.1-2.4

5-3.4

0

.3

-8.4

8333291

9312.312

-1.7

1983

Actual

-4.8

-6.8

— 8.3

— 14.4-14.5-10.2-14.2

2.6-42

-14.1-9.4184

-6.0-132

— 5.5

-14.74.23.5.1

-12.011.959

-3.3

-23.5

63-10.6

4036

.14.8

181

-1.1

19i

Planned1

14.0

16.3

21.2

13.210.212.115.723.719.327.934.020414.719.0

12.0

2.528.415.48.0

12.915.418.6

12.3

21.3

7220.7262282

6.61.6

320

14.3

34

Planned2

14.8

15.5

18.6

11.89.6

10.513.923.512.826.438.91089.5

16.9

12.7

7.524.416.013.510.417.5176

14.3

18.1

6925.0292255

7.11.7

342

17.9

1. Plans reported by business in January and February 1984.2. Plans reported by business in April and May 1984.

3. Surveyed quarterly.4. Includes industries not shown separately.

26


and will remain unchanged in 1984.The deflators prepared in March, ad-justed to the reduced industry cover-age, indicated that capital goodsprices would increase 1.2 percent in1984. The latest projection of 1984capital goods prices incorporates re-vised estimates of price levels in thefourth quarter of 1983, the decline incapital goods prices in the first quar-ter of 1984, and a shift to purchases ofcapital goods with relatively lowerprices. (If the previous estimates ofcapital goods prices were used toadjust the latest survey results, a13.4-percent increase in real spendingwould be indicated for 1984.)

Current-dollar spending in the firstquarter of 1984 increased 3.2 percentto an annual rate of $293.1 billion, fol-

lowing a 5.2-percent increase in thefourth quarter of 1983; first-quarterspending was 1.1 percent lower thanplanned spending reported 3 monthsago. Plans reported in the latestsurvey indicate a 3.6-percent increasein the second quarter of 1984, a 3.5-percent increase in the third, and a3.2-percent increase in the fourth.

Real spending increased 3.6 percentin the first quarter of 1984, followinga 4.6-percent increase in the fourthquarter of 1983. Estimates indicate a3.6-percent increase in the secondquarter of 1984, a 3.6-percent increasein the third, and a 3.1-percent in-crease in the fourth.

The first-quarter increase in realcapital spending and the planned in-creases in the remaining quarters of

1984 would result in spending at orabove the prerecession peaks for themajor industry groups shown exceptfor mining and transportation (table5). First-quarter spending for "all in-dustries" was at an annual rate of$138.5 billion, 3.3 percent below theprerecession peak of $143.2 billion inthe third quarter of 1981 (chart 3).The planned increases during 1984, ifrealized, would result in fourth-quar-ter spending at an annual rate of$153.3 billion, 7.0 percent above theprerecession peak. Manufacturersplan spending in the fourth quarterat an annual rate of $62.0 billion,which—as a result of the 17.7-percentpeak-to-trough decline during the lastrecession—is only 1.4 percent abovethe prerecession peak of $61.2 billion

Table 2.—Expenditures for New Plant and Equipment by Business in Current Dollars

All industries 2

Manufacturing

Durable goodsPrimary metals 3

Blast furnaces, steel works '..Nonferrous metals

Fabricated metalsElectrical machinery :Machinery except electricalTransportation equipment 3 .


Stone, clay, and glassOther durables 4

Nondurable goodsFood including beverageTextilesPaperChemicalsPetroleumRubberOther nondurables 5

Nonmanufacturing 2

Mining

TransportationRailroad...AirOther1

Public utilitiesElectric.Gas and other

Commercial and otherWholesale and retail trade

Personal and business services 6

Communication

Addenda: 7

Total nonfarm business 8

ManufacturingNonmanufacturing

Surveyed quarterlyy y

Billions of dollars; quarters seasonally adjusted at annual rates

1982

282.71

119.68

56.447.463.472.712.59

10.6212.8915.16

7.926.042.615.13

63.237.741.335.97

13.2726.691.716.52

163.03

15.45

11.954.383.933.64

41.9533.408.55

93.6822.1921.5521.6028.34

316.43119.68196.75163.0333.72

1983

269.22

111.53

51.786.392.972.442.22

10.9012.3513.027.174.932.454.45

59.756.601.396.18

13.2823.481.916.91

157.69

11.83

11.203.923.773.50

42.0034.997.00

92.6725.8921.6919.0925.99

302.50111.53190.97157.6933.28

308.98

128.76

61.407.143.252.692.53

13.4513.9316.46

9.965.462.685.21

67.367.091.727.17

15.0825.93

2.258.13

180.22

13.97

11.974.902.674.40

44.9835.58

9.40

109.30

128.76

180.22

1983

I

261.71

109.86

50.746.673.012.532.11

10.7711.9912.706.565.152.324.18

59.126.651.316.02

13.4623.211.696.79

151.85

12.03

11.043.354.093.60

41.6133.977.64

87.1723.2520.7118.2025.02

109.86

151.85

II

261.16

108.79

48.486.022.872.172.23

10.1511.6911.57

6.004.632.424.40

60.316.451.246.30

13.1724.491.966.70

152.38

10.91

10.883.644.103.14

41.4834.866.62

89.1025.4720.7018.8724.05

108.79

152.38

III

270.05

111.12

53.066.553.212.482.27

11.2112.3813.41

7.365.232.544.69

58.066.471.426.18

12.6922.56

1.876.87

158.93

11.93

11.004.073.573.36

42.2235.846.38

93.7926.8622.5219.7024.71

111.12

158.93

IV

283.96

116.36

54.856.312.792.552.29

11.4613.3414.398.764.692.534.54

61.506.821.586.24

13.8023.652.137.28

167.60

12.43

11.864.633.323.91

42.6935.317.37

100.6227.9922.8419.5930.20

116.36

167.60

1984

I

293.15

122.78

58.946.823.002.742.33

12.5713.0416.4710.255.162.645.07

63.846.691.686.93

14.9623.55

2.277.76

170.37

13.95

11.464.412.774.28

43.6235.747.87

101.3529.6524.8321.4125.46

122.78

170.37

II1

303.79

126.00

58.287.093.292.662.53

12.6613.2515.029.354.742.605.12

67.727.131.707.20

14.9226.73

2.177.87

177.79

13.32

12.135.122.694.32

44.4335.129.31

107.92

126.00

177.79

III1

314.52

130.41

63.397.203.372.562.58

14.3914.2616.67

9.975.722.655.64

67.027.021.757.13

14.6226.312.168.03

184.11

14.14

12.325.402.574.35

45.1335.389.75

112.52

130.41

184.11

IV1

324.45

135.86

65.007.453.362.802.70

14.1915.1617.6710.276.212.844.99

70.867.531.757.42

15.8127.112.388.86

188.59

14.47

11.964.672.654.64

46.7436.0710.67

115.42

135.86

188.59

1. Estimates are based on planned capital expenditures reported by business in late April andMay 1984. The planned expenditures are adjusted for systematic biases in reporting. The adjust-ment procedures are described in the October 1980 SURVEY OF CURRENT BUSINESS. Before biasadjustment, current-dollar plans for 1984 were $306.29 billion for "all industries," $132.90 billionfor manufacturing, and $173.39 billion for nonmanufacturing surveyed quarterly.

2. Surveyed quarterly.3. Includes industries not shown separately.4. Consists of lumber, furniture, instruments, and miscellaneous.5. Consists of apparel, tobacco, leather, and printing-publishing.

6. Includes construction.7. Quarterly estimates for selected nonmanufacturing industries were discontinued effective

with the April-May 1984 survey. The latest estimates for these industries were included in theestimates published in the March 1984 SURVEY. The current-dollar plans for 1984 were $343.57billion for total nonfarm business, $213.86 billion for total nonmanufacturing and $36.77 billionfor nonmanufacturing surveyed annually.

8. "All industries" plus the part of nonmanufacturing that is surveyed annually.9. Consists of forestry, fisheries, and agricultural services; medical services; professional serv-

ices; social services and membership organizations; and real estate.


in the first quarter of 1981. Nonman-ufacturing industries plan spendingin the fourth quarter at an annualrate of $91.2 billion, 11.0 percentabove the prerecession peak of $82.2billion in the third quarter of 1981.

The 1984 planned increases in cap-ital spending are consistent with first-quarter increases in other indicatorsof future investment activity, includ-ing capacity utilization, corporateprofits and cash flow, net new capitalappropriations, and new orders fornondefense capital goods. An impor-tant factor in determining the extentto which the spending plans will berealized will be the future path of in-terest rates, which have increasedduring recent months.

Manufacturing Programs

In manufacturing, current-dollarspending increased 5.5 percent in thefirst quarter of 1984, to an annualrate of $122.8 billion, following a 4.7-percent increase in the fourth quarterof 1983. Durable goods industries in-creased 7.5 percent in the first quar-ter and nondurables, 3.8 percent.Manufacturers plan a 2.6-percent in-crease in the second quarter of 1984, a3.5-percent increase in the third, anda 4.2-percent increase in the fourth.

For the year 1984, manufacturersplan to spend $128.8 billion, 15.5 per-cent more than in 1983; in March, aplanned increase of 16.3 percent was

Table 4.—Expenditures for New Plant andEquipment by Business in Constant (1972)Dollars: Percent Change From PrecedingYear

All industries 3 .

Manufacturing

Durable goodsNondurable goods ....

Nonmanufacturing 3 ...

MiningTransportationPublic utilitiesCommercial and

other

1982

Actual

-6.4

-9.1

100-8.1

-4.4

166-4.2

3.8

-59

1983 '

Actual

-3.9

-5.3

—7 1-3.3

-3.0

168-6.4

.5

-2.6

19

Planned 1

12.6

15.7

19911.3

10.4

2396.65.9

11.5

34

Planned 2

14.8

13.8

15.512.1

15.4

22.05.56.6

19.2

1. Calculated from constant-dollar estimates based on cur-rent-dollar spending plans reported in January and February1984.

2. Calculated from constant-dollar estimates based on cur-rent-dollar spending plans reported in April and May 1984.

3. Surveyed quarterly.

Table 3.—Expenditures for New Plant and Equipment by Business in Constant Dollars

All industries3

Manufacturing..

Durable goodsPrimary metals 4

Blast furnaces steel worksNonferrous metals

Fabricated metalsElectrical machineryMachinery except electrical


Stone clay and glassOther durables 5

Nondurable goodsFood including beverageTextilesPaperChemicalsPetroleumRubberOther nondurables 6

Nonmanufacturing 3

Mining

Transportation .Railroad .AirOther

Public utilitiesElectricGas and other

Commercial and otherWholesale and retail tradeFinance and insurancePersonal and business services 7

Communication

Addenda: 8

Total nonfarm business 9 .ManufacturingNonmanufacturing

Surveyed quarterlySurveyed annually 10

Billions of 1972 dollars; quarters seasonally adjusted at annual rates l

1982

132.43

54.78

28.493.351.551.191.285.776.877.443.833.031.192.60

26.293.71.63

2.896.198.65.84

3.37

77.65

4.27

5.39

17.86

50.1311.3011.9910.7316.12

150.2954.7895.5177.6517.86

1983 r

127.22

51.87

26.462.861.311.071.115.926.706.493.512.531.122.26

25.413.14.65

2.986.207.92.93

3.58

75.35

3.55

5.04

17.95

48.8113.0811.989.45

14.29

144.6551.8792.7875.3517.43

1984 2

146.00

59.05

30.55

28.50

86.95

4.33

5.32

19.14

58.16

59.05

86.95

1983

I

123.56

51.14

25.963.001.331.121.045.856.516.363.222.661.072.12

25.183.18

.622.926.287.80.83

3.55

72.42

3.57

4.95

17.78

46.1111.7911.489.02

13.82

51.14

72.42

II

123.89

50.55

24.982.711.27.96

1.115.576.415.792.972.371.112.26

25.573.10.58

3.056.198.20.96

3.50

73.34

3.28

4.93

17.82

47.3012.9911.589.43

13.31

50.55

73.34

III

127.76

51.83

27.092.921.411.091.136.096.706.683.602.691.172.40

24.743.08

.662.975.937.63.91

3.55

75.94

3.63

4.97

18.04

49.2913.5812.379.76

13.58

51.83

75.94

IV r

133.69

53.98

27.812.801.221.111.146.177.177.124.272.411.142.27

26.173.22.73

2.986.418.061.033.74

79.71

3.72

5.33

18.14

52.5213.9712.499.60

16.46

53.98

79.71

1984

I

138.54

56.75

29.533.011.301.191.136.686.938.054.922.631.192.54

27.223.13

.773.276.918.101.083.95

81.79

4.27

5.11

18.58

53.8314.6514.6010.9013.67

56.75

81.79

II2

143.55

57.63

29.05

28.58

85.91

4.13

5.40

18.91

57.47

57.63

85.91

III2

148.66

59.78

31.51

28.27

88.88

4.40

5.48

19.20

59.81

59.78

88.88

IV 2

153.26

62.04

32.11

29.93

91.22

4.54

5.31

19.87

61.51

62.04

91.22

•"Revised.1. Procedures for preparing constant-dollar estimates are described in the September 1981

SURVEY.2. To estimate real spending plans, BEA adjusts the survey results for assumed price changes.3. Surveyed quarterly.4. Includes industries not shown separately.5. Consists of lumber, furniture, instruments, and miscellaneous.6. Consists of apparel, tobacco, leather, and printing-publishing.7. Includes construction.

8. Quarterly estimates for selected nonmanufacturing industries were discontinued effectivewith the April-May 1984 survey. The latest estimates for these industries were included in theestimates published in the March 1984 SURVEY. The constant-dollar plans for 1984 were $161.99billion for total nonfarm business, $102.01 billion for total nonmanufacturing, and $19.23 billionfor nonmanufacturing surveyed annually.

9. "All industries" plus the part of nonmanufacturing that is surveyed annually.10. Consists of forestry, fisheries, and agricultural services; medical services; professional serv-

ices; social services and membership organizations; and real estate.


CHART 2

Changes in Business InvestmentPercent

-30 -20 -10 0 10 20 30 40

ALL INDUSTRIES

Gas and OtherUtilities

OtherTransportation

RailroadTransportation

Durable GoodsManufacturing

Mining

Commercial andOther

Nondurable GoodsManufacturing

Electric Utilities

Air Transportation

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

reported. Manufacturers' spending de-clined 6.8 percent in 1983 and 5.6 per-cent in 1982.

Durable goods industries plan an18.6-percent increase in 1984. Thelargest increases are planned inmotor vehicles, 38.9 percent, and inelectrical machinery, 23.5 percent.The planned increase in motor vehi-cles reflects record 1983 profits and acontinuing modernization of produc-tion facilities. The planned increasein electrical machinery reflectsstrength in anticipated sales as wellas constraints on current capacity;the Federal Reserve Board estimatedthat the industry was operating at91.2 percent of capacity in the firstquarter of 1984. Spending by both in-dustries is characteristic of a factorcommon to all manufacturing indus-tries—the need to catch up on capitalspending deferred during the reces-sion.

Nondurable goods industries plan a12.7-percent increase in 1984. The in-

Real Plant and Equipment Expenditures, All Industries:Cyclical Peaks and Troughs

CHART 3

Billion 1972 $160

1972 1973 1974 1975 1976 1977 1978 1979 1980

Seasonally Adjusted at Annual Rates

1981 1982 1983 1984

•PlannedNOTE.-Peaks (P) and troughs (T) are turning points in the plant and; equipment expenditures series for "all industries."

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

creases planned in textiles (24.4 per-cent), "other nondurables" (17.6 per-cent), rubber (17.5 percent), and paper(16.0 percent) are large. The increasein the total is moderated by smallerincreases in petroleum (10.4 percent),which accounts for over one-third oftotal spending by nondurable goodsindustries, and food-beverage (7.5 per-cent). The recovery in capital spend-ing by the petroleum industry haslagged behind other manufacturingindustries as a result of rates of ca-pacity utilization and profits thathave been low by that industry'sstandards; food-beverage has also ex-perienced lower than normal profitsand expects relatively modest in-creases in 1984 sales.

Real spending by manufacturers isestimated to increase 13.8 percent in1984—15.5 percent in durables and12.1 percent in nondurables. Spendingincreased 5.1 percent in the firstquarter of 1984, to an annual rate of$56.8 billion—12.6 percent above therecession trough of $50.4 billion in thefourth quarter of 1982, but 7.3 percentbelow the prerecession peak of $61.2billion in the first quarter of 1981(table 5). Manufacturers plan a 1.6-percent increase in the second quar-ter of 1984, a 3.7-percent increase inthe third, and a 3.8-percent increasein the fourth.

Durable goods industries increasedreal spending by 6.2 percent in thefirst quarter of 1984, to a level 18.2percent above the recession trough,but 8.0 percent below the prerecessionpeak. Nondurable goods industries in-creased real spending 4.0 percent inthe first quarter, to a level 10.0 per-cent above the recession trough, but6.8 percent below the prerecessionpeak.

Nonmanufacturing Programs

In nonmanufacturing, current-dollar spending increased 1.7 percentin the first quarter of 1984, to anannual rate of $170.4 billion, follow-ing a 5.5-percent increase in thefourth quarter of 1983. Declines in airtransportation, communications, andrailroads were more than offset by in-creases in other nonmanufacturingindustries. Nonmanufacturing indus-tries plan a 4.4-percent increase inthe second quarter of 1984, a 3.6-per-


Table 5.—Real Plant and Equipment Expenditures: Comparison of Latest Estimates With Recent Peaks and Troughs

AH industries

Manufacturing

Durable goods

Primary metalsBlast furnaces, steel worksNonferrous metals

Fabricated metalsElectrical machineryMachinery, except electricalTransportation equipment


Stone, clay, and glassOther durables

Nondurable goods

Food including beverageTextilesPaperChemicalsPetroleumRubberOther nondurables

Nonmanufacturing

Mining

Transportation

Public utilities

Commercial and otherWholesale and retail tradeFinance and insurancePersonal and business servicesCommunication

Billions of 1972 dollars; quarters seasonallyadjusted at annual rates

Peak1

1981-82

143.23

61.21

32.09

3.961.801.681.516.237.519.725.063.671.632.95

29.22

4.23.79

3.587.009.80

.903.63

82.17

5.36

5.87

18.24

54.0312.1812.8711.8618.48

Trough 2

1982-83

123.56

50.41

24.98

2.611.14.96

1.045.346.255.792.972.371.072.12

24.74

3.08.58

2.745.637.63

.793.24

72.42

3.28

4.93

17.37

46.1111.1411.489.02

13.31

1984: I

138.54

56.75

29.53

3.011.301.191.136.686.938.054.922.631.192.54

27.22

3.13.77

3.276.918.101.083.95

81.79

4.27

5.11

18.58

53.8314.6514.6010.9013.67

1984: IV 3

153.26

62.04

32.11

29.93

91.22

4.54

5.31

19.87

61.51

Percent change

Peak totrough

-13.7

17 7

-22.2

-34.1368

-42.9-30.8

142-16.7-40.4-41.3-35.5

342-28.3

153

-27.1-26.3-23.3-19.5

221-12.1-10.8

-11.9

-38.8

-16.0

48

147-8.5

-10.8240

-28.0

Trough to1984: I

12.1

12.6

18.2

15.414.424.18.6

24.910.839.065.611.111.219.8

10.0

1.631.919.222.86.1

37.322.1

12.9

30.0

3.6

7.0

16.731.527.220.9

2.7

Trough to1984: IV

24.0

23.1

28.5

21.0

26.0

38.2

7.7

14.4

33.4

Peak to1984: I

3.3

73

-8.0

-24.027.7292

-24.97.277

-17.227

284-26.9

141

-6.8

-25.9-2.8

86-1.2

-17.320.79.0

.5

-20.4

-12.9

1.9

-.420.313.4

-8.1260

Peak to1984: IV

7.0

1.4

0

2.4

11.0

-15.4

-9.5

8.9

13.8

1. Peak in each industry's plant and equipment expenditures during the period 1981: 1-1982: IV.2. Trough in each industry s plant and equipment expenditures during the period 1982: 1-1983: IV.3. Planned expenditures from survey results adjusted for assumed price changes by BEA (available only for major industry groups).

cent increase in the third, and a 2.4-percent increase in the fourth.

For the year 1984, nonmanufactur-ing industries plan to spend $180.2billion, 14.3 percent more than in1983; in March, a planned increase of12.3 percent was reported. Nonmanu-facturing industries' spending de-clined 3.3 percent in 1983 after aslight increase of 0.3 percent in 1982.

In 1984, the largest increases areplanned in gas utilities, 34.2 percent;'other transportation," 25.5 percent;

and railroads, 25.0 percent. Miningand "commercial and other" plan in-creases of 18.1 percent and 17.9 per-cent, respectively. Air transportation

plans a decline of 29.2 percent. Theplanned increases in several of theseindustries—mining, gas utilities, andrailroads, in particular—should beviewed against the recent declines intheir capital spending during the re-cession.

Real spending by nonmanufactur-ing industries is estimated to increase15.4 percent in 1984. Spending in-creased 2.6 percent in the first quar-ter of 1984, to an annual rate of $81.8billion—12.9 percent above the reces-sion trough of $72.4 billion in the firstquarter of 1983, but slightly below theprerecession peak of $82.2 billion inthe third quarter of 1981. Nonmanu-

facturing industries plan a 5.0-percentincrease in the second quarter of1984, a 3.5-percent increase in thethird, and a 2.6-percent increase inthe fourth.

In nonmanufacturing, first-quarterreal spending by several industries—mining, wholesale and retail trade,and finance and insurance—was ap-proximately 30 percent above theirrespective recession troughs. Howev-er, in mining, spending was still 20percent below its prerecession peak.Spending by the transportation andby the communication industries wasonly slightly above their recessiontroughs, and well below their prere-cession peaks.

By WILLIAM J. RUSSO, JR. and GARY L. RUTLEDGE

Plant and Equipment Expenditures by Business forPollution Abatement, 1983 and Planned 1984

U.S. NONFARM business spent $7.2billion in 1983 for new plant andequipment to abate air and water pol-lution and to dispose of solid waste,14.7 percent less than in 1982 (tableI).1 These estimates are based on asurvey conducted in November and

NOTE.—Tracy K. Leigh and Thomas J. Zoretich as-sisted in the preparation of the estimates for this arti-cle.

1. Pollution abatement (PA) is the reduction orelimination of emissions of pollutants that is broughtabout by human activity directed to that purpose. Dis-posal of solid waste refers to the collection and dispos-

al of solid waste by means acceptable to Federal,State, and local authorites. Part of expenditures fordisposal of solid waste is not for PA, but presentingonly the PA portion is not feasible at the level ofdetail in this article. For further discussion of pollu-tion abatement and solid waste disposal, see John E.Cremeans, "Conceptual and Statistical Issues in Devel-oping Environmental Measures—Recent U.S. Experi-ence," Reviews of Income and Wealth, ser. 23 (June1977): 97-115, and Gary L. Rutledge and Susan L. Tre-vathan; "Pollution Abatement and Control Expendi-tures, 1972-79," SURVEY OF CURRENT BUSINESS 61(March 1981): 19-27.

The survey results are universe estimates for U.S.nonfarm business of PA plant and equipment expendi-tures, excluding expenditures for emission abatementdevices on cars and trucks. The estimates are based onsample data from companies, each of which is as-signed to a single industry corresponding to the indus-try classification of the company's principal product.

For a description of survey methodology, see TechnicalNote 1 in Gary L. Rutledge and Betsy D. O'Connor,"Plant and Equipment Expenditures by Business forPollution Abatement, 1973-80, and Planned 1981,"SURVEY 61 (June 1981): 19-25, 30, and 72. Briefly, BEAplant and equipment survey quarterly data and addi-tional data from an annual survey, which includedpollution abatement questions, were used. Annual es-timates of plant and equipment spending are the sumof quarterly estimates. Sample ratios of pollutionabatement to total plant and equipment spendingfrom the annual survey are multiplied by universe es-timates of plant and equipment spending to obtainuniverse estimates for pollution abatement.

Expenditures by business for emission abatementdevices on cars and trucks were $3.1 billion in 1983.For earlier estimates of these expenditures, see Kit D.Farber, Frederick J. Dreiling, and Gary L. Rutledge,"Pollution Abatement and Control Expenditures,1972-82," SURVEY 64 (February 1984): 22-30.

Table 1.—New Plant and Equipment Expenditures by U.S. Nonfarm Business: Total and for Pollution Abatement[Billions of dollars]

Total nonfarm business

Manufacturing

Durable goods

Primary metals 2

Blast furnaces, steel worksNonferrous metals .

Fabricated metalsElectrical machineryMachinery, except electricalTransportation equipment 2 .


Stone, clay, and glassOther durables 3

Nondurable goods

Food including beverageTextiles iPaperChemicalsPetroleumRubberOther nondurables4

Nonmanufacturing

MiningTransportation

RailroadAirOther

Public utilitiesElectricGas and other. . . .

Trade and servicesCommunication and other ®

1982

Total1

316.43

119.68

56.44

7.463.472.71

2.5910.6212.8915.167.926.04

2.615.13

63.23

7.741.335.97

13.2726.691.716.52

196.75

15.4511.954.383.933.64

41.9533.40

8.5586.9540.46

Pollution abatement

Total

8.49

4.72

1.76

.76

.41

.30

.04

.15

.18

.40

.32

.08

.08

.15

2.96

.38

.03

.30

.671.50.04.04

3.77

.52

.14

.08

.01

.05

3.002.89.11.09.02

Air

4.69

2.28

.92

.45

.21

.20

.02

.06

.08

.21

.18

.03

.05

.07

1.36

.17

.01

.15

.32

.67

.02

.02

2.41

.21

.08

.05

.01

.03

2.072.01

06.04.01

Water

2.98

1.94

.69

.27

.19

.08

.02

.08

.08

.16

.12

.04

.01

.07

1.25

.16

.02

.09

.27

.67

.01

.01

1.04

.20

.05

.03

.00

.02

.77

.73

.05

.02

.01

Solidwaste

0.82

.51

.14

.03

.01

.02

(*).02.03.03.02.01

.02

.02

.36

.04(*).06.07.16.01.01

.32

.11

.01(*)(*).01

.15

.15

.01

.03(*)

1983 '

Total l

302.50

111.53

51.78

6.392.972.44

2.2210.9012.3513.027.174.93

2.454.45

59.75

6.601.396.18

13.2823.481.916.91

190.97

11.8311.20

3.923.773.50

42.00i 34.99

7.0087.9438.02

Pollution abatement

Total

7.24

4.01

1.33

.36

.19

.13

.03

.14

.26

.30

.24

.05

.07

.17

2.68

.25

.03

.25

.571.55.01.04

3.23

.26

.06

.03(*).04

2.772.69.07.10.03

Air

3.66

1.72

.65

.19

.08

.10

.01

.04

.08

.17

.15

.02

.04

.12

1.06

.13

.01

.16

.24

.51(*).02

1.94

.08

.02(')(*).01

1.781.74.04.05.02

Water

2.90

1.94

.55

.15

.11

.02

.02

.08

.15

.10

.07

.02

.02

.03

1.39

.10

.02

.07

.28

.91(*).02

.96

.14

.05

.02

.00

.03

.75

.72

.03

.02

.01

Solidwaste

0.68

.36

.13

.02(*)(*)

.01

.01

.04

.03

.02

.01

.01

.01

.23

.02(*).02.05.12(*).01

.32

.05(*)(*).000

.24

.23(*).03(*)

Planned 1984

Total1

343.57

129.72

62.78

7.233.272.73

2.5713.4814.7316.659.615.93

2.815.30

66.93

6.761.787.13

14.3426.51

2.218.20

213.86

14.3412.00

4.732.784.49

44.7935.54

9.24100.2542.47

Pollution abatement

Total

7.64

4.31

1.62

.50

.29

.17

.05

.15

.28

.33

.24

.08

.12

.19

2.69

.20

.03

.39

.551.50.01.02

3.33

.26

.08

.04

.01

.04

2.852.64.21.12.02

Air

3.79

1.75

.76

.26

.12

.13

.01

.04

.09

.17

.13

.03

.09

.10

.98

.10

.01

.22

.18

.47(*).01

2.04

.08

.02(*).01.01

1.881.82.06.05.01

Water

2.85

2.07

.68

.20

.16

.03

.03

.10

.15

.13

.09

.04

.02

.06

1.39

.08

.01

.10

.32

.88

.01(*)

.78

.12

.05

.03

.00

.02

.58

.46

.12

.03

.01

Solidwaste

1.00

.49

.18

.04

.01

.01

(*).01.04.04.02.01

.02

.03

.31

.02(*).07.05.15(*).01

.50

.07(*)(*).00(*)

.39

.37

.02

.04(*)

p Preliminary.*Less than $5 million.1. Consists of annual estimates from the plant and equipment expenditures survey, as reported

in "Plant and Equipment Expenditures, First and Second Quarters and Second Half of 1984,"SURVEY OF CURRENT BUSINESS (March 1984). The estimates for 1983 and 1984 in table 1 abovediffer slightly from estimates issued in the pollution abatement press release of May 16, 1984,"Business Plans to Increase Capital Spending for Pollution Abatement in 1984." The largest dif-

ference in 1983 is for trade and services, $0.16 billion; the difference for total nonfarm business is$0.37 billion or 0.001 percent.

2. Includes industries not shown separately.3. Consists of lumber, furniture, instruments, and miscellaneous.4. Consists of apparel, tobacco, leather, and printing-publishing.5. Consists of communication; construction; social services and membership organizations; and

forestry, fisheries, and agricultural services.

31


Table 2.—New Plant and Equipment Expenditures by U.S. Nonfarm Business for Air and Water Pollution Abatement by End-of-Line Methods 1


Line

1

2

3

456

789

101112

1314

15

16171819202122

23

2425262728

2930313233

Total nonfarm business

Manufacturing ... .

Durable goods

Primary metals 2

Blast furnaces, steel worksNonferrous metals

Fabricated metalsElectrical machineryMachinery, except electrical .Transportation equipment


Stone clay and glassOther durables 3 .

Nondurable goods

Food including beverageTextilesPaperChemicalsPetroleumRubberOther nondurables *

Nonmanufacturing

MiningTransportation

Railroad....AirOther

Public utilitiesElectric ... . ..Gas and other

Trade and servicesCommunication and other 5

1982

Total

5.86

3.13

1.21

.59

.35

.21

.02

.11

.13

.23

.19

.03

.05

.09

1.91

.15

.02

.16

.491.03.03.03

2.73

.38

.11

.07(*).03

2.202.15

.05

.04

.01

Air

3.58

1.58

.66

.35

.17

.15

.01

.04

.06

.12

.11

.01

.04

.04

.93

.08

.01

.10

.26

.45

.01

.01

2.00

.20

.07

.04(*).02

1.701.68.02.02.01

Water

2.28

1.54

.56

.24

.19

.06

.01

.06

.07

.11

.08

.02

.01

.05

.99

.07

.02

.06

.23

.58

.01

.01

.74

.17

.04

.03

.00

.01

.50

.47

.03

.02(*)

1983 "

Total

5.16

2.85

.95

.26

.12

.12

.02

.09

.15

.22

.19

.02

.06

.15

1.91

.16

.02

.19

.421.08

(*).03

2.31

.15

.05

.02C).03

2.031.99.04.06.02

Air

2.98

1.39

.53

.16

.06

.10

.01

.03

.02

.15

.14

.01

.04

.12

.86

.09

.01

.13

.19

.42(*).02

1.59

.06

.01(*)(*).01

1.471.45

.02

.03

.01

Water

2.19

1.47

.41

.10

.06

.02

.01

.06

.13

.07

.05

.01

.01

.03

1.05

.07

.01

.06

.23

.66(*).02

.72

.09

.04

.02

.00

.02

.56

.54

.02

.02(*)

Planned 1984

Total

5.20

2.86

1.12

.37

.20

.15

.03

.10

.16

.21

.17

.04

.10

.15

1.74

.12

.02

.29

.36

.94

.01

.01

2.34

.17

.07

.03(*).03

2.031.90.13.06.01

Air

3.04

1.32

.57

.22

.09

.13

.01

.03

.02

.11

.09

.02

.08

.09

.75

.06

.01

.20

.12

.34(*).01

1.73

.08

.02(*)0.01

1.581.56.03.04.01

Water

2.16

1.54

.55

.15

.11

.03

.02

.08

.13

.10

.08

.02

.01

.06

.99

.05

.01

.09

.23

.60

.01(*)

.61

.10

.05

.03

.00

.02

.45

.34

.10

.02(*)

p Preliminary."Less than $5 million.1. End-of-line methods involve the separation, treatment, or reuse of pollutants after they are

generated but before they are emitted from a company's property. Changes-in-production-processestimates for air and water pollution abatement can be derived by subtracting estimates in thistable from those in table 1.

2. Includes industries not shown separately.3. Consists of lumber, furniture, instruments, and miscellaneous.4. Consists of apparel, tobacco, leather, and printing-publishing.5. Consists of communication; construction; social services and membership organizations; and

forestry, fisheries, and agricultural services.

Table 3.—New Plant and Equipment Expenditures for Pollution Abatement in Current andConstant Dollars With Implicit Price Deflators

TotalAir..WaterSolid waste ...

TotalAirWaterSolid waste

TotalAir.WaterSolid waste

1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983"

Billions of dollars

4.922.921.69.31

5.703.371.93.40

6.974.022.56.39

7.233.812.97.45

7.343.803.04.50

7.583.913.11

.56

8.424.503.21.71

9.205.073.28.85

8.934.973.04

.92

8.494.692.98.82

7.243.662.90.68

Billions of constant (1972) dollars

4.672.791.58.30

4.682.741.60.34

5.162.931.95.29

5.092.642.14.32

4.832.462.05.33

4.642.381.93.33

4.692.501.81.38

4.642.541.70.41

4.082.251.42.40

3.672.001.33.34

3.061.541.25.27

Implicit price deflators, 1972 = 100

105.5105.0106.5104.3

121.8122.6121.0118.8

135.0137.4131.4134.4

142.0144.5139.0141.6

151.8154.6148.4152.9

163.3164.5161.1168.0

179.6180.2177.2186.2

198.1199.6193.4208.7

219.0220.6213.5229.8

231.4234.6223.4243.7

236.6237.7231.8252.2

p Preliminary.

December 1983 by BEA. Plans indi-cate that spending will increase 5.5percent, to $7.6 billion, in 1984.

The share of total new plant andequipment expenditures accounted forby pollution abatement decreased

from 2.7 percent in 1982 to 2.4 per-cent in 1983. Business plans indicatea decrease to 2.2 percent in 1984. Thetrend in the share has been down-ward since 1975, when the sharereached 4.4 percent (chart 4).

Prices, as measured by the implicitprice deflator for PA plant and equip-ment, increased 2.2 percent in 1983,compared with a revised increase of5.7 percent in 1982 (table 3).2 The1983 price increase was the smallestsince 1965.3 It appears, based on in-formation available in May, thatprices are likely to increase between 2and 5 percent in 1984.

2. Price indexes generally applicable to PA plantand equipment are used to derive implicit price defla-tors. The implicit price deflator for 1983 is based onpreliminary estimates for these indexes. Year-to-yearchanges in the PA implicit prices deflators reflectchanges in prices and in the composition of pollutionabatement capital. Past changes have primarily re-flected price changes; shifts in composition have) hadlittle effect.

3. Estimates of price change before 1973, the firstyear that PA plant and equipment spending was sur-veyed by BEA, are mainly based on research for thearticle by Frederick G. Kappler and Gary L. Rutledge,"Stock of Plant and Equipment for Air and Water Pol-lution Abatement in the United States, 1960-81"SURVEY 62 (November 1982): 18-25.


The Pollution Abatement Share of New Plant and Equipment Expenditures

From a peak in 1975, the share of new plant and equipment:spending that is for pollution abatement has declined significantlyeach year except 1980. Changes in this share are often used as anindicator of changes in the investment burden of pollution abate-ment. Thus, it is useful to evaluate the several possible explana-tions for the decline.

The changes in the pollution abatement share appear mainly tobe due to changes in what may be termed "environmental regula-tory conditions." These conditions consist of environmental activi-ty—as reflected by administrative actions, court cases, and debateabout proposed changes in legislation—as well as accomplishmentsin the design and implementation of environmental programs.

In the early 1970's, environmental regulatory programs in theUnited States were in a "build-up" phase. By the late 1970's, theseprograms had become quite complicated. Further, difficulties ofachieving pollution abatement targets, whether set by law or ad-ministrative or court action, had emerged. After 1975, recognitionof the increasing complexity of all programs and gradual redirec-tion of programs toward regulation of toxic substances led to thestretching out of timetables for meeting some targets. The increasein the pollution abatement share of plant and equipment spendingthrough 1975 and the decline through 1979 are consistent withthis general picture.

In the 1980's, the Federal administrative process was orientedtoward "regulatory reform"—a reduced, less directive Federal role.When the results of regulatory reform—either action or inaction-were considered detrimental, concerned groups initiated courtcases. Further, reauthorization of environmental legislation stalledin Congress. Some proposals before Congress would have relaxed

pollution abatement targets, others would have tightened them,but the major proposals shared a recognition of the need to stretchout further the timetables for meeting the targets. In the mean-time, strict enforcement of pollution abatement deadlines wasoften deferred. Thus, the further decline of the share of plant andequipment spending through 1983 is not surprising.

Progress made in implementing pollution abatement programsreduces the need for additional action. One indicator of progress isthe size of the pollution abatement capital stock. Reflecting therapid growth in this stock in the 1970's, its size was substantial by1980. Growth slowed in 1981 and 1982.

General business conditions appear to affect the numerator anddenominator of the share of plant and equipment spending that isfor pollution abatement nearly proportionately. For example, in-creases in real sales and cash flow and declines in interest ratesaffect the ability of an industry to invest in both pollution abate-ment and other facilities. Thus, the decline in the share does notappear to be directly related to changes in general business condi-tions. Other possible explanations for the decline in the share canprobably be ruled out. For example, if industries with few pollu-tion problems grow substantially relative to industries with signifi-cant problems, the share of plant and equipment spending for pol-lution abatement by all industries might decline. So far, however,differences in growth across industries have had little effect on theshare. Also, if technology changes, the share might change. For ex-ample, if pollution abatement becomes more efficient (as mightoccur with a large shift to changes-in-production-process methods),the share might decline. Changes in technology large enough toaffect the share have not yet been observed.

Air, Water, and Solid Waste Pollution Abatement as a Percentof Total New Plant and Equipment Expenditures

Percent (Ratio scale)

CHART 4

5.0

4.0

3.0

2.0

1.0

.8

1960 1962 1964 1966 1968 1970 1972 1974 1976 1978 1980 1982 1984

• Planned1. The first year covered by the survey was 1973. Prior to 1973, air and water expenditures are based on sources and methods described in"Stock of Plant and Equipment for Air and Water Pollution Abatement in the United States, 1960-81," Survey of Current Business (November 1982).

U.S. Department of Commerce, Bureau of Economic Analysis. 84-6-4

After adjustment for price change,PA plant and equipment spending de-creased 16.6 percent in 1983 to $3.1billion. Decreases for air, water, andsolid waste were 23.0 percent, 6.0 per-cent, and 20.6 percent, respectively. Ifplans are realized in 1984, real spend-ing will range between $3.1 and $3.2billion. This will result in the first in-crease in real spending since 1979.

Spending patterns

Spending for air and water PAplant and equipment has accountedfor approximately 90 percent of totalPA plant and equipment spendingsince 1973, the first year covered bythe survey. Such spending is for oneof two general methods. End-of-linemethods involve the separation, treat-ment, or reuse of pollutants afterthey are generated but before theyare emitted. Spending for end-of-linemethods has accounted for a fairlyconstant share—about 80 percent—ofair and water spending. Companiesreported spending $5.2 billion in 1983for end-of-line methods and plan tospend the same amount in 1984 (table2). Changes-in-production-process

445-525 0 - 8 4 - 5


Table 4.—New Plant and Equipment Expendi-

tures for Pollution Abatement: Percent

Change From Preceding Year

Total nonfarm businessManufacturing


NonmanufacturingElectric utilitiesOther nonmanufacturing.

1982

49129107

-145

7466

100

1983 "

14715024495

14369

398

Planned1984

557 5

2184

311 9

302

p Preliminary.

methods are preventive in that theyreduce the generation of pollutantsduring the production activity. Suchmethods generally have productionand PA features, but survey respond-ents are asked to report only the partof spending that is for pollutionabatement. Technologies for bothmethods change over time dependingupon resources devoted to researchand development.4

In 1983, business spending de-creased 22.0 percent (to $3.7 billion),2.7 percent (to $2.9 billion), and 17.1percent (to $0.7 billion) for air, water,and solid waste, respectively. Plansindicate business spending in 1984 forair and solid waste will increase 3.6percent (to $3.8 billion) and 47.1 per-cent (to $1.0 billion), respectively,while spending for water will remainabout the same.

Industry detail—The 1983 decreasein PA plant and equipment spendingwas widespread, affecting all majorindustry categories (table 4). The de-crease was 15.0 percent in manufac-turing and 14.3 percent in nonmanu-facturing. The 1983 decrease wasmainly due to environmental regula-tory conditions facing business. Theseconditions are highlighted in the ac-companying box, which discusses thedecline in the share of new plant andequipment that is for pollution abate-ment.

4. See the February 1984 SURVEY article referred toin footnote 1 for information on research and develop-ment expenditures.

The 1984 planned increase in PAplant and equipment spending is alsowidespread, except for a planned de-crease by electric utilities. Theplanned increase is 7.5 percent inmanufacturing and 3.1 percent innonmanufacturing. Environmentalregulatory conditions in 1984 showlittle change from 1983 and thus cannot contribute significantly to theplanned increase. The 1984 plannedincrease appears to be mainly due toimprovement in general business con-ditions affecting investment (see thearticle reporting the results of BEA'splant and equipment expendituressurvey elsewhere in this SURVEY).This improvement increases firms'ability to finance facility purchases,including those for pollution abate-ment, and if production capacity is ex-panded, pollution abatement capacityoften must also be expanded.

In 1983, the largest absolute de-creases in spending for PA plant andequipment were by blast furnaces andsteel works ($0.22 billion), electricutilities ($0.20 billion), and nonferrousmetals ($0.17 billion). In percentageterms, the decreases in blast furnacesand nonferrous metals were each over50 percent; the decrease in electricutilities was 7 percent.

The largest absolute increases inspending for PA plant and equipmentplanned for 1984 are by paper ($0.14billion), "gas and other" public utili-ties ($0.14 billion), and blast furnacesand steel works ($0.10 billion). In per-centage terms, each of these plannedincreases is large.

Six industries have, over the years,accounted for most—70 percent ormore—of PA plant and equipmentspending: electric utilities, petroleum,chemicals, blast furnaces, paper, andnonferrous metals (chart 5). Through1983, the share of spending by electricutilites tended to rise. Trends forother industries shares are less clear;the shares of others, except for petro-leum, tended to decrease slightlythrough 1983.

CHART 5

Shares of New Plant and EquipmentExpenditures for Pollution Abatementby Selected Industries

1973-79 1980 1981 1982 1983 1984*

• Planned

U.S. Department of Commerce, Bureau of Economic Analysis. 84-6-5

By RUSSELL C. KRUEGER

U.S. International Transactions, First Quarter 1984

THE U.S. current-account deficit in-creased to a record $19.4 billion in thefirst quarter from $17.2 billion (re-vised) in the fourth, as an increase inthe merchandise trade deficit waspartly offset by increased net servicereceipts and lower net unilateraltransfers. The merchandise trade defi-cit increased $6.2 billion to $25.6 bil-lion due to a large increase in nonpe-troleum imports, reflecting the rapidgrowth of the U.S. economy andstrength of the dollar. Exports in-creased moderately. Net service re-ceipts increased $3.1 billion to $8.4billion. Receipts of income on U.S.direct investment abroad increased$3.0 billion to $8.0 billion; receiptswere bolstered by a shift from capitallosses to capital gains and moderaterecovery in business activity abroad.Payments of income on foreign directinvestment in the United States in-creased slightly to $2.2 billion. Netunilateral transfers decreased $0.9 bil-lion to $2.2 billion. (Revised estimatesfor 1983 and earlier years are present-ed in this article and accompanyingtables. See Technical Notes.)

Among private capital transactions,U.S. claims on foreigners reported bybanks increased $0.3 billion in thefirst quarter, compared with an $8.2billion increase in the fourth, reflect-ing strong domestic credit demandsrelative to credit demands abroad andbanks' caution about external expo-sure. U.S. liabilities to private for-eigners and international financial in-stitutions reported by banks increased$11.3 billion, compared with $24.0 bil-lion. Borrowing from own foreign of-fices abroad declined, reflecting ampleavailability of domestic funds. Out-flows for U.S. direct investmentabroad were $3.2 billion, comparedwith $1.6 billion. Foreign direct in-vestment in the United States slowedto a $1.9 billion increase from a $2.3billion increase. The statistical dis-crepancy (errors and omissions in re-ported transactions) was an inflow of$13.5 billion.

U.S. dollar in exchange markets

The U.S. dollar appreciated moder-ately during the first quarter, rising 3

percent on a trade-weighted, quarter-ly average basis against the curren-cies of 22 OECD countries and 1 per-cent against the currencies of 10 in-dustrial countries. The dollar endedthe quarter lower than it began forall major European currencies exceptthe British pound.

During the quarter, dollar fluctua-tions against European currencies re-flected the shifting influences ofrising U.S. interest rates, expectationsabout prospects for U.S. growth andinflation, and political and militarytensions. The dollar hit record levelsin mid-January against several Euro-pean currencies—the German mark,French franc, Italian lira, and Britishpound. The preceding 3-month runupwas largely attributable to high U.S.interest rates, to perceptions that U.S.growth would continue to be strongerthan growth abroad, and to militaryconflict in the Middle East. Also, theBritish pound was weakened by con-cern about the British current ac-count stemming from rumors that thenew Nigerian Government might

Table A.—Summary of U.S. International Transactions[Millions of dollars, seasonally adjusted]

T ino

1

23

456

7

8

91011

12

13

1415

1617

Lines in tables 1, 2, and 10 in which transactions areincluded are indicated in ( )

Exports of goods and services (1)Merchandise excluding military (2)Other goods and services (3-13)

Imports of goods and services (15)Merchandise excluding military (16)Other goods and services (17-27)

U.S. Government grants (excluding military grants of goodsand services) (30).

Remittances, pensions, and other transfers (31, 32)

U.S. assets abroad, net (increase/capital outflow (-)) (33)U.S. official reserve assets, net (34)U.S. Government assets, other than official reserve

assets, net (39).U S private assets net (43)

Foreign assets in the United States, net (increase/capitalinflow (+)) (48).

Foreign official assets net (49)Other foreign assets, ne t (56) . . .

Allocations of special drawing rights (62)Statistical discrepancy (63) . . . .

1982

349 448211 198138 250

350 590247 667

-102,923

-5,423

2635

-118,8984,965

-6,143

107 790

95,181

331891863

32916

1983

332 201200 257131 944

365 113261 312

-103,801

-6,060

-2,591

-49,490-1,196-5,013

43281

81,722

533976,383

9,331

I

900825548234600

8781262 546

-25^266

-1,481

-624

-31,960- 1,089

-803

30068

28,344

322131,565

3,450

19

II

912745511836,156

8754560921

-26,624

-1,101

-701

-41,409-1,132-1,700

38577

33,772

1,39932,373

5,710

82

III

87,1585207935,079

9038964442

-25,947

-1,088

-657

-26,216-794

-2,555

22867

18,384

2,47715,907

12,808

IV

809364851932417

84 84459758

-25,086

-1,753

-653

-19,314-1,950-1,086

16279

14,680

266412,017

10947

I

81 1114924631,865

8248158523

-23,958

-974

> -599

-24,364-787

-1,130

22447

15,888

25216,139

11,420

19

II

81,3554874532,610

8906763 615

-25,452

-1,210

-638

-1,06016

-1,251

175

12,452

173910,714

-1,833

83

III

84,8265043734,389

94529'67 938

-26,591

-1,478

-665

-9,223529

-1,204

8548

19,578

-270322,281

1,491

IV

84,91051,82933,081

9903771236

-27,801

-2,398

-688

-14,843953

-1,429

12461

33,804

6,55527,249

-1,748

1984

I"

90,62054,16436,456

107,87679805

-28,071

-1,429

-723

-5,927-657

-1,989

3281

11,803

-2,85914,662

13,532

Change:1 Q8Q TV

19841

5,7102,3353,375

-8,8398569-270

969

-35

8,916296

-560

9,180

-22,001

-9,414-12,587

15,280

" Preliminary.

35


withdraw from OPEC and lower pe-troleum prices.

Subsequently, the dollar, throughthe end of February, depreciatedsharply against European currencies,as recovery in a few major tradingpartners strengthened moderatelyand as concerns mounted over thesizes of the U.S. Federal budget andcurrent-account deficits and a pickupin U.S. inflation. In contrast to recentquarters, the depreciation occurreddespite increases in U.S. interestrates relative to stable or decliningforeign rates. This pattern suggeststhat both the decline in the dollarand the higher interest rates mighthave reflected, at least temporarily,renewed concern about inflation. InMarch, the dollar recovered part of itsloss as U.S. short-term interest ratesrose 55-80 basis points.

The dollar depreciated 1 percent onaverage against the Japanese yen inthe first quarter. In late February,the yen appreciated upon introduc-

tion of a series of bills in the Japa-nese parliament designed to increasethe international demand for the yen.

The rise in U.S. interest rates rela-tive to higher Canadian rates and un-certainties over future Canadian elec-tions led to a 1-percent appreciationagainst the Canadian dollar. The U.S.dollar appreciated 5 percent againstthe Mexican peso. Beginning in thefourth quarter, Mexican authoritiesbegan daily controlled devaluations ofthe peso in order to partly offset do-mestic inflation.

Merchandise trade

The U.S. merchandise trade deficitincreased $6.2 billion to $25.6 billionin the first quarter, the fourth consec-utive quarterly record deficit. Astrong increase in nonpetroleum im-ports, due to the rapid expansion ofthe domestic economy, together withthe strong U.S. dollar, accounted for

the larger deficit. Petroleum importsdecreased slightly. Both agriculturaland nonagricultural exports increasedmoderately.

Imports continued their strong in-crease, up $8.6 billion, or 12 percent,to $79.8 billion. Since the end of therecession in the fourth quarter of1982, the increase in imports hasacounted for nearly one-quarter of theincrease in total U.S. purchases ofgoods (see accompanying tabulation).

[Change from preceding quarter; billions of 1972 dollars]

1983: IIIIllIV

1984- I

Total

Grossdomesticpurchasesexcludingservices

8.400 0

27724.2

38.8

137.4

Imports

4.44.9456.4

11.2

31.4

Table B.—Selected Transactions With Official Agencies[Millions of dollars]

T i-no

1

234

5

66a6b

Changes in foreign official assets in the U.S., net (decrease-) (line 49, table 1).

Industrial countries *Members of OPEC 2

Other countries

Changes in U.S. official reserve assets (increase -) (line 34,table 1).

Activity under U.S. official reciprocal currency arrange-ments with foreign monetary authorities: 3

Foreign drawings, or repayments ( — ), netDrawingsRepayments

3,318

-650672912533

-4,965

20935489

-3396

5,339

10,17286393806

-1,196

-2,083600

— 2,683

I

-3,221

686850181371

-1,089

19

II

1,399

20252470

954

-1,132

200800

-600

32

III

2,477

1981234262

-794

6322482

-1,850

IV

2,664

406431

2689

-1,950

12612 207'946

I

-252

13914661075

-787

-1168590

1758

19

II

1,739

3,55034821671

16

-160

160

83

III

-2,703

4612051

-1,113

529

-765

-765

IV

6,555

6,02216402,173

-953

1010

1984

lp

-2,859

898-2,525

564

-657

-10

-10

Change:1 Q8Q TV

19841

-9,414

-6,920-8851,609

296

-20—10-10

" 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.

Table C.—Indexes of Foreign Currency Price of the U.S. Dollar[1977 = 100]

Trade- weighted average against 22 OECD currencies l

Trade-weighted average against 10 currencies 2..

Selected currencies: 3CanadaUnited KingdomEuropean Monetary System currencies:

BelgiumFranceGermanyItaly..Netherlands

SwitzerlandJapan

I

125.1

1154

115.61137

13231401103615821084840877

19

II

127.7

119.0

116.01123

138.11517106.91666113786.4884

33

III

132.6

1245

11611155

14801617113717771204894902

IV

133.8

1258

116.61187

1518166011521835122389.9872

1984

I

137.2

1272

118.2121 5

15391686116118761239915860

Apr.

126.3

1179

11611135

13531487104916381119857884

May

127.6

1181

115.81109

137.3150810611657112985.6874

June

129.2

121 1

11611126

14191558109717041162879893

July

131.5

1225

11611141

14461584111517311180882895

1983

Aug.

134.0

1256

11621160

14951636115017941218901910

Sept.

132.2

1255

11611163

1501164011481808121 5900901

Oct.

132.1

123.2

116.01164

14781618112.01785118987.9868

Nov.

133.6

125.9

116.51180

15201660115.51835122490.3876

Dec.

135.8

1284

11741216

1560170411831884125691.5872

Jan.

139.4

130.5

117.61238

15981748120.91929128.793.2870

1984

Feb.

135.8

127.3

117.51209

154.11689116.11881124.091.8870

Mar.

136.4

123.8

119.61197

148.11627111.7182.3119.489.5840

1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Japan, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden,Switzerland, Turkey, United Kingdom. Data: U.S. Department of the Treasury. End-of-month rates. Index rebased by BEA.

2. Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, United Kingdom. Data: Federal Reserve Board. Monthly average rates. Index rebased by BEA.3. Data: Federal Reserve Board. Monthly average rates. Indexes rebased by BEA.


As shown in chart 7, the high mar-ginal rate of importation has in-creased the average percentage of im-ported goods in total domestic goodspurchases to record levels during thelast two quarters.

Nonpetroleum imports increased$9.0 billion, or 16 percent, to $66.0 bil-lion; volume increased 17 percent.Capital goods increased $2.9 billion,and showed increases in all major cat-egories, especially in business ma-chines and computers, which in-creased $0.8 billion, or 32 percent, forthe quarter, and 87 percent over thepast year, and in electrical machin-ery, up $0.7 billion, or 19 percent, forthe quarter. Consumer goods in-creased $2.2 billion, about equally di-vided between durable and nondura-ble goods. There were strong in-creases in gem diamonds to rebuildstocks after strong fourth-quartersales, and in apparel. Numismaticcoins decreased $0.4 billion, after abunching of deliveries from SouthAfrica in the fourth quarter. Industri-al supplies and materials increased$1.9 billion, led by a turn-around inprecious metals and by increases iniron and steel. Brazil imposed a 27-percent export tax on selected steelproducts shipped to the United Statesto preempt possible imposition of aU.S. import tax. The action followed aruling in February by the U.S. De-partment of Commerce that subsidieson Brazilian shipments were harmfulto the U.S. steel industry. Automotiveimports increased $1.1 billion, mostlyfrom Canada. Foods, feeds, and bever-ages increased $0.6 billion.

Petroleum imports decreased $0.4billion or 3 percent, to $13.9 billion.The average price per barrel de-creased to $28.05, from $28.30, asworldwide supplies remained plenti-ful. Volume decreased to 5.40 millionbarrels per day, from 5,53 million,due to a decrease in consumption; in-ventories rose slightly. Imports fromOPEC members decreased $1.0 billionand those from Western Europe in-creased $0.6 billion.

Exports increased $2.3 billion, or 5percent. Volume increased 4 percent.At $54.2 billion, exports were 12 per-cent above the low in the fourth quar-ter of 1982 and have made up aboutone-half the drop that occurred in1981 and 1982. However, the pickuphas been selective; agricultural ex-ports and automotive exports to

Indexes of Foreign Currency Price of the U.S. Dollar (1977 = 100)CHART 6

150

140

130

120

110

100

90

80

TRADED/SIGHTED AVERAGES

22 OECD currencies

1981__

1982 1983 1984

CHART 7

Merchandise Trade, GoodsProduction, and Goods Purchases

Percent15

1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, Netherlands, NewZealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, and United Kingdom.Data: U.S. Department of the Treasury. End-of-month rates, index rebased by BEA.2. Belgium, Canada, France, 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.

Canada have accounted for more thantwo-thirds of the increase. Export ex-pansion has been slower than therapid growth in domestic output ofgoods, substantially reducing the per-centage of total goods output exported(chart 7).

Agricultural exports increased $0.5billion, or 5 percent, to $10.3 billion;volume increased 4 percent. Prices ofcotton and corn increased 3 percentand 1 percent, respectively; prices ofsoybeans and wheat declined 4 per-cent and 2 percent. Oils and sunflow-er seeds increased to $0.7 billion from$0.2 billion, due to large PL-480 ship-ments of sunflower seeds to Mexico asa substitute for soybeans, which werein short supply because of last year'sdrought.

Nonagricultural exports increased$1.9 billion, or 4 percent, to $43.9 bil-lion. Volume increased 3 percent.Automotive exports increased $0.6 bil-lion, as strong sales of U.S. modelcars assembled in Canada led to a$0.2 billion increase in exports ofparts and as exports of completedcars, trucks, and buses continued toincrease strongly. Capital equipmentincreased $0.6 billion, led by a $0.2

14

13

12

11

10

8

- v B<portss as a Percentageof Goods Production 0^

Imports as a Percentage of GrossDomestic Purchases Less Services1

I I I I I I I I I I I I I I I1980 1981 1982 1983 1984

1. Goods purchases are gross domestic purchases less domesticpurchases of services.NOTE.—Estimates derived trom NIPA data in 1972 dollars.

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


Table D.—Selected Direct Investment Transactions With Netherlands Antilles Finance Affiliates[Millions of dollars]

CapitalEquity capitalReinvested earningsIntercompany debt

IncomeOf which interest

3080(i)(i)(i)

6551208

90194052'838

13908

19862991

3920122710416188

29184246

I

17411217

1403097

295463

19

II

33161256

2004772

475688

82

III

1 544736254

2533

588875

IV

2418844244

3506

629965

I

966222163

1351

603867

19

II

1,453225265

1,943

660986

83

III

625209

-3101,144

-7311081

IV

877572

-3021,751

-9241312

1984

I P

n.a.-260

n.a.1,095

n.a.- 1 131

n.a. Not avilable.p Preliminary.1. Data reflecting the new treatment of unincorporated affiliates (see Technical Notes) are not available for 1981.

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

billion increase in computers andparts and a $0.3 billion increase inelectrical equipment; completed air-craft decreased $0.3 billion. Exports ofindustrial supplies and materials andof consumer goods remained at thelow levels that have prevailed since1982, reflecting limited growth indemand abroad and the strength ofthe dollar.

Service transactionsNet service receipts increased $3.1

billion to $8.4 billion. Receipts in-creased $3.4 billion to $36.5 billion,largely due to higher direct invest-ment income receipts. Payments in-creased $0.3 billion to $28.1 billion.

Receipts of income on U.S. directinvestment abroad increased $3.0 bil-lion to $8.0 billion, following a lowfourth quarter. There was a $2.6 bil-lion shift from large capital losses tosmall capital gains, primarily fromexchange rate changes. Operatingearnings increased $0.2 billion ashigher manufacturing earnings re-flected the moderate recovery in busi-ness activity abroad. Earnings werelower in petroleum and other indus-tries. Earnings increased in develop-ing countries in Asia and Africa anddeclined in Europe and Canada. Pay-ments of income on foreign direct in-vestment in the United States were$2.2 billion, up $0.2 billion, as theU.S. expansion continued. Income ofpetroleum affiliates declined and thatof other industries increased.

Receipts of income on other privateinvestment increased $0.3 billion to$13.7 billion, largely reflecting higherinterest rates. U.S. Governmentincome receipts decreased slightly to$1.1 billion. Payments of income on

other private investment increased$0.4 billion to $8.3 billion, mostly dueto the increase in U.S. bank liabilitiesin recent quarters. U.S. Governmentpayments increased slightly to $4.6billion.

Travel receipts increased $0.2 bil-lion to $3.0 billion. Increased receiptsfrom overseas, especially the FarEast, were partly offset by a drop inreceipts from Canada and Mexico.Payments decreased $0.2 billion to$3.6 billion. Payments overseas and toMexico dropped; payments to Canadaincreased. Passenger fare receipts in-creased $0.1 billion to $0.9 billion;payments were unchanged at $1.4 bil-lion.

Other transportation receipts wereunchanged at $3.3 billion; paymentsincreased slightly to $3.5 billion. Airfreight payments were up strongly.Higher ocean freight payments fortramp and liner charges were offsetby lower tanker charges.

Transfers under U.S. military salescontracts decreased $0.2 billion to $2.6billion, the lowest level in 3 years.Many major weapons delivery pro-grams have recently been completedand deliveries under new programs,although scheduled, have not yetbegun. Direct defense expendituresabroad decreased $0.2 billion to $2.9billion, primarily from declining pe-troleum expenditures and reduceddisbursements on an engineering con-tract in the Middle East.

Other private service receipts andpayments each rose $0.1 billion to$1.7 billion and $1.0 billion, respec-tively.

Net unilatreal transfers decreased$0.9 billion to $2.2 billion, due tolower U.S. Government grants. Dis-bursement fell because Israel drew allgrant funds for the current fiscal yearduring the fourth quarter.

U.S. assets abroad

U.S. official reserve assets increased$0.7 billion in the first quarter. For-eign currency holdings increased $0.2billion, due to limited intervention tosupport the German mark in Januaryand interest earned on mark and yenholdings. The U.S. reserve positionwith the International MonetaryFund (IMF) and holdings of specialdrawing rights (SDR's) each increased$0.2 billion.

U.S. claims on foreigners reportedby U.S. banks increased $0.3 billion,compared with an $8.2 billion in-crease in the fourth quarter. Theslowdown reflected strong growth indomestic bank lending (up 20 per-cent), continued sluggishness in inter-national demand for U.S. bank credit,and hesitancy by many banks to in-crease their foreign exposure in theface of financial difficulties in anumber of developing countries. Inaddition, some yearend transactionswere reversed in January, and therewas greater use of alternative sourcesof financing, especially floating ratenotes and Eurobonds. Large creditlines were established with U.S. bankbranches and foreign banks abroadfor possible use in corporate takeov-ers, but relatively small amountswere actually drawn during the quar-ter.

Geographically, reductions inclaims were widespread. Most of theinterbank reductions were on Cari-bean banking centers and Japan,while reductions in other claims weremostly on countries in Asia andEurope. Claims increased on Canada,and on own foreign offices in theUnited Kingdom. Claims on Brazil in-


creased in March due to U.S. bankparticipation in the first tranche ofan IMF-arranged $6.5 billion loan as-sociated with rescheduling of Brazil'sforeign debts.

Net U.S. sales of foreign securitieswere $0.2 billion, the first quarter ofnet sales in almost a decade. New for-eign bond issues in the United States,at $0.7 billion, were low for thesecond consecutive quarter and limit-ed to a few Canadian issues. Concernabout volatility of the dollar andrising U.S. interest rates led to a shiftfrom U.S. markets to other interna-tional bond markets, where borrowingwas at record levels in the first quar-ter. Holdings of outstanding bonds de-clined $0.6 billion, compared with nonet change, due to scheduled redemp-tions. Net sales of foreign stocks were$0.4 billion, compared with net pur-chases of $0.1 billion, as rises in mostforeign stock markets moderated, es-pecially in the last half of the quar-ter. Rising interest rates may alsohave attracted funds away fromequity markets. Net U.S. sales of Ca-nadian stocks increased as the Cana-dian market declined. Net sales ofJapanese stocks continued for asecond quarter, probably reflectingsome profit taking.

Outflows for U.S. direct investmentabroad were $3.2 billion, comparedwith $1.6 billion. Equity capital out-flows declined to $0.7 billion, from$2.5 billion. Outflows to Europe andLatin America slowed, and no trans-actions were comparable to the largefourth-quarter conversion from debtto equity by an African petroleum af-filiate. Net intercompany debt inflowsslowed $0.6 billion to $2.3 billion.(Fourth-quarter inflows had been in-creased by the conversion mentionedabove.) A shift to outflows to Canadawas partly offset by a shift to inflowsfrom Europe. Inflows from Nether-lands Antilles finance affiliatesdropped $0.7 billion to a $1.1 billionincrease, the lowest level since thesecond quarter of 1981. The declinereflected increased repayments of pre-viously borrowed funds and sometendency for those affiliates to trans-fer funds to other foreign affiliates in-stead of remitting the proceeds of newissues to the U.S. parent. Reinvestedearnings increased $2.9 billion to $4.8billion, as large capital losses in thefourth quarter shifted to small capitalgains in the first.

Foreign assets in the United States

Foreign official assets in the UnitedStates shifted to a decrease of $2.9 bil-lion from an increase of $6.6 billion.Assets of industrial countries de-creased $0.9 billion, reflecting inter-vention by foreign authorities to sup-port their currencies against thedollar in exchange markets in Janu-ary. Assets of OPEC members de-creased $2.5 billion, reflecting contin-ued weakness in petroleum revenues.Asssets of other countries increased$0.6 billion; decreases in assets of sev-eral Asian countries were more thanoffset by increases of several LatinAmerican countries.

U.S. liabilities to private foreignersand international financial institu-tions reported by banks (includingU.S. Treasury securities) increased$11.3 billion, compared with $24.0 bil-lion. The slowdown was concentratedin drawings on foreign offices, whichincreased $1.4 billion, compared with$15.5 billion. The decline reflected thereduced need to draw funds fromabroad and the reversal in January ofsome large yearend inflows. Liabil-ities to unaffiliated banks and otherprivate foreigners increased $6.9 bil-lion, compared with $8.0 billion. In-flows were at a record rate in March,as U.S. interest rates rose sharply andthe dollar strengthened. In contrast tothe fourth quarter, when U.S.-ownedbanks accounted for most of the in-crease, foreign-owned banks in theUnited States accounted for two-thirds of the increase in the firstquarter. Inflows were largely fromthe United Kingdom, from Canada,and from several Caribbean and LatinAmerican countries.

Net foreign purchases of U.S. secu-rities other than U.S. Treasury securi-ties increased $0.4 billion to $1.5 bil-lion. Stock purchases increased $0.8billion to $1.2 billion; Europeanbuyers reversed their last quarter'sselloff, and Canadians more than dou-bled their purchases to a quarterlyrecord of $0.7 billion. Much of the in-crease occurred late in the quarter,when the U.S. stock market and thedollar were both rising. Net sales byBritish residents continued. Net for-eign purchases of bonds, which fell$0.3 billion to $0.4 billion, weremostly concentrated in the UnitedKingdom and Japan.

Inflows for foreign direct invest-ment in the United States slowed to a$1.9 billion increase from a $2.3 bil-lion increase. There were widespreaddecreases in equity capital inflows,which were down $0.7 billion to $0.6billion, especially from the UnitedKingdom and Canada. Reinvestedearnings continued to increase, up$0.3 billion to $1.0 billion. Intercom-pany debt inflows were virtually un-changed at $0.3 billion; outflows formanufacturing and petroleum affili-ates were more than offset by inflowsfor other affilates.

Technical Notes

As is customary each June, esti-mates of U.S. international transac-tions are revised to incorporate newinformation. Revised annual esti-mates for 1960-83 and quarterly esti-mates for 1978-83 are presented intables 1 and 2. Revised annual esti-mates for 1973-83 and quarterly esti-mates for 1982 and 1983 are presentedin table 3. Revised annual estimatesfor 1981-83 and quarterly estimatesfor 1982 and 1983 are presented intables 4-10. Table lOa presents re-vised annual estimates for 1981-83.

Seasonal adjustment for selectedcurrent-account items and for changesin U.S. Government assets, otherthan official reserve assets, were re-calculated by extending through 1983the period used to derive seasonal ad-justment factors. The new factorswere applied to quarterly data for1982 and 1983. (For seasonal adjust-ment and other changes involvingdirect investment-related items, seethe section on direct investment esti-mates which follows.)

The geographic detail shown in sec-tion B of table 3 has been expandedby the addition of 17 lines. Shown forthe first time are the individual Euro-pean Communities (EC6) countries,Brazil, Venezuela, members of OPECin Asia, China, Hong Kong, Korea,Singapore, Taiwan, and members ofOPEC in Africa. Annual data for thenew lines are available since 1978;quarterly data are available since1982. The expansion of geographicdetail necessitated a change in theseasonal adjustment procedure forsection B of the table. Under the new


procedure, unadjusted data for eachcountry or area are split into agricul-tural and nonagricultural exports andpetroleum and nonpetroleum imports.Each cell is then seasonally adjustedby the corresponding implicit globalfactor derived from estimates in sec-tion D. The cells are summed toderive country and area export andimport totals. Previously, each cellwas seasonally adjusted separately byits own seasonal factor, and the dataderived were forced to a global con-trol total.

Significant revisions were made inthe 1980-83 estimates for travel andpassenger fare receipts (lines 4 and5)—mainly from overseas visitors.Until mid-1979, the U.S. Immigrationand Naturalization Service (INS) tab-ulated the forms that each nonresi-dent alien must file upon entry intothe United States. These tabulationswere the source of BEA's estimates offoreign visitors. This year the INS re-sumed tabulating forms; a tabulationwas made for 1983 and partial tabula-tions were made for 1981-82. Thesetabulations, along with BEA's esti-mates of foreign visitors in 1979 and1980, are the basis for the revisedoverseas travel and passenger fare re-ceipts for 1980-83. Revisions weremade also in the 1982-83 estimates ofreceipts from Mexican visitors to theborder area of the United States.Prior to 1982, BEA used the Bank ofMexico's data on sales and purchasesof U.S. dollars through Mexicanborder area banks as a basis for esti-mates of these receipts. However,during the period of peso depreciationin 1982 and 1983, when the MexicanGovernment set official exchangerates offered by banks well belowmarket rates, much of the currencyexchange took place outside the bank-ing system, rendering banking datainadequate as a basis for estimates. Inresponse, the Bank of Mexico beganconducting personal expenditureinterviews with Mexicans in theborder area as they returned from theUnited States. This expendituresurvey is the basis for the revisions to1982-83 border area receipts.

U.S. transactions with the Interna-tional Telecommunications Satellite

Organization (Intelsat) are now re-corded as transactions with a non-U.S. resident to reflect Intelsat'sstatus as an international organiza-tion. Previously, Intelsat—whoseheadquarters are located in theUnited States—was treated as a U.S.resident, and its transactions withother countries were recorded in theU.S. international transactions ac-counts. Those transactions have beenremoved from the accounts, andtransactions between U.S. residentsand Intelsat are now included. U.S.transactions with Intelsat consistmainly of sales of goods and services(including satellites and launchingservices) to Intelsat and returns onU.S. capital contributions to Intelsat,which are recorded as U.S. receipts;charges to the United States for theuse of Intelsat's international commu-nications satellite channels, which arerecorded as U.S. payments; and U.S.capital contributions to Intelsat,which are recorded as U.S. capitaloutflows (an increase in U.S. assets).Revisions to published estimates weremade for 1980-83.

Direct investment estimates

Change in treatment of unincorpo-rated affiliates.—Beginning with theyears of the most recent benchmarksurveys (1982 for U.S. direct invest-ment abroad and 1980 for foreigndirect investment in the UnitedStates), the treatment of unincorpo-rated affiliates has been changed toparallel that of incorporated affili-ates. Previously, less detail, by compo-nent, for direct investment incomeand capital flows was obtained for un-incorporated affiliates than for incor-porated affiliates; now, similar detailis obtained for both types of affiliates.This change is possible because, overtime, the accounting procedures ofunincorporated businesses havebecome more similar to those of incor-porated businesses. Although thechange does not affect the totals fordirect investment income and capitalflows shown in table 1, it does affectthe individual components of these

items, as shown in table 5. For yearsprior to 1982 for U.S. direct invest-ment abroad and to 1980 for foreigndirect investment in the UnitedStates, estimates on the new basiscannot be computed, because the nec-essary detail is not available.

Previously, reinvested and remittedearnings of unincorporated affiliateswere not reported separately. Instead,(1) in the income account, total earn-ings of these affiliates were treated asif they were remitted and (2), in thecapital account, earnings actually re-invested rather than remitted weretreated as transfers of cash or otherassets from parents to affiliates andwere included, along with other cap-ital flows, in a single summary ac-count in the ' 'equity and intercom-pany accounts" component of directinvestment capital flows. The term"reinvested earnings" referred only toincorporated affiliates. Now, reinvest-ed and remitted earnings of unincor-porated affiliates are reported sepa-rately. The remitted portion is includ-ed, together with dividends of incorpo-rated affiliates, in distributed earn-ings of all affiliates (line 5 or 41 oftable 5), and, in both the income andcapital accounts; the reinvested por-tion is included, together with rein-vested earnings of incorporated affili-ates, in reinvested earnings of all af-filiates (lines 6 and 12 or 42 and 50).

In addition, capital flows to unin-corporated affiliates, which—as notedearlier—were previously shown to-gether as a single summary accountin equity and intercompany accountflows, have now been split into theequity, intercompany debt, and rein-vested earnings portions. The equityportion is now included, together withequity flows to incorporated affiliates,in equity capital flows to all affiliates(line 9 or 47 of table 5); the intercom-pany debt portion is included, togeth-er with intercompany debt flows to in-corporated affiliates, in intercompanydebt flows to all affiliates (line 13 or51); and, as noted, the reinvestedearnings portion is included, togetherwith reinvested earnings of incorpo-rated affiliates, in reinvested earningsof all affiliates (line 12 or 50). For un-incorporated affiliates that were


unable to separate equity capital fromintercompany debt, the entire amountwas considered equity capital.

Revision of seasonal adjustmentprocedures.—-Primarily because of thechange in treatment of unincorporat-ed affiliates and resulting changes indata presentation, the procedures forseasonally adjusting income on U.S.direct investment abroad have beenrevised. All items, including income,for foreign direct investment in theUnited States continue not to be sea-sonally adjusted.

Previously, for U.S. direct invest-ment abroad, total income and "inter-est dividends, and earnings of unin-corporated affiliates'' were each sea-sonally adjusted, and seasonally ad-justed "reinvested earnings of incor-porated affiliates" were derived as aresidual. The seasonal factors werecalculated and the adjusted estimateswere obtained for petroleum and non-petroleum affiliates separately.

With the change in treatment ofunincorporated affiliates, the compo-nents of direct investment incomehave been regrouped. In the past, themajor components were "interest,dividends, and earnings of unincorpo-rated affiliates" and "reinvested earn-ings of incorporated affiliates"; now,they are "interest" and "earnings" (ofboth incorporated and unincorporatedaffiliates). Earnings has, in turn, beendisaggregated into "distributed earn-ings" and "reinvested earnings" (ofboth incorporated and unincorporatedaffiliates).

Under the revised procedure, sea-sonal factors are directly applied tothe various components of income,rather than to the total, and the vari-ous components are then summed. In-terest, by itself, has been determinedto have no seasonal pattern and,therefore, no adjustment is required.Earnings, calculated before capitalgains (losses), do have a seasonal pat-tern and are seasonally adjusted; cap-ital gains (losses) are excluded fromearnings in calculating the seasonalfactor because of their sporadicnature and the current absence ofany discernible seasonal pattern. Al-though distributed earnings display a

seasonal pattern, data on distributedearnings of unincorporated affiliatesare available only for 2 full years(1982 and 1983)—not a long enoughperiod to allow the calculation of sea-sonal factors using the Census Bu-reau's X-ll seasonal adjustment pro-gram. Thus, only distributed earningsof incorporated affiliates (dividends)can be seasonally adjusted using theX-ll programs; distributed earningsof unincorporated affiliates are ad-justed informally, based on the distri-bution of data among the quarters ofthe 2 years for which complete dataare available. The sum of seasonallyadjusted distributed earnings for bothtypes of affiliates is then subtractedfrom seasonally adjusted total earn-ings, after unadjusted capital gains(losses) have been added back in, toderive seasonally adjusted reinvestedearnings. When data become avail-able for distributed earnings of unin-corporated affiliates over a sufficienttime period, total distributed earningswill be seasonally adjusted using theX-ll program. As before, the seasonalfactors are calculated and applied sep-arately to the estimates for petroleumand nonpetroleum affiliates.

Because reinvested earnings are acomponent of direct investment cap-ital outflows as well as income, therevised procedure for deriving season-ally adjusted reinvested earnings alsoaffects total capital outflows. Themajor change is that seasonally ad-justed reinvested earnings now in-clude an adjusted estimate for unin-corporated as well as for incorporatedaffiliates, whereas, in the past, theyconsisted only of an adjusted estimatefor the latter. The other two majorcomponents of direct investment cap-ital outlflows—equity capital and in-tercompany debt—continue to showno seasonal pattern and require noadjustment.

Gross recording of interest and offees and royalties.—For foreign directinvestment in the United States, sepa-rate quarterly estimates of paymentsand receipts of interest on intercom-pany debt and of fees and royalties(lines 44-45 and 55-56, respectively, oftable 5) are available for 1980 for-ward. For prior years, only estimates

of the net amount of such payments(receipts) are available because, al-though payments and receipts werereported separately, universe esti-mates were prepared only for the netamount.

For U.S. direct investment abroad,separate quarterly estimates of re-ceipts and payments of interest and offees and royalties are not yet avail-able for any year. They will be avail-able, starting with the year 1982,when these series have been revisedto incorporate the results of the 1982benchmark survey of U.S. direct in-vestment abroad (this revision isscheduled for 1986); for years prior to1982, estimates will continue to beavailable only on the net basis.

Benchmark revisions of the series onforeign direct investment in theUnited States.—The series on foreigndirect investment in the UnitedStates for 1980 forward have been re-vised to incorporate the results ofBEA's 1980 benchmark survey. Previ-ous estimates for these years werebased on the results of the 1974benchmark survey. The revised esti-mates are preliminary. Final esti-mates for 1980-82 and revised, butstill preliminary, estimates for 1983will be published, together with anexplanation of the benchmarking pro-cedure, in the annual article on for-eign direct investment in the UnitedStates, which will appear later thisyear in the SURVEY OF CURRENT BUSI-NESS.

Inclusion of data on capital inflowsto establish or acquire new U.S. affili-ates.—Data on capital inflows to es-tablish or acquire new U.S. affiliatesare not reported in BEA's quarterlysample survey if the newly estab-lished or acquired U.S. affiliates arebelow that survey's exemption level.Also, because equity capital inflowsare not expanded to universe levels,no estimate of such unreported in-flows would normally be made. Avail-

(Text continues on p. 73.)


Table 1.—U.S. International[Millions

Line

1

23

456

789

10

111213

14

15

1617

181920

21222324

252627

28

29

303132

33

3435363738

39404142

4344454647

48

49505152535455

5657585960

61

62

63

64656667

6869

(Credits + ; debits -) 1

Exports of goods and services 2

Merchandise adjusted excluding military •*Transfers under U.S military agency sales contracts

Travel .. .Passenger faresOther transportation

Fees and royalties from affiliated foreignersFees and royalties from unaffiliated foreignersOther private servicesU S Government miscellaneous services

Receipts of income on U.S. assets abroad:Direct investmentOther private receipts . ,U.S. Government receipts

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


Merchandise adjusted excluding military 3

Direct defense expenditures.

TravelPassenger faresOther transportation

Fees and royalties to affiliated foreignersFees and royalties to unaffiliated foreignersPrivate payments for other servicesU.S. Government payments for miscellaneous services

Payments of income on foreign assets in the United States:Direct 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 grants (excluding military grants of goods and services)U.S. Government pensions and other transfersPrivate remittances and other transfers

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

U.S. official reserve assets net 4

Gold . . . .

Reserve position in the International Monetary Fund

U S Government assets other than official reserve assets netU S loans and other long-term assetsRepayments on U.S loans 5

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

U S private assets netDirect investmentForeign securitiesU.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

U.S. Treasury securities 6

Other7

Other U S Government liabilities 8

U.S. liabilities reported by U.S. banks, not included elsewhereOther foreign official assets 9

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

Allocations of special drawing rights

Statistical discrepancy (sum of above items with sign reversed)

Memoranda:Balance on merchandise trade (lines 2 and 16)Balance on goods and services (lines 1 and 15) 10

Balance on goods services and remittances (lines 65 31 and 32)Balance on current account (lines 65 and 29) 10 . . .

Transactions in U.S. official reserve assets and in foreign official assets in theUnited States:Increase (— ) in U.S. official reserve assets net (line 34)Increase (+) in foreign official assets in the United States (line 49 less line 53)

Ref.lines

table 1,March

1984Survey)

1

23

456

789

10

111415

16

17

1819

202122

23242526

273031

32

33

343536

37

3839404149

43444546

474851

52+5354+55

56

57585960616263

64656869

70+71

72+73

74

75

76777879

8081

1960

28,861

19,650335

919175

1,607

590247570153

3,621646349

1,695

-23,729

-14758-3,087

-1750-513

— 1,402

35—40

-593-313

-394-511-332

1695

2 308

-1,672-214

423

—4,099

21451,703

442

1 1001214'642

-528

5144-2,940

— 663-3941 148

2,294

1,473655655

215603

821315

-364282

-90

678

-1,019

48925,13244962,824

2,1451,258

1961

29,937

20,108402

947183

1,620

662244607164

3,823793383

1,465

— 23,591

-14,537-2,998

-1,785-506

— 1,437

4346

-588-406

-432-535-278

1465

2 524

-1,855-235

434

—5,538

607857

-135I -I K

91019281279-261

5235-2,653

—762-5581261

2,705

765233233

25508

1,939311151324226

928

-989

55716,34656773,822

607741

1962

31,803

20,781656

957191

1,764

800256585195

4,241904473

1,537

-25,778

-16,2603,105

-1,939-567

— 1,558

57-44

-528398

-399-586-339

1,537

2638

-1,916-245

477

-4,174

1,535890

6261Q

108521281,288-245

4,6232,851—969-354

450

1,911

1,2701,4091,410

— 1152

-291

641346-'66134

-110

336

-1,124

45216,02553033,387

1,5351,118

1963

34,214

22,272657

1,015205

1,898

890273613236

4,6361,022

499

1,562

-27,047

-17,048-2,961

-2,114612

— 1,701

61-51

-493-447

459-701-401

— 1,562

2,754

-1,917262

-575

-7,270

378461

29112

16622204

988-447

—5,9863,483

— 1,105157

1,556

3,217

1,98601 c816803

12429742

1,231231

-149287-37

898

-360

52247,16763314,414

3781,558

1964

38,826

25,501747

1,207241

2,076

1,013301651265

5,1061,256

462

1,340

-29,222

-18,7002,880

-2,211-642

—1,817

-67-60527

-535

529-802

453

— 1,340

—2,781

-1,888-279-614

9,560

171125

266220

— 1680-2,382

720-19

-8,050-3,760

-1,108-2,505

3,643

1,660

4342

298930

1,983322

-1468575

1,818

-907

6,8019,60487116,823

1711,362

1965

41,087

26,461830

1,380271

2,175

1,199335714285

5,5061,421

510

1,636

32,801

-21,510-2,952

2,438-717

— 1,951

-68-67461

-550

-657-942-489

-1,636

—2,854

-1,808-369-677

-5,716

1,2251,665

-94346

1605-2,463

874-16

-5,336-5,011

34193

742

134

-134—765

210

607415

-131358178

503

-458

4,9518,28572395,432

1,22569

1966

44,562

29,310829

1,590317

2,333

1,162353814326

5,2601,669

599

1,892

-38,599

25,493-3,764

-2,657-753

—2,161

64-76

-506-644

-7111,221-549

1,892

-2.932

-1,910-367-655

-7,321

570571

537538

-1,5432,5131,235

265

-6,3475,418

-442233

3,661

-672

-1,54821

113742

4,333425356906476

2,882

629

3,8175,9634,9413,031

570-785

1967

47,314

30,6661,152

1,646371

2,426

1,354393951336

5,6031,781

636

2,039

-41,606

-26,866-4,378

-3,207829

—2,157

62-104-565-691

-821-1,328

-598

-2,039

-3,125

-1,805-441-879

9,757

531,170

-941 023

-2,423-3,638

1,005209

-7,386-4,805

-779-495

7,379

3,4519 9fi12222

3983

1,106

3,928698135

1,016584

1,765

-205

3,8005,7084,3882,583

533,368

1968

52,363

33,6261,392

1,775411

2,548

1,430437

1,024353

6,5912,021

756

2,547

-48,800

-32,9914,535

-3,030885

-80-106

668-760

-876-1,800

-702

-2,547

-2,952

-1,709-407-836

-10,977

8701,173

-8701 173

-2,274-3,722

1,38662

-7,833-5,295

1 EJfiQ

-1,203233

9,928

7747RQ

-79829

-1510

10,703807136

4,4141,475

3,871

438

6353,5632,320

611

-870-759

1969

57,522

36,4141,528

2,043450

2,652

1,533486

1,160343

7,6492,338

925

2,610

-54,129

35..807-4,,856

-3.,373-1,080

-101120

-751-717

-848-3,244

-111

-2,610

-2,994

-1,649-406-939

-11,585

-1,179-967

1,034822

-2,2003,4891,200

89

-8,2065,9601 'vd.Q

-126-570

12,702

-1,3019 '-IAH

-2,269-74251792

14,0021,263-68

3,130792

8,886

-1,516

6073,8932,048

3:99

1,179-1,552

See footnotes on page 63.


Transactionsof dollars]

1970

65,674

42,4691,501

2,331544

3,125

1,758573

1,294332

8,1692,671907

2,713

-60,050

-39,866-4,855

-3,980-1,215-2,843

-111-114-827-725

-875-3,617-1,024

-2,713

-3,294

-1,736-462

-1,096

-9,337

2,481787

-851389

2,156

-1,589-3,2931,721-16

-10,229-7,590-1,076-596-967

6,359

6,9089,4399,411

28-456

-2,075

-5501,464

812,1892,014

-6,298

867

-219

2,6035,6254,0652,331

2,4817,364

1971

68,838

43,3191,926

2,534615

3,299

1,927618

1,546347

9,1602,641906

3,546

-66,569

-45,579-4,819

-4,373-1,290-3,130

-118-123-956-746

-1,164-2,428-1,844

-3,546

-3,701

-2,043-542

-1,117

-12,475

2,349866

-2491,350382

-1,884-4,1812,115182

-12,940-7,618-1,113-1,229-2,980

22,970

26,87926,57026,578-8

-510819

-3,909367-242,289369

-6,911

717

-9,779

-2,2602,269610

-1,433

2,34927,389

1972

77,495

49,3811,364

2,817699

3,579

2,115655

1,764357

10,9492,949866

4,492

-79,435

-55,79711 -4,784

-5,042-1,596-3,520

-155-139

-1,043-788

-1,284-2,604-2,684

-4,492

-3,854

-2,173-572

-1,109

-14,497

-4547

-703153_ i

-1,568-3,8192,086165

-12,925-7,747-618

-1,054-3,506

21,461

10,4758,4708,213257182

1,638185

10,986949-394,507815

4,754

710

-1,879

-6,416-1,941-3,622-5,795

-410,293

1973

110,241

71,4102,559

3,412975

4,465

2,513712

1,985401

16,5424,330936

2,810

-99,219

-70,49911 -4,629

-5,526-1,790-4,694

-209-176

-1,180-862

-1,610-4,209-3,836

-2,810

-3,881

-1,938-693

-1,250

-22,874

158

9-33182

-2,644-4,6382,596-602

-20,388-11,353-671

-2,383-5,980

18,388

6,02664159582936

4,126323

12,3622,800-2164,0411,035

4,702

-2,654

91111,0219,0787,140

1585,090

1974

146,666

98,3063,379

4,0321,1045,697

3,070751

2,321419

19,1577,3561,074

1,818

-137,519

-103,811-5,032

-5,980-2,095-5,942

-160-186

-1,262-967

-1,331-6,491-4,262

-1,81812 -7,18612 -5,475

-694-1,017

-34,745

-1,467

-172-1,265-30

12 366-5,00112 4,82612 541

-33,643-9,052-1,854-3,221-19,516

34,241

10,5464,1723,270902301

5,818254

23,6964,760697378

1,844

16,017

-1,458

-5,5059,1477,4371,962

-1,46710,244

1975

155,729

107,0884,049

4,6971,0395,840

3,543757

2,920446

16,5957,6441,112

2,207

-133,000

-98,185-4,795

-6,417-2,263-5,708

-287-186

-1,551-1,044

-2,234-5,788-4,542

-2,207

-4,613

-2,894-813-906

-39,703

-849

-66-466-317

-3,474-5,9412,475-9

-35,380-14,244-6,247-1,357-13,532

15,670

7,0275,5634,658905

1,517-2,1582,104

8,6432,6032,5902,503319

628

5,917

8,90322,72921,01118,116

-8495,509

1976

171,630

114,7455,454

5,7421,2296,747

3,531822

3,584489

18,9998,9551,332

373

-162,425

-124,228-4,895

-6,856-2,568-6,852

-293-189

-2,006-1,227

-3,110-5,681-4,520

-373

-4,998

-3,146-934-917

-51,269

-2,558

-78-2,212'-268

-4,214-6,9432,596133

-44,498-11,949-8,885-2,296-21,368

36,518

17,6939,8929,319573

4,627969

2,205

18,8264,3472,7831,284-578

10,990

10,544

-9,4839,2057,3544,207

-2,55813,066

1977

184,276

120,8167,351

6,1501,3667,090

3,8831,0373,848557

19,67310,8811,625

203

-194,170

-151,907-5,823

-7,451-2,748-7,972

-243-262

-2,190-1,358

-2,834-5,841-5,542

-203

-4,617

-2,787-971-859

-34,785

-375— 118-121-294158

-3,693-6,4452,719

33

-30,717-11,890-5,460-1,940-11,427

51,319

36,81632,53830,2302,3081,400773

2,105

14,5033,728534

2,4371,086

6,719

-2,023

-31,091-9,894-11,724-14,511

-37535,416

1978

219,994

142,0547,973

7,1831,6038,136

4,7051,1804,296620

25,45814,9441,843

236

-230,335

-176,020-7,352

-8,475-2,896-9,124

-393-277

-2,573-1,545

-4,211-8,795-8,674

-236

-5,106

-3,176-1,086-844

-61,130

732— 651,2494,231

-4,683

-4,660-7,4702,941-131

-57,202-16,056-3,626-3,853-33,667

64,036

33,67824,22123,555

6662,4765,5511,430

30,3587,897

13 2,1782,2541,889

16,141

12,540

-33,966-10,340-12,270-15,446

73231,202

1979

286,796

184,4736,516

8,4412,1569,971

4,9801,2044,403520

38,18323,6542,295

465

-282,110

-212,028-8,294

-9,413-3,184-10,906

-523-309

-2,822-1,718

-6,357-15,481-11,076

-465

-5,649

-3,550-1,180-920

-64,331

-1,133—65

-1,136-189257

-3,746-7,6973,926

25

-59,453-25,222-4,726-3,291-26,213

38,752

-13,665-21,972-22,435

463-407,2131,135

52,41611,877

13 4,9601,3511,621

32,607

1,139

25,404

-27,5554,6862,586-964

-1,133-13,624

1980

342,485

224,2698,274

10,5882,59111,618

5,7801,3055,158398

37,14632,7982,562

756

-333,510

-249,781-10,511

-10,397-3,607-11,790

-428-297

-2,909-1,730

-8,658-20,893-12,512

-756

-7,077

-4,731-1,302-1,044

-86,118

-8,155

-16-1,667-6,472

-5,162-9,8604,456242

-72,802-19,222-3,563-3,174-46,838

58,086

15,49711,8959,7082,187615

-1593,145

42,58916,892

13 2,6455,4576,852

10,743

1,152

24,982

-25,5128,9756,6291,898

-8,15514,881

1981

375,721

237,08510,003

12,9133,11112,560

5,7941,4905,856499

32,54950,1823,680

675

-362,593

-265,086-11,118

-11,479-4,487-12,474

-435-289

-3,002-1,865

-7,053-28,553-16,753

-675

-6,833

-4,452-1,464-918

-110,978

-5,175(*)

-1,824-2,491-861

-5,107-9,6674,395165

-100,694-9,624-5,714-1,181-84,175

81,313

5,0036,3085,0191,289-300

-3,6702,665

76,31023,148

13 2,9467,171917

42,128

1,093

22,275

-28,00113,12810,7466,294

-5,1755,303

1982

349,448

211,19812,509

12,3933,17412,313

5,5611,5726,635533

22,26957,4744,119

594

-350,590

-247,667-12,014

-12,394-4,772-11,722

72-267

-3,529-2,238

-4,129-33,833-18,097

-594

-8,058

-5,423-1,473-1,162

-118,898

-4,965

-1,371-2,552-1,041

-6,143-10,063

4,282-362

-107,7904,756

-8,1026,626

-111,070

95,181

3,3185,0345,728-694382

-1,747—351

91,86314,865

13 7,0626,397

-2,383

65,922,

32,916

-36,469-1,141-3,776-9,199

-4,9652,936

1983

332,201

200,25712,737

11,4083,03712,802

6,2751,5796,474630

20,75751,4144,832

205

-365,113

-261,312-12,222

-13,977-5,532-12,322

-170-282

-3,609-2,193

-6,734-29,104-17,657

-205

-8,651

-6,060-1,579-1,012

-49,490

-1,196

-66-4,4343,304

-5,013-9,9314,969-52

-43,281-4,881-7,676-5,333-25,391

81,722

5,3396,5026,989-487199433

— 1,795

76,38311,299

13 8,7318,612

-1,318

49,059

9,331

-61,055-32,912-35,503-41,563

-1,1965,140

Line

1

23

456

78910

111213

14

IE

1617

181920

21222324

252627

28

29

303132

33

3435363738

39404142

4344454647

48

49505152535455

5657585960

61

62

63

64656667

6869



Line (Credits +; debits -)1

Ref.lines

(table 1,March1984

Survey)

1978

III IV

1979

III IV

1 Exports of goods and services 2..

2 Merchandise, adjusted, excluding military3

Transfers under U.S. military agency sales contracts..

4 Travel..5 Passenger fares..

Other transportation.

7 Fees and royalties from affiliated foreigners..Fees and royalties from unaffiliated foreigners..

9 Other private services10 U.S. Government miscellaneous services..

Receipts of income on U.S. assets abroad:11 Direct investment12 Other private receipts ....13 U.S. Government receipts..

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

15 Imports of goods and services..

16 Merchandise, adjusted, excluding military 3 .17 Direct defense expenditures..

18 Travel...19 Passenger fares..20 Other transportation.

21 Fees and royalties to affiliated foreigners ..22 Fees and royalties to unaffiliated foreigners....23 Private payments for other services24 U.S. Government payments for miscellaneous services....

Payments of income on foreign assets in the United States:25 Direct investment26 Other private payments..27 U.S. Government payments..,

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

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

U.S. Government grants (excluding military grants of goods and services)..31 U.S. Government pensions and other transfers..32 Private remittances and other transfers..

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

34 U.S. official reserve assets, net4..35 Gold..

Special drawing rights....37 Reserve position in the International Monetary Fund-

Foreign currencies

39404142

U.S. Government assets, other than official reserve assets, netU.S. loans and other long-term assetsRepayments on U.S. loans 5


U.S. private assets, netDirect investmentForeign securitiesU.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 ( + ))....



Other7

Other U.S. Government liabilities 8


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 (sum of above items with sign reversed)


Balance on goods, services, and remittances (lines 65, 31, and 32)Balance on current account (lines 65 and 29)10

Transactions in U.S. official reserve assets and in foreign official assets in the UnitedStates:Increase (—) in U.S. official reserve assets, net (line 34)Increase (+) in foreign official assets in the United States (line 49 less line 53)

10

343536

37

3839404142

43444546

474851

51 + 5354+55

56

575859606162

64656869

70+7172+73

74

75

48,557

30,6862,094

1,624305

1,817

1,054288

1,056

5,8693,250

382

76

-53,278

-41,866-1,680

-1,523-640

-2,066

-100-69

-612-364

-630-1,785-1,943

-76

-1,203

-770-254-179

-15,399

187

-16324

-121

-1,071-1,671

643-43

-14,515-4,889-1,115-2,241-6,270

18,183

15,44813,02112,904

117553

1,456418

2,7351,355

881396507

-404

55,463

36,7321,934

1,885364

2,026

1,112294

1,077167

5,9783,375519

49

-57,636

-44,117-1,752

-2,176-882

-2,236

-92-68-631-380

-1,262-1,965-2,074

-49

-1,323

-831-270-222

-5,775

248

53,621

34,5391,894

2,113533

2,136

1,134298

1,079172

5,5323,797

394

-59,028

-44,190-1,874

-2,994-798

-2,382

-69-655-350

-1,261-2,211-2,147

-62

-1,238

-776-276-186

-9,455

115

-104437

-1,199-1,998

78712

-4,824-3,947-1,094

315

851

-5,113-5,598-5,809

211-94-64643

5,9642,313

7931,082

3041,472

-43195

-37

-1,431-2,161

70822

-8,139-2,468

-510-29

-5,132

16,882

4,9033,5563,093

463323919105

11,9792,620

-1,068296912

9,219

62,354

40,0972,050

1,561402

2,159

1,405300

1,084148

8,0794,523

548

-60,393

-45,847-2,045

-1,782-576

-2,439

-104-71

-676-450

-1,058-2,834-2,509

-49

-1,343

-800-287-256

-30,501

182-65

64,468

41,6941,903

1,924413

2,231

1,112298

1,058122

8,0445,180

489

29

-61,955

-46,721-2,001

-1,708-669

-2,378

-125-75

-687-350

-1,423-3,067-2,750

-29

-1,301

-854-265-182

-8,736

-3,585

69,830

45,1381,695

2,214524

2,401

1,183299

1,082151

9,2945,338512

47

-68,607

-51,408-1,936

-2,575-975

-2,656

-126-77-698-357

-1,623-3,464-2,711

-47

-1,382

-911-281-191

-15,921

322

1,4123,275

-4,440

-959-1,640

804-122

-29,724-4,753

-907-1,898

-22,167

28,120

18,44013,24213,367-1251,6943,240

264

9,6811,608

13 1,572480166

5,854

-2,357

-1,163-1,900

783-47

-3,989-5,918

-908

5,926

2,307

-8,697-8,837-8,832

-5-31-51222

11,0041,553

13 2,564409

-2966,773

1,139

-78394

-918-1,906

97217

-15,326-7,417

-492504

-7,921

6,862

-9,775-12,766-12,860

94353

2,436202

16,6373,353-57524799

12,018

71,443

44,9591,574

2,368704

2,642

1,218301

1,093176

9,8795,963565

95

-73,162

-54,104-2,087

-3,187-889

-2,899

-119-78-703-596

-1,769-3,991-2,740

-95

-1,388

-881-304-203

-25,600

2,779

81,055

52,6821,344

1,935515

2,697

1,468305

1,17071

10,9677,174

728

294

-78,387

-59,795-2,270

-1,943-6131

-2,972

-153-78

-734-415

-1,542-4,959-2,875

-294

-1,579

-904-330-345

-14,073

-649-65

-522,831

-802-1,808

96541

-27,577-6,675-2,331

-739-17,833

24,449

6,0365,3595,026

333339172166

18,4133,3821,502

166210

13,153

27-611

-2,0831,205

14

-12,561-5,213

-99532

-6,385

5,134

-1,228-5,728-5,769

41-7014,656

545

6,3623,588

13 951252908663

3,140

-11,180-4,721-5,154-5,924

18714,895

8,421

-7,385-2,174-2,666-3,497

248-5,019

-783

-9,651-5,407

-6,644

1154,580

1,762

-5,7501,9621,419

619

18216,746

4,078

-5,0272,5132,0661,212

-3,585-8,666

9,217

-6,2701,224

753-158

322-10,128

4,258

-9,145-1,719-2,226-3,107

2,7795,697

7,8150

-7,1132,6681,9931,089

-649-527



Transactions—Continuedof dollars]

I

84,999

54,5011,702

2,425502

2,699

1,278311

1,21284

11,7738,011501

143

-84,854

-64,962-2,550

-2,026-740

-2,946

-109-76-725-405

-1,726-5,537-3,053

-143

-1,880

-1,342-311-227

-13,699

-3,268

-1,152-34

-2,082

-1,530-2,611

918164

-8,901-5,849-787

-1,062-1,203

8,568

-7,413-4,556-5,357

801-19

-3,198360

15,9803,306

13 3,3002,435340

6,599

1,152

5,714

. -10,461145

-394-1,735

-3,268-7,394

198

II

84,745

57,3891,923

2,691637

2,880

1,421319

1,27777

7,5018,089541

151

-83,725

-62,875-2,484

-2,680-1,099-3,036

-66-74-742-417

-2,101-5,213-2,937

-151

-1,357

-810-314-233

-24,997

502

112-99489

-1,131-2,3501,17149

-24,367-2,790-1,387-25

-20,165

9,882

7,734,6104,360250593

1,676851

2,1515,765

-1,271496

1,671-4,509

15,452

-5,4861,019473

-337

5027,137

0

III

82,697

53,5042,437

3,140888

2,994

1,404330

1,315125

8,6447,277640

259

-81,087

-59,180-2,610

-3,526-1,042-2,882

-52-74-747-480

-3,300-4,203-2,992

-259

-1,493

-919-338-236

-18,916

-1,109

-261-294-554

-1,394-2,5761,173

9

-16,413-3,538-944509

-12,440

14,439

7,5644,3433,794549-671,8231,465

6,8744,721-278263

1,252916

4,360

-5,6761,6111,036117

-1,1097,631

IV

90,045

58,8752,212

2,332564

3,045

1,678344

1,354112

9,2289,422880

203

-83,844

-62,764-2,867

-2,165-726

-2,926

-200-73-695-428

-1,531-5,940-3,530

-203

-2,347

-1,660-339-348

-28,507

-4,279

1,285-1,240-4,324

-1,108-2,3221,19520

-23,121-7,045-450

-2,596-13,030

25,197

7,6147,4986,911587107

-460469

17,5833,099894

2,2633,5907,737

-544

-3,8896,2015,5143,854

-4,2797,507

I

93,229

60,3542,140

2,951602

3,105

1,360361

1,43082

8,63111,374840

183

-88,817

-65,909-2,672

-2,347-1,014-3,020

-150-74-749-454

-1,778-6,704-3,949

-183

-1,480

-960-335-185

-23,836

-4,529(*)

-1,441-707

-2,381

-1,469-2,594

958168

-17,838-2,422-505

-3,248-11,664

8,195

5,4477,6967,24245431

-3,109829

2,7472,6101,3902,419121

-3,793

1,093

11,617

-5,5554,4123,8912,931

-4,5295,416

19

II

96,605

61,6992,571

3,254815

3,140

1,420372

1,460135

8,51612,443781

206

-93,218

-67,934-2,962

-2,948-1,365-3,287

-39-73-734-454

-2,0197,164-4,241

-206

-1,564

-986-333-244

-22,179

-905

-23-780-102

-1,482-2,3651,060-177

-19,792-5,613-1,5662,389

-15,002

14,523

-3,075-1,542-2,078

536-132

-2,048647

17,5995,186747

3,58913

8,063

5,831

-6,2353,3872,8101,824

-905-2,943

81

III

91,160

55,8452,859

3,7211,0413,198

1,402378

1,473151

6,54513,5461,002

227

-90,538

-64,610-2,611

-3,870-1,218-3,194

-96-72-742-394

-1,795-7,661-4,277

-227

-1,833

-1,232-398-203

-16,707

-4

-225-647868

-1,261-2,4201,128

31

-15,443-585-7261,178

-15,310

17,341

-5,908-4,070.-4,615

545-432

-2,380974

23,2485,363

13 -444767

1,08416,478

578

-8,76562221

-1,211

-4-5,476

IV

94,727

59,1872,433

2,987653

3,117

1,612379

1,493131

8,85712,8201,057

59

-90,020

-66,633-2,874

-2,314-890

-2,974

-151-70-778-563

-1,461-7,024-4,287

-59

-1,957

-1,273-397-287

-48,254

262

-134-358754

-896-2,2881,250143

-47,621-1,004-2,918-1,500-42,199

41,255

8,5394,2244,470-246233

3,867215

32,7169,989

13 1,253396

-30121,380

4,249

-7,4464,7074,0242,750

2628,306

I

89,510

55,2872,892

3,161670

3,061

1,372388

1,625117

6,05613,8411,038

89

-87,102

-62,666-2,840

-2,506-1,126-2,926

-33-68-841-444

-955-8,231-4,467

-89

-2,079

-1,481-315-283

-33,088

-1,089

-400-547-142

-901-1,8491,011-64

-31,098-984-6503,879

-33,343

28,344

-3,221-1,628-1,327-301-89

-1,684180

31,5653,1591,3021,314-65

25,856

4,414

-7,3792,4081,811330

-1,089-3,132

19

II

93,087

56,6883,295

3,331821

3,134

1,305390

1,659123

5,68315,713944

118

-88,592

-61,437-3,056

-3,409-1,473-3,090

38-66-869-458

-1,112-9,340-4,320

-118

-1,808

-1,101-384-323

-41,683

-1,132

-241-814-77

-1,697-2,5241,027-200

-38,8531,360-502-308

-39,403

33,772

1,399-1,836-2,094

258428

2,79710

32,3733,630

13 2,0982,543

-2,02326,125

5,223

-4,7494,4953,7882,687

-1,132971

82

III

85,151

50,1013,027

3,4461,0033,115

1,396394

1,671199

4,89114,8801,030

229

-90,620

-63,542-3,029

-3,912-1,231-2,934

25-66-891-649

-1,062-8,676-4,652

-229

-1,721

-1,088-379-254

-26,279

-794

-434-459

99

-2,580-3,453

949-76

-22,9061,100

-3,410808

-21,405

18,384

2,4774,6114,803-192-177

-1,870-87

15,9073,264

13 1,408633

-28210,884

15,084

-13,441-5,468-6,101-7,189

-794-2,654

IV

81,700

49,1222,995

2,455680

3,002

1,488399

1,68093

5,63813,0401,108

158

-84,276

-60,022-3,089

-2,567-942

-2,773

42-67-929-687

-999-7,586-4,658

-158

-2,451

-1,753-396-301

-17,848

-1,950

-297-732-920

-965-2,2381,295-22

-14,9333,280

-3,5412,247

-16,919

14,680

2,6643,8874,346-459221

-990-454

12,0174,812

13 2,2541,907-133,057

8,195

-10,900-2,576-3,274-5,027

-1,9502,443

I

80,874

49,3253,798

2,722653

3,051

1,462393

1,629124

4,16612,4211,130

42

-81,658

-58,538-3,008

-2,383-1,070-2,787

-44-69-895-485

-1,231-6,758-4,391

-42

-1,548

-974-385-189

-25,554

-787

-98-2,1391,450

-1,231-2,3781,224-77

-23,536-296

-1,866-3,199-18,175

15,888

-2522,6413,012-371-533

-1,978-382

16,1392,305

13 2,9243,003

-2,33710,244

11,999

-9,213-784

-1,358-2,332

-787281

19

II

83,269

50,3373,084

2,904826

3,141

1,605393

1,604252

5,34412,4691,311

30

-90,183

-64,158-3,031

-3,701-1,794-3,013

-28-70-897-496

-1,700, -6,961-4,334

-30

-1,855

-1,210-400-246

-1,412

16

-303-212531

-1,249-2,4221,210-37

-179-587

-3,257-2303,894

12,452

1,7391,8151,985-170434316

-826

10,7143,327

13 3,1392,614-641,698

-2,272

-13,821-6,913-7,559-8,769

161,305

33

III

82,422

48,3123,028

3,462893

3,302

1,462395

1,613141

5,41413,0941,306

49

-94,801

-66,978-3,083

-4,909-1,511-3,251

-37-71-891-441

-1,753-7,461-4,416

-49

-2,119

-1,478-393-248

-9,089

529

-209-88826

-1,229-2,7561,48740

-8,388-3,713-1,571-233

—2,871

19,578

-2,703-974-611-363137

-1,403-463

22,2813,32213 9951,8611,31114,792

4,009

-18,666-12,379-13,020-14,498

529-2,840

IV

85,636

52,2832,827

2,320665

3,308

1,745399

1,628114

5,83413,4291,085

84

-98,472

-71,638-3,100

-2,984-1,157-3,272

-62-72-926-771

-2,050-7,924-4,516

-84

-3,128

-2,398-400-329

-13,435

-953

545-1,996

498

-1,305-2,3761,049

22

-11,178-285-983

-1,671-8,239

33,804

6,5553,0202,603417161

3,498-124

27,2492,3451,6731,134-22822,325

-4,405

-19,355-12,837-13,566-15,964

-9536,394

1984

IP

90,224

54,0852,600

2,853709

3,276

1,522404

1,728120

8,02813,7101,190

27

-106,458

-79,393-2,884

-2,862-1,287-3,406

63-72

-1,018-428

-2,226-8,342-4,604

-27

-2,126

-1,429-393-304

-7,148

-657

-226-200-231

-2,090-2,688

840-242

-4,401-4,311

244n.a

-334

11,803

-2,859-305-269-36185

-2,140-599

14,6621,8621,4901,547n.a

9,763

13,704

-25,308-16,234-16,931-18,360

-657-3,044

Line

1

23

456

78910

111213

14

15

1617

181920

21222324

252627

28

29

303132

33

3435363738

39404142

4344454647

48

49505152535455

565758596061

62

63

64656667

6869


Table 2.—U.S. International Trains[Millions

Line

1

23

456

789

10

111213

14

15

1617

181920

21222224

252627

28

29

30313?,

33

3435363738

39404142

4344454647

48

49505152535455

565758596061

62

6363a

64656667

6869

(Credits +; debits -) 1


Merchandise, adjusted, excluding military 3

Transfers under U S military agency sales contracts

TravelPassenger faresOther transportation . . . . .

Fees and royalties from affiliated foreignersFees and royalities from unaffiliated foreignersOther private servicesU.S. Government miscellaneous services

Receipts of income on U.S. assets abroad:Direct investmentOther private receiptsU.S. Government receipts..




Direct defense expenditures.



Payments of income on foreign assets in the United States:Direct investmentOther private paymentsU.S Government payments

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

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


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

U.S. official reserve assets, net 4Gol^lSpecial drawing rightsReserve position in the International Monetary FundForeign currencies

U.S. Government assets, other than official reserve assets netU.S. loans and other long-term assets ..'.Repayments on U.S. loans 5


U.S. private assets, netDirect investmentForeign securitiesU.S. claims on unaffiliated foreigners reported by U.S. nonbanking concernsU.S. claims reported by U.S. banks, not included elsewhere




Other 7


U.S. liabilities reported by U.S. banks, not included elsewhereOther foreign official assets 9 ...

Other foreign assets in the United States netDirect investmentU.S. Treasury securities.. ..U.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 (sum of above items with sign reversed)Of w h ich seasonal adjustment discrepancy


Balance on goods, services, and remittances (lines 65, 31, and 32)Balance on current account (lines 65 and 29) 10

Transactions in U.S. official reserve assets and in foreign official assets in the United States:Increase (— ) In U.S. official reserve assets net (line 34)Increase ( + ) in foreign official assets in the United States (line 49 less line 53)

Ref.

(table 2,March1984

Survey)

1

23

456

789

10

111415

16

17

1819

202122

23242526

273031

32

33

343536

37

3839404142

43444546

474851

52+5354+55

56

57585960616263

64656869

70+7172+73

74

7575a

76777879

8081

I

49,187

30,9472094

1 673367

1878

1 130288

1056142

59173250

445

76

54 205

42 1101680

2008731

2 145

100-69612378

63017851 957

76

— 1,209

770254185

15 219

187

16324121

1 009l'671

70543

143974 7711 11522416270

18183

154481302112904

117553

1456418

27351355

881396507404

3 262122

11 163501854576227

18714895

19r

II

53,819

35,3921934

1788367

1987

1 113294

1077163

58413375

488

49

56 960

437541752

2028710

2216

92-68631383

126219652099

49

-1,316

-831270215

5606

248

10443785

1 2571998

72912

45973 7201 094

31598

851

511355985809

2119464

643

59642313

7931082

3041472

9 212792

83623 14136264 457

2485019

8

III

56,214

36,8111894

1839407

2,088

1 174298

1079159

6,2313797

437

62

58 378

443891874

2231730

2321

-98-69655381

126122112158

62

-1,251

-776276

-199

9703

115

4319537

13942161

74522

84242753

510-29

5132

16,882

490335563093

463323919105

1197926201068

296912

9219

3 7642981

75782 16426393 415

1154580

IV

60,775

38,9042050

1883462

2,183

1,288300

1084156

7,4694523

473

49

60792

457672045

2208725

2442

-104-71

-676402

105828342460

49

-1,331

-800287

-244

30,601

18265

14123,2754440

9991,640

763-122

— 29,7844812

907-1,89822167

28,120

1844013,24213367

1251,6943240

264

96811608

1 1 1 572480166

5854

3 8292067

686317

5481 348

18216746

I

64,907

42,0361903

2044497

2,298

1,171298

1058128

7,7425180

552

29

62 839

468162001

2230760

2470

-125-75687421

142330672763

—29

-1,313

-854265

-194

—8,214

3585

1 142-86

2357

1094-1,900

853-47

—3,5355465

908-3,088

5926

2,307

8697-8,837

88325

-3151

222

110041553

1 1 2 564409296

6773

1,139

4 01365

478020681609

755

3 5858666

19

II

68,178

43,8341,695

2075532

2,364

1,216299

1,082152

9,0635338

528

47

68,085

51 171-1,936

2377794

2630

-126-77

-698442

1623-3464

2746

—47

-1,386

-911-281-194

— 15,777

322

6-78394

970-1,906

91917

— 15,1297220

492504

-7921

6,862

9775-12,766

1286094

3532436

202

166373353

57524799

12018

10 207990

733793

3821 293

32210128

79

III

74,257

47,2361,574

2,058540

2,589

1,265301

1,093156

10,8825963

600

95

72,224

54262-2,087

-2381802

2828

-119-78

-703451

1769-3,991

2753

-95

-1,417

-881-304-232

-26,069

2,779

-522,831

-779-1,808

98841

-28,0697 1662331

739-17,833

24,449

60365,3595,026

333339172166

1841333821502

166210

13153

1 0043254

702620331497

616

27795697

IV

79,454

51,36i71,344

2,264587

2,720

1,328305

1,17084

10,4967,174

615

294

—78,964

59,779-2,270

-2,425828

2,978

153-78734

—404

— 1,542-4,959

2814

-294

-1,5315

-904-331)-301

14,271

-649-65

27-611

-9042,0831,165

14

12,7185370

99532

-6,385

5,134

-1,228-5,728-5,769

4]-7014,656

545

63623,588

11 951252!908663

10 18122332

8412490141

1 045

649—527

See footnotes on page i

June 1984

actions—Seasonally Adjustedof dollars]

SURVEY OF CURRENT BUSINESS 47

I

85,317

54,7521,702

2,547612

2,771

1,367311

1,21294

11,3488,011590

143

-85,178

-64,483-2,550

-2,603-840

-3,055

-109-76-725-421

-1,726-5,537-3,053

-143

-1,902

-1,342-311-249

-12,949

-3,268

-1,152-34

-2,082

-1,441-2,6111,006164

-8,240-5,188-787

-1,062-1,203

8,568

-7,413-4,556-5,357

801-19

-3,198360

15,9803,306

"3,3002,435340

6,599

1,152

4,993-721

-9,731139

-421-1,763

-3,268-7,394

1980

II

82,856

55,8431,923

2,534642

2,843

1,465319

1,27777

7,2538,089591

151

-82,815

-62,414-2,484

-2,481-891

-2,998

-66-74-742-414

-2,101-5,213-2,937

-151

-1,368

-810-314-244

-24,893

-502

ii'2-99489

-1,159-2,3501,142

49

-24,236-2,659-1,387-25

-20,165

9,882

7,7314,6104,360250593

1,676851

2,1515,765

-1,271496

1,671-4,509

16,338886

-6,57141

-517-1,327

5027,137

III

85,584

55,7852,437

2,737682

2,936

1,453330

1,315102

9,8497,277681

259

-80,614

-59,783-2,610

-2,611-951

-2,813

-52-74-747-478

-3,300-4,203-2,992

-259

-1,521

-919-338-264

-19,522

-1,109

-261-294-554

-1,382-2,5761,185

9

-17,031-4,156-944509

-12,440

14,439

7,5644,3433,794549-671,8231,465

6,8744,721-278263

1,252916

1,635-2,725

-3,9984,9704,3683,449

-1,1097,631

IV

88,730

57,8892,212

2,770655

3,068

1,495344

1,354125

8,6969,422700

203

-84,906

-63,101-2,867

-2,702-925

-2,924

-200-73-695-418

-1,531-5,940-3,530

-203

-2,286

-1,660-339-287

-28,752

-4,279

1,285-1,240-4,324

-1,178-2,3221,124

20

-23,295-7,219-450

-2,596-13,030

25,197

7,6147,4986,911587107

-460469

17,5833,099894

2,2633,5907,737

2,0172,561

-5,2123,8243,1981,538

-4,2797,507

I

94,002

60,7932,140

3,108734

3,180

1,458361

1,43097

8,42711,374900

183

-88,952

-65,275-2,672

-2,913-1,127-3,119

-150-74-749-442

-1,778-6,704-3,949

-183

-1,494

-960-335-199

-23,351

-4,529

-i,44'i-707

-2,381

-1,361-2,5941,065168

-17,461-2,044-505

-3,248-11,664

8,195

5,4477,6967,24245431

-3,109829

2,7472,6101,3902,419121

-3,793

1,093

10,508-1,109

-4,4825,0504,5163,556

-4,5295,416

19

II

94,793

60,0642,571

3,102804

3,108

1,445372

1,460131

8,41512,443878

206

-92,113

-67,373-2,962

-2,761-1,100-3,189

-39-73-734-458

-2,019-7,164-4,241

-206

-1,563

-986-333-244

-22,284

-905

-23-780-102

-1,491-2,3651,051-177

-19,888-5,709-1,5662,389

-15,002

14,523

-3,075-1,542-2,078

536-132

-2,048647

17,5995,186747

3,58913

8,063

6,644813

-7,3092,6802,1031,117

-905-2,943

81

III

93,352

57,8122,859

3,228804

3,137

1,448378

1,473125

7,55413,546988

227

-91,065

-66,214-2,611

-2,894-1,119-3,125

-96-72-742-459

-1,795-7,661-4,277

-227

-1,860

-1,232-398-230

-17,254

-4

-225-647868

-1,268-2,4201,121

31

-15,982-1,124-7261,178

-15,310

17,341

-5,908-4,070-4,615

545-432

-2,380974

23,2485,363

ii_444767

1,08416,478

-513-1,091

-8,4022,2871,659427

-4-5,476

IV

93,576

58,4162,433

3,475769

3,135

1,443379

1,493146

8,15312,820914

59

-90,468

-66,224-2,874

-2,911-1,141-3,041

-151-70-778-506

-1,461-7,024-4,287

-59

-1,916

-1,273-397-246

-48,086

262

-134-358754

-986-2,2881,159143

-47,362-745

-2,918-1,500-42,199

41,255

8,5394,2244,470-246233

3,867215

32,7169,989

11 1,253396

-30121,380

5,6381,389

-7,8083,1082,4651,192

2628,306

I

90,082

55,4822,892

3,280805

3,127

1,460388

1,625134

5,99013,8411,058

89

-87,812

-62,546-2,840

-3,074-1,233-3,019

-33-68-841-505

-955-8,231-4,467

-89

-2,105

-1,481-315-309

-31,960

-1,089

-400-547-142

-803-1,8491,110-64

-30,06846

-6503,879

-33,343

28,344

-3,221-1,628-1,327-301-89

-1,684180

31,5653,1591,3021,314-65

25,856

3,450-964

-7,0642,2701,646165

-1,089-3,132

19

II

91,274

55,1183,295

3,178795

3,113

1,308390

1,659111

5,59215,7131,002

118

-87,545

-60,921-3,056

-3,165-1,183-2,985

38-66

-869-566

-1,112-9,340-4,320

-118

-1,802

-1,101-384-317

-41,409

-1,132

-241-814-77

-1,700-2,5241,024-200

-38,5771,636-502-308

-39,403

33,772

1,399-1,836-2,094

258428

2,79710

32,3733,630

"2,0982,543

-2,02326,125

5,710487

-5,8033,7293,0281,927

-1,132971

82

III

87,158

52,0793,027

3,039774

3,058

1,436394

1,671175

5,65114,880974

229

-90,389

-64,442-3,029

-2,945-1,148-2,877

25-66-891-626

-1,062-8,676-4,652

-229

-1,745

-1,088-379-278

-26,216

-794

-434-459

99

-2,555-3,453

974-76

-22,8671,140

-3,410808

-21,405

18,384

2,4774,6114,803-192-177

-1,870-87

15,9073,264

11 1,408633

-28210,884

12,808-2,276

-12,363-3,231-3,888-4,976

-7942,654

IV

80,936

48,5192,995

2,896800

3,015

1,357399

1,680113

5,03613,0401,086

158

-84,844

-59,758-3,089

-3,210-1,208-2,841

42-67-929-541

-999-7,586-4,658

-158

-2,406

-1,753-396-257

-19,314

-1,950

-297-732-920

-1,086-2,2381,174-22

-16,2791,934

-3,5412,247

-16,919

14,680

2,6643,8874,346-459221

-990-454

12,0174,812

"2,2541,907-133,057

10,9472,752

-11,239-3,908-4,561-6,314

-1,9502,443

I

81,111

49,2463,798

2,832779

3,113

1,555393

1,629148

4,08712,4211,110

42

-82,481

-58,523-3,008

-2,940-1,174-2,873

-44-69-895-575

-1,231-6,758-4,391

-42

-1,573

-974-385-214

-24,364

-787

-98-2,1391,450

-1,130-2,3781,325-77

-22,447793

-1,866-3,199-18,175

15,888

-2522,6413,012-371-533

-1,978-382

16,1392,305

"2,9243,0032,33710,244

11,420-579

-9,277-1,370-1,969-2,943

-787281

19

II

81,355

48,7453,084

2,806792

3,122

1,608393

1,604228

5,26112,4691,243

30

-89,067

-63,615-3,031

-3,500-1,449-2,902

-28-70-897-580

-1,700-6,961-4,334

-30

-1,848

-1,210-400-238

-1,060

16

-303-212531

-1,251-2,4221,208-37

175-232

-3,257-2303,894

12,452

1,7391,8151,985-170434316

-826

10,7143,327

"3,1392,614-641,698

-1,833439

-14,870-7,712-8,350-9,560

161,305

83

III

84,826

50,4373,028

2,998685

3,241

1,509395

1,613118

6,24713,0941,281

49

-94,529

-67,938-3,083

-3,741-1,419-3,190

-37-71-891-529

-1,753-7,461-4,416

-49

-2,143

-1,478-393-272

-9,223

529

-209-88826

-1,204-2,7561,512

40

-8,548-3,873-1,571-233

-2,871

19,578

-2,703-974-611-363137

-1,403-463

22,2813,322"9951,8611,31114,792

1,491-2,518

-17,501-9,703-10,368-11,846

529-2,840

IV

84,910

51,8292,827

2,772781

3,326

1,603399

1,628136

4,98213,4291,198

84

-99,037

-71,236-3,100

-3,796-1,490-3,357

-62-72-926-508

-2,050-7,924-4,516

-84

-3,086

-2,398-400-288

-14,843

-953

545-1,996

498

-1,429-2,376

92522

-12,461-1,568-983

-1,671-8,239

33,804

6,5553,0202,603417161

3,498-124

27,2492,3451,6731,134-22822,325

-1,7482,657

-19,407-14,127-14,815-17,213

-9536,394

1984

I"

90,620

54,1642,600

2,977853

3,343

1,616404

1,728144

7,95713,7101,124

27

-107,876

-79,805-2,884

-3,552-1,405-3,515

63-72

-1,018-516

-2,226-8,342-4,604

-27

-2,152

-1,429-393-330

-5,927

-657

-226-200-231

-1,989-2,688

941-242

-3,281-3,191

244n.a.

-334

11,803

-2,859-305-269-36185

-2,140-599

14,6621,8621,4901,547n.a.

9,763

13,532-172

-25,641-17,256-17,979-19,408

-657-3,044

Line

1

23

456

78910

111213

14

15

1617

181920

21222324

252627

28

29

303132

33

3435363738

39404142

4344454647

48

49505152535455

565758596061

62

6363a

64656667

6869


Table 3.—U.S.[Millions

Line

A

1

2

3

456

78

9

10

1112131415

1617

18

B

1

23456789

1011

121314

15

1617181920

2122232425262728

2930

31

323334

Balance of payment adjustments to Census trade data:

EXPORTS

Merchandise exports, Census basis1 including reexports and ex-cluding military grant shipments.

Adjustments:

Private gift parcel remittances

Gold exports, nonmonetary

Inland U.S. freight to CanadaU.S.-Canadian reconciliation adjustments, n.e.c., net 2

Merchandise exports transferred under U.S. military agency salescontracts identified in Census documents.3

Other adjustments, net 4

Of which quarterly seasonal adjustment discrepancy 5

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

IMPORTS

Merchandise imports, Census basis1 (general imports) ..

Adjustments:

Electric energy ...Gold imports, nonmonetaryInland freight in CanadaU S.-Canadian reconciliation adjustment nee net 2

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

Other adjustments, net 6Of which quarterly seasonal adjustment discrepancy 5

Equals: Merchandise imports, adjusted to balance of paymentsbasis, excluding "military" (table 1, line 18).

Merchandise trade, by area and country, adjusted to balance ofpayments basis, excluding military: 7

EXPORTS

Total, all countries

Western EuropeEuropean Communities (10) .

Belgium and LuxembourgFranceGermany, Federal Republic of..

NetherlandsUnited KingdomOther

Western Europe, excluding EC (10)

Canada2

JapanAustralia, New Zealand, and South Africa

Eastern Europe

Latin America and Other Western HemisphereBrazilMexicoVenezuela ....Other

Other countries in Asia and AfricaAsia

Members of OPEC ..ChinaHong KongKorea Republic ofSingaporeTaiwan

AfricaMembers of OPEC

International organizations and unallocated

Memoranda:

Industrial countries7

Members of OPEC 7

Other countries7

1973

70,938

85

4041,158

-1,278

103

71,410

70,473

109156305510

-310

276

70,499

71,410

2121616708162723193723213425563760

5714508

1671083562,247

2047

9,961n a

29621 026

n a

10,873n a

1724n an an an an a

491

485293414

19467

1974

98,042

94

5571,250

-1,753

116

98,306

102,576

179359

154-361

904

103,811

98,306

28 164217442*36830074687275036634706

5476420

21 842107243,757

1737

15820n a

48601 778n a

16262n a

3311n an a

n an a

804

644876219

27600

1975

107,651

92

6011,148

-2,620

216

107,088

98,509

10383

160-293

57

98,185

107 088

298842285424643 1055052285538094881

6157030

2353795673508

3249

17 108n a

51662 250

n a

20235n a

5809n an an an an a

n a1484

664969957

30635

1976

115,229

86

6591,546

-2,976

201

114,745

123,478

164608

92-297

367

124,228

114,745

318832491730033,5525404305941615101

7266966

26336101963,920

4123

16,871n a

50112 622

n a

21,416n a

6948n an an an an a

n a1581

723351156130849

1977

121,231

92

14

6912,027

-3,285

46

120,816

150,390

3531286

188-239

305

151,907

120,816

34094264943 1673,536585027904 1726035

9257,600

28533105663,777

2895

17,921n a

48343 162

n a

23,030n a

7319n an an an an a

n a1839

769701287730969

1978

143,682

102

36

7562,118

-4,720

80

142,054

174,757

422844

247-162

406

176,020

142,054

39,5463177836824,25872043,37148437,2771 1237,768

31229129604,213

3893

22,0332959668937278658

28,180234668633

863162529291,4522165

45761886

879481484639260

1979

181,860

109

159

8994,662

-3,229

13

184,473

209,458

6231407

403-225

362

212,028

184,473

54,1774247452235,663869444596334

10,6861425

11,703

38690176295,434

5913

28,555342599313933

11266

34,0752914183721,7312082383022513089

47061557

115 9301455653987

1980

220,626

156

317

1,0435,103

-3,317

341

224,269

244,871

6642772

419-394

1449

249,781

224,269

67,603534666,6737,539

114495,6067454

12,8181693

14,137

41626208067,117

4,143

38,8444,359

152314574

14680

44,0973733296553,821268244033,0284089

65042281

33

137 1521736869716

1981

233,677

178

1,285

1,1515,108

-4,921

606

237,085

261,305

9401,816

623-307

709

265,086

237,085

65,108513665,6437,431

10,5025,4157,358

12,4832,622

13,742

4601621,7968,998

4,440

42,8043,784

182075441

15,372

47,83539,47311 5973,6242,63349982,9674033

78733207

88

141 9182109773982

1982

212,193

163

883

9674,485

-7,369

-124

211,198

243,952

9101,4621,118

115-427

537

247,667

211,198

59,70146,9055,1537,1949,2134,6417,455

10,6942,419

12,796

39,20320,6947,656

3,749

33,1523,446

11,7365192

12,779

46,97839,817120002,9202,45052863,2064006

69332647

65

127 2542065163228

1983

200,486

220

350

1,0274,449

-6,546

271

200,257

258,048

999290

1,35738

-451

1,031

261,312

200,257

54,87743,3324,9735,9728,3583,9027,635

10,3842,216

11,545

43,81321,6776,584

2,918

25,5812,5509,0812,700

11,251

44,74238,35410,1432,1732,5635,6713,7024,260

58201,713

65

1126 95115,14958092



Merchandise Tradeof dollars]

Not seasonally adjusted

1982

I

55,295

41

250

2421,214

-1,615

-140

55,287

61,694

259211278307129

46

62,666

55,287

15,74512,2921,3491,8352,5511,1911,9802,755624

3,453

9,8635,1992,022

1,618

8,727853

3,6171,2453,012

12,08110,0033,064905606

1,168738

1,050

1,918799

32

32,8285,31017,116

II

57,011

38

141

2521348

-1,827

-275

56,688

60,498

18431129213

— 108

247

61,437

56,688

15,78912,4101,3751,8802,4281,3602,1282,740620

3,379

10,8015,0682,245

1,030

9,378925

3,5751,3523,527

12,37710,4953,213809626

1,387785

1,052

1,867704

33,9025,47617,310

III

50,214

24

198

236966

-1,688

151

50,101

62,819

200546269

-216—97

21

63,542

50,101

13,68210,7231,2111,7072,004990

1,584/2,597599

2,959

9,3535,1161,868

382

8,185993

2,8051,3533,034

11,4829,8212,960687644

1,371877919

1,425446

33

30,0184,98215,068

IV

49,673

60

294

237957

-2,239

140

49,122

58,941

26739427911

—93

223

60,022

49,122

14,48511,4801,2181,7722,2301,1001,7632,602576

3,005

9,1865,3111,521

719

6,862675

1,7391,2423,206

11,0389,4982,763519574

1,360806985

1,723698

30,5024,88313,737

1983

I

50,060

57

224

236719

-1,701

-270

49,325

58,053

228117334

—69

-125

58,538

49,325

14,94811,5491,2441,8072,0721,1352,2242,671572

3,399

9,8824,7281,430

806

6,198571

2,085853

2,690

11,3329,6052,660669571

1,377933822

1,639467

30,9874,09614,242

II

50,491

52

99

2601,355

-1,805

-115

50,337

63,504

226893423811Q— iiy

78

64,158

50,337

13,67410,8721,2161,5102,1081,0231,8342,656541

2,802

11,6705,2081,844

618

6,155673

2,309519

2,653

11,1359,6912,586365683

1,4241,1861,044

1,453424

33

32,3963,68114,227

III

48,377

36

2591,213

-1,899

326

48,312

66,379

26040313

10Q— \.£tO

115

66,978

48,312

12,3489,9061,1501,2481,992794

1,7512,407554

2,442

10,5265,5971,653

396

6,767671

2,419589

3,089

11,0259,2952,517398621

1,398714

1,167

1,441389

30,1233,67214,518

IV

51,558

75

27

2721,162

-1,141

330

52,283

70,112

28544368

10/4— J.O4

963

71,638

52,283

13,90711,0051,3631,4072,186950

=1,8262,650549

2,902

11,7356,1441,656

1,098

6,461635

2,268739

2,819

11,2509,7632,380741688

1,472869

1,227

1,287433

32

33,4403,70015,110

1984

I"

53,782

59

45

3691,283

-1,122

-331

54,085

79,346

27271414

•tAQ— I4o

-562

79,393

54,085

14,90011,9521,3191,5702,3371,1622,0712,932562

2,948

12,9675,5911,949

968

6,880509

2,817842

2,713

10,8309,4342,240570656

1,389825

1,109

1,341357

35,4053,63615,044

Seasonally adjusted

1982

I

55,659

41

250

2501,214

-1,615

-317— 177

55,482

62,161

22321127830710Q— i y

-505-551

62,546

55,482

15,78712,3461,3571,8542,5651,1931,9612,785625

3,441

9,9825,1852,053

1,559

8,794853

3,6581,2523,031

12,09010,0283,097879609

1,158747

1,051

1,905797

32

33,0055,35017,093

II

54,952

38

141

2381,348

-1,827

228503

55,118

59,378

17831129213

1AQ— 1UO

857610

60,921

55,118

15,37512,0691,3361,8182,3631,3282,0992,645602

3,306

10,4674,9572,164

1,056

9,089897

3,4631,3093,420

12,01210,1783,089803607

1,356756

1,028

1,820689

32,9625,28716,870

III

52,843

24

198

247966

-1,688

-511-662

52,079

63,361

223546269216—97

356335

64,442

52,079

14,23711,1471,2611,7612,0801,0331,6802,680622

3,090

9,6145,3491,923

419

8,4861,0282,8931,4013,164

12,01910,2573,072734669

1,441901966

1,510471

oq

31,1225,17515,749

IV

48,870

60

294

232957

-2,239

345205

48,519

59,053

28639427911

—93

-172-395

59,758

48,519

14,30311,3431,2001,7622,2071,0881,7152,584570

2,959

9,1405,2031,515

717

6,783668

1,7221,2293,164

10,8579,3552,742503566

1,331801962

1,699690

30,1614,84013,519

1983

I

50,234

57

224

242719

-1,701

-529259

49,246

58,459

188117334

—69

-506-381

58,523

49,246

14,93111,5461,2441,8212,0721,1342,1892,693570

3,385

9,9674,6761,446

778

6,172569

2,069851

2,684

11,2769,5812,672661573

1,360947811

1,610463

31,0204,10114,125

II

48,709

52

99

2491,355

-1,805

86201

48,745

62,276

2278934238

— 119

762-684

63,615

48,745

13,24010,5181,1751,4562,040994

1,7932,554522

2,722

11,2855,0661,775

631

5,957653

2,240503

2,561

10,7589,3572,471360660

1,3881,1431,013

1,413414

33

31,3663,53413,812

III

50,325

36

2651,213

-1,899

497171

50,437

66,993

28940313

— 129

432317

67,938

50,437

12,91510,3411,2021,2932,080830

1,8522,495580

2,574

10,8335,8921,709

437

7,069699

2,527620

3,223

11,5849,7442,633415646

1,476740

1,230

1,537411

31,3493,84915,241

IV

51,394

75

27

2711,162

-1,141

41-289

51,829

70,423

29544368

— 134

240-723

71,236

51,829

13,79110,9281,3521,4032,166945

1,8012,643545

2,863

11,7286,0431,650

1,074

6,383630

2,244726

2,783

11,1279,6722,367738684

1,446872

1,207

1,260424

32

33,2123,66414,920

1984

I"

53,266

59

45

3811,283

-1,122

252583

54,164

79,504

24471414

— 148

-280282

79,805

54,164

14,90611,9811,3211,5812,3421,1592,0482,962566

2,925

13,1125,5571,963

930

6,890509

2,816840

2,724

10,8079,4342,250567658

1,378835

1,102

1,324353

35,5373,64014,987

Line

2

3

456

78

9

10

1112131415

1617

18

1

234567891011

121314

15

1617181920

2122232425262728

2930

31

323334


Table 3.—U.S. Merchandise[Millions

Line

B

35

36373839404142434445

464748

49

5051525354

5556575859606162

6364

65

666768

69

70717273747576777879

808182

83

8485868788

8990919293949596

9798

99

100101102

Merchandise trade, by area and country, adjusted to balance ofpayments basis, excluding military— Continued 7

IMPORTS

Total, all countries...

Western EuropeEuropean Communities (10)

Belgium & LuxembourgFranceGermany, Federal Republic ofItalyNetherlandsUnited KingdomOther


Canada2


Eastern Europe ..

Latin America and Other Western Hemisphere ,BrazilMexicoVenezuelaOther


Members of OPECChinaHong KongKorea, Republic ofSingaporeTaiwan



Memoranda:

Industrial countries 7

Members of OPEC 7 ...Other countries 7

BALANCE (EXCESS OF EXPORTS +)

Total, all countries

Western EuropeEuropean Communities (10) ...

Belgium & LuxembourgFranceGermany, Federal Republic of .. .

NetherlandsUnited KingdomOther


Canada 2


Eastern Europe

Latin America and Other Western HemisphereBrazilMexicoVenezuelaOther


Members of OPEC ...ChinaHong KongKorea, Republic ofSingapore ..Taiwan



Memoranda:

Industrial countries 7

Members of OPEC 7

Other countries 7

1973

70,499

19774158161,274174155912,00410373527

6703,958

17,69496651,852

601

9,644n a

2,3061814n a

11269n.a

1759n an.a.n an an a

n a1339

489855097

16417

911

1,442892353578

1868130

151923399

550

9841309

395

1446

317n a656788n a

396n a

35n an.a.n an.a.n a

n a848

45616833,050

1974

103 811

24267192441,658233963022,58914374123

7235,023

22,554124142,019

977

18,658n a

3,3914777

n a

22922n a


n a4991

612541723425323

5 505

38972500

710668

1615161

2226583176

1397

71216901,738

760

2838n a

1,4692 999

n a

6660


n a4187

3233110152,277

1975

98185

20764165131,184214453582,39110823737

6314,251

21,854112572242

734

16,177n a

3,0593727

n a

25157n a

8531n an an an an a

n a6178

561171889723171

8903

912063411280

961306464

27271 144

162779

1 68316901266

2515

931

21071 477

n a

4922

2722n an an an an a

4694

1037989407464

1976

124 228

23003177391,116252155812,52510764160

7565,264

26,652155312,479

875

17,208n a

3,5993597

n a

38171n a

13090n an.an an an a

n a10178

309

676652740928845

9 433

8880717818871031

177534

308594130

1 702

31653351441

3248

337n a

1412975n a

16755

6142n an an an an a

8597

-309

4 670158482004

1977

151 907

2822622119

1,449304672493,03814785135

8216,107

29,864185652792

1 127

21,164n a

4,6944117

n a

49515n a

17020n an an an an a

n a14020

654

794473577836028

31 091

586843751718

4901399

2482694

900104

1 493

1 3317999

985

1768

3243

140955n a

26485

9701n an an an an a

12181

-654

2477229015059

1978

176,020

3661829,058

1,76240689,9704,10815906,4751,0097,560

33,75824,5414,440

1,508

23,0412,8266,0943,589

10,532

51,36235,68316162

'3263,47637461,0685174

15,50012794

752

99,3573328642625

33966

2,92827201,920

1902,766

7373253

802114208

252911581-227

2385

1008133595138

1874

23182122177529

537-1,851

817384

3009

1092410908

-752

11 409184403365

1979

212,028

4182633,228

1,7394783

10,9534,92318518,0091,0328,598

39,229262615,493

1,896

30,5353,1338,8015204

13,397

6560242,42519306

5943,99840471,4675908

22,96519699

1,186

112,8094503952994

27 555

12,35192463,484

880-2,259

46444832,677

3933 105

5398632-59

4017

1980292

1,1301 2712131

3152713284109341 137

-1,916217784

2819

1825918142

-1,186

3 12130483

993

1980

249,781

4725536,097

1,9125263

11,6924,30918959,8481,137

11,158

42,903312176,533

1444

37,5253,793

12,5845314

15,834

" 81,61749,9312279210574,73942441,9216854

31,10326620

1,287

127,9085560264984

25512

20,348173694,7612276-24312975,5592,970

5562979

127710411

584

2699

1319566

2,647740

1 154

3752012599131372764

-2,057159

1 1072765

2459924339

— 1,254

9 244382344732

1981

265,086

52,87341,424

2,2815,839

11,3895,1812,348

12,7461,693

11,449

48,25837,598

5,610

1,553

39,0994,475

13,7675,563

15,294

80,09555,30223330

1,8925,4225,1412,1148049

24,64820020

144,3394993470,813

28,001

12,2359,9423,3621,592-887

2345,010-263

9292,293

2242— 15,802

3,388

2887

3,705691

4,44012278

3226015829117331732

-2,789143853

4016

1677516813

88

2421288373169

1982

247,667

52,90842,3492,3865,533

11,9025,2902,476

13,0461,696

10,559

48,52637,6855,033

1,067

38,5594,808

15,5564,761

13,434

63,86647,89414,7842,2845,5315,6672,1938,892

15,94110,840

23

144,15231,51771,975

36,469

6,7934,5562,7671,661

-2,689-6494,979

-2,352723

2,237

9323-16,991

2,623

2,682

-5,4071362

-3,820431

—655

1688880772784'636

-3,081381

1,0314886

90088193

42

16 898108668747

1983

261,312

53,89643,739

2,4026,011

12,6425,4442,960

12,3921,861

10,157

54,35941,3075,317

1,371

41,8674,953

16,7744,,937

15..204

63.19550..54410.873212486,3747,1922!,864

11,204

12,3987,945

154,53425,18581,592

-61,055

981-4072,571-39

4,284-1,542

4,675-2,008

3551,388

10546-19.630

1,267

1,547

-16,2862,403

-7,6932237

-3,953

-18,45312190

730-75

-3,8111521

8386944

65786232

65

2792810 03623,156


June 1984

Trade—Continued

of dollars]

SURVEY OF CURRENT BUSINESS 51


1982

I

62,666

12,76010,068

5521,4142,9401,382553

2,817431

2,692

12,0299,9931,135

265

9,2071,0203,6821,2643,241

17,27712,2104,636556

1,1891,304493

1,969

5,0803,666

35,9169,85216,897

-7,379

2,9852,224797421

-389-1911,427-62193762

-2,166-4,794

887

1,353

-480-167-65-19-229

-5,196-2,207-1,572

349-583-136245

-919

-3,162-2,867

32

-3,088-4,542

219

II

61,437

13,68110,862574

1,4583,2371,392622

3,107448

2,819

12,6679,6471,192

287

9,2621,0023,8311,0423,386

14,67811,4933,275488

1,2721,429556

2,217

3,1791,894

23

37,1876,47817,749

-4,749

2,1081,548801422

-809-321,506-367172560

-1,866-4,5791,053

743

116-77-256310141

-2,301-998-62321

-646-42229

-1,165

-1,312-1,190

-23

-3,285-1,002-439

III

63,542

13,15910,581590

1,3252,8431,334687

3,427392

2,578

11,7559,5861,367

297

9,9261,4234,1051,0303,369

17,45213,4684,108697

1,6441,608614

2,578

3,9462,813

35,8668,25019,426

-13,441

523142621382

-839-344897

-830207381

-2,402-4,470

501

86

-1,741-430

-1,300323

-335

-5,970-3,647-1,148-10

-1,000-237263

-1,659

-2,521-2,367

33

-5,848-3,268-4,358

IV

60,022

13,30810,838670

1,3362,8821,182614

3,695425

2,470

12,0758,4591,339

218

10,1641,3633,9381,4253,438

14,45910,7232,765543

1,4261,326530

2,128

3,7362,467

35,1806,93717,904

-10,900

1,177642548436

-652-821,149

-1,093151535

-2,889-3,148

182

501

-3,302-688

-2,199-183-232

-3,421-1,225

-2-24-852

34276

-1,143

-2,013-1,769

-4,678-2,054-4,167

1983

I

58,538

12,58710,070578

1,5742,9321,296604

2,668429

2,517

12,5139,2941,134

292

9,4611,0983,8041,1853,374

13,25710,6562,112534

1,4391,448546

2,390

2,5451,440

35,5264,99518,017

-9,213

2,3611,479666233

-860-1611,620

3143882

-2,631-4,566

297

514

-3,263-527

-1,719-332-684

-1,925-1,051

548135

-868-71387

-1,568

-906-973

-4,539-899

-3,775

II

64,158

13,76711,046667

1,5013,1581,330758

3,160482

2,721

13,9989,8221,328

308

10,7711,1654,4051,2433,959

14,16411,2471,934538

1,4181,709720

2,573

2,9091,886

38,9145,43219,812

-13,821

-93-1745499

-1,050-3071,076-504

5981

-2,329-4,614

516

310

-4,616-492

-2,096-724

-1,306

-3,029-1,556

652-173-735-285466

-1,529

-1,456-1,462

33

-6,518-1,751-5,585

III

66,978

13,75811,369599

1,4843,0421,475781

3,534418

2,389

12,80710,1721,287

412

10,5381,2794,1711,2433,846

18,00413,9623,118610

1,7232,114735

3,024

3,9962,806

38,0227,62121,335

-18,666

-1,410-1,463

551-236

-1,050-681970

-1,12713553

-2,280-4,575

366

-16

-3,771-608

-1,752-654-757

-6,979-4,667-601-212

-1,102-716-21

-1,857

-2,555-2,417

-7,899-3,949-6,817

IV

71,638

13,78411,254558

1,4523,5101,343817

3,030532

2,530

15,04112,0191,568

359

11,0971,4114,3941,2664,025

17,77014,6793,709566

1,7941,921863

3,217

2,9481,813

42,4127,13722,089

-19,355

123-249805-45

-1,324-3931,009-380

17372

-3,306-5,875

88

739

-4,636-776

-2,126-527

-1,206

-6,520-4,916-1,329

175-1,106-449

6-1,990

-1,661-1,380

32

-8,970-3,437-6,980

1984

I"

79,393

17,67314,232829

1,9854,3831,8771,0653,493600

3,442

16,69212,9991,259

480

12,4021,6574,5921,5304,622

17,88814,8282,516739

1,9202,162968

3,380

3,0431,706

48,6226,21724,554

-25,308

-2,773-2,280

490-415

-2,046-7151,006-561-38-494

-3,725-7,408

690

488

-5,522-1,148-1,775-688

-1,909

-7,058-5,394-276-169

-1,264-773-143

-2,271

-1,702-1,349

-13,217-2,581-9,510

Seasonally adjusted

1982

I

62,546

12,80610,107

5561,4242,9631,390553

2,806435

2,700

12,04410,0651,143

266

9,1191,0233,6511,2333,213

17,10612,1424,528556

1,1971,313496

1,982

4,9763,579

36,0579,62316,868

-7,064

2,9812,239801430

-398-1971,408-21190741

-2,062-4,880

910

1,293

-325-170

719

-182

-5,016-2,114-1,431

323-588-155251

-931

-3,071-2,782

32

-3,052-4,273

225

II

60,921

13,52110,729

5661,4343,1861,372615

3,090441

2,792

12,4979,4871,172

284

9,270990

3,8341,0623,384

14,67011,4353,337483

1,2501,405547

2,180

3,2291,938

23

36,6786,60517,618

-5,803

1,8541,340770384

-823-441,484-445161514

-2,030-4,530

992

772

-181-93-37124736

-2,658-1,257-248320

-643-49209

-1,152

-1,409-1,249

-23

-3,716-1,318-748

III

64,442

13,34610,732598

1,3472,8891,354697

3,467398

2,611

11,9569,7341,388

300

10,0391,4394,1491,0403,409

17,67913,6484,150706

1,6691,632624

2,617

3,9932,847

36,4248,33919,679

-12,363

891415663414

-809-321983

-787224479

-2,342-4,385

535

119

-1,553-411

-1,256361

-245

-5,660-3,391-1,078

28-1,000-191277

-1,651

-2,483-2,376

33

-5,302-3,164-3,930

IV

59,758

13,23710,781667

1,3272,8641,173611

3,683422

2,456

12,0308,3991,330

217

10,1331,3563,9221,4273,428

14,41510,6692,769539

1,4151,316526

2,112

3,7432,476

34,9946,95017,817

-11,239

1,066562533435

-657-851,104

-1,099148503

-2,890-3,196

185

500

-3,350-688

-2,200-198-264

-3,558-1,314-27-36-849

15275

-1,150

-2,044-1,786

-4,833-2,110-4,298

1983

I

58,523

12,63610,107580

1,5862,9571,305602

2,654433

2,529

12,5309,3721,143

292

9,3571,1033,7581,1533,342

13,19410,6492,055535

1,4501,459550

2,409

2,4861,398

35,6794,86117,983

-9,277

2,2951,439664235

-885-1711,587

39137856

-2,563-4,696

304

486

-3,185-534

-1,689-302-658

-1,918-1,068

617126

-877-99397

-1,598

-876-935

-4,659-760

-3,858

II

63,615

13,61510,924659

1,4773,1111,310753

3,148475

2,691

13,8409,6721,307

305

10,7871,1524,4141,2643,958

14,09111,1141,963534

1,3961,682711

2,533

2,9381,911

38,4325,50819,676

-14,870

-375-406516-21

-1,071-3161,040-594

4731

-2,555-4,606

468

326

-4,830-499

-2,174-761

-1,397

-3,333-1,757

508-174-736-294432

-1,520

-1,525-1,497

33

-7,066-1,974-5,864

III

67,938

13,95011,528608

1,5053,0871,496792

3,580425

2,422

13,01910,3211,305

418

10,6811,2974,2271,2593,897

18,24214,1553,158619

1,7472,144746

3,067

4,0412,834

38,5967,71021,632

-17,501

-1,035-1,187

594-212

-1,007-6661,060

-1,085155152

-2,186-4,429

404

19

-3,612-598

-1,700-639-674

-6,658-4,411-525-204

-1,101-668-6

-1,837

-2,504-2,423

-7,247-3,861-6,391

IV

71,236

13,69511,181

5551,4423,4881,334812

3,011528

2,515

14,97011,9421,562

356

11,0431,4024,3731,2624,006

17,66814,5943,697562

1,7811,908857

3,195

2,9321,801

42,1697,10721,960

-19,407

96-253797-39

-1,322-389989

-36817348

-3,242-5,899

88

718

-4,660-772

-2,129-536

-1,223

-6,541-4,922-1,330

176-1,097-462

15-1,988

-1,672-1,377

32

-8,957-3,443-7,040

1984

I"

79,805

17,82014,347837

2,0144,4461,8961,0613,487607

3,473

16,83113,1861,280

479

12,3121,6754,5601,4854,592

17,89714,9132,448745

1,9482,193978

3,429

2,9661,650

49,1176,03924,650

-25,641

-2,914-2,366

484-433

-2,104-737987

-525-41-548

-3,719-7,629

683

451

-5,422-1,166-1,744-645

-1,868

-7,090-5,479-198-178

-1,290-815-143

-2,327

-1,642-1,297

-13,580-2,399-9,663

Line

35

36373839404142434445

464748

49

5051525354

5556575859606162

6364

65

666768

69

70717273747576777879

808182

83

8485868788

8990919293949596

9798

99

100101102



Line

C

1

23

456789

1011121314151617

1819202122

232425

2627

28

2930

31

3233343536

37383940

4142434445

4647

Merchandise trade, by principal end use category, adjusted tobalance of payments basis, excluding military. 2

EXPORTS

Total (A-9)


Foods feeds and beveragesFoods, feeds and beverages — agriculturalGrainsSoybeansOther agricultural foods, feeds, and beveragesNonagricultural foods feeds and beverages

Industrial supplies and materialsAgricultural ...Nonagricultural

Energy productsFuels and lubricants

Petroleum and productsOther nonagricultural

Nonmonetary gold

Capital goods except automotiveMachinery, except consumer-type..Civilian aircraft complete-all typesParts and engines for civilian aircraftOther transportation equipment

Automotive vehicles, parts and enginesTo Canada 8

To all other areas ,

Consumer goods (nonfood), except automotive ,All other, including balance of payments adjustments not included

in lines C 4-26.

IMPORTS

Total (A-18)

Petroleum and products ....Nonpetroleum products


Industrial supplies and materialsEnergy products

Fuels and lubricantsNonenergy products

Nonmonetary gold

Capital goods except automotiveMachinery, except consumer-typeCivilian aircraft, engines and partsOther transportation equipment

Automotive vehicles parts and enginesFrom Canada

Passenger cars, new and usedFrom all other areas

Passenger cars, new and used

Consumer goods (nonfood) except automotiveAll other, including balance of payments adjustments not included

in lines C 31-46.

1973

71,410

17,97753433

1519914,8959,7322,7622,400

304

197902,899

168901,9551947

60514936

50

21,99917,45523151,748

481

6,9525,3041,648

4,8002,672

70,499

8,41562,085

9,119

276039,0768967

18,527514

82637,257

618388

107085,3312,1095,3763,749

128921,916

1974

98,306

22,41075896

1863818,36011,6193,5453,196

278

29,9423,787

26,1553,5963586

85022559

89

30,87824,6243,3952,234

625

8,8156,3402,474

6,3993,633

103,811

2660877,204

10568

5402927,6652748726,363

966

98199,097

63686

124255,6702,6266,7554,681

143802,589

1975

107,088

22,24384846

1923418,90712,6482,8823,377

327

29,7893,120

26,6694,7604742

98921910

459

36,63929,88031892,732

838

10,7947,1873,606

6,5604,071

98,185

2701871,167

9642

5063728,5562845322082

330

101669,521

54897

1208558382,8036,2474,332

132112,443

1976

114,745

23,38091,365

19,82919,40812,2233,3223,864

421

31,9933,688

28,3054,6734,6531,078

23,632354

39,11332,0343,2142,971

893

12,2298,4943,735

8,0223,557

124,228

34,57289,656

11,546

63,71737,1383697426,580

939

1228211,815

40661

167828,0253,4788,7585,470

17 1652,735

1977

120,816

24,33296,484

19,72419,11310,2444,4114,458

611

34,3124,642

29,6704,7804,7631,335

24,8901,093

39,76633,4872,7502,940

589

13,5359,6943,841

8,9314,546

151,907

44,982106,925

13,981

79,93348,0064765431,9271935

1398513,264

592129

193599,2383,795

10,1216,856

217962,853

1978

142,054

29,902112,152

25,15524,13213,4805,2015,4511,023

39,0445,334

33,7104,5074,5021,585

29,2041,163

46,47138,3323,6573,664

818

15,74210,4375,304

10,4665,176

176,020

42,312133,708

15,397

83,61346,07045,64837,5431765

19,70518,448

982275

2499310,4204,129

14,5729,545

289433,368

1979

184,473

35,595148,879

30,00528,79416,7115,7396,3431,212

58,1396,311

51,8286,6796,6761,970

45,1485,293

58,84347,2066,2974,354

986

18,40211,8776,526

12,8456,240

212,028

60,482151,546

17,366

108,97665,09564,47243,8812,912

25,02923,0371,518

474

26,4339,6703,707

16,76311,135

305663,657

1980

224,269

42,156182,113

35,72134,59320,8585,8887,8481,128

71,9477,032

64,9158,9848,9452,997

55,9314,176

74,21058,3168,6005,8201,474

17,54010,2877,252

16,6338,218

249,781

79,263170,518

18,127

133,29085,06584,40048,2265,565

31,16126,9892,9841,188

27,9038,7103,802

19,19313,017

34,4454,854

1981

237,085

44,035193,050

38,16336,89322,1266,2298,5381,270

69,9506,630

63,31911,03611,0164,059

52,2834,398

81,61465,5808,8094,9862,239

19,79111,5668,224

16,38611,184

265,086

77,794187,292

18,113

135,22283,96083,02051,2624,014

36,67932,6053,749

325

30,89510,7064,295

20,18913,474

38,6645,515

1982

211,198

37,230173,968

31,62030,45417,1696,2517,0341,166

63,6206,357

57,26313,29413,2896,465

43,9691,999

73,67561,6064,8834,9392,248

17,39310,7416,651

14,72310,167

247,667

61,270186,397

17,108

111,31167,96067,05043,3523,403

38,33834,5173,438

383

34,08313,0715,805

21,01314,475

39,6607,167

1983

200,257

36638163..619

31,13430,09017..8385,,9326,3201,,044

58,0236,169

51,8549,8609,,8574,997

41,9941,704

68,27955,6185,7975,1051,758

18,32713,5784,748

13,93410,561

261,312

53,804207,508

18,186

107,39259,93958,94047,4532,,4H

41,01337.,738

2,956319

42,,02816,9377,,278

25..09116..291

45,3137,380



Trade—Continuedof dollars]


1982

I

55,287

10,63944,648

8,7438,5685,0271,7631,778175

16,9381,96414,9743,5343,5321,75111,440430

19,12115,6601,7011,184576

4,4382,5671,871

3,7282,318

62,666

16,25446,412

3,782

29,50318,11717,85811,386757

9,8268,80594180

8,2982,9191,3445,3793,710

9,5981,659

II

56,688

10,15946,529

8,7168,5054,9431,6491,913211

16,7921,55315,2383,5493,5471,62511,689359

19,71016,3341,3211,341715

5,1563,3221,834

3,9952,320

61,437

13,06848,369

4,381

25,64014,45014,26611,190649

10,2989,208900190

9,5854,0231,7765,5613,865

9,3532,180

III

50,101

7,49442,607

6,7616,2343,5491,1491,536527

14,9701,14813,8223,1583,1581,56310,664

581

17,95615,265906

1,213573

4,0792,6391,440

3,4992,836

63,542

16,64946,893

4,381

28,78018,12817,92810,652983

9,5598,78972941

8,3293,1711,3485,1583,432

10,8661,626

IV

49,122

8,93840,184

7,4007,1473,6501,6901,806253

14,9211,69213,2293,0533,0521,52510,176629

16,88714,346

9551,201385

3,7202,2131,507

3,5002,694

60,022

15,29944,723

4,563

27,38717,26416,99710,1231,013

8,6557,71586871

7,8722,9581,3364,9143,469

9,8421,703

1983

I

49,325

9,45639,869

8,0127,8474,7661,6541,428166

14,2601,50412,7562,5872,5861,58310,170667

17,14213,4311,8701,306534

4,2093,0381,171

3,4372,265

58,538

11,14147,397

4,422

23,87713,22813,00010,649585

9,0898,14891328

9,5083,7261,7385,7813,971

10,1131,530

II

50,337

8,57241,765

7,2357,0304,0781,2971,655204

14,8121,44313,3702,6742,6731,29810,696404

17,41913,8671,8301,319403

4,9763,8141,162

3,5562,338

64,158

12,59251,566

4,640

26,23514,03913,81312,196725

9,9269,154652120

10,8744,6622,1546,2124,096

10,6351,849

III

48,312

8,28240,031

7,3116,8414,0111,2321,598470

14,2781,35812,9212,3242,3231,05910,597

331

16,37713,918860

1,177422

4,1212,9341,188

3,4582,766

66,978

15,73651,242

4,353

29,09516,88016,62012,215585

10,3889,67666942

9,3103,4811,2485,8293,650

11,9221,911

IV

52,283

10,32941,954

8,5768,3724,9831,7501,640204

14,6731,86512,8082,2762,2751,05810,532302

17,34114,4021,2381,302399

5,0203,7931,227

3,4823,192

71,638

14,33457,304

4,771

28,18515,79215,50712,394

516

11,61010,759722129

12,3375,0682,1377,2694,574

12,6442,090

1984

IP

54,085

10,85643,229

8,7958,6354,8601,9031,872160

14,9962,10512,8901,9521,943986

10,938363

17,58314,880852

1,466384

5,6404,3591,281

3,4463,625

79,393

14,34965,044

5,168

30,91016,03015,75814,881700

13,97612,8421,082

52

13,5935,6632,4817,9305,034

13,8651,881

Seasonally adjusted

1982

I

55,482

10,01745,465

8,5118,2264,8401,5121,873285

17,1481,68415,4643,8973,8951,62611,566430

19,33615,8971,6611,202577

4,3892,5211,868

3,7412,357

62,546

15,82846,718

3,789

28,87717,42517,20211,452757

10,0379,01694180

8,0112,8801,2975,1313,474

10,1221,710

II

55,118

10,42344,695

8,9738,6935,0961,7181,879279

16,1741,62914,5453,2963,2941,59811,249359

19,15315,9431,1981,304708

4,7112,8761,835

3,8362,272

60,921

13,33447,587

4,274

25,70814,79114,61310,917649

10,1339,042900190

9,0003,6971,5165,3033,621

9,7042,103

III

52,079

8,40843,671

7,1216,8023,4761,6591,667319

15,3581,49313,8653,1533,1531,68610,712

581

18,45915,5061,1451,234574

4,5873,1101,477

3,6002,954

64,442

16,79847,644

4,638

29,23118,46818,24510,762983

9,5898,82072941

9,2423,6721,7185,5703,825

10,1151,626

IV

48,519

8,38240,137

7,0166,7333,7571,3621,614283

14,9401,55113,3892,9482,9471,55510,441629

16,72714,260878

1,198390

3,7062,2341,472

3,5462,585

59,758

15,31044,448

4,406

27,49617,27616,99010,2201,013

8,5797,63986871

7,8302,8221,2735,0083,555

9,7191,729

1983

I

49,246

8,82340,423

7,7127,4414,5291,4071,505272

14,2961,27713,0202,7562,7551,44710,264667

17,32413,6231,8441,323535

4,1592,9911,167

3,4502,304

58,523

10,77047,753

4,462

23,20012,54612,35810,654585

9,3408,39991328

9,2703,7481,7255,5223,726

10,6721,578

II

48,745

8,70640,039

7,4077,1354,1841,3311,620272

14,3001,47312,8272,5372,5361,29110,290404

16,91613,5661,6661,288395

4,3993,2371,162

3,4102,312

63,615

12,82750,788

4,524

26,32014,39214,16511,927725

9,7488,976652120

10,2074,2701,8455,9373,836

11,0501,768

III

50,437

9,30641,131

7,7807,5084,0001,7801,728272

14,6881,71312,9752,3462,3461,16410,629

331

16,85714,1121,1251,197423

4,7123,4941,218

3,5502,851

67,938

15,92252,016

4,604

29,56517,24216,95312,323585

10,4519,73966942

10,3034,0391,6276,2644,067

11,1071,907

IV

51,829

9,80442,026

8,2348,0065,1251,4141,467228

14,7381,70613,0322,2212,2201,09510,811302

17,18214,3171,1621,298405

5,0573,8571,200

3,5243,093

71,236

14,28456,952

4,596

28,30715,75915,464.12,548

516

11,47410,623722129

12,2484,8802,0817,3684,662

12,4832,127

1984

IP

54,164

10,27743,887

8,6248,3644,6521,6512,060260

14,9581,79813,1602,0982,089900

11,061363

17,81915,122829

1,482385

5,6154,3341,281

3,4663,682

79,805

13,85265,953

5,236

30,25615,29315,04914,963700

14,38213,2481,082

52

13,3315,7072,4557,6244,747

14,6641,936

Line

1

23

456789

1011121314151617

1819202122

232425

2627

28

2930

31

3233343536

37383940

4142434445

4647



Line

D

1

234

5

6789

10

11

12

13141516

17181920

21222324

25262728

29

30313233343536373839404142

434445

46

4748

495051

52535455

56

57

5859

Merchandise trade, by end-use category, Census basis,1 includingmilitary grant shipments:

Merchandise exports, Census basis, including military grant ship-ments.


Excluding military grant shipments


Agricultural ,Grains and preparations

WheatSoybeansOther agricultural goods feeds and beverages

Nonagricultural (fish distilled beverages etc )

Industrial supplies and materials

AgriculturalRaw cotton, including lintersTobacco, unmanufactured ,Other agricultural industrial supplies (hides, tallow, etc.)

NonagriculturalFuels and lubricants 9

Coal and related fuelsPetroleum and products

Paper and paper base stocksTextile supplies and materialsChemicals, excluding medicinalsOther nonmetals (minerals, wood, rubber, tires, etc.)

Steel making materialsIron and steel productsOther metals, primary and advanced, including advanced steel-

Precious metals (gold, silver, platinum)

Capital goods, except automotive

Machinery, except consumer-typeElectrical and electronic, including parts and attachments

Generators, transformers and accessoriesBroadcasting and communications equipmentTelephonic and other electrical apparatus

Nonelectrical, including parts and attachmentsConstruction machinery and nonfarm tractors.. .Textile and other specialized industry machineryOther industrial machinery, n.e.cAgricultural machinery and farm tractorsBusiness and office machines, computers, etc

Electronic computers and partsScientific, professional, and service industry equipment

Civilian aircraft, engines, partsCivilian aircraft, complete all types

Other transportation equipment

Automotive vehicles, parts and engines

To Canada8

To all other areas

Passenger cars, new and usedTrucks, buses, and special vehiclesBodies, engines, parts and accessories, n.e.c

Consumer goods (nonfood), except automotiveConsumer durables, manufacturedConsumer nondurables, manufacturedUnmanufactured consumer goods (gem stones)

Special category (military-type goods)

Exports, n.e.c., and reexports

Domestic (low-value, miscellaneous)Foreign (reexports)

1973

71,453

1786153,59253,076

15,089

14,7999,7274,1982,7602312

290

19630

2879940681

1,258

167511,9611,057

610

146313594,5033,367

64513942,058

156

21663

171693,472

65117811040

13,6962,9401,2715163

663235217171,308

40682315

426

6416

47681647

1824888

3,703

47142,0552324

335

1583

2,358

1,2651093

1974

98,641

2226076,38275,782

18,489

18,22211,5684,6313,5373,116

268

29802

37751,353

8321,590

260283,6272,493

874

25971,8787,4454,141

92424802,935

288

30398

242084,944

92624521,565

19,26544851,7847 172

994306121981,769

55993366

590

8352

58782474

233413944624

628428913069

323

2134

3,182

18191363

1975

108,112

2209586,01685,555

19,086

18,76412,5825,3502,8653,317

322

29,651

31161,001

8521,263

265364,7533,351

993

25001,6047,3924,208

84620763,157

682

36269

295675,3081,14423451820

24,25866501,92392881430296022282,007

59013169

801

10240

66333606

288421995156

64762,8403375'262

2996

3,394

19041490

1976

115,419

2327492,14591,955

19,712

19,30712,1994,0823,3153793

405

31864

36831,058

9221,704

2818146842,9971084

272019048,0944,965

72520053,084

450

38678

316576,5901,49730712022

25,06862361,90797481617327425882,285

61753204

846

11 372

76373735

326620686037

791635734010

334

2600

3276

16021 674

1977

121,293

2421997,07497,012

19,591

19,00610,2422,9294,3934,371

585

34169

46361,5381,0942,004

295344,7632,7411335

26821,8708,6425,184

48218754,0341 169

39312

330747,2381,63733162285

25,83656331,99799401587405032642,630

56792739

559

12286

84453841

362720416618

881737634688

366

3208

3909

17022207

1978

143,766

29,796113,970113,884

25,032

24,03413,4694,6005,2085,357

999

38,800

53271,7541,3582,215

334744,5022,1321,585

26282,197

10,3676,071

84520294,8331356

45948

378758,1101,42237082,981

29,7646,4212,425

10,46217555,24141993,460

72803616

793

14621

93165304

369227708160

1030846035201

504

4489

4567

20302537

1979

182,024

35,212146,812146,647

29,617

28,43616,6905,5835,7016,045

1,181

57,046

6,2862,2131,1832,891

50,7596,6763,5071,970

3,3643,262

14,4988,300

13472,487

10,8255,621

57,510

459999,7401,5084,6373,595

36,2597,8153,081

12,57716436,77354604,370

10,5316177

980

16698

101736526

472033308,648

124855,4006382

702

3017

5,651

24263225

1980

220,782

41,759179,023178,867

35,313

34,22620,7946,6585,8807,552

1,087

70,211

7,0002,8801,3342,786

63,2118,7754,7802,847

4,9733,746

17,7569,337

1,4963,493

13,6345,989

72,600

57,05011,8171,8165,6774,324

45,2349,9583,837

15,3061,9269,0767,5405,131

14,07682561,474

16168

8,9167252

401030529,107

162497,8907,627

732

3264

6,977

2,8634115

1981

233,739

43,814189,926189,864

37,888

36,67322,0608,1546,1868,427

1,215

67,300

6,6302,2771,4582,895

60,67010,7256,0193,769

4,9683,764

17,9629,042

9003,3909,9203,760

80,173

64,52412,9202,1245,7405,056

51,60511,6144,187

17,2432,232

10,5628,8375,767

13,46786132,182

18,362

10,1378224

40053310

11,047

158686,9768336

556

4178

9,971

51934778

1982

212,275

37,012175,263175,182

31,352

30,23517,0876,9216,2186,930

1,117

61,483

6,3571,9801,5472,830

55,12613,0086,0806,217

4,3412,800

16,9608,206

7792,4596,5731,516

72,678

60,78112,9392,0495,9674,923

47,84210,3063,704

15,6661,795

11,0089,3245,364

9,6834,8252,214

15,914

9,2636,651

2,9302468

10,517

143075,9507,971

386

6540

10,001

4,8985103

L983

200,538

36,456164,081164,029

30,940

29,90817,7766,5575,9146,218

1,032

56,461

6,1691,8331,4622,874

50,2929,8574,1234,997

4,2562,335

16,4048,153

8341,8286,6252,060

67,248

54,80913,1781,6576,6254,896

41,6316,4513,104

13,1501,468

12,53811,0294,921

10,6955,6911,744

17,044

12,2954,748

4,2511,980

10,813

134445,3047,672

467

5841

9,561

4,9924568





1982

I

55,314

10,55744,75644,738

8,648

8,4854,9762,0881,7621,747

162

16,333

1,96457355852

14,3693,5051,5031,742

1,115769

4,3732,103

147719

1,638269

18,764

15,3643,092507

1,3601,22512,2722,729934

4,158521

2,5882,1501,342

2,8371,678563

• 4,139

2,2681,871

653695

2,791

3,5981,4991,999100

1,382

2,450

1,2261,224

II

57,028

10,10746,92046,904

8,653

8,4534,9281,9681,6451,880

200

16,254

1,553521352680

14,7013,4271,8091,521

1,180765

4,5042,208

270672

1,676310

19,440

16,1113,455557

1,6141,28412,6562,782963

4,036541

2,8602,4151,474

2,6251,309705

4,697

2,8641,834

991715

2,991

3,8781,6742,099105

1,585

2,520

1,2741,246

III

50,240

7,43242,80942,783

6,688

6,1733,5381,6121,1171,518

515

14,557

1,148350228570

13,4093,0631,4431,468

1,067619

4,2431,984

190576

1,667493

17,770

15,1043,329529

1,5621,23711,7752,642876

3,862399

2,6902,2821,306

2,099900567

3,638

2,1981,440

630493

2,515

3,4231,3971,94186

1,579

2,586

1,1501,436

IV

49,694

8,91540,77840,757

7,364

7,1243,6461,2531,6941,785

240

14,339

1,692352612728

12,6473,0141,3261,486

'978647

3,8401,910

172493

1,591445

16,704

14,2023,062455

1,4311,17611,1402,153931

3,611335

2,8702,4761,242

2,123938380

3,440

1,9331,507

656565

2,219

3,4081,3801,932

95

1,993

2,445

1,2481,197

1983

I

50,076

9,41940,65740,641

7,973

7,8104,7561,9621,6431,412

164

13,836

1,504431302770

12,3322,586849

1,583

993591

3,9641,902

132459

1,705637

16,981

13,3133,061402

1,4961,16310,2531,672798

3,324303

2,8782,5421,278

3,1381,849529

4,006

2,8351,171

961438

2,608

3,3581,3351,903120

1,607

2,315

1,1701,145

II

50,504

8,54041,96441,951

7,200

6,9984,0681,5251,3061,624

201

14,336

1,443520297626

12,8932,6731,0731,298

1,104609

4,0192,098

237470

1,683523

17,084

13,6123,251449

1,6181,18410,3621,601787

3,260417

3,0832,7231,214

3,0771,791394

4,594

3,4321,162

1,259522

2,814

3,4071,3791,906122

1,508

2,375

1,2871,088

III

48,380

8,25940,12140,118

7,286

6,8194,0261,4781,2231,569

467

13,939

1,358400276682

12,5822,3231,1441,059

1,062557

4,2302,093

228444

1,646477

16,110

13,7183,379400

1,7281,25010,3391,656721

3,255403

3,1042,7361,200

1,970824422

3,779

2,5921,188

878512

2,390

3,3241,3101,906108

1,645

2,296

1,2151,081

IV

51,578

10,23841,34041,320

8,480

8,2814,9261,5921,7411,614

200

14,350

1,865482587796

12,4852,2751,0571,058

1,097577

4,1912,060

237456

1,592423

17,073

14,1653,487405

1,7841,29810,6781,523798

3,311345

3,4723,0281,229

2,5091,228399

4,664

3,4371,227

1,154509

3,001

3,3541,2801,957117

1,082

2,575

1,3201,254

1984

I"

53,787

10,83942,94842,942

8,775

8,6184,8731,5731,8971,848

157

14,655

2,105832369904

12,5491,943791986

1,096609

4,4672,123

205454

1,654451

17,315

14,6453,682429

1,8641,38910,9631,562846

3,363363

3,5563,1471,272

2,293852377

5,278

3,9971,281

1,309589

3,380

3,3341,3051,913116

1,102

3,327

1,9061,420

Seasonally adjusted

1982

I

55,500

9,93545,56545,547

8,416

8,1434,7892,0311,5121,842

273

16,542

1,684575380729

14,8593,8681,9921,616

1,159782

4,3782,116

161744

1,651269

18,979

15,6003,189532

1,4061,25112,4112,846964

4,162519

2,5812,1451,340

2,8151,638564

4,090

2,2221,868

661702

2,727

3,6101,5321,98494

1,382

2,481

1,2591,222

II

55,472

10,37145,10145,085

8,909

8,6415,0812,1521,7141,846

268

15,637

1,629503400726

14,0083,1741,5831,494

1,096746

4,3922,084

237646

1,632310

18,883

15,7203,335521

1,5841,23012,3852,692942

3,978472

2,8602,4181,441

2,4651,187698

4,253

2,4181,835

817665

2,771

3,7191,5662,052100

1,585

2,486

1,2411,244

III

52,207

8,34643,86143,835

7,047

6,7403,4651,4191,6261,649

307

14,946

1,493485334674

13,4523,0581,3151,591

1,073632

4,1922,029

196585

1,688493

18,272

15,3453,369550

1,5581,26211,9762,608915

3,936430

2,7492,3251,339

2,3591,139568

4,146

2,6691,477

836511

2,799

3,5241,4501,97896

1,579

2,693

1,1591,534

IV

49,096

8,36040,73640,715

6,980

6,7103,7521,3191,3651,592

270

14,358

1,551418433700

12,8072,9091,1901,516

1,012640

3,9981,976

185484

1,602445

16,544

14,1163,046446

1,4191,18011,0702,160883

3,590375

2,8182,4361,244

2,043861385

3,426

1,9541,472

616590

2,220

3,4531,4011,95696

1,993

2,342

1,2391,103

1983

I

49,991

8,78641,20441,189

7,673

7,4044,5191,8841,3961,489

270

13,872

1,277298325654

12,5962,7551,1531,447

1,028604

3,9591,917

142475

1,715637

17,163

13,5053,160424

1,5501,18610,3451,739825

3,335299

2,8732,5361,274

3,1291,823530

3,956

2,7881,167

971437

2,547

3,3711,3661,892113

1,607

2,349

1,1971,152

II

48,923

8,67440,24940,236

7,373

7,1044,1751,6681,3401,589

269

13,823

1,473478330666

12,3502,536943

1,291

1,026592

3,9141,980

205453

1,644523

16,581

13,3123,147419

1,5901,13810,1651,550772

3,217358

3,0792,7221,189

2,8831,628386

4,017

2,8551,162

998451

2,567

3,2611,2861,859116

1,508

2,361

1,2571,104

III

50,499

9,28441,21541,212

7,755

7,4864,0151,3121,7721,699

269

14,350

1,713519397797

12,6372,3461,0621,164

1,065568

4,1782,133

232451

1,665477

16,590

13,9123,399414

1,7171,26810,5131,628752

3,307427

3,1722,7891,228

2,'2551,089423

4,370

3,1521,218

1,153537

2,680

3,4161,3561,939120

1,645

2,374

1,2261,149

IV

51,125

9,71241,41241,393

8,139

7,9155,0681,6931,4061,441

224

14,416

1,706539410758

12,7092,220965

1,095

1,136571

4,3542,123

255449

1,601423

16,914

14,0813,472400

1,7681,30410,6081,535755

3,291384

3,4132,9831,230

2,4281,152405

4,701

3,5011,200

1,128554

3,019

3,3961,2961,983118

1,082

2,477

1,3131,164

1984

IP

53,855

10,26043,59543,588

8,604

8,3474,6661,5091,6452,036

257

14,617

1,798613395790

12,8192,0891,023900

1,136622

4,4662,148

222471

1,665451

17,551

14,8863,804453

1,9341,41611,0831,648875

3,379362

3,5513,1391,268

2,287828378

5,253

3,9721,281

1,342600

3,311

3,3551,3381,906111

1,102

3,372

1,9441,429

Line

234

5

678910

11

12

13141516

17181920

21222324

25262728

29

30313233343536373839404142

434445

46

4748

495051

52535455

56

57

5859



Line

60

616263646566676869

70

71727374

7576777879808182838485

86

87888990

91929394959697

98

99100

101102

103

104

105106107108109

110

Merchandise imports, Census basis 10

Foods, feeds, and beveragesCoffee, cocoa, and sugar

Green coffeeCane sugar

Other foods, feeds, and beveragesMeat products and poultryFish and shellfishVegetables, fruits, nuts and preparationsWhiskey and other alcoholic beverages

Industrial supplies and materials 10

Fuels and lubricants 9il°Petroleum and products 10

Paper and paper base stocksMaterials associated with nondurable goods and farm output,

n.e.s.Textile supplies and materialsTobacco, unmanufacturedChemicals, excluding medicinalOther (hides, copra, materials for making photos, drugs, dyes) ...

Building materials, except metalsMaterials associated with durable goods output, n.e.s

Steelmaking materialsIron and steel productsOther metals, primary and advanced, including advanced steel-

Precious metals (gold, silver, platinum)Nonmetals (oils, gums, resins, minerals, rubber, tires, etc.)

Capital goods except automotive

Machinery, except consumer-typeElectrical and electronic, and parts and attachmentsNonelectrical, and parts and attachments

Construction, textile and other specialized industry machin-ery and nonfarm tractors.

Other industrial machinery n e sAgricultural machinery and farm tractorsBusiness and office machines, computers, etcScientific, professional and service industry equipment

Transportation equipment, except automotiveCivilian aircraft, engines, parts

Civilian aircraft, complete, all types

Automotive vehicles, parts, and engines

From CanadaFrom all other areas

Passenger cars, new and usedTrucks, buses, and special vehicles

Bodies, engines, parts and accessories n e s

Consumer goods (nonfood), except automotive

Consumer durables, manufacturedElectric household appliances, radio, television

Consumer nondurables, manufacturedTextile products, except rugs

Unmanufactured consumer goods (gems, nursery stock)

Imports, n.e.s. (low value, U.S: goods returned, military aircraft,movies, exhibits).

1973

70,473

9,11227071570

92564051,6961384

9541000

27,137

8,83082942,0904,161

1,594191

1,3461,02924729,584

9703,1964,050

9641,368

7902

7,26823534,9151,086

155266787873263459581

11337

59615376

65261282

3529

12890

7 110230447862132

994

2,095

1974

102,576

10,56840691505224764991,3811491

9861029

53,049

27,342264632,9695,670

1,597254

2,4981,3201993

15,07513565,5596,1241,5252,035

9734

9,05530965,9591,178

2075850977879679636

0 97

12358

56036755

73071 452

3598

14 380

8256216451662288

958

2,436

1975

98,509

9,64237471,56118655,8951,1741344

9721033

50,645

28,480270442,7164,953

1,178343

2,2291,2031,556

12,94017444,6064,8261,1281,764

10143

9,50528996,6051,261

2423998

1,01490963854881

12065

58186247

7 1351302

3628

13 211

6805164554792490

927

2,802

1976

123,478

11,54641442,6321 1547,4021,48018421,1621 174

62,925

36,986345983,3406,093

1,574392

2,5791,5482396

14,11018724,3805,7871,0012,071

12279

11,81244307,3821,321

258210561,2871,136

466406

94

16768

80118758

89472062

5760

17165

84052211748835331272

2,795

1977

150,390

13,98154683,91010768,5131,31620411,4901287

78,333

47,598449613,6046,741

1,584322

3,0681,7673312

17,07818526,0016,7291,3272,495

13954

13,28043658,9161,670

31121 1741,4971,464

674592265

19388

926710121

106512634

6103

21796

117603929828539861751

2,938

1978

174,757

15,39751183,728

72310,2791,90821981,6811744

82,380

45,57342197

q QQC

8,164

1,951399

3,7652,0494388

20,25818487,1258,5221,8152,763

19643

18,4555861

12,5942,865

427413672,1431,9461,188

982231

25095

1052214572

136743709

7712

28943

153264485

1125153562367

3,298

1979

209,458

17,36653493,820

97412,0172,5902,6251,8742014

106,348

63,93059,8884,8019,253

1,851439

4,5312,4324,840

23,52522027,304

10,6503,3753,370

25038

23,0467764

15,2823,056

55991,9822,4012,2431,9921518

517

26488

972516,763

14,8423759

7888

30566

162334019

11,99656652337

3,651

1980

244,871

18,1276,2553,8721988

11,8722,4042,5991,9462,233

129,211

83,78878,7955,269

10,175

2,040455

5,1872,4923,734

26,24521616,720

13,7955,7163,569

30463

27,0157945

19,0703,696

65451,8234,4512,5553,4482984

964

27,978

878619,193

16,8194067

7092

34445

184614,321

13,0666,5082,918

4,647

1981

261,305

18,1135,2302,6222142

12,8822,0512,9502,6252,399

131,423

82,05877,1075,603

11,863

2,555633

5,9662,7093,716

28,1822,5889,131

12,5144,1343,948

36624

32,6329,452

23,1805,555

77481,6895,2042,9843,9923,7491,339

30,815

10,62720,189

17,7684844

8203

38664

207665,706

14,9287,7742,969

5,667

1982

243,941

17,1183,9172,730

86313,2012,1253,1322,4482,513

108,202

66,36560,8355,271

11,361

2,269740

5,7112,6413,176

22,0291,3697,269

10,0733,4863,317

38153

34,52910,54823,9825,845

74241,2786,1653,2703,6243,4321,132

34,304

13,29221,013

20,2805212

8,812

39658

20,8685,575

16,1648,4092,626

6,505

1983

258,048

18,1863,9862,15901,047

14,1992,0843,5862,5602,626

105,765

58,72853,5915,580

12,368

2,603637

6,7282,9014,586

24,0021,2486,752

12,3374,9513,666

40 854?

37,70012,91524,7853,694

6,825 •1,4268,9063,9343,1542,942

928

42,033

16,93725,096

23,5745916

12,543

44,934

22,6906,769

19,1159,8603,130

6,275





1982

I

61,694

3,759

946626210

2,813408586679494

28,760

17,77916,2841,3482,942

615230

1,392705589

6,102391

2,1382,719887855

9,742

8,7612,3706,3911,932

1,944367

1,372776982925363

8,347

2,9685,379

5,0541,4291,865

9,578

5,2111,3353,6781,902688

1,508

II

60,497

4,380

876636165

3,504575815735629

24,933

14,06712,8971,3743,028

606. 2401,529653834

5,630386

1,9792,388630878

10,176

9,2112,6416,5701,745

2,097376

1,532820965900311

9,656

4,0955,561

5,6411,5252,490

9,352

4,9111,3173,8332,009608

2,000

III

62,808

4,408

1,016716230

3,392644855520653

27,993

17,76616,4711,2662,860

555174

1,479652936

5,165333

1,6692,366808797

9,602

8,8262,9345,8921,295

1,847271

1,631848777736184

8,379

3,2215,158

4,7801,1742,426

10,882

5,4281,5164,8222,558632

1,544

IV

58,942

4,571

1,078751259

3,493498876514737

26,516

16,75415,1831,2832,531

49395

1,311631818

5,131259

1,4842,6001,160787

8,632

7,7322,6035,128873

1,536263

1,630826901872274

7,922

3,0084,914

4,8051,0842,032

9,847

5,3181,4073,8311,940697

1,453

1983

I

58,053

4,422

1,021666191

3,401533783697579

23,501

12,96911,1101,2273,198

577240

1,671710957

5,150189

1,4062,6901,169866

9,074

8,1482,6955,453852

1,607306

1,763924926898325

9,513

3,7265,786

5,7141,2502,549

10,113

5,0361,2514,3502,219727

1,430

II

63,504

4,640

956586266

3,684565864786630

25,842

13,73612,5151,3993,256

651176

1,692737

1,1636,289313

1,5453,5251,523906

9,855

9,1163,0546,062868

1,650380

2,194971739652154

10,874

4,6626,212

6,2501,5393,085

10,635

5,2651,5204,4502,318919

1,658

III

66,379

4,353

936636257

3,417551954514626

28,734

16,55915,6741,3823,082

676109

1,607689

1,3076,404345

1,7713,4051,523882

10,402

9,6763,2546,422937

1,906349

2,275956726684230

9,310

3,4815,829

4,8981,3233,088

11,922

5,7791,7945,3442,829799

1,659

IV

70,112

4,771

1,074702333

3,697435985562790

27,687

15,46414,2911,5723,332

699112

1,757765

1,1596,160"401

2,0302,717736

1,012

11,523

10,7593,9126,8471,037

1,662392

2,6731,082764708220

12,337

5,0687,269

6,7111,8043,822

12,266

6,6102,2044,9712,494684

1,528

1984

I"

79,346

5,168

1,234744364

3,934485876863612

30,596

15,66014,2511,6564,106

907187

2,029983

1,205s 7,968

3662,4353,9501,4311,217

13,976

12,8424,2888,5541,315

2,261447

3,2971,2351,1341,082492

13,593

5,6637,930

7,5151,7784,300

14,243

6,9992,0246,1373,2921,107

1,771

Seasonally adjusted

1982

I

61,610

3,766

908581245

2,858408650578570

28,170

17,12215,8581,3362,827

609182

1,368668629

6,255501

2,2122,688887854

9,954

8,9722,5026,4701,933

1,976357

1,426778982925363

8,060

2,9295,131

4,7711,4291,860

10,102

5,5461,4893,8632,033692

1,559

II

59,988

4,273

908675168

3,365575806601638

25,006

14,41413,1631,3292,929

586194

1,498651784

5,551341

2,0262,310630874

10,010

9,0462,6316,4151,743

2,045333

1,490804965900311

9,072

3,7685,303

5,1381,5252,409

9,703

5,0801,3544,0102,082612

1,923

III

63,685

4,665

1,089774235

3,576644831645669

28,421

18,08316,6201,3422,961

556206

1,517681890

5,146290

1,6362,421808800

9,633

8,8562,8935,9631,295

1,839305

1,666857777736184

9,293

3,7235,570

5,5431,1742,577

10,130

5,2231,4044,2742,210633

1,544

IV

58,658

4,413

1,011700215

3,402498845623635

26,605

16,74615,1941,2642,644

518156

1,328642874

5,077238

1,3962,6541,160790

8,556

7,6562,5215,134874

1,564283

1,583831901872274

7,880

2,8725,008

4,8281,0841,967

9,724

5,0191,3294,0172,084688

1,479

1983

I

58,078

4,462

980624225

3,482533860604667

22,864

12,32710,7391,2223,070

568186

1,643672

1,0105,236240

1,4722,6591,169864

9,325

8,3992,8525,548852

1,636294

1,843922926898325

9,275

3,7485,528

5,4561,2502,569

10,672

5,3841,4054,5552,364733

1,479

II

62,961

4,524

1,003626277

3,521565854636640

25,926

14,08812,7501,3533,166

626141

1,665734

1,0906,229293

1,6063,4291,523901

9,677

8,9383,0515,888866

1,607332

2,132951739652154

10,207

4,2705,937

5,6811,5392,987

11,050

5,4761,5824,6522,402922

1,576

III

67,309

4,604

1,012687270

3,592551923639640

29,175

16,89215,8601,4623,162

674129

1,639720

1,2406,419321

1,7523,4611,523884

10,465

9,7393,2256,514937

1,891386

2,331969726684230

10,303

4,0396,264

5,6931,3233,286

11,107

5,5781,6794,7282,430802

1,655

IV

69,700

4,596

991654274

3,604435949681680

27,799

15,42114,2411,5433,470

734180

1,780774

1,2476,119393

1,9222,788736

1,016

11,387

10,6233,7876,8361,038

1,691414

2,6011,092764708220

12,248

4,8807,368

6,7441,8043,701

12,105

6,2522,1035,1802,664674

1,565

1984

I"

79,786

5,236

1,219700423

4,017485960755703

29,969

14,95113,7541,6593,976

899145

1,997935

1,2748,109450

2,5373,9081,4311,215

14,382

13,2484,5208,7281,317

2,306435

3,4401,2311,1341,082492

13,331

5,7077,624

7,2021,7784,350

15,043

7,4772,2486,4513,5201,115

1,825

Line

60

61

6263646566676869

70

71727374

7576777879808182838485

86

87888990

91929394959697

98

99100

101102103

104

105106107108109

110


Table 4.—Selected U.S. Government Transactions[Millions of dollars]

Line

Al

234

56789

101112

13141516

171819202122

2324252627282930

31323334353637383940

41

42

43

Bl23456

7

Cl

23

45

6789

10

11

12131415

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

By category

Grants, net (table 1, line 30 with sign reversed)Financing military purchase 1

Other grants •

Loans and other long-term assets (table 1 line 40 with sign reversed)Capital subscriptions and contributions to international financial institutions, excluding IMF .Credits 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 42, with sign reversed)Foreign currency holdings (excluding administrative cash holdings) net

Receipts from —Sales of agricultural commoditiesInterestRepayments of principal

Other sourcesLess disbursements for —

Grants and credits in the recipient's currency .Other grants and creditsOther U S Government expenditures

A t f° ' Tt 1 t t 1 2 'Other short-term assets (including changes in administrative cash holdings), net

By program

Capital subscriptions and contributions to international financial institutions, excluding IMFUnder farm product disposal programs.Under Foreign Assistance Act and related programsUnder Export-Import Bank ActOther assistance programsOther foreign currency assets acquired (lines A13 A14 and A16)Less foreign currencies used by U.S. Government other than for grants or credits (line A19)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 merchandiseExpenditures on U.S. services 4

Financing of military sales contracts by U.S. Government 5 (line C6)By long-term creditsBy short-term credits *By grants 1 .

U.S. Government grants and credits to repay prior U S Government credits x 4

U.S. Government long- and short-term credits to repay prior U.S. private credits 6 ,Increase 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 1

and (b) financing repayments of private credits.Less foreign currencies used by U.S. Government other than for grants or credits (line A19)....

Estimated dollar payments to foreign countries and international financial institutions ,

Repayments on U.S. Government long-term assets, total (table 1, line 41)Receipts of principal on U.S. Government credits . . . . .

Under farm product disposal programsUnder Foreign Assistance Act and related programsUnder Export-Import Bank Act ... ...Other assistance programs

Receipts on other long-term assets... . .... .

U.S. Government liabilities other than securities, total, net increase ( + ) (table 1, line 53)

Associated with military sales contracts 2

U.S. Government cash receipts from foreign governments (including principal repaymentson credits financing military sales contracts), net of refunds.1

Less U S Government receipts from principal repaymentsLess U.S. Treasury securities issued in connection with prepayments for military purchases

in the United States.Plus financing of military sales contracts by U S Government 5 (line A34)

By long-term credits . . .

By grants *Less transfers of goods and services (including transfers financed by grants for military

purchases, and by credits)12 (table 1, line 3).

Associated with U.S. Government grants and transactions increasing Government assets(including changes in retained accounts) 7 (line A40).

Associated with other liabilitiesSales of nuclear materials by Department of Energy .Other sales and miscellaneous operationsGerman Government 10-year loan to U S Government

1981

3,954

4,452317

4,134

96671,1428,006

89430

-16559

6870

122

17

255

306208

102

1,1421,66869913,061

905209306285

9,998592319651,7441448

296534370

1

232

306

3,956

4,3953962

28712791463

933

433

—300

968,910

588160

17441448

29610,003

1

204-134

30100

1982

5,848

5,423755

4,668

0,0631,0077,4431,151

462

362-68

2949

118

13

104

26223

406

1,0071,4298,7662,2761594

180262858

10,37451721,8862,7882,216

573425449

8

93

262

5,474

4,2823,807

3211,3361,613

538

475

382

70111,970

6191,230

27882,216

57312,209

8

327-232

96

1983

16,043

6,060934

5,126

9,9311,3697,999

142422

52-76

356

111

21

254

24042

170

1,3691,4199,4692,541

726189240571

10,39753381,7472,7852119

666272557

4

65

240

5,645

4,9694,565

3221,2841,9251034

404

199

45610,169

770-1,009

27852,119

66612,737

4

261-271

10

I

3,393

1,481419

1,062

1,849213

1,5126

118

645

61346

3

4

5831

28

213234

1,9626631596258

159

2,3051,207

493538263

27510819(*)

58

1,088

1,01189966

306397130

112

-89

1163,755

1631,122

538263

2752,892

(*)

205-76129

198

II

3,825

1,10126

1,075

2,524285

2,07944

116

200-15

51429

4

1

6614

202

285444

2,0536161234766

323

2,8231,451

526629612

17109196

39 24

66

1,002

1,02788763

362399

64

140

428

2652,577

157-511

629612

173,295

3

16020

141

2

III

4,616

1,08822

1,066

3,453257

1,9971,072

127

76-31

41119

4

3

6512

95

257533

1,979477

1,1803465

221

2,6261,331

518602586

16130136

69 30

65

1,990

94983749

300424

64

112

-177

1111,952

129-712

602586

163,027

6

-294-184— 110

IV

4,014

1,753288

1,465

2,238252

1,85530

102

22-27

151125

2

24

7333

82

252218

2,7715211333773

155

2,6201,184

3501,020

755

2657999-1

9 38

73

1,393

1,2951,185

144369393279

111

221

2103,686

1701,330

1,020755

2652,995

-1

1111(*)

I

3,429

97471

903

2,378415

1,82415

124

7724

31518

7

18(*)509

110

415286

1,8375471314150

223

2,1991,102

431474431

4351

2125

9 26

50

1,230

1,2241,127

35300447344

98

-533

4391,986

136-1,034

474431

433,798

r

-9983

-16

198

II

3,668

1,210113

1,097

2,422225

2,06628

102

37-20

(*)1426

2

1

6015

71

225376

2,1735432084160

162

2,4571,247

390689617

7212090-1

9 18

60

1,211

1,2101,107

65358407277

103

434

4532,693

158-313

689617

723,084

-1

-195031

3

III

4,194

1,478375

1,103

2,756349

2,23968

100

-40-25

(*)8

20

8

23

56-16

2

349557

2,1328672053556

105

3,0021,597

494758478

28031

196(*)

9 18

56

1,192

1,4871,385

59302712312

102

137

2693,463

294629

758478

2803,028

(*)

132-114-18

IV

4,752

2,398375

2,024

2,376380

1,8703195

-22-7

(*)2048

5

41

74-3

-13

380200

3,328584181727480

2,7391,392

432864593

2717159(*)

4

74

2,012

1,049947164323360101

102

161

1732,026

182-291

864593

2712,827

(*)

12-25

13

1984

IP

4,359

1,429350

1,079

2,688325

2,2313993

242-19

(*)1520

18

4

681

263

325261

2,5477242435368

275

3,4651,658

550885712

174137310

2

8

68

894

840740

34284407

15

100

185

2012,155

136104

885712

1742,600

-173317



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

Line

1234567

89

101112131415

16

1718192021222324

252627282930313233343536

373839404142434445

4647484950515253

545556

5758596061626364

656667686970717273747576

U.S. direct investment abroad:

Income (table 1, line 11)Income before capital gains/lossesCapital gains/ losses (gains +• losses -)1

Earnings (net of withholding taxes)Distributed earningsReinvested earnings

Interest (net of withholding taxes)

Capital (table 1 line 44)Equity capital

Increases in equity capital2

Decreases in equity capital3 ..Reinvested earningsIntercompany debt

U.S. parents' receivablesU.S. parents' payables

Fees and royalties (table 1, line 7)

By industry of affiliate: 4

Income (line 1)PetroleumManufacturingOther

Income before capital gains/losses (line 2)PetroleumManufacturing .Other

Capital:Equity capital (line 9)

PetroleumManufacturingOther

Reinvested earnings (line 12 or line 6 with sign reversed)PetroleumManufacturingOther

Intercompany debt (line 13)PetroleumManufacturingOther

Foreign direct investment in the United States:

Income (table 1, line 25)Income before capital gains/lossesCapital gains/ losses (gains — ; losses +) 5

Earnings (net of withholding taxes)Distributed earningsReinvested earnings

Interest (net of withholding taxes)U.S. affiliates' paymentsU.S. affiliates' receipts

Capital (table 1, line 57)Equity capital

Increases in equity capital2

Decreases in equity capital 3Reinvested earningsIntercompany debt

U.S. affiliates' payablesU.S. affiliates' receivables

Fees and royalties (table 1 line 21)U.S. affiliates' paymentsU.S. affiliates' receipts

By industry of affiliate: 4

Income (line 37)PetroleumManufacturingOther

Income before capital gains/losses (line 38)PetroleumManufacturingOther . .

Capital:Equity capital (line 47)....

PetroleumManufacturingOther

Reinvested earnings (line 50, or line 42 with sign reversed)PetroleumManufacturingOther

Intercompany debt (line 51)Petroleum .ManufacturingOther

3254932123

42632,365

(6)

(6)

184

9624(6)

(6)(6)

(6)(6)

(6)

(6)

5,794

32,549133308194

110253212312,3848180

11559

(6)

(6)

(6)

(6)

(6)

(6)

(6)

(6)

(6)

(6)

(6)

(6)

70537 137

8458452688315712081855

648

2314813 611147161 105315763806947

567

43515981,162

705331681 36725187 1373 15412602723

13611559

4,45685953,1572344

95718

6,380196

2,3623821

22268244152146

24,101177266,3751833

47564 194

-16,57612383

-6,375153242,848

12476

5,561

222681005949877223

24415921266868516

4194-1 157

557247963751 141

6694564

15324—846

68415486

4 1294130

120233313129021062703

598

148658312

10618230712907 8447664

179

7213771449

41292628

192130841302608

721 450

8312'406

27285178

-1,2901 320137012407,844

96617505127

20757272996542

23,9981490890903241

48814760

-9,8585098

-90908969

9018068

6,275

20,757917257895797

272991040295157382

4760-1798

215274690902155167052658969123414626272

67346091

643440530481 35723292829

500

11299594570971 1511357399649971 000

17014621292

673419771 165359260911 90012742917

5945321

153140931,357

920170607

3,99681

20101906

I

60566622

5656,11234272685

56

984216

-7,3937 17826851917

4872404

1,372

60562884128118916622238117932447

216241142315

26851248'253

1 1841917

338709

2964

9551243

288492681189463611148

3159578

22931 714'l89

27692475

295

33353321

955676164115

1243673172398

578245530197

-189467185471

2,76942

12131514

19

II

56836475

7926,00643301676

323

13602137

-3,2621 12516765172

1735346

1,305

56832385154617526475207521572243

213748111

16451676'l67447

1 0615172

89210

5052

1 1121 188

75611829218501673172

363022412525'284218

1 6071516

91

38308346

1 11270283

3281 188

69458

435

224123

3141903-218

317276259

1,607122653832

32

III

48915138

2475,53234182114

641

1 1001242

-2,3921 14921144457

5103947

1,396

48912658

6181 6145138230810491780

1242519230494

2 1141264

43412844457

416499

3542

10621093

31478780302584734151

326427482869

122302818

1640821

25310334

106280042

3041 093

77164

387

274822

12231502-302

388391299818

6795

846

IV

56386180

5426,4516552-101

813

3280599

-3,5292930

10137782998

779

1,488

56382131154119656180244716872046

59940017425

1011538

40310353778

835684

3929

999606

-394442

1024582557684127

481227452,932

187582

26492034

615

42406448

99945013

56260647093

229

2745115660

1969-582

148518211

2,649735

—221935

I

4 1665937

-17714,77926672,112

613

296—790

-2,4691679

-2,1122606

192588

1,462

4,1662239

617131059372,34019131684

790-263

163691

21121243

2761 1452606

808113

1686

1231-941-290

666-770

104564696132

2,30518461995

150104563

1 153590

44335290

— 123132080

830941307

-107528

184616

5021328-104

24211131563233

-119914

19

II

53446512

-1,1686,08032102,870

736

587-607

-1,590983

-2,8702890-4973387

1,605

5,34420971,853139365122,35425061652

607(*)

227380

2870482

-1,06713212890

593468

1,829

— 1700-1,321

-379— 1 131

-858273

-569697128

3,32716112,116

504273

14431,216

227

28-389

361

— 1,700367281

10521321

357275689

1611242285

108427315067

1901,443

1181,084

241

83

III

54146739

-1,3256,2202,8153,405

806

3713-820

-1,8481,028

-3,405511

-7141225

1,462

5,41423601,60914446,7392,45524441,840

8207726

-87134051233-7191453

511-462

1941,168

1,753-1,791

38— 1,146

-648-499-607— 725

118

3,3221 1521,569

417499

16711,782

111

37-355

318

— 1,753617231

-9051791

614-319

858

1 15245

339769499350122272

1,671152718802

IV

5,8348,111

-2,2786,9196,216

7031,086

285-2,543-3,950

1,408-7032,9612,093

868

1,745

5,83424751,71016488,1113,25326532,205

-2,543-1,613

125-805

703803

-15913472,961

2951,0761,590

-2,050-2,037

-13-1,462

772-689-589-711

122

2,3451,3371,417-81689319846

-527

-62-384

322

-2,050-673

572-8052037

622-574

842

1,33719

40591268944423015

31944

32752

1984

I"

8,0287,686

3418,9482,9905,959-921

-4,311-690

n.a.n.a.

-5,9592,338

n.a.n.a.

1,522

8,0283,1882,98818527,6863,0222,8471,818

-69026

-184532

5959-2,189-1,767-2,003

2,3382,041-259

557

-2,2262,202-25

-1,664-714-950

562-692

131

1,862604707

-103950308

10294

63-434

496

-2,226-523

794-909

-2,202525

-770906

60432

196440950168486297308296

-4161020



Table 6.—Securities Transactions[Millions of dollars]

Al

2

345

6789

1011

12

13

14151617

181920212223

2425262728

293031323334

Bl

2

3456789

10

111213

1415161718192021

12345

6

Foreign securities, net U.S. purchases (-) (table 1, line 45 or lines 2 +12 below).

Stocks, net U.S. purchases

New issues in the United Statesof which Canada

Transactions in outstanding stocks netWestern Europe .

of which United KingdomCanadaJapanOther

Bonds, net U.S. purchases

New issues in the United StatesBy issuer:

Other governments and their agencies and corporations l

Private corporationsInternational financial institutions 2

By area:Western EuropeCanadaJapanLatin AmericaOther countriesInternational financial institutions 2

Redemptions of U.S.-held foreign bonds 3 . . .Western EuropeCanadaOther countriesInternational financial institutions 2

Other transactions in outstanding bonds, net 3Western Europe

of which United KingdomCanadaJapanOther

U.S. securities, excluding Treasury securities and transactions of for-eign official agencies, net foreign purchases ( + ), (table 1, line 59 orlines 2 + 10 below).

Stocks, net foreign purchases

By area:Western Europe

of which GermanySwitzerlandUnited Kingdom

CanadaJapanOther

Corporate and other bonds, net foreign purchases

By type:New issues sold abroad by U.S. corporations 4 ...U.S. federally-sponsored agency bonds, netOther outstanding bonds, net

By area:Western Europe

of which Germany..SwitzerlandUnited Kingdom

CanadaJapanOther 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 A14)U.S. stocks (part of line A14)

Other foreign transactions in U.S. Treasury bonds and notes, net (table9, line B4).

New issues of bonds sold abroad by U.S. corporations' finance affiliatesin the Netherlands Antilles (included in table 5, line 8) 4.

-5,714

266

298-103

32-193

37686252

-209

5,448

8020

1 132-3,515-2,128-1,245

-816-4,816

297-472

374-1,245

1232256520197259

1,3401953716

510619

7,171

5,056

365522

28822161046

118237

2 115

360267

1488

171384810866112

17519841

1173112891,63410313,324

3,664

-8,102

1471

302-85160

1169-827

249139320161

6,631

7195

1 474-2,266-1505-1,950

-788-3,147

49-428

833-1,950

203023098179

740

-1,4661 183

-1364249579545

6,397

3566

2518334579

3096223

826

2 830

600206

2024

26782 Oil

1581892429

12728

14500694685334

2,780

10,253

-7,676

3,982

1458-633

2524-1,869

1068170940115

—3,694

5127

1 617-1,779

-519-1,212

-668-2,315

-96835

-1,212

2095510885555145

-6622648

-2,509311326

1349

8,612

6415

39661 0461 32517911 151

2741024

2 197

320446

1432

1 161287632419123682222

9

806487810985

4,648

5,752

I

-650

176

120-11

— 110

2962359

171147

-45

—826

1,412

228-983-201

-1,323

-89

36035

2169

100

226117130556915

1,314

667

7287453

692146

I86

646

232414

462416423773

10683

4 51430185

2651,103

2,555

19i

II

-502

— 135

70-19

50

65-53

13-30

60-42

—367

830

99-200-31

-500

-215

-1699

-500

62160

29670

195

-157480

-5883695

382

2,543

778

62683

146674

16100268

1 765

100270

1395

14841 015

10628689457572

2 586258198208253

3,270

32

III

-3,410

— 165

_7

158-162

286518

-43

3,245

3459

843-971-695-950

-517-1,348

-49-81514

-950

680135227

318

-46627

-8826525177

633

344

30434

22974815415541

289

300196185

50743718988

10819

137

4 gg2192203116485

2,778

IV

-3,541

— 1,347

105-55

1242-635

293-67509-31

— 2,193

1494

304-112-578-500

-271261

-331131

-500

369

242

127

-1,069793

-81875

302101

1,907

1,777

859211151982231256431

130

20010030

22514328

158146142540

2738'459199255939

1,650

I

-1,866

— 1,016ocq

-177

-753-581

21197

32455

—850

-1387

259-678-50

-400

-138-728

121-400

4201451956020

117— 562—484

17273

434

3,003

2,908

2479'483541

1,192300186315

95

60155

951

13419942

1085111

2 553'371194188

1,420

1,660

19J

II

-3,257

-1,855

-699-202

-1,156-636

379-11553

44

— 1,401

-1824

694-450-180-500

-415-828

-81-500

50040

190270

-77537

-211127

333

2,614

1,739

1 13227873634931386

380

875

320177378

682121425202

51746137

784170341485

2,263

1,480

33

III

-1,571

847

-387-215

-460267

-184-40

-21057

-725

-1,235

492-476

155-112

-65509

96-452-112

60022525010025

-90-718

848117196315

1,861

1,349

787228371311231211120

512

ibb413

15758

-2717040

17018

127

1 86736390

373-68

1,204

IV

-983

-264

-109-39

-155-385-294

124147

-41

-718

-681

172-175-134-200

-50-250

-181-200

575100250125100

-612-831

966-105

57267

1,134

419

-4325709061

307335209

715

229486

41710910024646

2309270

66441718561

1,033

1,408

1984

I"

244

343

-25-13

36866

-31143193

-34

99

-680

163-492-25

-25-475-100-18-62

575150175125125

6-841-609

11082

655

1,547

1,181

30936218613170839

125

365

-34399

16346

-2416635

230-16

23

10423627

626-171

1,992



Table 7.—Claims on and Liabilities to Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns[Millions of dollars]

Line

Al23456789

10111213141516171819Bl

23456789

10111213141516

Debits -; decrease in U.S. liabilities or increase in U.S.assets.)

Claims, total (table 1, line 46)Financial claims . .

Denominated in US dollarsDenominated in foreign currencies ..

By type: DepositsOther claims 2.

By area: Industrial countries 3r....:of which United Kingdom

Canada . ...... .7....Caribbean banking centers *Other

Commercial claimsDenominated in US dollars.... .. .Denominated in foreign currencies

By type* Trade receivables' Advance payments and other claims ..

By area* Industrial countries 3

Members of OPEC 5

OtherLiabilities, total (table 1, line 60)

Financial liabilitiesDenominated in U S dollarsDenominated in foreign currencies

By area* Industrial countries of which United Kingdom

Caribbean banking centers *Other

Commercial liabilitiesDenominated in US dollarsDenominated in foreign currencies

By type: Trade payablesAdvance receipts and other liabilities

By area* Industrial countries 3

Members of OPEC 5

Other . ..

1981

— 1,181978361617

-522456

-2401461

-1,5931 196

458203172

-315

-198127187111917786917

-13148836510319613121

110-1,336

146712891292

134

1982

6,62637283088'640

2,53111972,304-4992,3461303'121

28982943-45

28908

1579'542777

2383-1,292

1075-217

788-397-561

57-1 091

1063' 28

-2,4291338

75230191,176

1983

—5,333—5,266

4 774-492

-4,821—445

-3,212-1,786-1,472-1,897

-15767

-26-41290

-3572

68133

— 1,318-117

79-196

96-227-338

317-1,201

1385184

-1,191-10438

-1,184421

I

3,8792,5872006

5811,953

6331,599-1031,558

712276

12921,297

-51,304-12508214570-65590932

-34262373798

-131-655

402-253-634-21

-159-1,153

657

19

II

-308-639

816177

-877238281

-345640

-806-114

33137544

457-126

316203188

—2,023-2,237-2228

-91828

-1,114-472

6321419123-8222594

-1,032652

82

III

808458618

-1601,004-545

27150

594-138

33812

3464

2542175

—28271136135049813236

177-993

979-14

1,390397140

-1,03994

IV

2,2471,3221,280

42451871422

-12298

80397

925933

8783142501104320-13

-356-140

216-81

-152-223-52343127216

-397740177205

-39

I

-3,1993,187

-3,13255

-3,072-115

-1,836-1,433

-326-1,175

176-12

23-35179191148

5-165

-2,33733137039

20720

-50174

-2,668-2591

-77-2,060

-608740

-1,872-56

19

II

-230-592-689

97-406

186-936

626-268

594-250

362385-23524

-1622519021

-6435287

27812

-2518

-99-16

83399

-498253

-44290

83

III

-233-19827

-246-11-8569494-77

-769181

-214226

12-284

70-82

14-1181,311-86-14-72

-27912614053

1,3971,365

321,030

367-4631,828

32

IV

-1,671-1,468-1,180

-288-1,332

-136-1,009

-221-801-547

88203

-2085

-129-74319-13129

-228-397

305-92302

-109-177

82169

-143312

-560729512

-698355

1984

I"

n.a.n.a./i. 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.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.

Amounts

standingDec. 31,

1983

33,49322,29919,7402,559

17,3184,981

12,4405,7685,7598,0801,779

11,19410,593

6019,6551,5395,9711,3453,878

25,16310,3828,5041,8787,4662,8341,8411,075

14,78113,573

1,2086,4968,2858,2353,8512,695


Table 8.—Claims on Foreigners Reported by U.S. Banks[Millions of dollars]

Line

1

23

4567

8>9

1011

12131415161718

1920

21222324252627

29

30313233

1

2345

678

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

Total (table 1, line 47)Bytype:;

Payable in dollarsBy borrower:

unaffiliated foreign banksforeign public borrowers *other private foreigners. ..

By banks ownership: 2

U.S.-owned banks: claims onown foreign offices

other foreignersForeign-owned banks: claims on

own foreign officesunaffiliated foreign banksother foreigners

Payable in foreign currencies ...Banks' domestic customers' claims

Payable in dollarsDeposits

^Negotiable and readily transferable in-struments.

Outstanding collections and otherPayable in foreign currencies

By area:Industrial countries 3

Western Europe

CanadaJapanOther

Other areasof which Members of OPEC, included

below.5Latin AmericaAsiaAfrica .Other6

Memoranda:International banking facilities' (IBF's) own

claims, payable in dollars (lines 1-13 above).By borrower:

Claims on own foreign offices .unaffiliated foreign banks

all other foreignersBy bank ownership: 2

U S -owned IBF sForeign-owned IBF's

Banks' dollar acceptances payable by foreign-ers.

1981

84175

-75,296-74,437

31 291-20,717-9,885

-12,544

-20,58517 764

-11,839

-10,706-2,95310590

859-8,879-8,870

-326-9,950

1,406-9

-33,464-24,092

17 094-4,352

4019-1,00121 475

-29,236-2,302

-22,763-5,341

511-621

-62,170

-8,243-21,816

16 164-15,947

-21,379-40,791-6,970

1982

111 070

-107,023-104,296

-30,640-46,673-14,162-12,821

-16,23724700

-18,715

-14,403-21,973-8,268-2,727-4,047-4,341

1 112-4,411

1,182294

-49,183-43,053

26 076-3,241

1591-1,29825462

-36,425-5,698

-26,344-9,499

867285

-78,461

-17,820-34,350

14071-12,220

-33,855-44,606-8,202

1983

25,391

-31,37631,826

16724-1,402

-11,832-1,868

-6,5883,512

-10,203

-10,136-4,914

3497450

5,9856,367

4795,661

1,185-382

-6,889-6563,516

-2,9651936

-1,332-4,804

-13,698-3,103

-8,952-4,202

57026

-27,638

8841-7,378-8,732

2687

13 936-13,702

830

1982

I

-33,343

27 879-27,559

-5,133-14,380

3045-5,001

-2,9946425

-5,597

-2,1397955

-2,449-320

-5,464-5,491

27-6,325

80727

-15,826-13,295

9 210-2,726

587-3926904

-10,613-1,663

-9,395-1,374

250406

-27,284

-3,172-14,270-4,589-5,253

-12,718-14,566

-850

II

-39,403

39878-39,283

-14,040-14,915-5,832-4,496

-5,17810 104

-6,895

-8,862-4,811-3,433

-595475453178164

11122

-14,075-8,317

4318-1,382

3,970-4069477

-15,851-1,800

-11,433-3,667

-659-92

-25,849

-6,593-9,889-4,876

4491

11709-14,140-2,505

III

-21,405

-25,447,-24,992

-11,074-9,919-2,687-1,312

-8,154-4,424-2,589

-2,920-5,495-1,410

-4554,0423,627

1593,265

203415

7218-10,871-7,716

2,3341,654

335-9,554-4,633-1,008

-3,896675

-26-36

-15,840

-5,496-7,529

1838-977

-6,518-9,322-2,222

IV

-16,919

13819-12,462

-393-7,459-2,598-2,012

893747

-3,634

-482-3,712

-976-1,357-3,100-2,930

1476-1,515

61-170

-12,064-10,570

4832-1,467

138-165

473-5,328-1,227

-1,620-3,783

687

-9,488

-2,559-2,662

2768-1,499

-2,910-6,578-2,625

1983

I

-18,175

-20,257-19,854

-16,683-1,387-2,167

383

-7,7052,792

-1,219

-8,978-4,179

-565-4032,0822,043

3641,503

17639

6144-1,914-2,061-3,349

-329552

-8,762-3,269

-949

-1,98893637

-382

-10,960

-5,094-3,482-1,540

-844

-3,784-7,176

2,931

II

3,894

1,3781,130

3,7421,341

-2,739-1,214

5451,5183,627

3,197-177-326

2482,5162,563-5052,323

745-47

4,9174,9354,679

-1,129887224

2,6283,651-921

-1,548-1,821

-124-158

-3,466

-964-1,053-1,065

-384

-2,774692322

III

-2,871

2445-2,323

2,624-1,032-4,050

135

3,8665

-1,327

-1,242-1,037-2,588

-122-426-393-23

-612

242-33

-5,3584,187

-3,037226

-950-4476,767

-4,280122

-3,250-956

240166

-8,911

-1,877-2,990-3,651

-393

2758-6,153

282

IV

-8,239

10,052-10,779

-6,407-324

-2,876-1,172

-3,294-803

-4,030

-3,113479-18727

1,8132,154

3152,447

22-341

-304510

3,9351,2871,544-557

-5,437-2,498-1,355

-2,166489

-243400

-4,301

-906147

-2,476-1,066

-4,620319

-2,705

1984

I"

-334

1,2102,946

-2,2663,374-4812,319

-4,5045,1842,391

2,238-1,810

-553-1,736-1,544-2,241

-690-888

-663697

-2,497-1,539

1,760-1,497

739200

1,49566835

-7301,420

89111

-5,422

-3,275-512

-1,015-620

-771-4,651

301

Amountsout-

standingMarch

31, 1984

430,302

393,757384,765

146,282119,40557,73661,342

84,04364,86564,319

62,23954,54054,7598,992

36,54536,1843,659

25,992

6,533361

177,395118,37670,25121,85731,691

5,471104,423148,48421,502

103,63237,393

4,4143,045

173,691

38,17964,05639,98131,475

69,940103,75137,023



Table 9.—Foreign Official Assets and Other Foreign Assets in the United States Reported by U.S. Banks[Millions of dollars]

Line

Al

2345678

91011121314

Bl

2

345

678

91011

1213

1415

16171819

20

2122

23

2425

26

2728

2930313233343536373839

1

2345

67

8

(Credits +; increase in foreign assets. Debits — ; decrease inforeign assets.)

Foreign official assets in the United States (table 1, line 49) ...

U.S. Treasury securities (table 1, line 51)Bills and certificatesBonds and notes marketableBonds and notes nonmarketable

Other U.S. Government securities (table 1, line 52)Other U.S. Government liabilities (table 1, line 53)U.S. liabilities reported by U.S. banks, not included

elsewhere (table 1, line 54).Banks' liabilities for own account, payable in dollars 1 ....

Demand depositsTime deposits l

Other liabilities 2

Banks' custody liabilites payable in dollars 1>3

Other foreign official assets (table 1, line 55)By area: (see text table B)

Other foreign assets in the United States (table 1, lines 58and 61).

U.S. Treasury securities (line 58)

By security:Bills and certificates ....Marketable bonds and notesNonmarketable bonds and notes 4

By holder:Foreign banksOther private foreignersInternational financial institutions 5

U.S. liabilities reported by U.S. banks (line 61)Banks' own liabilities 1 ...

Payable in dollars

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

demand depositstime deposits 1

other liabilities 2..By holder:

Liabilities to own foreign officesunaffiliated foreign banks....other private foreignersinternational financial institutions 5

By bank ownership: 6

U.S.-owned banks: liabilities toown foreign officesunaffiliated foreign banksother private foreigners and international

Foreign-owned banks: liabilities toown foreign officesunaffiliated foreign banksother private foreigners and internatonal

financial institutions 5

Payable in foreign currencies

Banks' custody liabilities, payable in dollars lf 3

of which negotiable and readily transferable in-struments.

By area:Industrial countries 7

Western EuropeCanada ....Other

Caribbean banking centers 8

Other areas .of which Members of OPEC, included below 9

Latin America....AsiaAfricaOther10

Memoranda:International banking facilities' (IBF's) own liabilities, pay-

able in dollars (in lines A9 and Bll above).

By holder:Liabilities to own foreign offices

unaffiliated foreign banksforeign official agenciesother private foreigners and international

financial institutions 5.By bank ownership:

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

Negotiable certificates of deposit held for foreigners 1 (inlines A13 and B27 above).

1981

5,003

5,0193848

11 73128641,289-300

-3,670

-7681 119

537186

29022,665

45,074

2,946

1,5113324

-1,889

1046517

1,383

42,1283934839,434

28,799

2,63713319

47

2879949715,469

195

218421,386

4 487

69573,585

1,177

86

27801,195

13,20911039

232,193

248177048

9046811009

451403

47,584

3149410,84233281,920

20,41427 170

-274

1982

3,318

5,7285731

14 5003041-694

382-1,747

-469664

12971 1021278-351

72,984

7062

60462780

-1,764

41242956-18

659226506263741

21720

3076376977400

2172023418173351268

174852431

11 288

423520987

7,315

1321

8602,508

3859533985

2 0272583

18894154954736

115332915

361083

73,646

28569272191900

15,958

3422339423

3,561

1983

5,339

6,9897683

8061500-487

199433

2,67661

1,766971

2243-1,795

57,790

8731

53574648

-1,274

43684983-620

49,0594924048879

25,631

1766202981 184

256319864

106602724

15812410

5 868

981910*274

7,516

361

181-868

263471922740013119

2071710726

47350204096

841694

32,867

14512972712507,378

13 11219755

-3,899

I

-3,221

-1,32753414514

500-301-89

-1,684

-1,561531708

1738123180

27,158

1,302

1991 103

5331310-541

25,8562721326706

11,696

2962144023570

11696114023693

85

1240668

2 698

71011334

910

507

1357-2

1366310072

9752616

108752 620

1913 173

658412799

30,940

114121424212864,000

1337717563

454

m

II

1,399

-2,094353925861 141

258428

2,797

3,4321095

461i 876

63510

28,223

2,098

2,199253

-354

708423967

26,1252494024457

11,537

38118511031

1153750867152

682

5744*919

4 324

57934167

3,510

483

1 1851,175

1173910619

814306

69499 5354 14757822066

1381549

23,494

107225406

9586,408

1139412100

1,720

2

III

2,477

4,803941

4662800

-192-177

-1,870

-2,157617118

1658287-87

12,292

1408

1817485

-894

19711626

-2,189

10,8849 1149052

941

124966082752

941322533131573

324969

2 686

23083294

2,200

62

17701,707

1108010333

5231270

4031 615

5621807

20629

427

11,604

42104496

3593,257

67784826

625

IV

2,664

4,34622082738

600-459

221-990

-183611

10418807

-454

5,311

2254

1831939

-516

912403

1,745

305737953526

-2,454

10974836

47

24543*7053,177

902

39141 513

1 580

14602192

695

269

738-372

21132961

761160914731 725

164771

15209760

7,608

22253075

152,293

26744934

762

I

-252

3,0121,2592553

800-371-533

-1,978

-165282

-170277

1813OQO

13,168

2,924

1,8831420-379

1312701911

10,2441041210168

6,292

1983004

674

6292175

3,526525

628-1,328

781

56641,153

3,270

244

168-56

3843876

2150817

64842841

534571

1 12551

1 196

5,571

4243199328

1,855

28622709

-2,985

198

II

1,739

1,9851,201

784

-170434316

-46-120

700626362

-826

4,837

3,139

1,3662263-490

12811252

606

1,69821171325

-4,250

9284123

524

425022152,515

845

—2056-462

1 654

—21942,677

1,706

792

419-527

443320711822

54026293033

241634

385226

1240

5,435

892196

5582,592

3595076

148

3

III

-2,703

-6111,2561867

-363137

-1,403

-281-174

170-2771 122-463

15,787

995

1,46868

-405

1038313

-356

14,7921400013,904

8,125

-6765763

692

81253,6562,377-254

4,931-363

575

3,1944,019

1,548

96

792-175

7,5076682

77748

44393841

32326321556

276623

13,157

7 1634026

7261,242

39489209

-1,124

IV

6,555

2,6033,967

664-700

417161

3,498

3,168-49

1,0662,151

330-124

23,998

1,673

6401033

7372,717

-1,781

22,3252271123,482

15,464

1,3167,408-706

15,4644,1682,2421,608

12,3091,743

2858

3,1552,425

992

-771

-386-110

10,5649,598

481,014

12,4231011

660183

1,03083

119

8,704

30173,704

2941,689

59432761

62

1984

lp

-2,859

-269661

1,042-650-36185

-2,140

-2,301208

-777-1,732

161-599

11,253

1,490

1,661-171

585-15920

9,7639,2598,296

1,437

-2316,979

111

1,4374,4632,981-585

4,344-1,167

32

2,9075,630

2,364

963

504395

9,3185,4931,4182,407

9121023-66

1,368-1,000

190465

9,560

45014,436

5651,188

2,5437017

-719

Amounts

standingMarch

31, 1984

190,957

129,41753,68169,1366,6007,211

13,83623,282

17,0142,0456,5178,4526,268

17,211

325,534

35,431

15,98819,443

10,76318,2716,397

290,103273,793267,625

146,288

15,52689,78316,028

146,28864,55752,7334,047

78,19615,667

33784

68,09248,890

22,996

6,168

16,31011,843

155,553122,57516,70516,273

102,0866789512,94536,42917,6351792

12,039

163,657

7907552,2245911

26,447

7029493363

9,688



Footnotes to U.S. International Transactions Tables l-10aGeneral notes for all tables: pPreliminary. *Less than $500,000(±). n.a. Not Available.

Table 1:1. Credits, +: exports of goods and services; unilateral transfers to United States; capital in-

flows (increase in foreign assets (U.S. liabilities) or decrease in U.S. assets); decrease in U.S. offi-cial reserve assets.

Debits, —: imports of goods and services, unilaterial transfers to foreigners; capital outflows(decrease in foreign assets (U.S. liabilities) or increase in U.S. assets); increase in U.S. official re-serve assets.

2. Excludes transfers of goods and services under U.S. military grant programs (see line 14).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 inCensus import documents, and reflects various other adjustments (for valuation, coverage, andtiming) of Census statistics to balance of payments basis; see table 3.

4. For all areas, amounts outstanding March 31, 1984, were as follows in millions of dollars:line 34, 34,974; line 35, 11,111; line 36, 5,341; line 37, 11,706; line 38, 6,817.

5. Includes sales of foreign obligations to foreigners.6. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible

and nonconvertible bonds and notes.7. Consists of U.S. Treasury and Export-Import Bank obligations, not included elsewhere, and

of debt securities of U.S. Government corporations and agencies.8. Includes, primarily, U.S. government liabilities associated with military sales contracts and

other transactions arranged with or through foreign official agencies; see table 4.9. Consists of investments in U.S. corporate stocks and in debt securities of private corporations

and State and local governments.10. Conceptually, the sum of lines 67 and 62 is equal to "net foreign investment" in the Nation-

al Income and Product Accounts (NIPA's). However, the foreign transactions account in theNIPA's (a) includes adjustments to the international transactions accounts for the treatment ofgold, (b) excludes capital gains and losses of foreign affiliates of U.S. parent companies from theNIPA's measure of income receipts from direct investment abroad, and from the correspondingincome payments, and (c) beginning with 1973-IV, excludes shipments and financing of militaryorders placed by Israel under Public Law 93-199 and subsequent similar legislation. Line 65 dif-fers from "net exports of gdods and services" in the NIPA's for the same reasons with the excep-tion of the military financing, which is excluded, and the additional exclusion of U.S. Govern-ment interest payments to foreigners. The latter payments, for NIPA's purposes, are excludedfrom "net exports of goods and services" but included with transfers in "net foreign investment."A partial reconciliation table of the international accounts and the NIPA's foreign transactionsaccount appears in the "Reconciliation and other Special Tables" section in this issue of theSURVEY OF CURRENT BUSINESS.

11. Includes return import into the United States, at a depreciated value of $21 million in1972-IV and $22 million in 1973-11, of aircraft originally reported in 1970 111 in line 3 as a long-term lease to Australia.

12. Includes extraordinary U.S. Government transactions with India. See "Special U.S. Govern-ment Transactions," June 1974 SURVEY, p. 27.

13. Includes foreign currency denominated notes sold to private residents abroad. See table 9,line B5, footnote 4.

Table 2:For footnotes 1-10, see table 1.11. See footnote 13 to table 1.

Table 3:1. Exports, Census basis, represent transaction values, f.a.s. U.S. port of exportation, for all

years; imports, Census basis, represent transaction values, f.a.s. foreign port of exportation for1974-81. For all prior years and beginning in 1982, imports reflect Customs values. (See TechnicalNotes, June 1982 SURVEY.) The unadjusted figures for exports and imports shown in lines Al,A10, Dl, and D60, are as published by the Census Bureau, as are the seasonally adjusted figureson lines Al and A10; Census data are adjusted to include trade between the U.S. Virgin Islandsand foreign countries. The seasonally adjusted figures in lines Dl and D60 are prepared by BEAand represent the summation of seasonally adjusted 4-digit end-use categories (see TechnicalNotes in the June 1980 SURVEY).

2. Adjustments in lines A5 and A14, B12, B46, and B80 reflect the Census Bureau's reconcilia-tion of discrepancies in the merchandise trade statistics published by the United States and thecounterpart statistics published in Canada. There adjustments also have been distributed to theeffected end-use categories in section C.

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 (lineA15), to the extent such trade is identifiable from Customs declarations. These exports are includ-ed in tables 1, 2, and 10, line 3 (transfers under U.S. military agency sales contracts); and theimports are included in tables 1, 2, and 10, line 17 (direct defense expenditures).

4. Addition of electrical energy; deduction of exposed motion picture film for rental rather thansale; deduction of exports to the Panama Canal Zone before October 1, 1979; net charge in stockof U.S.-owned grains in storage in Canada; net timing adjustments for goods recorded in Censusdata in one period but found to have been shipped in another; and coverage adjustments for spe-cial situations in which shipments were omitted from Census data.

5. Correction for discrepancy between sum of four quarters, seasonally adjusted, and the unad-justed annual totals, plus the difference between Census pulished seasonally adjusted totals andthe summation of seasonally adjusted 4-digit end-use categories.

6. Addition of understatement of inland freight in f.a.s. values of U.S. merchandise importsfrom Canada in 1974-1981; deduction of foreign charges for repair of U.S. vessels abroad, whichare included in tables 1, 2, and 10, line 20 (other transportation); deduction of imports fromPanama Canal Zone before October 1, 1979; net timing adjustments for goods recorded in Censusdata in one period but found to have been shipped in another; and coverage adjustments for spe-cial situations in which shipments were omitted from Census data.

7. Annual and unadjusted quarterly data shown in this table correspond to country and areadata in table 10, lines 2 and 16. Trade with international organizations includes purchases of non-monetary gold from the IMF, transfers of tin to the International Tin Council (ITC), and sales ofsatellites to Intelsat. The memorandum items are defined as follows: Industrial countries: West-ern Europe, Canada, Japan, and Australia, New Zealand, and South Africa; Members of OPEC:Venezuela, Ecuador, Iraq, Iran, Kuwait, Saudi Arabia, Qatar, United Arab Emirates, Indonesia,Algeria, Libya, Nigeria, Gabon; Other countries: Eastern Europe, Latin American Republics, otherWestern Hemisphere, and other countries in Asia and Africa, less OPEC, and international orga-nizations. Before 1984, complete geographic area detail was not available for some balance of pay-ments adjustments, e.g., timing. Therefore, the new detail shown does not always sum to thevalues shown for the traditional area aggregates, e.g., EC(10). For all years, "Asia and "Africa"exclude certain Pacific Islands and unidentified countries included in "other countries in Asiaand Africa."

8. The statistical identification of automotive products exports to Canada (line D47) is not ascomplete and comprehensive as the identification of imports under the U.S.-Canada AutomotiveProducts Trade Act. However, the underestimation of automotive shipments to Canada due tounidentified auto parts and unreported exports, amounting to about $1,708 million in 1982, and$2,484 million in 1983, has been largely corrected in line C24.

9. Includes nuclear fuel materials and fuels.10. Includes downward revision amounting to $11 million in 1982 QIII imports from Mexico

which is not in published Census statistics.

Table 4:1. Expenditures to release Israel from its contractual liability to pay for defense articles and

services purchased through military sales contracts—authorized under Public Law 93-199, section4, and subsequent similar legislation—are included in line A3. Deliveries against these militarysales contracts are included in line CIO; see footnote 2. Of the line A3 items, part of the militaryexpenditures is applied in lines A38 and A41 to reduce short-term assets previously recorded inlines A36 and C8; this application of funds is excluded from lines C3 and C4. A second part of lineA3 expenditures finances future deliveries under military sales contracts for Israel and othercountries and is applied directly to lines A37 and C9. A third part of line A3, disbursed directly tofinance purchases by Israel and other countries from commercial suppliers in the United States,is included in line A32. A fourth part of line A3, representing dollars paid to recipient countriesto finance purchases from countries other than the United States, is included in line A43.

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 transactionsunder military sales contracts. The entries for the several categories of transactions related tomilitary sales 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 A33 includes foreign currency collected as interest and line A38 includes foreign cur-rency collected 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 contraentry forthe part of line CIO which was delivered without prepayment by the foreign purchaser. Also in-cludes expenditutes 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. Includes $1,000 million prepayment for petroleum to be delivered by Mexico.9. Includes receipts on short-term Commodity Credit Corporation assets financing U.S. mer-

chandise exports

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 accounts, and other equity contributions.3. Sales, liquidations, and other dispositions of equity holdings, total and partial.4. Petroleum includes the exploration, development and production of crude oil and gas and the

transporation, refining and marketing of petroleum products exclusive of petrochemicals. Manu-facturing excludes petroleum refining. "Other" industries includes mining; trade; banking; fi-nance (except banking), insurance, and real estate; agriculture, forestry, and fishing; construc-tion; transportation, communication, and public utilities; and services.

5. Also included in line 40.6. For U.S. direct investment abroad, data reflecting the new treatment of unincorporated af-

filiates (see Technical Notes) are not available for 1981.

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. Un-identified and nonscheduled retirements appear in line 29.

4. Issues through finance affiliates established primarily to borrow capital from abroad. Issuesare almost always guaranteed by the establishing U.S. parent and are often convertible into theparents' securities. To the extent proceeds are transferred from offshore affiliates to U.S. par-ents — the common practice — they are recorded as direct investment transactions in table 5, line8.

Table 7:1. Amounts outstanding were reduced by an increase in reporting exemption levels from $2

million to $10 million, effective March 1982. Capital flows omit the impact of the drop in report-ing coverage.

2. Primarily mortgages, loans, and bills and notes drawn on foreigners.3. Consists of 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.

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 organiza-tions.

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 UnitedStates.

3. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.

(Footnotes continued on p. 73.)


Table 10a.—U.S. International Transactions,[Millions

Line

1

23

456

789

10

111213

14

15

1617

181920

21222324

252627

28

29

303132.

33

3435363738

39404142

4344454647

48

49505152535455

565758596061

62

63

64656667

(Credits +; debits — ) 1



Transfers under U.S. military agency sales contracts . . . . .


Fees and royalties from affiliated foreigners . . . . .Fees and royalties from unaffiliated foreignersOther private services .U.S. Government miscellaneous services

Receipts of income on U.S. assets abroad:Direct investmentOther private receiptsU.S. Government receipts

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


Merchandise, adjusted excluding military 3

Direct defense expenditures



Payments of income on foreign assets in the United States:Direct investmentOther private paymentsU.S. Government payments

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




U.S. official reserve assets, net4

GoldSpecial drawing rightsReserve position in the International Monetary FundForeign currencies


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

U.S. private assets, netDirect investmentForeign securitiesU.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/captial inflow ( + ))



Other7

Other U.S. Government liabilities8 ....U.S. liabilities reported by U.S. banks, not included elsewhereOther foreign official assets9

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 ofabove items with sign reversed).


Balance on goods, services, and remittances (lines 65 31 and 32)Balance on current account (lines 65 and 29) 10

Belgium-Luxembourg

1981

7,437

5,643316

7632

177

28131461

267559

8

n.a.

-3,805

-2,281130

-45-90

-110

-9-720

-22

-314-454-323

n.a.

-15

6-9

-1,282

-26

11-37

-1,25619

-416101

-960

793

J (")

44

J (1X)

329(1X)82

-16"354

-3,128

3,3623,6323,6173,617

1982

6,887

5,153260

7536

161

23314411

255650

8

n.a.

-3,848

-2,386-111

-57101

-108

-17-14-14

28

471-428-113

n.a.

-20

-713

2988

59

1544

-3,047(*)

54792

2 592

-1,438

(1X)

69

(")

390t11)

-2401

"-1,658

1,407

2,7673,0393,0193,019

1983 "

6,853

4,973241

6631

164

24118501

333728

7

n.a.

-3,477

-2,402-159

-65133

-100

17-13-36

30

204-291-27

n.a.

-18

-7-11

-2,572

-3

17-20

-2,569-22

1 373-191 155

-257

(")

-77

(")

206(1X)

-267-184"65

-529

2,5713,3763,3583,358

France

1981

9,947

7,43113

279177246

324133110

9

1481,066

11

n.a.

-8,754

-5,839-41

-375283

-157

108-30-71

68

3-834-951

n.a.

-48

27-21

161

(*)

(*)

-355924(*)

-12615721

366670

-125

(")

3

(")

1,999(")916399

"-3,442

-859

1,5921,1931,1451,145

1982

9,605

7,19417

287186244

2811239917

-831,228

12

n.a.

-7,725

-5,533-51

-464303

-153

23-22-66

93

360-949-428

n.a.

53

29-24

-3,439

(*)

(*)

813174

-3,447548

-515406

3886

47

(x l)

30

(xl)

-166t11)162

-80"101

1,565

1,6611,8801,8271,827

1983 '

8,260

5,97216

254135241

36879

12918.

-1011,136

13

n.a.

-8,373

-6,01162

-596333

-158

-85-24

73-68

191-771-383

n.a.

-59

-30-29

-583

(*)

(*)

-1522169

-568644

-21315

-1,014

1,832

(")

57

(")

153(1X)

-1866

"1,802

-1,077

-39-113-172-172

Germany

1981

15,144

10,502439

659216609

51110114616

849363733

n.a.

19,866

-11,3893027

-361-386-668

-37-43160

-68

-48-5383141

n.a.

530

-147677

-1,798

-1,708

1708

3

12-9

-93-293-22

47175

3098

(")

-109

(")

1,747(X 1)826

-155" -5,407

9,088

-8874722

-4,192-4,192

1982

14,003

9,213461

637197597

495107167

9

1,087323710

n.a.

20,339

-11,902-3,579

411-418-620

-2435

-114-77

293560

-2,892

n.a.

470

-149619

409

1,286

1,286

-1

8-9

-876-18

(*)203

1061

1,169

(")

92

(")

535(")

2,44214

"-1,702

4,288

-2,6896336

-5,866-5,866

1983 *

12,258

8,358340

542179€156

52417218048

689227343

n.a.

-22,341

12 642-4,035

-416-516-712

-1236

-145-92

156-557

-3,022

n.a.

477

125602

1,226

675

675

20

614

531-184

4262

611

1,622

O1)

23

("),

645(")

1,332-15

"-363

6,758

-4,28410 083

-9,606-9,606



by Selected Countries (published annually)of dollars]

Italy

1981

7,568

5,41525

11491237

27368842

38584925

n.a.

-7,527

-5,181-661

-301-180-311

6-4-53-26

30-494-352

n.a

-207

-19-154-34

-1,973

-102-154

511

-1,8713613

-90-1,830

107

(»,21

««,363C11)1121

"-309

2,032

23441

-147-166

1982

7,116

4,64131

11388222

28884952

4841,027

41

n.a.

-7,708

-5,290-623

-490-187-305

3-8-61-25

2-498-226

n.a.

-203

11-166-26

-2,526

39_746(*)

-2,56525

359-2,931

-1,192

(-)33

C11)

333(ii)-1461

"-1,605

4,513

-649-592-784-795

1983 "

6,042

3,90230

11188190

30787918

30589033

n.a.

-7,669

-5,444-566

-485-216-274

1-4-68-36

38-359-256

n.a.

-207

15-169-23

-1,529

38

40-2

-1,567-292

739

-1,321

3,180

(»)61

(»>152(ii)1330

"2,924

183

-1,542-1,627-1,819-1,834

Netherlands

1981

10,304

7,358396

13922498

34728822

1,218206g

n.a.

-7,231

-2,348-68

-75-347-271

-12-20-18-10

-3,283-455-324

n.a.

-13

-7-6

-1,069

35

332

-1,104-769-5616

-295

5,464

C11)

12

C11)

4,732(ii)112130

"478

-7,455

5,0103,0733,0603,060

1982

10,451

7,455461

13710460

39027761

1,1982315

n.a.

-6,120

-2,476-90

-97-432-249

-11-11-35-10

-1,838-463-408

n.a.

-15

-8-7

-591

19

26-7

-610274-92-117-675

5,618

(-)-79

(»)3,975(ii)-30202

"1,550

-9,343

4,9794,3314,3164,316

1983 P

10,883

7,635524

1334

546

54025901

1,1722103

n.a.

-6,883

-2,960-79

-128-466-285

-35-10-20-11

-1,971-371-547

n.a.

-15

-8-7

98

51

2031

47-76-246384

3,413

<">2

C11)

2,479(ii)-58-184

"1,174

-7,496

4,6754,0003,9853,985

Mexico

1981

27,507

18,2073

\ 3,775

293

250424439

1,3623,049

74

n.a.

-18,352

-13,767-1

\ -2,862/

-259

-4-1

-623-51

-2-777-5

n.a.

-348

— 13-133-202

-11,401

-146-236

90(*)

-11,255-951-373-24

-9.907

2,913

C")

55

20C11)-351

"2,790

-319

4,4409,1558,8208,807

1982

19,224

11,73684

3,098

219

154253684

-1,3094,651194

n.a.

-20,882

-15,556—2

-3,324

-225

2-1

-730-38

18-1,017

-9

n.a.

-298

— 14-147-137

-7,751

-1,218

— 1,218

-1,0701315245(*)

-5,4631,254

47293

-7,057

1,297

(»,-46

(»>41

(ii)-1057

"1,255

8,410

-3,820-1,658-1,942-1,956

1983 P

15,904

9,08115

1,951

189

1142432913

-1694,005352

n.a.

-22,271

-16,774-1

-3,576

-324

2-1

-722-48

1-814-14

n.a.

-310

— 10-157-143

-2,756

1,218

1,218

620—333953(*)

-4,5944947

-114-4,981

2,497

C11)

5

(»)12

(ii)31266

"2,183

6,936

-7,693-6,367-6,667-6,677

Venezuela

1981

8,244

5,44113

( 822.

25

}'

465.

2971,168

13

n.a.

-6,405

-5,563-15

!

'

-275

-15-505-32

n.a.

-16

-2-14

-2,134

-41—7333-1

-2,093-343

13-25

-1,738

1,084

0,

29

C11)

1(ii)16

-19"1,057

-773

-1221,8391,8231,823

1982

8,144

5,19227

830

21

197

3111,549

17

n.a.

-6,086

-4,761-4

-277

-6-1,000-38

n.a.

-9

-2-7

-3,378

23133(*)

-3,380-562381

-3,428

4,513

(»)257

C11)

-1(ii)16

-98"4,339

-3,184

4312,0582,0492,049

1983 P

4,184

2,700129

527

7

126

-6751,355

15

n.a.

-5,984

-4,937-1

-235

-27-763-21

n.a.

-8

-2-6

244

_9—3123-1

253769-6684

-534

-60

C11)

47

C11)

-12(ii)3428

11 -157

1,624

-2,237-1,800-1,808-1,808

Australia

1981

8,282

5,118358

{221175261

273

( 42912

1,362368

n.a.

-3,415

-2,459-34

!

-210-94-321

-9-2-17-23

-26-69-151

n.a.

-29

-10-19

-1,220

-77—96154

-1,143-623

26-60-486

163

(->-288

<"',248(ii)-46-15"264

-3,781

2,659.4,8674,8384,838

1982

6,580

4,402124

253173237

257381502

53539316

n.a.

-3,387

-2,282-35

-205-123-288

-2-2-21-25

-5-77-322

n.a.

-38

-12-26

-233

-366327(*)

-197318

-3969

-128

5,169

C11)

130

C11)

153(ii)13039

"4,717

-8,091

2,1203,1933,1553,155

1983 P

6,140

3,844374

237178256

280321665

36238125

n.a.

-3,624

-2,220-35

-259-140-324

-3-3-22-29

-53-64-472

n.a.

-36

-12-24

-1,110

-75-120

45(*)

-1,035-273-228

78-612

2,481

C",

149

<»)184(ii)19160

"1,969

-3,851

1,6242,5162,4802,480

South Africa

1981

3,951

2,915

422

112

8429961

491179

n.a.

-2,589

-2,445-1

-8-31-52

(*)(*)-7-10

-1-27-7

n.a.

-16

-1-15

-938

3

3

-941-281-626

-604

201

c»,-4

(»)-6(ii)

79""132

-609

4701,3621,3461,346

1982

3,106

2,369(*)

42498

7325572

192244

n.a.

-2,115

-1,967-1

-12-18-47

(*)-1-12-16

6-39-8

n.a.

-13

-1-12

-899

-1

-1

-898511737

-1,003

-96

C11)

-3

(-,-5(ii)339

"-130

17

402991978978

1983 P

2,847

2,130(*)

46578

8122502

164269

n.a.

-2,511

-2,365-1

-26-21-31

(*)-3-17-16

8-35-4

n.a.

-11

-2-9

-406

-1

-1

-405109117-20-611

93

0,

(*)t11)2

(ii)31

-99"159

-12

-235336325325

Line

1

23

456

78910

111213

14

15

1617

181920

21222324

252627

28

29

303132

33

3435363738

39404142

4344454647

48

{4950515253

{5455

565758596061

62

63

64656667



Line

1

23

456

789

10

111213

14

15

1617

181920

21222324

252627

28

29

303132

33

3435363738

39404142

43444546

47

48

49505152535455

5657585960

61

62

63

64656667

(Credits + ; debits -) l



Transfers under U S military agency sales contracts . . .


Fees and royalties from affiliated foreignersFees and royalties from unaffiliated foreignersOther private servicesU S Government miscellaneous services







Fees and royalties to affiliated foreignersFees and royalties to unaffiliated foreignersPrivate payments for other servicesU S Government payments for miscellaneous services

Payments of income on foreign assets in the United States:Direct investmentOther private payments

U.S. Government payments



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

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

GoldSpecial drawing rightsReserve position in the International Monetary FundForeign currencies

U.S. Government assets, other than official reserve assets, netU S loans and other long-term assetsRepayments on U.S. loans 5 . ....U.S. foreign currency holdings and U.S. short-term assets, net

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

concerns.U.S. claims reported by U.S. banks, no including elsewhere


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

U S. Treasury securities 6

Other 7


U.S liabilities reported by U S banks not included elsewhereOther foreign official assets 9

Other foreign assets in the United States, netDirect investment ..U.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 items with sign reversed).

Memoranda:Balance on merchandise trade (lines 2 and 16)Balance on goods and services (lines 1 and 15)10

Balance on goods services and remittances (lines 65 31 and 32)Balance on current account (lines 65 and 29) 10

Ref. lines(table 10,

March1984

Survey)

1

23

456

789

10

111415

16

17

1819

202122

23242526

273031

32

33

343536

37

3839404142

43444546

474851

52+53

54+55

56

57585960616263

64656869

70+71

72+73

74

75

76777879

Western Europe

1981

106,067

65,1082,719

2,5491,2974,036

3,002602

1,064100

11,83812,3141,438

114

-96,320

-52,873-6,231

-3,123-3,344-4,049

-534-222-857

428

-5,144-11,881-7,636

-114

-90

-182643735

29 166

-779(*)

-779

-70-1,202

1,1239

-28,317-5,278

-6811,695

-24,053

15,411

-15,728

\ (14)

-106

| (14)

31,13913,811

(14)

5,368920

(14)

4,099

12,2359,7469,8389,656

1982

99,701

59,7012,776

2,4761,3063,790

2,981602

1,174104

8,98714,4221,382

252

-96,097

-52,908-6,901

-3,413-3,507

3,678

-186-206-905

478

3744-13,200-6,971

-252

-504

-473677646

43968

1,245

1,245

278-8681,132

15

-45,491-783

-2,573919

-43,054

45,709

-4,433

(14)

-39

(14)

50,14111,380

(14)

5,196-448

(14)

-4,841

6,7933,6043,5743,101

1983

92,524

54,8773,004

2,1571,1393,875

3,315616

1,270158

7,92913,1401,045

60

-98,634

-53,896-7,012

-3,991-4,096-3,857

276—212-886

513

-5,069-11,361

7,466

-60

-280

-288-672

680

-9,414

1,123

1,123

-1041 1701,031

35

-10,433-3,224-5,059-1,483

-667

38,277

6,509

(14)

107

(14)

31,7688,719

(14)

5,127-1,345

(14)

-22,472

9816111

-6,1036391

European Communities (10) x 1

1981

83,779

51,3661,889

2,0101,0723,184

2,687492795

77

8,98010,259

968

31

75,629

-41,4245,338

-2,4292,531

-3,052

375—205

724-283

-4,735-8,228-6,304

-31

299

-23-500

823

-24,658

-1,707(*)

1708

15-414

481-52

-22,965-3,257

-7161,848

-20,841

12,879

I „-188

\ (15)

13,087(15)

4,866213

15 -5,098

3,329

9,9428,1508,4738,450

1982

78,815

46,9051,946

1,9061,0512,985

2,680503892

79

6,72512,200

945

64

-76,387

42,349-6,142

2,711-2,558-2,738

-81— 186-754-323

-3,5729,488

-5,485

-64

203

-14532748

38,013

1,286

1,286

409-133

50932

39,708258

2,739605

37,831

32,384

(15)

49

(15)

10,430(15)

5,623-163

15 16,544

2,998

4,5562,4292,6452,632

1983

73,135

43,3321,989

1,666927

3,050

2,936532

1,023135

5,89511,086

564

13

-79,080

43,739-6,396

-3,133-3,013-2,851

-171-178-703

349

4,589-8,331-5,626

-13

246

17-517

779

-7,724

675

675

252-239

45139

-8,650-1,459-5,518-1,724

50

30,819

(15)

30

(15)

7,733(15)

3,094-992

15 20,955

-17,397

407-5,945

5682-5,699

United Kingdom

1981

28,356

12,483368

634474779

79811926445

5,4116,878

103

-24,757

-12,746-827

-952-1,001

-858

213

-373-54

-1,103-5,350

1,182

259

-64323

-17,386

(*)(*)

(*)

132-49174

7

-17,518-1,989

1421,423

-17,094

9,960

(15)

-100

(15)

3,837(15)

2,877-162

15 3,508

3,568

-2633,6003,8593,859

1982

25,678

10,694375

547472752

819122344

46

3,0618,352

95

(*)

-26,742

-13,046896

-895-862-737

-20-94424-55

-1,8836,497

-1,334

(*)

224

-71295

28,152

202-29237-7

28,354261

1,618-399

-26,076

27,775

(15)

42

(15)

5,298(15)

3,285-311

15 19,461

1,218

-2,352-1,064

-841-841

1983

24,027

10,384532

466431701

76812441751

2,6287,435

90

(*)

-25,266

-12,392-904

1,061-1,072

735

-36Qft

-313-68

2,456-5,904-1,235

(*)

246

-73320

-2,630

12584

2036

-2,754-797

-3,676-1,797

3,516

19,950

(15)

36

(15)

3,988(15)

2,211-654

15 14,441

-15,327

-2,008-2,239-1,993- 1,993



Transactions, by Areaof dollars]

European Communities (6) 12

1981

50,524

36,2611,189

1,267538

1,767

1,73636146931

2,8663,253787

1

-47,128

-26,985-3,927

-1,1571,286

-1,517

-160-105-322-194

3611-2,7745091

1

242

-23-342607

-6,397

-1,708

1,708

-120-213135-43

-4,570-849581441

-3,580

3,137

) ,.,_«J (15)

9,170(15)

1,947378

15 -8,326

-377

9,2763,3963,6613,638

1982

48,401

33,7921,231

1,249517

1,684

1,68735547830

2,9423,659778

-1

-45,763

-27,607-4,454

-1,5191,441

-1,435

72-91-289-233

1655-2,897-4,069

1

176

14-359549

-9,130

1,286

1,286

129-1911632

-10,544807

-1,149943

-11,145

4,206

(15)

-37

(15)

5,068(15)

2,320170

15 -3,314

2,109

6,1852,6382,8282,815

1983

44,389

30,7321,151

1,106437

1,797

1,98038253976

2,3973,391401

-1

-48,770

-29,486-4,901

-1,690-1,664-1,529

148-86-342-237

-2,102-2,349-4,236

1

176

17-339532

-3,354

675

675

96-2210414

-4,12571

-1,561160

-2,795

9,786

(15)

62

(15)

3,636(15)

834-347

15 5,602

-2,227

1,246-4,382-4,189-4,205

Eastern Europe

1981

5,273

4,440

158

28744

445124

-1,817

-1,553-2

-57-28-109

-2-10-31

-231

-115

-1-23-91

-1,056

-182-473344-53

-874

-40

-834

69

(15)

(*)

(15)

(15)

-24

15 67

-2,355

2,8873,4563,3423,341

1982

4,377

3,749

134

21754

35241

-1,285

-1,067-3

-47

-86

-1-13-37

-31

-64

-47 '58

-75

67

-364-2455

-394

431

I20

412

67

(15)

(*)

(15)

(15)

(*)-11

15 78

-3,162

2,6823,0923,0753,028

1983

3,561

2,918

243

18907

24441

-1,661

-1,371-1

-73

-136

(*)-15-42

-22(*)

-144

-36-24-84

130

-242-4564

-261

373

140

332

51

(15)

(*)

(15)

(15)

(*)20

15 31

-1,938

1,5471,9011,7931,757

Canada

1981

61,492

46,016117

2,672

833

9726954819

4,2535,963

29

-54,120

-48,258-134

-2,070

-628

-291-13-330-48

140-2,009-198

-198

-22022

-8,982

-52-107

60-5

-8,930757

-3,697-1,638

-4,352

3,934

795

f (14)

-46

| (14)

3,1391,772(14)

1,034356

(14)

-2,126

-2,2427,3727,1747,174

1982

53,877

39,203102

2,624

820

9626660640

2,8796,541

34

-53,561

-48,526-173

-1,936

-580

-269-10-328-82

436-1,807

286

-218

-23719

-1,506

-131-156

65-40

-1,3761,616

-2,3622,612

-3,241

1,261

-317

(14)

17

(14)

1,578-1,025

(14)

246330

(14)

147

-9,3233169898

1983

61,376

43,813142

3,168

843

9915564450

5,1576,471

41

-60,672

-54,359-237

-2,160

-667

-358-10-352-117

-296-1,751

366

-153

-24593

-7,686

-76-164

6721

-7,611-1,413-1,582-1,651

-2,965

6,147

351

(14)

-16

(14)

5,796118(14)

1,274403

(14)

988

-10,546704551551

Latin American Republics andOther Western Hemisphere

1981

80,024

42,80457

5,517600

1,704

671131

1,43766

6,14320,507

388

23

-58,679

-39,099-352

-4,522-353

-1,653

-46-10

-1,393-296

-852-9,808

296

23

-1,246

-384-250-612

-45,150

-512-1,6521,173-33

-44,638197-83-516

-44,236

32,501

f (15)

87

I (15)

1,620(15)

97190

15 30,507

-7,450

3,70521,34520,48320,100

1982

71,412

33,152181

4,892595

1,668

590110

1,25960

2,70625,698

502

75

-62,053

-38,559-312

-5,053-398

-1,631

28-10

-1,711-338

-203-13,559-250

75

-1,338

-516-278-545

-46,541

2093

-2,093

-1,480-2,7731,297-3

-42,9686,500

922,247

-51,808

31,056

(15)

240

(15)

1,542(15)

460-547

15 29,360

7,465

-5,4079,3608,5378,021

1983

57,196

25,581251

3,726594

1,631

514100

1,17279

69022,228

632

55

-63,852

-41,867-314

-5,517-469

-1,774

61-10

-1,690-333

-285-11,393-261

55

-1,507

-652-297-558

-10,373

2,083

2,083

-234-2,0701,811

25

-12,2223,066658

-2,207

-13,740

27,058

(15)

82

(15)

378(15)

674102

15 25,821

-8,522

-16,286-6,656-7,510-8,163

Japan

1981

32,327

21,796370

949513

1,844

36342317115

9394,765179

-1

-46,180

-37,598-1,092

-214-1892,122

89-37-89-60

-725-1,045-3,099

1

-70

-14-56

-5,009

-82

-82

-69-141

72-1

-4,858-488

17-368

-4,019

9,298

(15)

38

(15)

2,938(15)

292437

15 5,592

9,634

-15,802-13,854-13,923-13,923

1982

30,751

20,694479

1,084618

1,950

30347520814

6504,098177

-1

-46,138

-37,685-1,359

-272-219

-2,084

170-31-133-58

-387-1,260-2,820

1

-90

-8-82

-2,497

-192

-192

84-16991

-2,3892

-1,107307

-1,591

-1,992

(15)

-172

(15)

1,918(15)

292

15 -3,768

19,967

-16,991-15,388-15,478-15,478

1983

31,427

21,677421

1,128700

1,876

38750024619

1,1933,087192

-1

-49,710

-41,307-1,312

-302237

-2,101

154-38-114-48

-1,065-1,096-2,243

1

-48

1-49

-3,547

98

98

16-76911

-3,662-1,050-539-137

-1,936

7,225

(15)

-148

1,706(15)

956347

15 4,364

14,654

-19,630-18,283-18,332-18,332

Australia, New Zealand,and South Africa

1981

13,593

8,998369

351216447

377792643

1,91455818

-7,019

-5,610-43

-351-224-410

-8-3-29-38

38-107-159

-59

(*)-14-45

-2,127

-79-9733

-15

-2,048956-36-55

-1,001

290

(15)

-286

266(15)

-4663

15 293

-4,678

3,3886,5746,5156,515

1982

10,918

7,656134

399216403

350902265

75266523

-6,630

-5,033-42

-379-256-371

-2-3-41-46

-1-127-330

-62

(*)•-16

: -46

-1,279

-43-6345

-25

-1,136395

-37946

-1,298

5,123

(15)

132

144(15)

13478

15 4,634

-8,070

2,6234,2884,2264,226

1983

9,977

6,584388

388231416

379702338

56568431

-7,295

-5,317-44

-518-292-398

-3-6-44-50

-42-105-476

-58

(*)-17-41

-1,573

-14-120

6047

-1,560-175-111

58

-1,332

2,508

(15)

145

185(15)

4661

15 2,070

-3,558

1,2672,6822,6242,624

Line

1

23

456

78910

111213

14

15

1617

181920

21222324

252627

28

29

303132

33

3435363738

39404142

43444546

47

48

(4915015115253

{5455

5657585960

61

62

63

64656667



Line

1

23

456

789

10

111213

14

15

1617

181920

21222324

252627

28

29

303132

33

3435363738

39404142

43444546

47

48

49505152535455

5657585960

61

62

63

64656667


Merchandise, adjusted, excluding military3

Transfers under U.S. military agency sales contracts


Fees and royalties from affiliated foreignersFees and royalties from unaffiliated foreignersOther private servicesU.S. Government miscellaneous services ..







Fees and royalties to affiliated foreignersFees and royalties to unaffiliated foreignersPrivate payments for other servicesU.S Government payments for miscellaneous services

Payments of income on foreign assets in the United States:Direct investmentOther private paymentsU.S. Government payments





U.S. official reserve assets, net4

GoldSpecial drawing rightsReserve position in the International Monetary FundForeign currencies ,

U.S. Government assets, other than official reserve assets, netU.S. loans and other long-term assetsRepayments on U.S. loans5


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

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


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

U.S. Treasury securities6

Other7

Other U.S. Government liabilities8. ...U.S. liabilities reported by U.S. banks, not included elsewhere..Other foreign official assets9

Other foreign assets in the United StatesDirect investmentU.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 :


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 16)Balance on goods and services (lines 1 and 15)10

Balance on goods, services, and remittances (lines 65, 31 and 32)Balance on current account (lines 65 and 29) 10

Other countries in Asia andAfrica

1981

73,923

47,8356,366

875485

2,603

662158

1,404216

6,5015,2281,591

538

-95,730

-80,0953264

1,142287

-2,084

356-3

-240-486

-155-3,575-4,755

-538

-4,278

-3,119299860

-12,754

-3,31751661,584

264

9 4363 190

268-259

-5,720

-18,164

J (15)

' -4

\ (15)

2,741(15)

365-1,028

15 16,090

20,675

32260-21,807

22966-26,085

1982

75,181

46,9788,449

918439

2,765

583209

2,142210

5,5575,0981,834

267

-81,825

-63,8663224

1,294330

-2,133

387_7

-320-555

-2303588

-6,666

-267

-5,107

-3,731315

-1,060

-17,176

-3,725-5,373

1,56485

-13,451-2,710

-780475

-10,436

12,899

(15)

227

(15)

907(15)

262-1,863

15 13,366

16,027

16888-6,644-8,019

-11,750

1983

72,278

44,7428,532

841373

3,280

764220

1,767243

4,4754,7512,291

91

-80,546

-63,1953302

1,416-373

-2,389

252-5420

-589

24-3,045-6,086

-91

-5,820

-4,454324

-1,042

-10,121

-3,32852501,841

81

-6,792-1,556

-37847

-4,905

-1,301

,{19,,{

193(15)

430-1,059

15 -846

25,509

18453-8,268-9,634

-14,088

Internationalorganizations and

unallocated13

1981

3,023

885

937

-253

89376

961403-87

-2,729

-62-1,419

54-478

-105-611

-777

-766

-11

-6,733

-4,314

1,8242491

-826-831

5

-1,593-667-966

40

1,647

18

18

1,629

(15)

63-25

15 1,592

1,093

4,475

88294283

-483

1982

3,233

6588

783

-208

94595

738600126

-3,002

-23

62-1,159

80-643

261-774

-675

-656

20

-5,998

-3,924

1,3712552

-764-790

27

-1,310-264-992

-54

1,059

-24

-24

1,082

(15)

6976

15 937

5,383

42231211

-444

1983

3,863

65(*)

638

-76

1,05266

749809560

-2,744

65-1,000

88-502

-330-759

-641

-630

11

-6,905

-4,500

664434

-1,031-1,036

5

-1,374-530-666

(*)

-178

1,757

47

47

1,711

(15)

106153

15 1,452

4,670

651,1191,108

478

Western Europe

1983

I

23,556

14,948797

442246947

77715230935

1,4643,180

260

15

-22,286

-12,587-1,763

-321786

-902

-52-52

-226-129

-918-2,722-1,829

-15

9

-28-164

201

4,412

318

318

-6334025918

-4,668-319

-1,136-1,300

-1,914

5,135

290

1 (14)

21

} (14)

4,8442,089

(14)

2,384-499

(14)

-2,002

2,3611,2701,3071,279

II

23,345

13,674752

538287896

834153309

52

2,3593,225

266

7

-25,352

-13,767-1,788

-1,235-1,402

-879

-70-53

-219-130

1315-2,712-1,782

-7

-51

-39-176

164

2,255

406

406

-16634823048

2,015-6181 873-429

4,935

8,927

2,306

(14)

143

(14)

6,6212,359

(14)

1,814321

(14)

-9,124

93-2,007

2019-2,058

III

21,760

12,348796

715370

1,029

75215532937

1,7373,279

214

25

-25,770

-13,758-1,746

-1,719-1,058-1,033

-62-53

-217-130

1275-2,843

1877

-25

-74

-93-165

184

-6,138

167

167

3-228

2228

-6,3071 984-840

707

4,190

9,481

182

(14)

7

(14)

9,2992,595

(14)

943-873

(14)

741

1 410-4,011

3 992-4,085

IV

23,863

13,907659

462236

1,004

95215632235

2,3693,457

305

14

-25,226

-13,784-1,716

-716-850

-1,043

-92-54

-224124

-1,561-3,083

1,978

-14

-165

-128-167

131

-1,119

231

231

123-254

32057

-1,473-303

-1,210461

502

14,735

3,731

(14)

-64

(14)

11,0041,676

(14)

-15-294

(14)

-12,089

123-1,363-1,399-1,527

1984

I"

26,048

1.4,900774

436 '251

1,024

78615732624

3,6423,535

193

9

-29,320

-17,673-1,654

-438-953

-1,121

-113-53

-280-126

-1,645-3,211-2,053

-9

-70

-47-178

155

-4,646

-208

-208

-171-376

209-4

-4,267- 2067

-662n.a.

- 1539

7,412

120

(14)

87

(14)

7,2921,282

(14)

472n.a.

(14)

576

-2,7733 272

-3,295-3,342



Transactions, by Area—Continuedof dollars]

European Communities(lO) l *

1983

I

18,365

11,549582

342205752

70413124729

9802,688158

1

-17,651

-10,070-1,630

-239-564-673

-30-45-179-85

-7481,967

-1,422

1

93

-2-127222

-6,147

61

-61

45-10412425

-6,131146

-1,102-1,464

-3,710

4,883

) „-13

1,967(15)

1,678-366

15 1,617

457

1,479714809807

II

18,750

10,872508

406240698

73813324945

1,9912,730142

1

-20,141

-11,046-1,587

-984-1,015-642

-43-44-175-102

-1,166-1,978-1,354

1

51

-3-133187

-3,179

-375

-375

222788

-39

2,782-689

-1,548-570

5,589

6,339

(15)

53

(15)

1,963(15)

625388

15 3,311

-8,177

-174-1,391-1,337-1,340

III

17,308

9,906541

565293817

66513426731

1,2032,776112

9

-20,893

-11,369-1,596

-1,333-755-773

-46-45-174-96

-1,217-2,091-1,399

_9

74

-6-128208

-5,253

-175

-175

71—167413

-5,500-1,786-1,046

635

-3,303

9,623

(15)

-43

(15)

2,226(15)

637-631

15 7,434

-859

-1,463-3,585-3,504-3,510

IV

18,712

11,005359

353189783

83113526031

1,7212,892153

2

-20,395

-11,254-1,583

-577-679-763

-47-45-175-67

-1,458-2,296-1,451

— 2

28

-6-129163

-498

-186

-186

113—9216541

198871

-1,821-325

-1,474

9,974

(15)

32

(15)

1,577(15)

155-383

15 8,593

-8,817

-249-1,683-1,650-1,655

1984

IP

20,765

11,952458

317201776

69313425717

2,9052,950104

2

-23,284

-14,232-1,529

-314-680-799

-87-46-178-89

-1,404-2,446-1,479

—2

41

—6-133179

-4,042

205

-205

14-6381-4

-3,851-1,462-985n.a.

-1,404

8,810

(15)

29

(15)

1,284(15)

253n.a.

15 7)244

-2,289

-2,280-2,519-2,472-2,478

United Kingdom

1983

I

5,403

2,671179

10191180

2113110212

11,818

7

-5,678

-2,668-233

-78-203-182

-8-23-87-15

-494-1,385-303

71

-1889

-3,761

-243373

-3,758392

-695-1,394

-2,061

2,478

(15)

-19

(15)

1,360(15)

993-34015 484

1,487

3-275-205-205

II

6,673

2,656123

120127151

2133110125

1,2951,822

10

(*)

-6,734

-3,160-220

-297-376-152

-6-22-78-28

-736-1,366-293

(*)

55

-1873

-2,326

22

27-5

2,304-1,104-659-612

4,679

5,537

(15)

-25

(15)

686(15)

551208

15 4,117

-7,857

-504-61-6-6

III

5,914

2,407129

148129181

1803111311

6981,880

8

-7,194

-3,534-215

-458-269-199

-9-22-74-15

-578-1,517-304

75

-1893

-5,041

18

171

-5,058-1,487-1,032

498

-3,037

6,072

(15)

-6

(15)

1,050(15)

481296

15 4,843

174

-1,127-1,280-1,205-1,205

IV

6,037

2,650101

9784189

165311023

6341,91566

(*)

-6,660

-3,030-235

-228-224-202

-14-23-75-9

-649-1,636-335

(*)

46

-1965

-3,845

87—421226

3,7581,402

-1,290-289

3,935

5,862

(15)

13

(15)

893(15)

185-226

15 4,997

-9,130

-380-623-577-577

1984

IP

6,719

2,932132

110100185

238311057

9501,921

8

-7,173

-3,493-242

-107-253-200

-38-23-80-10

-592-1,789-347

67

-1986

-3,116

-14-2818-4

-3,102-690-652n.a.

-1,760

4,573

(15)

-6

(15)

214(15)

36n.a.

15 4,330

-1,070

-561-454-387-387

European Communities(6) 12

1983

I

11,781

8,306316

220104429

4549312813

771820127

-11,070

-6,973-1,237

-142-290-343

-26-22-81-56

-251-564

-1,087

68

—2-83153

-1,358

—61

-61

28— 182818

-1,32550

-413-30

-932

1,980

(15)

-21

(15)

615(15)

666-50

15 770

-1,400

1,333710780778

II

10,928

7,675297

261101423

4819513219

492836117

(*)

-12,392

-7,404-1,236

-547-583-362

-46-22-85-66

-425-592

-1,025

(*)

44

3-89137

890

375

375

-6

33-37

522380

-64811

779

644

(15)

98

(15)

1,276(15)

64196

-990

-115

271-1,464-1,416-1,419

III

10,224

6,945322

394152488

4419713817

30684084

— 1

-12,613

-7,417-1,214

-704-415-413

-40-22-88-68

-626-553

-1,053

1

46

-6-83135

-183

175

175

241169

-382-187

31159

-385

3,281

(15)

-12

(15)

1,159(15)

143-336

15 2,236

-755

-472-2,389-2,338-2,343

IV

11,456

7,806215

23180456

6049714228

82889773

-12,696

-7,692-1,214

-297-376-411

-36-22-88-48

-801-640

-1,071

19

-6-84108

-2,703

186

186

5112725

-2,940-172-530

20

-2,257

3,882

(15)

-3

(15)

586(15)

-40-157

15 3,496

42

114-1,240-1,216-1,221

1984

IP

12,865

8,458289

18590437

402971358

1,75093777

(*)

-15,059

-10,139-1,198

-187-352-423

-46-22-86-70

-812-636

-1,089

(*)

16

-6-91113

-577

205

-205

16

17(*)

-388-640-356n.a.

608

4,289

(15)

14

(15)

1,012(15)

227n.a.

15 3,036

-1,534

-1,681-2,194-2,172-2,178

Line

1

23

456

78910

111213

14

15

1617

181920

21222324

252627

28

29

303132

33

3435363738

39404142

43444546

47

48

(49J50I5115253

(5455

5657585960

61

62

63

64656667


Table 10.—U.S. international[Millions

Line

1

23

456

789

10

111213

14

15

1617

181920

21222324

252627

28

29

303132

33

3435363738

39404142

4344454647

48

49505152535455

5657585960

61

62

63

64656667

(Credits +; debits -)1



Transfers under U.S. Military agency sales contracts


Fees and royalties from affiliated foreignersFees and royalties from unaffiliated foreignersOther private services ....U.S. Government miscellaneous services

Receipts of income on U.S. assets abroad:Direct investmentOther private receiptsU.S. Government receipts .

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






Payments of income on foreign assets in the United States:Direct investmentOther private paymentsU.S. Government payments..


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


U.S. assets abroad, net (increased/captial outflow ( — ))

U.S. official reserve assets,net 4GoldSpecial drawing rightsReserve position in the International Monetary FundForeign currencies


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

U.S. private assets, net..Direct investmentForeign securitiesU.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns...U.S. claims reported by U S banks not included elsewhere




Other 7

Other U.S. Government liabilities 8 .U.S. liabilities reported by U.S. banks, not included elsewhereOther foreign official assets 9

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 con-

cerns.U.S. liabilities reported by U.S. banks, not included elsewhere ,


Statistical discrepancy, and transfers of funds between foreign areas, net (sumof above items with sign reversed).


Balance on goods, services, and remittances (lines 65, 31, and 32)Balance on current account (lines 65 and 29) 10

Eastern Europe

1983

I

950

806

49

5222

644

344

292(*)

-4

-30

(*)

9

-5

-30

-8-6

-16

143

173

3-176

30

(*)26

4

-229

1 (15)

4

\ (15)

(15)

(*)-10

15-223

-204

514606584576

II

787

618

55

4234

6320

394

-308(*)

-30

33

(*)-414

-5(*)

39

-12-621

-33

-33453523

-1

-144

121

(15)

-4

(15)

(15)

(*)4

15 121

-442

310393366354

III

553

396

65

4231

595

494

-412(*)

-32

33

-4_fj

-6

-38

9-622

253

-46(*)8

54

299

23

294

35

(15)

-1

(15)

(15)

15

15 21

-310

-16593122

IV

1,271

1,098

74

4221

5912

429

-359(*)

-7

40

-412

-7

-37

_7-6

-24

54

9

19-10

45

-17

38

123

(15)

(*)

(15)

(15)

(*)11

is 112

-982

739842812805

1984

lp

1,130

968

73

5212

583

553

480-1

-5

46

(*)-410

-7

-35

-7-9

-20

-72

154

10-163

82

(*)n.a.

82

-3

(15)

1

(15)

(15)

1

n.a.15-3

-468

488577549542

Canada

1983

I

13,942

9,88228

844

189

24315

16411

9491,610

7

13,577

-12,513-34

-216

128

-84-3

-8526

-31-377

80

-45

-6216

4,262

51-52

9-8

4211-85

-440-3373 349

2,797

801

\ (14)

-2

) (14)

1,996-327

(14)

343-170

(14)

1,145

-2,631365319319

II

16,108

11,67037

858

209

25914

16034

1,3281,529

11

-15,628

13998-69

-528

-182

104-3

-85-73

-75-425

87

-42

-6119

-2,696

28-16

2420

-2,724536725

-334-1,129

2,354

52

(14)

6

(14)

2,406204(14)

30872

(14)

-96

-2,328480438438

III

15,146

10,52636

864

203

24914

1583

1,3581,724

11

-14,996

-12,807-66

-1,103

-168

-89-389-8

-76490-98

26

-6135

-1,258

-566581

-1,202884

-397-147

226

483

-116

(14)

-6

(14)

599231(14)

27219

(14)

653

-2,281149123123

IV

16,180

11,73541

602

242

24014

1623

1,5221,608

12

-16,470

-15,041-68

-313

-190

-81-393-9

-114458

-102

-39

-6223

530

330258

52693

-20-8331,287

514

282

(14)

-14

(14)

7959

(14)

352482

(14)

-714

-3,306-290

329-329

1984

IP

17,699

12,96725

930

193

27814

1642

1,4491,664

13

-18,059

-16,69243

269

-122

-88-3

-111-7

110-522-94

-35

-5924

2,897

3-914-2

-2,899-1,342

-60n.a.

-1,497

1,709

-497

(14)

2

(14)

2,207116(14)

673n.a.

(14)

1,583

-3,725361

-396-396



Transactions, by Area—Continuedof dollars]

Latin American Republics and Other Western Hemisphere

1983

I

13,821

6,19829

862144392

1102529216

1555,372226

7

-14,687

-9,461-58

-1,406-114-403

-4-3

-421-77

-58-2,613-68

_7

-326

-128-73-126

-9,267

1,168

1,168

260-37460331

-10,6951,295386

-1,618-10,759

6,890

} „,60

I (15)

98(15)

10825

15 6,599

3,569

-3,263-866

-1,064-1,192

II

13,560

6,15536

939157440

1182529323

-2085,428154

14

-16,086

-10,771-50

-1,362-131-447

23-2

-426-80

-81-2,692-68

— 14

-347

141-74-131

3,236

160

160

10-48148011

3,0651,246265457

1,097

-203

(15)

17

(15)

-135(15)

248-208

15 -125

-160

-4,616-2,526-2,732-2,873

III

15,147

6,76756

1,090184422

1292528526

3685,623173

5

-16,257

-10,538-81

-1,464-146-487

24-2

-412-97

-30-2,959-65

5

-417

-186-74-157

3,540

765

765

-136—661536-10

2,9116047

-7113,516

6,529

(15)

29

(15)

337(15)

6753

15 6,043

-8,543

-3,771-1,110-1,341-1,527

IV

14,668

6,461130

835109377

1562530214

3755,805

79

29

-16,822

-11,097-125

-1,285-78-438

17-2

-430-79

-116-3,130-60

-29

-417

-198-76-144

-7,882

10

-10

-369-555192-6

-7,504465-40-335

-7,594

13,842

(15)

-24

(15)

78(15)

251232

15 13,304

-3,388

-4,636-2,154-2,373-2,571

1984

IP

15,086

6,88062

790143394

1032632518

4015,86976

g

-18,690

-12,402-128

-1,533-126-468

-5-3

-438-74

-99-3,345-70

— 8

-386

— 180-70-136

1,174

10

10

-411—486185

-110

1,575468341n.a.766

2,734

(15)

-43

(15)

54(15)

194n.a.

15 2,530

81

-5,522-3,603-3,810-3,989

Japan

1983

I

7,052

4,728101

293158401

96123606

29174153

(*)

-11,095

-9,294-306

-42-43-440

57-9-30-22

-199-241-526

(*)

-2

7-9

-891

—37

37

21—828(*)

-874-172-226-148-329

1,425

(15)

-138

(15)

316

-78143

15 1,182

3,510

-4,566-4,043-4,045-4,045

II

7,586

5,208118

257232469

105124625

24771643

-11,865

-9,822-309

-98-81-523

38-9-28-7

-208-275-543

-8

1-9

185

— 35

35

-163318(*)

236-209-553111887

2,150

(15)

108

(15)

695(15)

88190

15 1,069

1,953

-4,614-4,279-4,287-4,287

III

8,046

5,597129

348135498

88126633

19081851j

-12,469

-10,172-332

-89-73-561

33-10-27-10

-371-284-572

I

-12

-2-10

-1,276

-106

106

62328(*)

-1,176-205

36-57-950

1,721

(15)

-42

(15)

265(15)

38161

15 1,056

3,990

-4,575-4,423-4,435-4,435

IV

8,743

6,14472

230175508

98127615

46581245

-14,281

-12,019-366

-73-40-577

26-10-28-8

-287-296-602

-27

-6-21

-1,565

277

277

51217(*)

-1,847-464204-43

-1,544

1,929

(15)

-76

(15)

430(15)

565-47

15 1,057

5,201

-5,875-5,538-5,565-5,565

1984

IP

8,229

5,59179

362193517

86129585

34684618

-15,442

-12,999-354

-66-54-625

25-11-31-9

-410-307-601

-4

12-16

793

—33

33

31

33-1

795-244300n.a.739

3,232

(15)

-99

(15)

497(15)

269n.a.

15 2,566

3,192

-7,408-7,213-7,217-7,217

Australia, New Zealand, and South Africa

1983

I

2,225

1,431269

734099

9319563

-231568

-1,642

-1,134-10

-163-47-97

-1-1-11-19

-17-26-117

-15

(*)

-11

-77

129714

-893273997

-552

-1,065

(15)

-153

(15)

25(15)

96-7

15 -1,027

575

297583568568

II

2,665

1,84442

12162103

8418582

1531718

-1,745

-1,328-10

-57-78-102

-2-2-11-9

-13-26-107

-15

(*)-4-11

205

-31—672313

236-216261-33224

648

(15)

98

(15)

41(15)

-5215 562

-1,759

516920905905

III

2,578

1,65342

131.63111

9617592

2311685

-1,782

-1,287-15

-107-101-107

1-2-11-12

-3-26-112

-14

(*)-4-9

-1,129

-16-38

517

-1,113-247-404-15-447

156

(15)

102

(15)

20(15)

-4552

15 28

191

366796782782

IV

2,510

1,65634

6366103

10717601

20418910

-2,126

-1,568-9

-191-66-92

-1-1-11-10

-9-27-140

-15

(*)-4-10

-572

226252

-594-39-79

-557

2,769

(15)

99

(15)

99(15)

-468

15 2,507

-2,565

88383369369

1984

IP

3,023

1,94959

8445108

9318631

3762225

-1,855

-1,259-9

-218-59-100

-1-1-11-6

3-30-163

-22

(*)-6-16

-445

1-23

(*)

-447-211-36n.a.-200

-612

(15)

93

(15)

-11(15)

-21n.a.

15-673

-89

6901,1681,1471,146

Line

1

23

456

78910

111213

14

15

1617

181920

21222324

252627

28

29

303132

33

3435363738

39404142

4344454647

48

{4950515253

!

5455

5657585960

61

62

63

64656667


Table 10.—U.S. International Transactions, by Area—Continued[Millions of dollars]

Line

1

23

456

789

10

111213

14

15

1617

181920

21222324

252627

28

29

303132

33

3435363738

39404142

4344454647

48

49505152535455

5657585960

61

62

63

64656667

(Credits +; debits -) l




Fees and royalities from affiliated foreigners

Other private servicesU S Government miscellaneous services

Receipts of income on U.S. assets aboard:Direct investmentOther private receipts ....U S Government receipts

Imports of goods and services .

D' pet dpfp <?P P DP rTtureq

TravelPassenger faresOther transportation ... ..

Fees and royalties to unaffiliated foreignersPrivate payments for other services ,U.S. Government payments for miscellaneous services

Payments of income on foreign assets in the United States:

Other private paymentsU S Government payments

U S 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

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

U S official reserve assets net 4

GoldSpecial drawing rightsReserve position in the International Monetary Fund

U S Government assets other than official reserve assets netU.S. loans and other long-term assetsRepayments on U.S. loans 5 .

U S private assets netDirect investmentForeign securitiesU.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns..U S claims reported by U S banks not included elsewhere




Other 7



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 (sumof above items with sign reversed).


Balance on goods services and remittances (lines 65 31 and 32)Balance on current account (lines 65 and 29) 10

Other countries in Asia and Africa

1983

I

18,466

11,3322,573

20865

813

15955

47449

1,1051,128

505

20

-17,413

-13,257-837

-23161

—549

401

-96-139

7-716

-1,557

-20

-1,024

-696-84

-243

-3,293

881-1,236

31343

-2,4121409

10781

-977

200

J (15)

353

1 (15)

103(15)

107-1,853

15 1,796

3,463

19251,053

72529

II

17,994

11,1352,099

19188

784

22455

43977

1,2571,131

515

10

-18,500

-14,164805

-391-91

-568

871

-103-156

g-747

-1,552

-10

-1,156

-830-79246

-2,966

-888-1,278

399-10

-2,07894

-195-5

-1,972

-2,630

(15)

98

(15)

164(15)

166-429

15 -2,628

7,258

3029-506

831-1,662

III

18,409

11,0251,970

314141842

16955

42864

1,3991,228

775

20

-22,466

-18,004-843

395-116-639

561

-108150

2-7621506

-20

-1,350

-1,001-81

-269

-2,368

-748-1,503

67977

-1,620381-67-14

-1,158

1,214

(15)

28

(15)

-126(15)

1051,944

15-737

6,561

6979-4,057

4407-5,407

IV

17,409

11,2501,890

12879

841

21356

42553

7141,264

497

41

-22,166

17770-816

-399-105-633

691

-113-144

36-8201471

-41

-2,290

-1,927-79

-284

1494

-8121233

45030

682140-10-15798

315

(15)

208

(15)

52(15)

53-721

15 723

8,228

6520-4,758-5,121-7,048

1984

I"

17,885

10,8301,601

25177

810

18257

45466

1,6121,286

659

10

21,928

-17,888-696

-333-76

-672

244-1

-118-137

35835

-1,450

-10

-1,423

-1,046-82

-296

-466

1 168-1,590

38339

703-935

242n.a.

1,395

-3,048

(15)

128

(15)

-75(15)

-3n.a.

15 3099

8,980

-7,058-4,043

4421-5,466

International organizations and unallocated 13

1983

I

862

(*)

161

-17

2522

22617068

-614

-19—238

-22-64

58-214

-115

-115

-3,209

-2,237

-98-2,139

357-360

4

-61666

-383

-299

1,135

27

27

I 1,107

(15)

4434

15 1,029

1,942

248248133

II

1,224

33(*)

184

19

26056

208208294

-612

-11—279

-22-26

-79-195

-198

-188

11

1,597

-515

-303-212

-153-153

929-347-436

-1-144

1,085

-33

-33

1,118

(15)

938

15 1,089

98

33612602414

III

784

132

-21

2676

13019673

566

-17-224

-22-26

-90-187

-189

-189

-713

298

-209-88

-236-237

1

-180-72

531

162

-41

21

21

-61

(15)

13940

15-240

725

218218

28

IV

992

32

160

-20

2731

186235125

-951

-18—260

-23—385

-103-163

-138

-138

-1,386

-1,451

5451,996

-286-286

351-177

101

427

-422

32

32

454

(15)

-6941

15-426

1,905

324141

-97

1984

IP

1,125

('*')

157

-6

3182

201230223

-612

-19—252

24—59

-86-174

-151

-151

-590

-426

-226-200

-222225

3

5719

118n.a.-80

379

21

2:

358

(15)

-35n.a.

15 393

-151

513513362

See footnote on page 63.

Table Wa.—International transactions, by Selected Countries (published annually) is on page 64 of this issue.


able data from BEA's survey of estab-lishments and acquisitions of newU.S. affiliates (the BE-13), however,indicate that, because of the largenumber of transactions involved,these inflows, although small for anygiven affiliate, were large in totalduring 1981-83. Therefore, quarterlyestimates of these unreported inflowswere made utilizing BE-13 data ontotal outlays to establish or acquirenew U.S. affiliates.

Such outlays would constitutedirect investment capital inflows, andshould be included in the U.S. inter-national transactions accounts, if theywere made directly by foreign par-ents. (If, instead, they were made indi-rectly through the parents' existingU.S. affiliates, and the funds camefrom abroad, they would constitutecapital inflows, but the inflows prob-ably would have been reported in theexisting U.S. affiliate's quarterly

report.) The BE-13 survey indicatesthat direct outlays by foreign parentsto establish or acquire U.S. affiliatesthat did not report in the quarterlysample survey were $977 million in1981, $663 million in 1982, and $314million in 1983. These data wereadded to reported direct investmentcapital inflows for the 3 years; for anygiven affiliate, the data were includedin inflows in the quarter in which theacquisition or establishment occurred.

Footnotes to U.S. International Transactions Tables l-10a—Continued

Table 8—Continued4. 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. U.S. Treasury notes denominated in foreign currencies and subject to restricted transferabil-

ity, that were sold through foreign central banks to domestic residents in country of placement.None of these notes were outstanding after July 1983.

5. Mainly International Bank for Reconstruction and Development (IBRD), International Devel-opment Association (IDA), International Finance Corporation (IFC), Asian Development Bank(ADB), Inter-American Development Bank (IDS), and the Trust Fund of the International Mone-tary Fund.

6. 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 majority-owned bank subsidiaries in the United

7. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.8. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.9. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting

countries.

10. Includes Eastern Europe and international and regional organizations.

Table lOa:For footnotes 1-10 , see table 1.11. Details not shown separately are included in line 61.NOTE.—Country data are based on information available from U.S. reporting sources. In some

instances the statistics may not necessarily reflect the ultimate foreign transactor. For instance:U.S. export statistics reflect country of reported destination; in many cases the exports may betransshipped to third countries (especially true for the Netherlands and Germany). The geograph-ic breakdown of security transactions reflects country with which transaction occurred but maynot necessarily reflect the ultimate sources of foreign funds or ultimate destination of U.S. funds.Data for individual countries within EC(6) may not add to the published totals for EC(6) since inseveral instances the transactions are regional and in other instances estimates for the group arenot available for each country. In addition, country data may not add to EC(6) totals because ofrounding.

Table 10:For footnotes 1-10, see table 1.11. The "European Communities (10)" includes the "European Communities (6)," United King-

dom, Denmark, Ireland, and Greece.12. The "European Communities (6)" includes Belgium, France, Germany, Italy, Luxembourg,

the Netherlands, the European Atomic Energy Community, the European Coal and Steel Com-munity and the European Investment Bank.

13. Includes transactions with U.S. affiliated shipping companies operating under the flags ofHonduras, Liberia, and Panama, and U.S. affiliated multinational trading companies finance, andinsurance companies, not designated by country.

14. Details not shown separately; see totals in lines 49 and 56.15. Details not shown separately are included in line 61.

The International Investment Positionof the United States in 1983

By RUSSELL B. SCROLL

JL HE net international investmentposition of the United States declined$43.6 billion to $106.0 billion in 1983.The last decline was in 1977. A shiftto net capital inflows, mainly thosereported by U.S. banks, accounted formost of the 1983 decline. Net valu-ation changes largely reflected priceappreciation of U.S. stocks held byforeigners, which more than offsetprice appreciation of foreign stocksheld in U.S. portfolios and otherchanges (table I).1

The decline in the net investmentposition of the United States in 1983,as in 1977, partly reflected muchstronger expansion in economic activi-ty in the United States than in otherleading countries. Both the U.S. mer-chandise trade and current-accountdeficits increased sharply, from $36.5billion and $9.2 billion in 1982, to$61.1 billion and to $41.6 billion in1983, respectively. Net recorded cap-ital inflows to offset the current-ac-count deficit occurred in 1983 as theUnited States curtailed its lendingand stepped up its borrowing abroad.High nominal and real U.S. interestrates facilitated the adjustment, espe-cially in the second half of the year,when a rise in U.S. rates added to theforeign demand for dollar assets. Inaddition, the dollar appreciated forthe third consecutive year in ex-change markets, rising 11 percent ona trade-weighted basis against 10major currencies.

The large statistical discrepancy inthe U.S. international transactions ac-counts for 1979-83 suggests possibleoverstatement of the net investmentposition, assuming that a significantpart of that discrepancy was unre-

1. Detailed discussions and data on U.S. direct in-vestment abroad and foreign direct investment in theUnited States, and additional data on the investmentposition, will appear in the SURVEY OF CURRENT Busi-

corded net capital inflows. Thus, thenet U.S. investment position shouldbe interpreted with caution.

Changes in U.S. Assets Abroad

Bank claims

The most significant change in thenet investment position in 1983 wasrelated to the shift of U.S. banks tobeing net borrowers of funds in inter-national markets from having beennet suppliers of funds in 1980-82. Inaddition to the significant dropoff inclaims, which is discussed in this sec-tion, there was a large increase in li-abilities to foreigners related to the fi-nancing of the strong U.S. economicexpansion (see the section on changesin foreign assets in the UnitedStates).

Claims on foreigners reported byU.S. banks increased moderately,$25.4 billion, to $430.0 billion in 1983(line 19). Claims had increased $111.1billion in 1982, which included theinitial establishment of InternationalBanking Facilities (IBFs). The inter-national demand for U.S. bank creditwas constrained in 1983 by limited ex-pansion abroad, the related decline inworld trade, and reduction in somecountries' need for balance of pay-ments financing. In addition, U.S.banks were reluctant to increase theirexposure in the Eurodollar interbankmarket and in Latin America in viewof mounting external debt problemsthat surfaced in mid-1982. Most of the1983 increase in claims was on ownforeign offices in the Caribbean; alimited amount was on public borrow-ers in Latin America as the U.S.share of International Monetary Fund(IMF) and internationally negotiatedfinancing arrangements. Mexico re-ceived $5.0 billion of the $6.3 billionincrease in U.S. bank claims on LatinAmerican Republics in 1983. At year-

end, U.S. claims on Latin AmericanRepublics amounted to $110 billion, or25 percent of U.S. banks' total claims.(These figures do not include claimsof U.S.-owned banks' overseas officeson Latin American Republics, whichamounted to $32.0 billion and de-creased $7.3 billion in 1983.)

Claims on U.S. banks' own foreignoffices increased $16.7 billion, com-pared with $30.6 billion in 1982.Claims on unaffiliated banks andother foreigners increased $14.7 bil-lion, compared with $76.4 billion.Banks' claims for domestic customers'accounts decreased $6.0 billion, com-pared with an increase of $4.0 billion,reflecting a drop in Eurodollar certifi-cates of deposit held by U.S. moneymarket mutual funds.

Foreign securities

Sharply rising foreign stock mar-kets led to record net U.S. purchasesof foreign stocks of $4.0 billion and a$4.6 billion appreciation in the valueof U.S. holdings (line 17). Exchangerate losses were $0.9 billion. At year-end, holdings totaled $26.5 billion.Net U.S. purchases of British, French,and Swedish stocks were $1.2, $0.4,and $0.4 billion, respectively; price ap-preciation added 28 percent to thevalue of holdings of European stocks.U.S. net purchases of Japanese stockswere $0.9 billion, augmented by a 12-percent price appreciation. Additionsto U.S. holdings of Canadian stocks—the largest position in U.S. portfo-lios—were limited to $0.5 billion, de-spite a 26-percent price appreciation.

Net U.S. purchases of foreign bondsdecreased $3.0 billion, to $3.7 billion,reflecting reduced new bond offeringsin the United States (line 16). Atyearend, holdings totaled $58.3 bil-lion. Lower foreign than U.S. interestrates, and attractive terms in interna-tional bond markets, were contribut-ing factors. U.S. holdings depreciated

74


$2.0 billion in value. Holdings of Ca-nadian bonds depreciated $0.7 billionand net purchases declined to $1.1 bil-lion, as Canadians placed issues ininternational and their domestic mar-kets. U.S. diversification into WesternEuropean bonds accelerated, favoringoutstanding British bonds. WorldBank issues in the United Statesslowed.

U.S. direct investment abroad andother private assets

U.S. direct investment abroad in-creased $4.6 billion to $226.1 billion,following last year's $6.8 billion de-crease (line 14). Equity capital and in-tercompany account inflows droppedto $4.2 billion from $11.1 billion,

largely reflecting a drop to $5.0 bil-lion from $9.9 billion in inflows offunds through finance affiliates in theNetherlands Antilles. U.S. corpora-tions relied more on internally gener-ated funds and equity financing. Rein-vested earnings were up, to $9.1 bil-lion from $6.4 billion. Limited expan-sion abroad raised earnings in a fewindustrial countries, especially earn-

Table 1.—International Investment Position of the United States at Yearend[Millions of dollars]

Line

1

2

3456

7

8

9

101112

131415161718

19

20

21

2223242526

27

28

29

3031

323334

35

Type of investment

Net international investment position ofthe United States (line 2 less line 20).U.S. assets abroad

U.S official reserve assetsGoldSpecial drawing rightsReserve position in the International

Monetary Fund.Foreign currencies

U.S. Government assets, other thanofficial reserve assets.U.S. loans and other long-term

assets 4.Repayable in dollarsOther 5

U.S. foreign currency holdings andU.S. short-term assets.

U.S. private assetsDirect investment abroadForeign securities

BondsCorporate stocks

U.S. claims on unaffiliated foreign-ers reported by U.S. nonbankingconcerns.

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

Foreign assets in the United States

Foreign official asssets in the UnitedStates.U.S. Government securities

U.S. Treasury securitiesOther

Other U.S. Government liabilities 9....U.S. liabilities reported by U.S.

banks, not included elsewhere.Other foreign official assets

Other foreign assets in the UnitedStates.Direct investment in the United

States.U.S. Treasury securities 10

U.S. securities other than U.S.Treasury securities.

Corporate and other bondsCorporate stocks

U.S. liabilities to unaffiliated for-eigners reported by U.S. nonbank-ing concerns.

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

Posi-tion

1982 r

149,546

838,142

33,95711,1485,2507,348

10,212

74,362

72,684

70,6732,0111,678

729,823221,51275,57356,69818,87528,160

404,578

688,596

189,004

132,520124,878

7,64213,45424,989

18,041

499,592

121,885

25,81293,552

16,80576,74727,061

231,282

Changes in position in 1983 (decrease (— )>

Attributable to:

Capitalflows

(a)

-32,232

49,490

1,196

664,434

3,304

5,013

4,962

4,994-33

52

43,2814,8817,6763,6943,9825,333

25,391

81,722

5,339

6,5026,989-487

199433

1,795

76,383

11,299

8,7318,612

2,1976,415

-1,318

49,059

Pricechanges

(b)

-8,949

2,558

2,558

2,558-2,027

4,585

11,507

-430

-2,090-2,182

92

1,660

11,937

-54812,485

-1,58914,074

Ex-change

ratechanges l

(0

-2,358

2 412

1378

290-470

618

71

-46

(*)-46-25

-963

-96377

-886

-54

-54

-54

Otherchanges 2

(d)

-41

-328

-273 -27

7

10

-10

18

308-276-32

-32

-287

-2

-2

-285

295

-580

Total(a+b+c+d)

-43,580

49,308

209-27224

3,964

-3,922

4,949

4,906

4,984-79

45

44,5684,6059,2391,5907,6495,333

25,391

92,888

4,907

4,4124,807-395

197433

-135

87,981

11,594

8,12921,097

60820,489

-1,898

49,059

Posi-tion

1983 *

105,967

887,450

33,74811,1215,025

11,312

6,289

79,312

77,590

75,6571,9331,722

774,390226,11784,81258,28826,52433,493

429,968

781,483

193,911

136,932129,685

7,24713,65125,422

17,906

587,572

133,479

33,941114,649

17,41397,23625,163

280,340

Position, by area

Western Europe

1982

-63,188

258,189

5,974

5,974

10,459

10,233

9,904330226

241,75699,45917,61510,4197,1968,471

116,211

321,377

63,467

( <»2,571

) ">257,910

81,857

(7)66,725

13,17553,55011,064

(7)

1983

-100,201

267,622

4,202

4,202

10,543

10,354

10,071283189

252,877102,46123,58212,89810,6849,956

116,878

367,823

69,317

(7)

2,682

(7)

298,506

91,195

(7)80,457

13,06567,3929,661

(7)

Canada

1982

67,213

109,724

(*)

(*)

534

481

481

53

109,19046,18340,51831,6258,8935,094

17,395

42,511

2,243

(7)

182

(7)

40,268

11,922

(7)14,481

1,27113,2102,556

(7)

1983

68,523

118,860

(*)

(*)

639

578

578

61

118,22147,53843,57832,00311,5756,745

20,360

50,337

2,593

(7)

166

(7)

47,744

11,608

(7)18,024

1,26916,7552,826

(7)

Japan

1982

1,987

45,268

2,144

2,144

556

539

539

17

42,5686,9283,9462,3021,6441,200

30,494

43,281

}„2,088

)-9,588

(8)1,735

741994

1,877

(8)

1983

-918

49,134

2,077

2,077

541

524

524

18

46,5168,0594,6901,8712,8191,337

32,430

50,052

(8)

1,933

(8)

11,321

(8)2,601

1,1791,4222,206

(8)

Latin AmericanRepublics andOther Western

Hemisphere

1982

112,167

251,948

2,093

2,093

13,788

13,715

13,27344274

236,06729,8311,528

979549

9,615

195,093

139,781

{6,442

("501

{ "1 133,339

12,665

(7)5,685

7494,9363,938

(7)

1983

95,263

262,867

10

10

14,014

13,971

13,51945243

248,84327,435

756280476

11,821

208,831

167,604

6,669

(7)

583

(7)

160,905

13,184

(7)7,173

8176,3563,849

(7)

Othercountries,

internationalorganizations,

andunallocated!

1982

31,366

173,012

23,74511,1485,2507,348

49,025

47,716

46,4771,2391,309

100,242639,11111,96611,373

5933,780

45,385

141,646

) , ,8,112

1-5,853

(8)4,926

8694,0577,626

(8)

1983

43,300

188,967

27,45911,1215,025

11,312

53,575

52,163

50,9651,1981,412

107,933640,62412,20611,236

9703,634

51,469

145,667

(8)

8,286

(8)

6,171

(8)6,394

1,0835,3116,621

(8)

r Revised. p Preliminary.Încludes U.S. gold stock.'Less than $500,000 (±).

1. Represents gains or losses on foreign currency-denominated assets due to their revaluationat current exchange rates.

2. Includes changes in coverage, statistical discrepancies, and other adjustments to the value of

3. Reflects U.S. Treasury sales of gold medallions; these demonetizations are not included ininternational transactions capital flows.

4. Also includes paid-in capital subscription to international financial institutions and outstand-ing amounts of miscellaneous claims that have been settled through international agreements tobe payable to the U.S. Government over periods in excess of 1 year. Excludes World War I debtsthat are not being serviced.

5. Includes indebtedness that the borower may contractually, or at its option, repay with itscurrency, with a third country's currency, or by delivery of materials or transfer of services.

6. Includes, as part of international and unallocated, the estimated direct investment in ship-ping companies operating under the flags of Honduras, Panama, and Liberia, and in U.S.-affili-ated multinational trading companies, finance and insurance companies, not designated by coun-try.

7. Details not shown separately are included in totals in lines 21 and 28.8. Details not shown separately are included in line 20.9. Primarily includes U.S.Government liabilities associated with military sales contracts and

other transactions arranged with or through foreign official agencies.10. Includes U.S. Treasury notes denominated in foreign currency and subject to restricted

transferability that were sold through foreign central banks to domestic residents in country ofplacement. None of these notes were outstanding after July 1983.


ings of automotive affiliates inCanada.

Other claims on unaffiliated for-eigners reported by U.S. nonbankingconcerns increased $5.3 billion to$33.5 billion, following a $6.6 billiondecrease (line 18). In 1982, nonbank-ing concerns withdrew deposits fromabroad, party to replace the recession-induced drop in internally generatedfunds. As business activity, profits,and working capital increased strong-ly in 1983, funds were again placedabroad, mainly in U.K. and Caribbeanbanking centers and in Canada.

U.S. official reserve assets and otherU.S. Government assets

U.S. official reserve assets de-creased $0.2 billion to $33.7 billion.Exchange rate changes decreased re-serve assets $1.4 billion; capital flowsincreased assets $1.2 billion (line 3).Drawings of dollars from the IMF byLatin American countries increasedthe U.S. reserve position with theIMF. Payment of the U.S. share ofthe IMF quota increase at yearend of$0.7 billion in special drawing rightsand $0.3 billion each in German markand Japanese yen holdings increasedthe U.S. reserve position with theIMF $1.3 billion. Other declines inforeign currency holdings reflected re-demption of the last of U.S. Treasuryforeign currency notes denominatedin German marks and Swiss francs,and repayment by Brazil and Mexicoof their drawings under reciprocaland special currency arrangementswith the United States.

Other U.S. Government assets in-creased $5.0 billion to $79.3 billion(line 8). The increase in 1983, as in1982, was largely Government assist-ance to developing countries in theMiddle East and capital subscriptionsand contributions to international fi-nancial institutions (excluding theIMF).

Changes in Foreign Assets inthe United States

Bank liabilitiesU.S. liabilities to foreigners and

international financial institutions re-ported by U.S. banks, including U.S.Treasury securities, increased $57.2

billion to $314.3 billion (lines 30 and35). In 1982, when the establishmentof IBF's increased reported liabilities,these liabilities increased $73.2 bil-lion. A strong dollar, favorable inter-est rate differentials, and the safehaven attraction of the United Stateswere contributing factors. In thesecond half of the year, when U.S.rates rose sharply and increased thedifferential with rates abroad, largebank inflows to finance U.S. economicexpansion and sharply lower bankoutflows to foreigners resulted in U.S.banks becoming substantial net bor-rowers from foreigners for the yearfor the first time since 1979.

Nearly $25.6 billion of the 1983 in-crease in liabilities was to U.S. banks'own foreign offices in the Caribbeanand United Kingdom. U.S. banksrelied on deposits in overeas offices bynonbank U.S. residents and on netprincipal repayments of interbankEurocredits by other foreign banks tofinance their drawings from foreignoffices. U.S. liabilities to unaffiliatedand other foreigners increased $23.4billion; nearly one-half were inflowsfrom other banks. Holdings of U.S.Treasury securities increased $8.1 bil-lion as purchasers—especially custom-ers in the United Kingdom, Switzer-land, and Japan—were attracted byrising U.S. interest rates.

U.S. securitiesForeign holdings of JLJ.S. securities

other than U.S. Treasury securitiesincreased $21.1 billion to $114.6 bil-lion, following an $18.2 billion in-crease (line 31). Holdings of U.S.stocks appreciated 18 percent, or$14.1 billion; net purchases added arecord $6.4 billion (line 33). Exception-al interest in stocks was evidentworldwide as U.S. and foreign stockmarkets recovered from lacklusterperformances in the 1981-82 recessionyears. In 1983, German, Swiss, andBritish residents accounted for mostnet purchases, whereas in 1980-82—following removal of outward portfo-lio investment restrictions in theUnited Kingdom in late 1979—Britishresidents dominated net foreign pur-chases. Net British purchases droppedto $1.8 billion in 1983, from $3.1 bil-lion in 1982. Net purchases by Germa-ny were $1.0 billion, up from $0.3 bil-lion; by Switzerland, $1.3 billion,shifting from sales of $0.6 billion; and

by Canada, $1.2 billion, up from $0.2billion.

Foreign holdings of U.S. corporateand other bonds increased $0.6 billionto $17.4 billion (line 32). Rising inter-est rates led to a $1.6 billion price de-cline, which partly offset the $2.2 bil-lion in net foreign purchases. Germanpurchases slowed, while Swiss andJapanese purchases increased.

Foreign official assetsForeign official assets in the United

States increased $4.9 billion to $193.9billion (line 21). Most official place-ments in the United States were in-vested in time deposits and U.S.Treasury bills in 1983. Following re-ductions in 1982, dollar assets of anumber of industrial countries—in-cluding France, Italy, United King-dom, Canada, and Japan—increased$10.2 billion. Dollar assets of OPECmembers decreased $8.6 billion, asrevenues were curtailed by falling pe-troleum demand and weak petroleumprices in world markets. Dollar hold-ings of other countries, mostly inAsia, increased $3.8 billion.

Foreign direct investment in theUnited States and other liabilities

Foreign direct investment in theUnited States increased $11.6 billionto $133.5 billion, as equity capital andintercompany account inflows slowedfor the second consecutive year (line29). Reinvested earnings increasedslightly in 1983, in contrast to a de-crease in 1982.2 The strength of thedollar and rising U.S. stock pricestended to limit direct investment in-flows.

U.S. liabilities to unaffiliated for-eigners reported by U.S. nonbankingconcerns decreased $1.9 billion to$25.2 billion, mostly to United King-dom and Caribbean banking centers,and to countries in Asia (line 34).Trade payables to Middle East petro-leum exporters were reduced and U.S.businesses repaid some Euromarketborrowings.

2. Estimates for foreign direct investment in theUnited States have been revised to incorporate resultsof BEA's recently completed benchmark survey for1980.

Constant-Dollar Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and Trade

Tables 1, 2, and 3 present constant-dollar inventories, sales, and inven-tory-sales ratios, respectively, quarterly and monthly. Table 4 presentsquarterly constant-dollar fixed-weighted inventory-sales ratios, i.e., ratiosobtained by weighting detailed industry ratios by 1972 sales. Table 5 pre-sents monthly inventories for manufacturing by stage of fabrication.

Quarterly estimates for 1959 to 1981 were published in the November1981 SURVEY OF CURRENT BUSINESS. Quarterly estimates for 1980 to 1983,and monthly estimates for 1983 were published in the September 1983SURVEY.

Table 1.—Manufacturing and Trade Inventories in Constant DollarsSeasonally Adjusted, End of Period


Manufacturing and trade .. ..

Manufacturing

Durable goodsPrimary metalsFabricated metalsMachinery except electricalElectrical machineryTransportation equipment

Motor vehiclesOther

Other durable goods1

Nondurable goods ....Food and kindred productsNonfood

Paper and allied productsChemicals and allied productsPetroleum and coal products ,Rubber and plastic productsOther nondurable goods2

Merchant wholesalers

Durable goods ,Nondurable goods ....

Groceries and farm productsOther nondurable goods

Retail trade

Durable goodsAuto dealersOther durable goods ,

Nondurable goodsFood storesOther nondurable goods

1983

IV

261.6

1365

92.011410.321.416117.442

13.215.6

44.510.933.64.28.23.129

15.1

56.3

36.81947.6

118

68.9

31.814517.337.17.9

29.2

1984

I

266.8

1382

93.011610321.516217.744

13415.6

45.211.2341

4.28.43.130

153

570

37.21987.6

121

71.5

32.815217.638.87.8

31.0

19

Nov.

260.7

1365

91.811610.221.715717.040

13.015.6

44.711.033.74.28.23.130

15.1

55.8

36.41957.9

116

68.3

31.214117.137.17.9

29.2

33

Dec.

261.6

136.5

92.011410.321.416.117.442

13.215.6

44.510.933.6

4.28.23.12.9

15.1

56.3

36.819.47.6

11.8

68.9

31.814.517.337.17.9

29.2

Jan.r

262.2

136.0

91.411.310.221.315.917.14.2

12.915.5

44.611.033.64.28.13.12.9

15.3

56.6

37.119.57.7

11.9

69.6

31.814.517.337.87.9

29.9

19

Feb.

265.6

137.1

92.111.510.321.516.017.44.3

13.115.5

45.011.133.84.28.33.23.0

15.2

56.9

36.920.07.8

12.2

71.5

32.915.417.538.67.8

30.8

84

Mar.

266.8

138.2

93.011.610.321.516.217.74.4

13.415.6

45.211.234.14.28.43.13.0

15.3

57.0

37.219.87.6

12.1

71.5

32.815.217.638.87.8

31.0

Apr.p

269.5

139.0

93.911.910.421.716.317.84.3

13.515.8

45.210.934.24.28.53.23.0

15.3

57.9

37.520.48.1

12.4

72.6

33.315.517.939.27.8

31.4

Table 2.—Manufacturing and Trade Sales in Constant DollarsSeasonally Adjusted Total at Monthly Rate


Manufacturing and trade

Manufacturing

Durable goodsPrimary metalsFabricated metalsMachinery, except electricalElectrical machineryTransportation equipment

Motor vehiclesOther

Other durable goods 1

Nondurable goods .Food and kindred productsNonfood

Paper and allied productsChemicals and allied productsPetroleum and coal productsRubber and plastic productsOther nondurable goods 2




Retail trade

Durable goodsAuto dealersOther durable goods.


1983

IV

169.1

78.0

4284.3448.68.0896.22685

35211.52373.16.32.82.096

40.5

18.222311.910.4

50.6

18.310380

oo Q

10122.2

1984

I

173.5

79.8

4454.3459.10 O

977.12687

35211.52383.16.32.81.996

41.9

19.222811.811.0

51.8

19.011 179

32.899

22.9

19

Nov.

168.8

78.0

4284.345857.9916.42785

35111.4237316.32.82.095

40.2

18.122111910.1

50.7

18210279

32.5102223

33

Dec.

172.5

80.0

4444.544898.3956.72887

35611.62403.16.32.82.196

41.3

18.622712110.6

51.2

19110981

32.299

223

Jan/

174.2

79.3

4424.2458.98.29.87.2268.6

35211.52373.16.32.71.997

42.4

19.223312.011.3

52.4

19.31138.0

33.110123.1

19

Feb.

173.0

79.6

44.54.2468.98.1

10.07.3278.8

35.011.423.63.16.32.81.996

41.5

18.922711.910.7

51.9

19.21137.9

32.799

22.8

84

Mar.

173.2

80.4

4494.4459.48.69.46.8258.7

35.511.524.03.16.23.02.09.6

41.9

19.522.311.410.9

51.0

18.51067.9

32.49.8

22.7

Apr."

174.1

79.6

44.04.34.49.28.38.96.3268.9

35.611.52413.26.53.12.094

42.3

19.622711.511.2

52.1

19010981

33.1102230

See footnotes to table 4. See footnotes to table 4.

Table 3.—Constant-Dollar Inventory-Sales Ratios for Manufacturingand Trade, Seasonally Adjusted

[Ratio, based on 1972 dollars]


Manufacturing

Durable goodsPrimary metalsFabricated metalsMachinery, except electricalElectrical machineryTransportation 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 goods2




Retail trade

Durable goodsAuto dealersOther durable goods


1983

IV

155

175

2.152652.312.472.001.96

674991.84

1.2695

1.421371291 111.481.59

1.39

20287.64

1.14

1.36

1741.40217115.78

132

1984

I

154

173

2.092732.272.381.961.82

615131.80

1.2998

1.431361341.101.561.59

1.36

19487.65

1.11

1.38

1731.372221.18.78

136

19i

Nov.

154

175

2.142722.292.541.971.87.62

4891.84

1.2796

1.421.371311.181.501.59

1.39

20188.66

1.14

1.35

1.721.372161.14.78

131

33

Dec.

1.52

1.71

2.072.522.322.401.931.83.63

4641.79

1.25.94

1.401.351291.101.421.57

1.36

1.98.86.63

1.11

1.34

1.671.332131.15.80

131

Jan.r

1.51

1.71

2.072.712.252.391.941.75.59

4.961.81

1.27.96

1.421.351.291.141.531.58

1.33

1.93.84.64

1.05

1.33

1.651.282.171.14.78

1.30

19

Feb.

1.54

172

2.072742.232.431.981.74.59

4921.76

1.28.98

1.431.361311.151.561.59

1.37

1.96.88.66

1.14

1.38

1.721.372.231.18.79

1.35

84

Mar.

1.54

1.72

2.072622.302.301.901.89.64

5251.80

1.28.97

1.421.361351.031.521.59

1.36

1.91.89.67

1.11

1.40

1.771.432.221.20.79

1.37

Apr."

1.55

1.75

2.132.772.342.371.962.01.69

5.201.77

1.27.95

1.421.331.311.041.501.63

1.37

1.91.90.70

1.11

1.39

1.751.422.191.18.77

1.37

Table 4.—Fixed-Weight Constant-Dollar Inventory-Sales Ratios forManufacturing and Trade, Seasonally Adjusted

[Ratio, based on 1972 dollars]


Manufacturing




Retail trade


II

1 62

1.87

2.341.31

1.49

2.2289

1.30

1.701 10

1983

m

160

1.83

2.281.31

1.46

2.1887

1.31

1.711 11

IV

156

1.77

2.181.28

1.43

2.1088

1.30

1.72110

1984

I

1 55

1.77

2.161.31

1.38

2.0087

1.33

1.74112

'Revised." Preliminary.1. Includes lumber and wood products; furniture and fixtures; stone, clay, and glass products;

instruments and related products; and miscellaneous manufacturing industries.2. 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 theestablishment holding the inventory. Trade inventories are classified by the type of product soldby the establishment holding the inventory.

Table 4: The I-S ratios shown in this table were obtained by weighting detailed industry I-Sratios by 1972 sales. For manufacturing, 21 industries were used; for merchant wholesalers, 20kinds of business; and for retail trade, 8 kinds of business.

See footnotes to table 4.


Table 5.—Manufacturing Inventories by Stage of Fabrication in Constant Dollars, Seasonally Adjusted End of Period[Billions of 1972 dollars]

1983

IV

1984

Nov. Dec.

1984

Jan/ Feb. Mar. Apr."

MATERIALS AND SUPPLIES

Manufacturing

Durable goodsPrimary metalsFabricated metalsMachinery, except electricalElectrical machineryMotor vehiclesOther transportation equipmentOther durable goods l

Nondurable goodsFood and kindred productsPaper and allied productsChemicals and allied productsPetroleum and coal productsRubber and plastic productsOther nondurable goods 2

FINISHED GOODS

Manufacturing

Durable goodsPrimary metalsFabricated metalsMachinery, except electricalElectrical machineryMotor vehiclesOther transportation equipmentOther durable goods 1

Nondurable goodsFood and kindred productsPaper and allied productsChemicals and allied productsPetroleum and coal productsRubber and plastic productsOther nondurable-goods 2

WORK-IN-PROCESS

Manufacturing

Durable goodsPrimary metalsFabricated metals !.!!.!!.!'.!!""'.'.'.'.!!!!!Machinery, except electricalElectrical machineryMotor vehiclesOther transportation equipmentOther durable goods 1

Nondurable goodsFood and kindred productsPaper and allied productsChemicals and allied productsPetroleum and coal productsRubber and plastic productsOther nondurable goods 2

47.9

29.24.44.36.34.52.12.35.4

18.74.32.23.2

.91.27.0

41.6

23.03.02.66.23.3.7

1.45.8

18.75.71.53.61.61.35.0

46.9

4.03.48.88.31.49.54.4

7.1.9.5

1.4.6.5

3.2

48.4

29.54.34.36.54.52.22.35.3

18.94.22.33.3

.91.27.1

42.1

23.03.12.66.03.3

.71.45.9

19.16.01.53.81.61.35.0

47.7

40.54.13.49.08.41.59.74.4

7.21.0.5

1.4.7.5

3.3

47.6

29.14.44.36.44.42.02.25.4

18.54.12.23.2.8

1.17.0

42.2

23.33.22.66.43.2

.71.45.8

18.95.91.53.61.61.34.9

46.7

39.44.03.48.98.11.49.44.3

7.3.9.5

1.4.7.5

47.9

29.24.44.36.34.52.12.35.4

18.74.32.23.2

.91.27.0

41.6

23.03.02.66.23.3

.71.45.8

18.75.71.53.61.61.35.0

46.9

4.03.48.88.31.49.54.4

7.1.9.5

1.4.6.5

3.2

48.0

29.24.34.36.44.42.12.35.3

18.84.32.23.2

.91.17.0

41.5

22.93.02.66.23.2

.71.35.8

18.65.81.53.51.61.35.0

46.5

4.03.38.78.21.49.34.3

7.21.0.5

1.4.7.5

3.3

48.4

29.44.34.46.44.52.22.35.3

19.04.42.33.2

.91.27.1

41.7

23.03.12.66.23.2

.71.35.8

18.75.81.53.61.71.34.9

47.0

39.84.13.38.98.31.59.44.4

7.21.0.5

1.4.7.5

3.2

48.4

29.54.34.36.54.52.22.35.3

18.94.22.33.3

.91.27.1

42.1

23.03.12.66.03.3

.71.45.9

19.16.01.53.81.61.35.0

47.7

40.54.13.49.08.41.59.74.4

7.21.0.5

1.4.7.5

3.3

48.3

29.64.44.46.54.52.12.35.4

18.84.12.3

1.27.0

42.4

23.33.22.56.13.4

.71.45.9

19.15.81.53.81.71.35.0

48.3

41.04.33.49.18.51.59.84.4

7.31.0.5

1.4.7.5

See footnotes to table 4.

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Subject Guide

January-June Issues of Volume 64 (1984)

Articles and "Business Situation" sections are listed below by subject. Title, author, and issue and beginning page num-bers are given. (Each issue contained the "National Income and Product Accounts Tables" and a discussion of estimatestherein.)

Pollution Abatement and Control Expenditures, 1972-82. Kit D. Farber, Frederick J. Dreiling, Gary L. Rut-

NATIONALFarm

Farm Product and Income. 1-11.

GNP by industryGross Product by Industry, 1983. Milo O. Peterson. 4-58.

Government transactionsAnatomy of a Federal Government Deficit, Fiscal Year

1983. Joseph C. Wakefield. 3-19.Federal Budget Developments. Joseph C. Wakefield. 4-

22.Federal Fiscal Programs. Joseph C. Wakefield, Richard

C. Ziemer. 2-9.Federal Personal Income Taxes: Liabilities and Pay-

ments, 1980-82. Thae S. Park. 4-56.Government Sector. 3-4 and 5-2.Personal Income and Adjusted Gross Income, 1980-82.

Thae S. Park. 4-53.State and Local Government Fiscal Position: An Alter-

native Measure. David J. Levin. 3-23.State and Local Government Fiscal Position in 1983.

David J. Levin. 1-30.

Input-outputInput-Output Structure of the U.S. Economy, 1977. In-

terindustry Economics Division. 5-42.

Inventories and salesManufacturing and Trade Inventories and Sales in Con-

stant Dollars. 3-67; 6-77.

Motor vehiclesMotor Vehicle Developments. 3-3; 6-2.

National income and product accounts (NIPA 's)Improved Adjustments for Misreporting of Tax Return

Information Used to Estimate the National Incomeand Product Accounts, 1977. Robert P. Parker. 6-17.

National Income and Product Accounts: Preliminary Re-vised Estimates, 1977. Gerald F. Donahoe. 5-38.

Revisions. Fourth Quarter of 1983, 2-1 and 3-4; FirstQuarter of 1984, 5-1.

Underground Economy: An Introduction. Carol S.Carson. 5-21.

Plant and equipment expendituresPlant and Equipment Expenditures. Eugene P. Seskin,

J. Steven Landefeld. 1984, 1-26; First and SecondQuarters and Second Half of 1984, 3-26; Four Quar-ters of 1984, 6-26.

Pollution abatement and controlPlant and Equipment Expenditures by Business for Pol-

lution Abatement, 1983 and Planned 1984. William J.Russo, Jr., Gary L. Rutledge. 6-31.

ledge. 2-22.

ProfitsCorporate Profits. Fourth Quarter 1983, 3-4; Year 1983,

4-9; First Quarter 1984, 5-2 and 6-3.

Reconciliation and other special tablesCommand Over Goods and Services. 3-18; 6-16.Cyclically Adjusted Federal Receipts, Expenditures, Sur-

plus or Deficit, and Debt. 3-18; 5-10.National Defense Purchases of Goods and Services. 2-8;

5-9.Reconciliation of BEA Compensation and BLS Earnings.

2-8; 5-9.Reconciliation of Net Exports and Balance on Goods and

Services. 3-18; 6-16.

INTERNATIONAL

Balance of paymentsInternational Travel and Passenger Fares, 1983. Joan E.

Bolyard. 5-11.U.S. International Transactions. Fourth Quarter and

Year 1983, Christopher L. Bach, 3-38; First Quarter1984, Russell C. Krueger, 6-35.

Foreign investment in the United StatesU.S. Business Enterprises Acquired or Established by

Foreign Direct Investors in 1983. R. David Belli. 5-16.

Investment positionInternational Investment Position of the United States

in 1983. Russell B. Scholl. 6-74.

Reconciliation and other special tablesCommand Over Goods and Services. 3-18; 6-16.Reconciliation of Net Exports and Balance on Goods and

Services. 3-18; 6-16.

U.S. investment abroadCapital Expenditures by Majority-Owned Foreign Affili-

ates of U.S. Companies, 1984. Ralph Kozlow. 3-32.

REGIONAL

Personal incomeCounty and Metropolitan Area Personal Income, 1980-

82. Regional Economic Measurement Division. 4-30.Regional Nonfarm Wages and Salaries Thus Far in the

Recovery. Robert Bretzfelder, Howard Friedenberg. 4-25.

State Personal Income. 1-35; 4-27.

U.S. GOVERNMENT PRINTING OFFICE : 1984 0 - 445-525

CURRENT BUSINESS STATISTICS

THE STATISTICS here update series published in BUSINESS STATISTICS: 1982, a statistical supplement to the SURVEY OF CURRENT BUSINESS. That volume

(available from the Superintendent of Documents for $8.00, stock no. 003-010-00124-1) provides a description of each series, references to sources of earlierfigures, and historical data as follows: For all series, monthly or quarterly, 1979 through 1982, annually, 1961-82; for selected series, monthly or quarterly,

1961-82 (where available).The sources of the series are given in BUSINESS STATISTICS: 1982; they appear in the main methodological note for each series, and are also listed

alphabetically on pages 135-136. Series originating in Government agencies are not copyrighted and may be reprinted freely. Series from private sources areprovided through the courtesy of the compliers, and are subject to their copyrights.

Unless otherwise stated in footnotes below, datathrough 1982 and methodological notes are asshown in BUSINESS STATISTICS: 1982

1982 1983

Annual

1983

Apr. May June July Aug. Sept. Oct. Nov. Dec.

1984

Jan. Feb. Mar. Apr. May

GENERAL BUSINESS INDICATORSPERSONAL INCOME BY SOURCE

Seasonally adjusted, at annual rates:Total personal income bil $

Wage and salary disbursements, total do....Commodity-producing industries, total .... do....

Manufacturing do....Distributive industries do....

Service industries do....Govt. and govt. enterprises do....

Other labor income doProprietors' income: $

Farm doNonfarm do

Rental income of persons with capitalconsumption adjustment bil. $..

Dividends do....Personal interest income doTransfer payments do....Less: Personal contrib. for social insur do....

Total nonfarm income do

DISPOSITION OF PERSONAL INCOME

Seasonally adjusted, at annual rates:Total personal ' income bil $Less: Personal tax and nontax payments do....Equals: Disposable personal income do....Less: Personal outlays do....

Personal ppnsumption expenditures do....Durable • goods i doNondurable goods doServices do

Interest paid by consumers tobusiness do

Personal transfer payments toforeigners (net) do....

Equals' personal saving doPersonal saving as percentage of disposable

personal income § percent-

Disposable personal income in constant (1972)dollars bil. $.

Personal consumption expenditures inconstant (1972) dollars do

Durable goods do.Nondurable goods doServices do....

Implicit price deflator for personal consumptionexpenditures index 1972—100

INDUSTRIAL PRODUCTION

Federal Reserve Board Index of Quantity Output

Not Seasonally Adjusted

Total index 1967—100..

By industry groupings:Mining and utilities do....

Manufacturing do....Nondurable manufactures do....Durable manufactures do....

Seasonally Adjusted

Total index do....

By market groupings:Products, total do....

Final products .. . .... do.Consumer goods do....

25786

1,568.1509.2383.8378.8

374.1306.01566

215874

49.966.4

3662374.5112.0

25276

25786402.1

2,176.52,051.11,991.9

244 576109864

581

1.1

1254

5.8

1 060.2

9702139.83642466.2

2053

138.6

146.3

137.6156.2124.7

138.6

141.8141.5142.6

2742 1

1,664.6529.7402.8397.2

411.5326.2173.4

2091076

54.870.5

3663403.6119.5

26915

27421406.5

2,335.62,221.92,158.0

2794804 1

10745

628

1.21137

4.9

1,094.6

1 Oil 4156.3376 1479.0

2134

147.6

142.9

148.2168.1134.5

147.6

149.2147.1151.7

26890

1,632.1517.13935390.7

402.4321.91681

22 1103 1

54.6690

3550402.7117.6

26375

26890402.2

2,286.82,181.82,119.9

27067866

10627

609

1.11049

4.5

1,078.4

9997152.13700477.6

2121

141.9

134.2

143.0162.3129.7

142.6

144.5142.8147.7

2 719 3

1,652.2522.03975394.8

4082327.11701

2141066

54.8694

3569406.7118.8

2 668 5

2 719 3415.5

2,303.82,218.82,156.4

27868044

1 0734

613

1.1

851

4.0

1,083.3

1 014 015703762

. 480.8

2127

143.9

133.4

145.4165.0131.8

144.4

146.2144.5150.4

27326

1,660.9527.5401.2397.5

411.3324.71722

1941090

55.0695

3594406.7119.5

26838

27326420.2

2,312.42,228.02,164.8

284 18077

10730

621

1.1

844

4.0

1,087.5

1018 1160.33780479.7

2126

149.7

137.8

151.3172.6136.5

146.4

148.1146.4152.4

27476

1,673.5533.3405.8400.0

414.1326.11743

1661099

55.3702

3644403.5120.1

27014

27476396.9

2,350.72 238.92,174.8

287 18138

10739

629

1.2111 8

4.5

1 100.4

1 018 1160.73788478.5

2136

147.0

146.8

146.8167.6132.4

149.7

150.9149.0154.8

27564

1,680.5537.040853968

4155331.11763

1491109

50.8709

370 2402.2120.3

27118

27564400.1

2,356.3223872,173.8

27828131

1 082 5

63 7

1.21175

49

10974

1 012415553770479.9

2147

153.3

152.2

153.4177.6136.7

1518

153.2150.7156.3

27816

1,691.8543.1413.3399.8

419.6329.21784

1501130

55.8716

3752401.9121.1

27367

27816403.4

2,378.22,260.12,194.7

28328174

10942

64 1

1.21182

5.0

1,102.6

10175157.43784481.7

2157

158.4

148.2

160.0183.2143.9

153.8

154.9152.1157.3

28125

1,710.6546.7416.0408.1

425.2330.61806

2071142

56.0723

3783402.0122.2

27618

28125408.3

2,404.22 279.92,213.4

28978257

10979

651

1.41243

5.1

1 113.5

10251160.53825482.1

2159

158.4

141.6

160.7182.1145.9

155.0

155.6152.7156.9

28335

1,715.3550.54195408.0

4247332.11826

2381143

56.2729

3809409.8122.4

27797

28335411.0

2,422.5229432,227.1

29398277

1 1055

658

1.4

128 2

52

1 1215

1031016273847483.6

2160

154.7

142.6

156.1173.9143.8

155.3

155.8153.2156.1

28596

1,726.0552.94216411.8

4276333.71849

3041150

56.5734

3840412.4122.9

27992

28596414.7

2,444.9232072,252.1

31228216

1 1184

672

1.4

124 2r5 1

1 1294

1040317243803487.6

2165

151.5

152.6

150.9164.5141.4

156.2

157.4155.2157.7

'2 906 8

1,748.7564.04297414.3

4327337.71869

4761199

56.7741

r3899411.3128.3

r2 829 1

'2 906 8419.2

'2,487.7r2,368 2'2,299.0

32218525

1 124 4

676

'1.6'1194

54

1 1429

'1 056 2177.73912

'487.3

'2177

154.3

158.4

153.9166.8145.0

158.5

159.7157.5159.5

'2 928 0

1,757.1568.54336414.6

4348339.31890

495'1218

57.0751

'3962411.1128.7

'2 848 2

'2 928 0'422.0

'2,506.0'2 347 7'2,277.1

31278396

rl 124 9

689

'1.6

'1584

'59

'1 150 3

'1 045 2172.73868

'485.7

'2179

'160.2

'152.7

'161.2'175.4'151.3

'160.0

'160.4'158.0'159.4

'2 943 7

'1,763.4'569.0'4357'417.0

4366340.7191 1

465'1225

57.2762

'4029413.1129.0

'2 866 8

'2 943 7'422.8

'2,521.0'2 353.7'2,282.5

'3107'8374

'1 134 5

696

'1.6

'1673

6.2

'1 152 6

'1 043 6'171.8'3840'487.9

2187

'161.4

'149.1

'163.4177.3

'153.9

'160.8

'161.1'158.6'160.0

'2 961 0

'1,784.9'577.0'4414'422.1

'4436'342.2'1932

'312'1242

57.4770

'4084414.9130.2

'2 899 0

'2 961 0'425.5

'2,535.4'2,390 3'2,318.6

'3178'8576

'1 143 3

702

'1.5

'145 1

59

1 1576

1058617553938489.4

2190

P161.6

P144.0P164.0"178.5"154.0

P162.5

P162.6P160.3"161.7

29788

1,793.5579.644204257

4445343.61952

3081248

57.7773

4137416.5130.8

29168

29788430.'l

2,548.7241532,343.1

33148616

1 150 1

707

1.51334

e!623

e!44.6e!64.6e!79.2e!54.5

e!63.2

e!63.3«161.0•161.7

See footnotes at end of tables. S-l

S-2 SURVEY OF CURRENT BUSINESS June 1984


1982 1983

Annual

1983


1984


GENERAL BUSINESS INDICATORS—ContinuedINDUSTRIAL PRODUCTION— Continued

Seasonally Adjusted— Continued

By market groupings — ContinuedFinal products— Continued

Durable consumer goods 1967=100..Automotive products do....

Autos and utility vehicles do....Autos do

Home goods do

Nondurable consumer goods do....Clothing doConsumer staples do. .

Consumer foods and tobacco do....Nonfood staples do....

Equipment doBusiness equipment do

Industrial equipment # do....Building and mining equip do....Manufacturing equipment do....

Commercial transit farm eq $ doCommercial equipment do....Transit equipment do....

Defense and space equipment do....Intermediate products do

Construction supplies do .Business supplies do....

Materials doDurable goods materials do....Nondurable goods materials do....Energy materials do

By industry groupings:Mining and utilities do

Mining do....Metal mining do....Coal doOil and gas extraction # do....

Crude oil do....Natural gas do

Stone and earth minerals do....

Utilities doElectric do.

Manufacturing doNondurable manufactures do....

Foods do

Tobacco products do....Textile mill products doApparel products do....Paper and products do....Printing and publishing doChemicals and products do....Petroleum products doRubber and plastics products do....Leather and products do....

Durable manufactures doOrdnance, pvt. and govt do....Lumber and products do....

Furniture and fixtures do....Clay, glass, and stone products do....Primary metals... . . . d o

Iron and steel doNonferrous metals do....

Fabricated metal products do....Nonelectrical machinery do....Electrical machinery do....

Transportation equipment do....Motor vehicles and parts do....

Instruments do

BUSINESS SALES

Mfg. and trade sales (unadj.), total @ mil. $..

Mfg. and trade sales (seas, adj.), total @ do....

Manufacturing, total tt do....Durable goods industries do....Nondurable goods industries do....

Retail trade, total $ do....Durable goods stores do....Nondurable goods stores do....

Merchant wholesalers, total t do....Durable goods establishments do....Nondurable goods establishments do....

Mfg. and trade sales in constant (1972) dollars(seas, adj.), total bil $

Manufacturing do...Retail trade doMerchant wholesalers do....

129.2129.599.0866

129 1

148.0

159.0149.7169.7

13981579134.9214.2107.2

1844253.5103.9

109.41433124.3162.1

1337125.0157.51251

14631261

82.41427131.195.1

104 1112.1

16871905

1376156.2151 1

118.01245

150.8

144 1196.11218254.760.9

124786.9

112.6151.9128.275361799.7

114.8149.0169.3

104.9109.81619

4,122,053

'4,122,0531 1,910,317

922,313988,004

1 1,074,561324,489750,072

1 1,137,175467,107670,068

147.5158.2134.01174

141 4

153.4

1637153.5175.4

14081533120.4159.3107.1

1913273.2952

119.915661425170.7

1452138.6174.51248

14291166809

1363116.6951947

122.8

17241960

1482168.11564

112.11408

1643

152521501203291.961.9

134595.4

1372170.5143.4854715

110.1120.2150.61855

117.8137 11587

4,405,156

'4,405,156

'2 047 4001,021,5141,025,88611,173,966

385 141788,825

1 1,183,790504,810678,980

140.5144.9117.81027

1381

150.5

161 1150.9172.9

13621469113.5141.8101.7

1854264.3920

118.215081364165.2

1397132.4168.71216

13891116798

1253112.2960979

117.7

16931927

1431163.31537

114.81366

1570

145720851206283.058.7

129193.2

1321167.7138.3831685

1054115.3143.11772

111.412551551

348,454

351,012

162 99780,12482,873

95,1253067164,454

92,89039,22453,666

156072047736.3

145.5152.2124.91074

1418

152.3

1628153.2174.0

13651477114.5146.2102.5

1861265.0926

117.615221384166.0

1417134.7172.1121 1

13971128844

1256112.595394 1

122.5

16971929

1451165.41556

112.91396

1615

145221101238288.059.6

131092.6

1358169.6139.2849695

1100115.5146.11801

113.813041560

364,388

360,488

166 60382,01184,592

97,2393170565,534

96,64640,66755,979

161 673749138.8

149.2160.0135.41183

1432

153.6

1643155.9174.1

13821502116.3148.7105.0

1895270.993.2

118.015451421166.8

1437137.0174.31218

13961126829

1246112.6959874

121.7

16981920

1474167.81577

12001418

1630

147421471230293.860.1

133293.3

1374173.1141.784869 7

1107118.5149.51824

116.613621561

385,610

368,971

171 75685,59486,162

98,6383279065,848

98,57742,47956,098

165876 149839.8

152.9167.0145.41298

1449

155.6

166 1156.6177.2

14101533119.9154.4108.9

1919276.0

92.0

120.4158 11458170.4

1478141.1177.01277

14381150825

1399113.995789 1

121.2

17602009

1506170.61599

11291467

1651

152021831243296.162.3

136895.2

141 3175.2145.885571 8

1126122.7154.21883

119.714231593

352,447

370,181

171 40885,07686,332

98,8323259766,235

99,94142,82457,117

164074849839.4

154.2168.1147.01320

1464

157.1

1680156.3181.6

14311566124.3159.2113.3

1940277.4959

1202162214901753

1497144.2178.01280

14601161809

141 2114.794391 0

125.0

17932054

152817291593

1171147 4

1686

157822031232306.9

64.4

138896.8

1416179.0147.987575 1

1081126.0157.31892121.11443161 6

374,842

373,283

174 11286,73087,382

98,2773195166,326

100,89442,75758,137

164 776449039.3

157.5172.9153.11350

1488

157.2

1676154.6182.7

14491587125.6160.8115.0

1969281.7976

1218165415141793

1522147.4182.31264

14651171787

1405116.395491 5

126.5

17932045

155117461582

11271487

1704

161 72241125 1310.9

64.2

141 698.0

1423180.7151.7906782

1135127.4158.31958

124.715091636

386 670

379,229

177 52188,96388,558

99,5373290566,632

102,17143,53558,636

166276749739.8

156.7171.3149.21296

1484

157.1

1672156.0180.3

14701613126.6166.9114.6

2013288.11000

1229166515231806

1540149.4185.31263

14581183810

1427117.3944929

127.4

17652007

156217561576

1091148 7

1715

162722841236310.8

64.0

142898.8

1417

181.0151.995384 3

1155126.9159.21984

125.515091630

389 500

382,457

177 32489,18188,143

100,9233388267,041

104,21044,51959,691

166 176 149940.1

155.9171.5149.21294

1472

156.1

1654154.5178.1

14911641128.6175.8114.3

2051292.5103.2

124.0165515161794

1545150.3184.8127 1

1472121 1846

1448119.8940967

132.2

17632002

156417481571

10951458

1721

162022561254309.163.2

143699.3

141 0

177.5152.7922792

114 1128.5161.8200 1

127.315291630

389 339

386,564

180 87592,31188,564

101,8963464167,255

103,79344,94658,847

168 878050740.2

158.6178.4157.81374

1475

157.3

166.0155.4178.3

15181673130.8185.3115.1

2096298.9106.0

125.716541515179.3

1545151.3180.31300

15151237823

1452123.4946985

133.9

18252080

156817391577

11231450

1701

161 7221 11144314.466.0

145099.8

1438

177.9153.890474 1

1215129.2164.3201 5

130.815891646

412 744

395,682

186 35296,35190,001

102,4383553266,906

106,89246,36360,529

172 580051 241.3

163.4184.5163.31407

1515

157.9

166.5156.5178.2

15491707133.7185.1119.7

2133303.2110.1

128.316781555180.1

1566154.6181.21313

15141248894

1515123.1964996

134.8

18102068

159517521594

11641439

1723

163422151188317.261.4

148699.7

1460

183.8157.893280 7

1174131.7169.52062

134.916631678

367 603

401,133

184 40695,28389,123

106,60237 12769,475

110,12547,85562,270

r!74 279352 442.4

'162.5'182.1r!62.21404

1515

158.2

1669156.8178.7

156 11719134.6182.0120.9r2151r305.91101

1295169015661813

1594158.6184.1131 0

14891241

9741632

119.6r946992

133.0

1765r2000

161 417721600

11091423

1766

1648'22481276318.563.9

150599.6

1456

185.6160.4984860

121 3132.8170.92099

135.216441686

383 524

398,815

185 00596,29788708

105,4823690968,573

108,32847,30861,020

173 0r79 651 941.5

163.0183.8163.81424

1513

158.8

1677157.1

179.9

15661723135.0174.9124.7

r2155'306.71102

'130.017031593181.3

'1605159.6185.8'131 2

1504123810001640

118.1'934

137.0

'1800'2046

'162 11778161 2

1118'1435

'1745

'1652'2257'1270'323.8'63.8

'151 2100.6'1493

185.0'160.2'976'84 4

'1226134.9

171.8'2109

135.4'1658'1697

'417 312

'401,905

'188 479'96,990'91 489

103,873'35 306'68,567

109,553'48,454'61,099

'173 2'80 4'51 0'41.9

P162.4"178.9P156.7P1345P1532P161.4P1703P182.4P1584P1738P135.9P172.1P126.8P2175P309.9P1103P1327P1713P1604P1821P1623"162.3P187.7P131 0

"1496P1228

P998P151 4P118.2

P960P139.5P1795P2040P164 1P1799

P1449P1751P1660P2286P1293P328.7

P64.4P1532P101.5P1500P189.3P1615

P999P86 7

P1200P136.7P175.5P2145P135.0P1626P171 9

400 357

404,615

186 72794,99591732

107,0973731969,778

110,79149,37761,414

174 179 652 142.3

162.4178.2e!55.5«1329

1536

161.5

1706

183.1

15991754137.8e 179.9127.0

"2189e311.461120

133817181603

e!63 1163.0188.8e!31 6

15121250

1534120.8

1805«2053

16471802

1762

16546 130 1

'154 0102.0

"100 9

137.0176.2«>216 1

135.3'163 0"172 9

"""

•"•••»•••"•

See footnotes at end of tables.

June 1984 SURVEY OF CURRENT BUSINESS S-3


1982 1983

Annual

1983


1984


GENERAL BUSINESS INDICATORS—ContinuedBUSINESS INVENTORIES

Mfg. and trade inventories, book value, end of yearor month (unadj.), total @ mil $

Mfg. and trade inventories, book value, end of yearor month (seas, adj.), total @ mil. $..

Manufacturing, total ft do....Durable goods industries doNondurable goods industries do

Retail trade total $ doDurable goods stores do. ..Nondurable goods stores do....

Merchant wholesalers, total t do....Durable goods establishments doNondurable goods establishments do....

Mfg. and trade inventories in constant(1972)dollars,end of year or month(seas.adj.),total bil. $..

Manufacturing doRetail trade doMerchant wholesalers do

BUSINESS INVENTORY-SALES RATIOS

Manufacturing and trade total @ ratio

Manufacturing total "t~f" doDurable goods industries do

Materials and supplies do .Work in process doFinished goods . do

Nondurable goods industries doMaterials and supplies do^fork in process doFinished goods do

Retail trade total $ . ... doDurable goods stores doNondurable goods stores do....

Merchant wholesalers, total t do....Durable goods establishments doNondurable goods establishments do....

Manufacturing and trade in constant (1972) dollars,total do

Manufacturing doRetail trade doMerchant wholesalers do....

MANUFACTURERS* SALES, INVENTORIES,AND ORDERS ft

Shipments (not seas, adj.), total mil. $..

Durable goods industries, total do....Stone, clay, and glass products doPrimary metals do ...

Blast furnaces, steel mills do....Fabricated metal products do....Machinery, 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 do....Tobacco products doTextile mill products do

Paper and allied products do....Chemical and allied products doPetroleum and coal products doRubber and plastics products do....

Shipments (seas adj ), total .... doBy industry group:

Durable goods industries, total # doStone clay and glass products doPrimary metals do....

Blast furnaces, steel mills do

Fabricated metal products do....Machinery except electrical doElectrical machinery doTransportation equipment do....

Motor vehicles and parts doInstruments and related products do....

Nondurable goods industries total # do ...Food and kindred products doTobacco products .doTextile mill products do....Paper and allied products doChemicals and allied products . doPetroleum and coal products do....Rubber and olastics products do....

500 915

505,546

264,599175 00989590

125 38456,74868,636

115,5637601339,550

152

1732370.72103061

1 13044018050

1422.181.09

1.252.010.72

1,910,317

922,31344005

107,03147,320

113,975180 612141 056195,054112,17748,873

988 004277,3241445547217

78,989172 803206 43050,163

509 324

514,336

260,426171 57188855

135 8436344772,396

118,0677581142,256

137

1522010.60090051

1030410 17046

1331.851.07

1.171.760.72

2,047,400

1,021,51449058

117 90448,189

120,570178 267156 016240,496151,87050,016

1 025 886286,6051546252219

85,135190 230191 55150,320

501 712

500,263

257,748170 36887380

127 61358,05769,556

114,9027375341,149

257.2136.3658551

143

1582130.63095054

1050420170.47

1341.891.06

1.241.880.77

1651891381.52

163,795

81,87839639,5933,9369,703

139891246219,47311,9843,897

8191722,83510704140

7,07015305154314,146

162 997

80,12438829,1203702

9,493140781245018,47611 1203,976

82,873235811,0964,1726949

14,78915,9544.008

501 063

501,035

258,281171 06587216

129 1975879670,401

113,5577264740910

257.51366662547

139

155209062094053

103041017046

1331851.07

1.171.790.73

1591851351.41

168,253

83,73641099,8633,922

10,108142451252619,89312,8743,908

8451723,8291 1874332

6,97516261158354,108

166 603

82,01140159,5083872

9,921142651255418,898119853,984

84,5922421411834,2606930

1548215,8114.091

498 831

500,615

257,661170 15487507

129 78259,12070,662

113,1727250140,671

257.1136.3663544

136

1501990.59089051

1020400 170.45

1321.801.07

1.151.710.72

1551791331.37

181,973

92,4444519

10,3634,283

10,663164131389022,35914,0874,381

8952924,90115144763

7,42316959168504,472

171,756

85,59441239,7503,994

9,887149751297220,491126824,083

86,162239561,4444,3777 107

15,93516,3844.163

497 598

501,379

257,699169 67988020

129 5565861470,942

114,1247319340,931

256.91363660547

135

1501990.59090051

1020400 17045

1311801.07

1.141.710.72

1571821331.39

158,331

76,670394590423,6619,148

1384411 48116,77110,2163,894

8166122,4231 1543775

6,71914460166713,994

171 408

8507639829,9544050

9,921153601279119,617125094,330

86,3322381211564,4347143

1592016,7784.204

500 692

504,284

259,074170 28388791

130 9835940071,583

114,2277307641 151

258.11367665549

135

1 49196059088050

102041017045

1331861.08

1.131.710.71

1 57179136140

171,649

83,373447697484,026

10,30614 1021241618,43611,6904,084

8827624,16712644651

7,27415751167844,305

174 112

867304235

101214189

10227150131276220,988136564,145

873822401812204,5187 108

1634816,6914.168

506 404

506,984

259 168170 08489084

132 1426062771,515

115 6747424941425

259.31366673554

134

146191057086048

101040016044

1331841.07

1.131.710.71

1 56178136139

185,882

93,1894688

105054,245

11,1071603414 39821,61314,0154,596

9269325,90815254830

7,42517532169614,514

177 521

889634304

102864266

10616154161357121063137324297

8855824316143245237229

16904168684.354

516 614

509,171

259,569170 21989350

132 7776104871,729

116,8257480642019

259.81365676557

133

146191057086048

101040017044

1321801.07

1.121.680.70

1 56179135139

182,791

92,7354531

106594,300

11,224156061406621,94814,9884,444

9005624,69413414 807

7,46216290162954,574

177 324

891814226

106314406

10681155881359420,609135134,305

88 14323904129546157354

1714516,2184.308

521 655

511,453

259,873170 65689217

134 6226244172,181

116,9587479142167

260.71365683558

132

1 44185055083046

101040017044

1321801.07

1.131.660.72

1 54175135139

179,712

91,5724289

105424,382

10,522155341405922,55114,8854,415

8814024,05014104474

7,27516078160844,300

180 875

923114346

11 1644641

10766159121396622039143954304

8856423765142344827542

17209160744.499

509 324

514,336

260,426171 57188855

135 84363,44772,396

118,0677581142,256

261.61365689563

130

140178054080044

0990400 16043

1331791.08

1.101.640.70

1 52171134136

179,624

92,3443734

109324,476

10,006175461433022,01413,2224,674

8728024,34417714496

7,13516706164124095

186 352

963514250

119644796

10889164441457923531156024568

9000124502161848067701

17329160934.567

513 621

518,062

260,884171 54989335

137 9776374974,228

119,2017640842,793

r262.21360696566

129

141180054081045

100041016043

1291721.07

1.081.600.69

1 51171133133

169,717

85,8153758

105264,3009,891

1442913 12921,81915,3724,041

8390222,70110354202

7,45916485155823985

184 406

952834462

107834335

10904163271432724223167614490

89123245421 13747707743

17088

4.264

525 177

527,216

264,074173 20390871

142 7316651376,218

120,4117691043501

r265.61371'715569

132

143180054081044

102042017044

1351891.11

1.111.630.72

1 54r!72138137

186,655

969484328

114574,789

11 121167171443524,52916,8654,333

8970724,30012414771

8,02417486158254*340

185005

962974634

10*9734565

110831648114*21624257165404426

8870823998134947877797

17159157514.320

r534 333

'532,766

'267,379'175 751'91 628

'143 910'66 946'76,964

'121,477'78188'43,289

'266.8'138 2'715'570

133

142181055082044

ioo040016

'044

139'1901.12

1.111.610.71

154'172'140136

'197,619

'103 730'4511

'12404'5,211

'11,589'18506'15791'25,649'17,636'4,851

'93 889'25,454'1500'5 186

'8,149'18 703'16 842'4494

'188 479

'96990'4458

'11 571'4751

'10 977'17029'15 127'23 215'15890'4590

'91 489'24 750rl 614'4710'7 778

'17 262'17*314'4.438

542 221

540,904

270,434178 37492060

1468936898377,910

123,5777860744970

269.51390726579

134

1 45188056086046

100i . 0 4 01 0 16

044! : ' :137

185> ' i i 1 2

• ! • 1.121.590.73

155175139

l< '137

187,996

971934596

11*7744,992

11 1411672914 59023,37815,7194,602

908032415112854604

8,1261846216 5454513

186 727

949954505

11 1954 700

1089316 82714*56122 114145854*702

9173224 949

1*32046457987

1781017 1344.367




1982 1983

Annual

1983


1984


GENERAL BUSINESS INDICATORS—ContinuedMANUFACTURERS' SALES, INVENTORIES,

AND ORDERS f— Continued

Shipments (seas, adj.)— Continued

By market category:Home goods and apparel mil $Consumer staples doEquipment and defense prod., exc. auto ... . do...Automotive equipment doConstruction materials and supplies . doOther materials and supplies do

Supplementary series:Household durables do....Capital goods industries do

Nondefense do.Defense do

Inventories, end of year or month:Book value (unadjusted), total do....

Durable goods industries, total do....Nondurable goods industries total do

Book value (seasonally adjusted), total do....By industry group:

Durable goods industries, total # do....Stone, clay, and glass products do....Primary metals . do

Blast furnaces, steel mills do..

Fabricated metal products do....Machinery, except electrical do....Electrical machinery do....Transportation equipment do....

Motor vehicles and parts do....Instruments and related products doBy stage of fabrication:

Materials and supplies doWork in process do....Finished goods do

Nondurable goods industries, total # do....Food and kindred products do....Tobacco products doTextile mill products doPaper and allied products doChemicals and allied products do....Petroleum and coal products do....Rubber and plastics products do....

By stage of fabrication:Materials and supplies do....Work in process .. ... doFinished goods do..

By market category:Home goods and apparel do....Consumer staples doEquip, and defense prod., exc. auto do....Automotive equipment doConstruction materials and supplies do....Other materials and supplies do....

Supplementary series:Household durables . . doCapital goods industries do....

Nondefense .. .. doDefense do....

New orders, net (not seas, adj.), total do.. .Durable goods industries, total do....Nondurable goods industries, total do....

New orders net (seas adj ) total doBy industry group:

Durable goods industries, total doPrimary metals do

Blast furnaces, steel mills do....Nonferrous and other primary met do....

Fabricated metal products do....Machinery, except electrical do....Electrical machinery do....Transportation equipment do....

Aircraft, missiles, and parts do....

Nondurable goods industries, total do....Industries with unfilled orders $ do....Industries without unfilled orders 0 do....

By market category:Home goods and apparel do....Consumer staples doEquip, and defense prod., excl. auto do....Automotive equipment do....Construction materials and supplies do....Other materials and supplies do....

Supplementary series:Household durables doCapital goods industries do....

Nondefense doDefense do...

1130 888'367 743'290 770430 758435 9451354 213

157,753'327 990'271 305'56 685

261,987172,61589372

264,599

175,0095,923

2140910666

17,72340,09926,595404468,3159237

5247577,72444810

89,59020,678440761838563

198789,3895,813

35,0741430940,207

20,1793325976,4221046818,886

105,385

9879861977025915,938

1 888 668901,550987,118

4 888 668

'901 550IIQI 010'43,539148,201

406,790462,913447,579'200,596

167,743

'987,118'202,344'784,774

430,197'367 750'288,324429,645431,667'841,085

'57 162'323,565'248 166'75,399

445 185'383 308'297 016474 193457 168'890 530

'64 777'337 497'272 339'65 158

257,601169 02388578

260,426

171 5715,677

192289 122

17,81936,71128,154405289,4609014

516407737242559

88,85520,797393168998729

195828,2325,673

36,0661448538304

20,9463214373,2571162619,134

103,320

10093831916543217759

2,081 2001,053 6711,027,529

'2 081 200

4053671423394'51,282'59,618

419,455480,874465573'254,004'81,899

4,027,529'222,706'804,823

445,891'383 242'310,882476,620456,572'907,993

'65 384'354,712'273 162'81^550

1168531 17523790129221227371 152

5,21127 188218795309

259,984172,01087974

257,748

170,3685,802

2058710017

17,30538,53426,212393568,3818941

5054876,27743543

87,38020,533424562598323

194728,6515,654

34,4721436938539

19,8823258174,0001033718,712

102,236

9765837566697416,782

166,40084,16682,234

165 869

828659 1853,6564,584

9,28814,33912,86020,3507,444

83,00417,89665,108

11,69631 17526,22913,17512,21871,376

523129,269219607,309

117513203823322137951284672851

523726622213875235

260,272172,77087502

258,281

171 0655,752

205789949

17,32738,34626,488398678,4718997

508057675243508

87,21620,514420163788372

193408,5985,672

34,4111421138594

19,9253254074,2921052518,662

102,337

9795841576697217,185

167 48482,84384,641

168 090

8328697454,0204,685

9,93214,6591363218,1674,280

84,80418,29366,511

12,0543204623,43113,90112,62774,031

553126,654218494805

120463213725198145371333074508

543928647232655382

257,793170 80386990

257,661

170 1545,725

203359817

17,37138,02126,739393488,3908867

505647621143379

87,50720,344426964828383

193408,6155,727

34,7361426638505

20,1863252373,4441044718,827

102,234

98618348466 18917295

183 47293,92889,544

175 877

8946010 1274,0395,026

9,84515,3771330822,7387,954

86,41718,69267,725

12,0923210027^58014,76913,32176,015

547531,51923827

7^692

122643166924,892143511304975 183

5,44228158225815577

257,219169,77687443

257,699

169,6795,739

200819711

17,51337,46326,80139,3138,5198884

5020676,18943284

88,02020,343446065838366

194888,5905,740

34,6061446838,946

20,1633264273,1021056819,019

102,205

975282,9286552817,400

160,11178,15381,958

174 451

87878103114,3224,918

9,79815,12214,45020,3915,421

86,57318,70167,872

12,4363164525.32514,68612,88477,475

561228,810220606J50

124203226524,547155171336775996

546227996225145482

258,403170,43887965

259,074

170 2835,705

199629521

17,60837,39827,061395808,5258957

507597633543189

88,79121,054421766788412

196698,4755,721

35,39414441OQ QCC

20,2503280973,2541065819,149

102,954

976783 1156531217,803

172,27183,83988,432

176 360

88820107734,5195,212

10,18015,2071385421,1596,033

87,54018,98468,556

12,4683227324,60816,07113,42877,512

551027,990228875^103

1248932 34525524156271377177765

559528948234825466

257,216169,05688160

259,168

170 0845,685

197829401

17,54137,17427,175396878,5788937

508217640142862

89,08421,025420068148489

195668,6745,701

35,7311449038863

20,4483220973,1481063219,307

103,424

9848830636555517508

187 60094,73192,869

180 336

91 509109984,8434,942

10,52416,9441435020,4986,179

88,82718,88069,947

12,44132 36627,26215,49213,66979,106

551430,449252955!l54

126013195225,1251541213,74878486

5,7022874923 1095640

258,831169,33189500

259,569

170,2195,694

196689371

17,35237,04227,347398098,7298949

509097678842522

89,35020,783

4 120

8640196498,6805,724

35,6821464739021

20,65032 12873,2231077219,217

103,579

9906830706571217358

189 5329952990,003

182 911

94776112734,9625,138

10,59117,0731505522,5517,672

88,13519,17768,958

12,5293193427,96715,81413,73780,930

564532,06525499&566

128503215126,2811629413,94379356

5,8282982524 1385687

259,223169,57589648

259,873

170,6565,688

197009,402

17,66637,03227,516396468,9199023

51 17476,58242900

89,21720,680405069548755

197008,4625,723

35,5581484138,818

20,6833222373,04511 03119,275

103,616

9860826316526817,363

183 56395,60687,957

186 606

9799112 1474,9995,935

10,73616,1151480125,7178,308

88,61519,47069,145

12,87732 17630,00916,61513,86481,065

582633,684246809!004

128783334927441177751391980990

585531 123254455678

257,601169 02388578

260,426

171 5715,677

192289 122

17,81936,71128,154405289,4609014

516407737242559

8885520,797393168998729

195828,2325,673

36,0661448538304

20,9463214373,25711 62619,134

103,320

10093831916543217759

184 3799712487,255

188 374

9844411 8094,8365,683

10,77916,4151536925,1678,477

89,93019,71270,218

13,0243333027,58918,06013,82482,547

5 98032,493248937[600

132893285625971188181395979513

598929810240925718

260,807170 75090057

260,884

171 5495,600

190098893

17,76536,92228,127407169,6178828

519107705842581

8933520,996387069518829

1950981655,684

364861465638 193

21,2833249773,4451172019,047

102,892

10144832786546617812

178 2849400584,279

188 671

9943911 6224,8485,361

10,98617,15915658249316,423

89,23220,03569,197

13,5913283927,55819,04213,93781,704

6 29931,701250936,608

130703247726,409185941464379812

5,9303001024 1585852

265,548174 28891260

264,074

173 2035,596

194349139

17,89237,08928,471412069,7519020

5222878 17342802

90,87121,354383169608898

198408,7395,797

37,0631473939069

21,3653286574,02511 94519,199

104,675

10 161838396562218217

194 643104 61190,032

191 336

102 34511 4424,7735,316

11,41117,2151614326,7027,487

88,99120,14168,850

13,4403250030,33518,79114,77381,497

624934,30727 0187,289

43 124'33 699'27,193'17 99644 177r82 290

r6,043r30 967r25 236

r5731

r268,783176 910r91 873

r267,379

175 751r5,687

19 886r9329

18,034r37,444r28,909r42 082'9,934r9087

r52 866r79 926r42 959r91 628r21,629

r3771'7066'8914

'20 357'8319'5,900

'36,956'14 759'39 913

'21,695'33 173'74,849'12 16719,298106,197

'10 391'85 207'66 670'18 537

'207 546'113 734'93,812

'196 144

104 850'11 324'4,655'5,309

'10,93118,303'16 892'28 44411,263

'91,29419,658'71,636

12,802'33 637'33,46917,871'14 283'84,082

'5 707'38,399'26 86011,539

125993376626,846165851433382598

5,91030779248365943

272,723180 04092683

270 434

178 3745764

203429447

18,2323786729,293427409,9609188

532428162243510

9206021,27636757 1329028

2047089255,776

367151497740368

21,9983293476,1251220319,664

107 510

10594864076750818899

189 95599 18190,774

189 148

97 64211 86147465,847

1081416,83414823237797,891

91,50620,02671480

12,54033 76827,52316,7571434684,214

5 82132,19525 8296.366




1982 1983

Annual

1983


1984


GENERAL BUSINESS INDICATORS—ContinuedMANUFACTURERS' SALES, INVENTORIES,

AND ORDERS ft— Continued

Unfilled orders, end of year or month (unadjusted),total mil $

Durable goods industries, total do....Nondur goods ind with, unfilled orders $ do

Unfilled orders, end of year or month (seasonallyadjusted) total . . . mil $

By industry group:Durable goods industries total # do

Primary metals doBlast furnaces steel mills doNonferrous and other primary met do..:.

Fabricated metal products doMachinery, except electrical doElectrical machinery doTransportation equipment do

Aircraft, missiles, and parts do

Nondur. goods ind with unfilled orders $ do

By market category:Home goods and apparel * do....Consumer staples * doEquip, and defense prod., excl. auto * doAutomotive equipment * do....Construction materials and supplies do....Other materials and supplies do

Supplementary series:Household durables doCapital goods industries do

Nondefense doDefense do

BUSINESS INCORPORATIONS @

New incorporations (50 States and Dist. Col.):Unadjusted numberSeasonally adjusted do....

INDUSTRIAL AND COMMERCIALFAILURES ®

Failures, total number..Commercial service doConstruction do....Manufacturing and mining doRetail trade doWholesale trade do....

Liabilities (current), total thous. $..Commercial service doConstruction do....Manufacturing and mining do....Retail trade doWholesale trade do....

Failure annual rate (seasonally adjusted)No. per 10,000 concerns..

294 147285,266

8881

296 147

287 01415 14568436,155

216465575960333

121 20393037

9 133

3,477799

183 0565,246

12,86690703

3057219,762123 10896654

566,942

(2)

(2)

327 947317,42310524

330 122

319 30320817100948,195

2053458363CQ QQC

134 467103 890

10819

4,234728

196 6567,618

12,276108 610

3715236 703123 942112 761

600 400

307 750297 73310017

303 067

293 3551701177677,033

210575442461 966

125 31597010

9712

3612764

185 2165,518

12,89595062

3182223 107118 873104 234

4929448903

306 981296,84010141

304 554

294 6301724879157,051

210685481863044

124 58495735

9924

3,915772

185 3255,624

12,67696242

3476223 139119 335103 804

5076350,211

308 479298,32310156

308 675

298 4961762579607,328

210265522063380

126 83197316

10179

3961735

187 7075,856

12,66797749

3512226 Oil119 897106 114

5435750,992

310 259299,80610453

311 718

301 2981798282327,375

209035498265039

127 60597039

10420

4133711

188 1406191

12,502100 041

3682226 663119 376107 287

4772648601

310 881300,27210609

313 967

303 3891863585637,748

208565517666 131

127 77697 101

10578

4 181719

188 2016,745

12,563101 558

3730226 657119 749106 908

5351552,828

312 599301,81410785

316 782

305 9351934791407,777

207645670466910

127*2 1197447

10847

4133740

189 9396,610

12,461102 899

3649228 158121 562106*596

4989050445

319 340308,60810732

322 369

311 5301998996967,848

206745818968371

129*15399487

10839

4061722

192 7817012

12,450105 343

3592231 474123 952107 522

4933150441

323,191312,64210549

328,099

317 20920,971100538,460

2064458,39269206

132 831101 605

10890

4,088747

196 5097,333

12,371107 051

3590235 333124 494110 839

4792451,642

327 947317,42310524

330 122

319 30320817100948,195

20 53458363CQ QQO

134*467103 890

10819

4234728

196 6567618

12,276108610

3715236 703123 942112 761

5196951557

336 515325,61410901

334 385

323 45721656106078,392

206165919571325

135 174104 419

10928

4537711

198 2407842

12,254110 801

4026238 591124 941113 650

5288553044

344 503333,27811225

340 725

329 51222127108168,533

209425993073254

137 621105 846

11213

4909735

202 1688039

12,385112 489

4346242 889127 802115 087

5150153 591

'354,432'343,28411 148

r348 384r337 369r21,88010 720

r8,275r20 896'61 205r75 020142 845111 450

11 015

r4 589r672

'208 444r7,913

12,489114 277

r4 012'250 319129 425120 894

356 394345,27311 121

350 811

340 01922,546107668,793

20 81861,21575 281

144 511113 412

10792

4531675

209 1208085

12,502115 898

3924251 736130 419121*317

COMMODITY PRICESPRICES RECEIVED AND PAID BY

FARMERS f

Prices received, all farm products 1910-14=100..

Crops # doCommercial vegetables doCotton doFeed grains and hay . . doFood, grains doFruit doTobacco do....

Livestock and products # doDairy products do....Mfi3t animals doPoultry and eggs do

Prices paid:Production items do....All commodities and services, interest, taxes, and

wage rates (parity index) 1910-14=100..

Parity ratio § . do .

CONSUMER PRICES(U.S. Department of Labor Indexes)


ALL ITEMS, WAGE EARNERS ANDCLERICAL WORKERS, REVISED(CPI-W) 1967=100..

ALL ITEMS, ALL URBAN CONSUMERS(CPI-U)0 1967=100..Special group indexes:

All items less shelter do....All items less food 0 doAll items less medical care 0 do....

609

524630469378401649

1,489

696831876252

865

1,076

57

288.6

289.1

273.32884286.8

616

555654534453407474

1,513

678829830269

884

1,105

56

297.4

298.4

283.52983295.1

622

549749510447423464

1,517

698826891236

885

1,102

56

294.9

295.5

280.82947292.3

624

559701537466423476

1,526

691813874252

888

1,106

56

296.3

297.1

282.42965293.9

612

548698528460396475

1,521

679807848257

887

1,107

55

297.2

298.1

283.42978294.9

601

545582566464380441

1,521

659807806262

881

1,104

54

298.2

299.3

284.52993296.0

635

601595566490410597

1,465

669813813278

886

1,108

57

299.5

300.3

285.43005297.0

621

583619533490414394

1570

660826781294

889

1,112

56

300.8

301.8

286.83023298.5

614

579670540476412433

1,521

649844758283

885

1,110

55

301.3

302.6

287.53032299.3

615

579657564476405443

1,478

651850742312

891

1,116

55

301.4

303.1

287.83039299.7

641

593722568476397527

1,465

689844804335

895

1,119

57

301.5

303.5

288.13040300.0

660

599815529479399479

1469

724832853373

901

1,128

59

302.7

305.2

289.83048301.6

658

592843555473391473

1457

726820869364

903

1,132

58

303.3

306.6

291.43059302.9

663

601771595483399481

1448

727807890339

910

1,138

58

303.3

307.3

291.93068303.6

r665r605r677r575r498'412r497

1444r725801

r881353

r912

1,141

58

304.1

308.8

293.23086305.1

659

621563629507406595

1519

697789861303

910

1,141

58

305.4

309.7

294.03100306.0




1982 1983

Annual

1983


1984


COMMODITY PRICES—ContinuedCONSUMER PRICES— Continued

(U.S. Department of Labor Indexes) — Continued


All items (CPI-U)— ContinuedCommodities 0 1967—100

Nondurables do....Nondurables less food do....

Durables 0 . doCommodities less food 0 do....Services 0 do

Food # do....Food at home do

Housing 0 doShelter #0 do....

Rent residential doHomeowners' cost * Dec. 1982—100..

Fuel and utilities # 1967—100Fuel oil, coal, and bottled gas do....Gas (piped) and electricity do....

Household furnishings and operation 0 do....

Apparel and upkeep -. do....Transportation do....

Private doNew cars do....Used cars do....

Public doMedical care do....

Seasonally Adjusted *

All items percent change from previous month 0Commodities 0 1967 — 100Commodities less food 0 doFood do....

Food at home do

Apparel and upkeep do

Transportation doPrivate do....

New cars do

Services 0 do

PRODUCER PRICES §(U.S. Department of Labor Indexes)


All commodities 1967=100..By stage of processing:

Crude materials for further processing do....Intermediate materials, supplies, etc do....Finished goods $ do

Finished consumer goods » do....Capital equipment do....

By durability of product:Durable goods doNondurable goods do....Total manufactures do

Durable manufactures doNondurable manufactures do

Farm prod., processed foods and feeds do....Farm products doFoods and feeds, processed do....

Industrial commodities do

Chemicals and allied products do....Fuels and related prod., and power do....Furniture and household durables do....Hides, skins, and leather products do....Lumber and wood products doMachinery 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 equipment # ....Dec. 1968=100..

Motor vehicles and equip 1967=100..

Seasonally Adjusted f

Finished goods, percent change from previousmonth

By stage of processing:Crude materials for further processing 1967=100..Intermediate materials, supplies, etc do....Finished goods # do

Finished consumer goods doFoods do....Finished goods exc foods do

Durable do.. .Nondurable do

Capital equipment do

PURCHASING POWER OF THE DOLLAR

As measured by:Producer prices . . 1967—$! 00Consumer prices 0 do....

263.8273.6261.6241 1250.93333

285.72792

3147337.02240

3508667.9393.8233.2

191.8291.52875197.6296.4346.0328.7

299.3

319.5310.42807281.0279.4

2790315.3292727983064

248.92424251.5

3123

292.3693.2206.9262.62847278.8301.6

320.2288.7241.42046249.7251.3

03560.346

2715279.0266.32530259.03449

291.72822

3231344.82369102.53703628.0428.7238.5

196.5298.42939202.6329.7362.6357.3

303.1

323.6'312.32852284.6

r287.2

2867'315.7295728733044

253.92482'255.9

'3157

'293.0'664.7'214.0'271.1'307 1286.4

'307.2

'325.2'2981'243.2'2051256.7256.8

03510.335

269.2277.3263.0248.7255.43412

291.92834

3203341.72345101.73636610.6420.5239.0

195.5292.32875201.1312.7361.1353.5

0.72690255.5291.52829

1947

2937289.12014

3419

300.6

325.8308.72831282.3286.2

2853312.4292728602997

254.72505256.0

3124

291.3644.8212.8267.43072285.4304.6

324.12954243.02035255.6255.9

0.0

323.2307.928332826263.12877232732902859

03530338

270.9279.3266.32495257.63426

292.42838

321.8342.72351102.03693621.0429.1238.4

196.1296.22917201.6317.1359.2354.3

0.427042574292.12834

1957

2964292.1201 1

3428

301.5

325.8309.72842283.6286.5

2860313.5293728673010

254.72504256.1

3136

291.1651.9213.6269.43080286.0306.1

324.12960243.22043255.8256.2

0.3

321.6309.128412835262.02895233133202865

03520337

271.6279.7267.32512258.93440

292.0283.0

323.1343.62359102.23736620.0437.4238.6

195.6298.32938201.6322.7361.2355.4

0.22707258.1291.52821

1963

2973292.92013

3439

302.4

323.3311.32850284.6286.7

2867314.5295028733031

252.52474254.3

3153

290.8665.5214.0271.23148286.2306.3

324.52970243.12047256.1256.5

0.4

321.1311.328522847260.52921233833602870

03510335

2725280.3268.4252.9260.23456

292.0282.8

324.5345.32371102.73755619.3440.5238.9

195.0300.42960201.4329.6363.2357.7

0.42716259.5291.22815

1973

2987294.22017

3455

303.2

320.6312.82857285.2287.2

2874315.4296128803045

251.52443254.4

3165

293.7668.7214.8272.33146287.4307.3

325.12978243.42053256.2256.6

00

317.9312.228522846259.32925234133672875

03500334

273.4281.0269.6254.3261.43468

292.2282.5

324.8346.62382103.03751619.0439.1238.0

197.3302.42980202.1336.8365.0360.0

0.4272 6260.8291.72816

1979

3008296.42033

3468

304.7

327.1314.02861285.7287.7

2878317.8296928833059

255.52535255.5

3173

294.4671.7214.927473139287.4308.2

326.32988243.72060256.8256.8

04

325.0313.428632855260.22935234733792888

03500333

274.5281.8270.6256.4262.93490

292.6282.5

326.4348.52395103.53764623.2440.5238.9

200.4303.72992202.7343.9366.6361.2

0.42736262.0292.32818

1982

3028298.42049

3482

305,3

328.5315.52851285.1285.1

2868319.7297228723078

259.12564259.6

3171

295.9672.3215.427443056287.9310.7

327.22999243.22062250.4249.1

01

328.8315328662861262.12934234433792885

03510331

275.0281.7270.2258.7263.63502

292.9282.3

326.8349.82404103.9374.4624.7435.6239.4

200.7305.03004204.3350.4368.2362.9

0.42745262.8293.52828

1982

3044300.02055

3495

306.0

324.8315.62876287.0289.9

2892319.1298528963077

257.52552257.8

3185

2955669.5215.3273730562876310.9

328.03022244.42070260.6260.6

02

329.23162287 1286626482928233033812886

03480330

275.2281.1269.5261.0264.13510

292.5281.4

327.0351.1241.3104.3371.3623.9428.2239.9

200.7306.33017206.2356.1370.3364.9

0.42751263.4294.12830

1985

3055301.12053

3514

305.5

324.0315.52868285.9290.0

2893318.1298428983074

256.0251 0257.6

3183

2964663.7215.7277 030492880310.9

32893036243.62077260.5260.5

-01

330.431662869286326392929233833752890

03490330

275.5281.2268.5261.8263.83516

293.9283.0

327.4351.8242.0104.5370.6623.9427.5240.5

199.3306.3301.8207.0357.6369.0366.2

0.22758263.7295.42844

1985

3061301.72057

3524

306.1

327.5315.72872286.3290.4

2901318.4298829053075

257.92540259.0

3184

2977658.0215.7277330872888311.9

32893040243.82078260.7260.6

02

333.631712874286726582924234033652898

03480329

276.8283.2267.4261.4263.0353.9

299.4290.2

329.2353.2242.9104.9376.0642.8427.3240.4

196.4306.0300.9207.2357.3378.2369.5

0.6277 7263.9300.22912

1990

3067301.72056

3541

'308.0

'333.5'316.3'2895'288.9'291.6

'2910'321.23000'2913'3091

264.4'2634'263.8

'3191

'2981'652.1'216.8'2791'3091'2897'312.9

'3301'3091'244.8'2082'261.5'261.1

06

'336.0'317028912887

'2728292023403357

'2905

'03450328

278.3285.3269.1260.9263.8355.3

302.1293.6

331.0354.0243.6105.1383.0688.6429.0240.4

196.2305.8300.8207.2357.2377.4373.2

0.42786264.3302.22937

1985

3066301.72064

3556

308.8

332.8317.42906290.1292.5

2922321.7301029243100

2635261 52635

3204

2967656.7216.9283231562904314.6

33233105245.42093262.3261.2

04

331.131742902289727452926235333592919

03440326

278.7285.5269.3262.2264.4356.5

302.2293.1

321.5355.5244.8105.6380.1660.0429.5241.2

198.8306.9301.9207.2362.2377.4374.5

0.22791265.1301.82927

1986

3094304.62074

3567

311.1

339.4319.52917291.4292.7

2932325.0302729333125

268326742678

3219

3008659.6217.4287031602912316.6

33363127246.12099262.4261.3

05

337.73191291 6291327672938237333632929

03430325

280.1286.3270.7265.2266.5358.1

302.3292.8

333.2357.8246.4106.23809650.7432.3242.3

199.2309.6304.8207.4370.0377.1375.7

0.52801266.7301.72922

1985

3112306.62076

3586

311.4

340.1320.22914290.6294.1

2940324.9303029413123

267926542682

3225

3018656.5217.9287431542924317.8

33563153246.52096262.9261.8

00

337.53193291 629092751294 i237233702938

03430324

280.4286.1271.1267.0267.4359.9

301.4290.7

334.6358.9247.2106.53855649.2441 .4242.4

198.9312.2307.4207.6378.0379.8376.8

0.22801267.2300.92903

1986

3127307.92072

3599

311.7

338.5321082915290.72943

29373215.6303 729393140

2616326082683

32133

3C>256(612.7218.9289230882928317.1

33733170247.42105262.7261.5

00

334.33202291 5290627192952236833932944

03430323



Unless otherwise stated in footnotes below, datathrough 1982 and methodological notes are asshown hi BUSINESS STATISTICS: 1982

1982 1983

Annual

1983


1984


CONSTRUCTION AND REAL ESTATECONSTRUCTION PUT IN PLACE

New construction (unadjusted), total mil. $..

Private total # doResidential do ..

New housing units do

Nonresidential buildings, except farm andpublic utilities total # mil $

Industrial doCommercial do

Public utilities:Telephone and telegraph do...,

Public total # do

Buildings (excluding military) # do...Housing and redevelopment doIndustrial....' do

Military facilities do .Highways and streets do

New construction (seasonally adjusted at annualrates) total bil $

Private total # do

Residential doNew housing units do

Nonresidential buildings, except farm andpublic utilities total # bil $

Industrial doCommercial do....

Public utilities:Telephone and telegraph do.. .

Public, total # do....

Buildings (excluding military) # doHousing and redevelopment doIndustrial do....

Military facilities do. ..Highways and streets do

CONSTRUCTION CONTRACTS

Construction contracts in 50 States (F.W. DodgeDivision, McGraw-Hill):

Valuation total mil $Index (mo. data seas, adj.) 1977=100..

Public ownership mil $Private ownership doBy type of building:

Nonresidential doResidential do

Non-building construction do....New construction planning

(Engineering News-Record) § do

HOUSING STARTS AND PERMITS

New housing units started:Unadjusted:

Total (private and public) thousPrivately owned do

One-family structures do....

Seasonally adjusted at annual rates: tTotal privately owned do....

One-family structures do

New private housing units authorized by buildingpermits (16,000 permit-issuing places): $

Monthly data are seas. adj. at annual rates:Total thous

One-family structures do....

Manufacturers' shipments of mobile homes @Unadjusted thousSeasonally adjusted at annual rates do

CONSTRUCTION COST INDEXES

Dept. of Commerce composite 1977=100..

American Appraisal Co., The:Average 30 cities 1913—100

Atlanta do....New York doSan Francisco do....St. Louis do....

Boeckh indexes:Average, 20 cities:

Apartments hotels office buildings 1977 — 100Commercial and factory buildings doResidences do

Engineering News-Record:Building 1967=100..Construction do

Federal Highway Adm.— Highway construction:Composite (avg. for vear or qtr.) 1977=100..

232,049

180 97974,81051916

651341734337284

7,110

51070

16,99716581632

220513521

156 240412

41256114 984

595945921037,436

149,206

1072010622

662.6

1000546

2396

154.1

150015191475

330.63561

146.8

262,667

212 287110,70885189

61 11713 14436269

6,43050381

1723116781800

253614 177

192 751uss

45308147 442

619059320137,645

162 576

17124170301,067.6

1605902

2956

157.1

1596159.91562

352.93786

146.5

19,597

160718,2216066

473310742770

501

3526

1332136137

212770

2474

1995

102.0773

57613233.6

63

47.9

168161.6

2.8129

16315'129

363812678

439478594,062

10930

1364135893.2

1,5491030

1556860

25 1284

156.8

347.43725

21,461

1738292226799

479710682812

547

4079

1423137154

1991 115

2548

2060

107.5822

57613033.3

6.6

48.7

173161.7

2.3130

r!9 205150

'4410r!4 795

'5 201r8594'5,410

11 165

17551749114.9

17791 150

1660943

268289

155.3

1577159.01554

347.93726

23,578

18966101677743

51841 1313108

581

4612

1523133152

1611 415

2643

2147

113.5879

60013135.9

6.5

49.6

174161.7

1.9129

20339151

507015270

6334101583,847

13185

17381732114.2

17431 124

17641,010

295299

154.2

*

353.53792

143.1

24,389

1955810,9918361

515810663135

517

4831

1,537120166

2391547

2742

2228

122.3927

59312235.9

6.3

51.4

1771.42.0

2.7141

17028137

416212866

5312' 84713,246

9729

16201616100.4

17931048

1752930

234296

156.8

1620161.61578

357.3382.5

26,123

2054911,6008753

554712443242

397

5574

1,683151137

2072023

2820

2285

127.1948

62514236.3

4.3

53.5

183181.7

2.3159

18597'154

462113976

600692573,334

13206

17771768109.9

18731 124

1671900

302307

158.4

359.43847

26,507

2101511,8728884

54891 1563236

587

5492

1600147200

2531866

2854

2326

129.1950

62613236.9

6.5

52.8

172181.9

2.7159

17388143

436913019

543786443,308

12902

1568154997.2

16791038

1540864

28 1305

158.9

163216251585

359.7385*6

146.8

24,352

1965110,7218569

5293967

3231

588

4701

1,456151143

1921694

2656

2170

116.5921

58910536.1

6.5

48.6

168182.0

2.5146

16227139

380612421

579582212,210

12744

1599159391.9

16721017

1 650905

268308

158.5

357.63842

23,514

190199,9528337

5,45810583321

606

4495

1,430141145

2681326

2658

2149

110.4919

62412.338.1

6.9

50.9

165162.1

3.2144

15365145

330712058

551175752,280

16795

1364136081.9

17301074

1649919

235313

157.3

163316261588

358.33848

21,458

1784084847259

52871 1113185

662

3617

1,312136135

233802

2653

2155

108.0926

64012939.0

8.0

49.8

1601616

30148

13422'134

313810284

474164822,200

24714

1085108361.0

16941021

1 602913

187310

158.6

356.13826

149.7

19194

1601982126705

4957961

3010

391

3175

1,259110121

216590

2757

2250

116.9952

67013140.9

5.9

50.71721414

28137

13751'150

270011051

530066001,851

12685

1092109167.7

19801301

1 799989

200314

159.9

164916411627

355.53825

'19,782

'16 558r8,485r6675

513010103141

464

3224

1,241120136

218613

'2922

'2394

'128.5'1005

69713942.7

6.6

52.8

1701620

27149

14 155150

379010365

424968003,106

17259

1304130081.0

22621463

1 9021,083

222293

1603

356.23829

'22,530

'18 939,955

•7704

'5661'1 132'3476

531

'3591

'1,306'123137

251'734

'3020

'2469

'133.3'1020

'731'145'45.2

6.2

'55.2

'17 1'1516

32'166

17577144

386013716

584988062,921

16851

'138 1'1375'87.8

'1662'1071

1 727974

255287

1614

165 116461628

357.13834

149.3

23,893

19915105848100

604410883876

3978

1,374114155

2471009

3025

2482

13191033

74013 4474

54.3

1731318

32167

17425145

371613710

540593302,690

13619

1709'1706'106.0

'1990rl 191

'1758'957

258287

1619

358.53847

22326168

560816719

7212107994,315

1798111.3

17821 093

1 735898

1664166 11633

2358.123856




1982 1983

Annual

1983


1984


CONSTRUCTION AND REAL ESTATE—ContinuedREAL ESTATE 0

Mortgage applications for new home construction:FHA net applications .... thous units

Seasonally adjusted annual rates do....

Requests for VA appraisals 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 all savings and loanassociations, estimated total mil. $..

By purpose of loan:Home construction doHome purchase . . doAll other Durooses do....

99.8

155.0

8 087 075,428.27

66,004

54,298

1176521,77920.754

1761

262.8

26 571 8217 896.60

58,953

135,290

260965398255.212

16.5187

22.7249

2 447 061 189.71

59,371

10,475

227338394.363

15 1156

22.4245

1 637 701 910 77

58,628

10,997

2 25244384.307

219.02212

26.3293

3 427 901,541.01

58,800

14,186

260557835.798

16.8209

22.7266

2 464 191 223.94

58,264

12,854

230255125.040

20.3218

28.0288

2 174 872,193 18

57,377

13,992

248163275.184

145168

21.4255

3 933 792,091.70

57,862

13,637

243756485.552

11.9146

17.3205

2 190.421,934.18

58,560

11,070

21554,8104.105

11.2148

17.9204

2 674.401,598.29

57,712

11,175

21624,5164.497

9.6139

16.5259

1,580.281,447.58

58,953

14,483

276052296.494

9.7136

15.0201

1,169.611,543.78

57,397

10,249

178839534.508

10.3134

21.2260

1,516.841,449.02

57,171

10,367

19043,7024.761

12.9139

24.3263

2,431.431,201.61

57,608

r!3,593r2368r5,004'6.221

11.4128

17.8193

1,184.701,113.53

59,424

13,218

22655,4215.532

11.1116

19.5214

1,229.581,080.92

€11,627

DOMESTIC TRADEADVERTISING

Magazine advertising (Publishers AdvertisingReport, Inc.):

Cost total mil $Apparel and accessories doAutomotive incl accessories doBuilding materials doDrugs and toiletries do....Foods soft drinks confectionery do

Beer wine liquors doHoushold equip., supplies, furnishings .. . do....Industrial materials do....Soaps cleansers etc doSmoking materials. . do....All other do....

Newspaper advertising expenditures (NewspaperAdvertising Bureau, Inc.):

Total * mil $Classified doNational . . . doRetail .. do

WHOLESALE TRADE f

Merchant wholesalers sales (unadj.), total mil. $..Durable goods establishments do....Nondurable goods establishments do....

Merchant wholesalers inventories, book value,end of year or month (unadj.), total mil. $

Durable goods establishments do....Nondurable goods establishments .. ... . do....

RETAIL TRADE J

All retail stores:Estimated sales (unadj ) total mil $

Durable goods stores & .. doBuilding materials, hardware, garden supply,

and mobile home dealers mil ij>Automotive dealers ... doFurniture, home furn., and equip do....

Nondurable goods stores . . doGeneral merch. group stores do....Food stores do....Gasoline service stations , do....

Apparel and accessory stores do....Eating and drinking places do....Drug and proprietary stores do....Liquor stores . do....

Estimated sales (seas, adj.), total do....

Durable goods stores $ doBuilding materials, hardware, garden supply,

and mobile home dealers # mil. $..Building materials and supply stores doHardware stores do....

Automotive dealers do....Motor vehicle and miscellaneous

auto dealers . do. .Auto and home supply stores do....

Furniture, home furn., and equip. # do....Furniture home furnishings stores doHousehold appliance, radio, TV do....

3428915573335522

330.62638

2576147.450.9266

358.61,452.0

1769448522452

10,390

1,137,175467,107670,068

116,76575,63341,132

1 074 561

324 489

51301182 60746,106

750 072132,581249,257103,547

51,387104,71535,96719,394

3939120624045523

383.62923

2426175.743.7253

397.81,714.9

2058260062734

11841

1,183,790504,810678,980

119 42175,43243989

1 173 966

385 141

59873221 68751,774

788 825142,997259,441103,121

54,005115,71038,76619690

330917336250

36.2207

19617.23.326

36.0136.8

1584472226886

90,80338,47952,324

115 1157404841067

93856

30826

4823184543912

6303010,591213928,227

4,2669,5823,0941530

95,125

30671

4,7983486'767

17,689

160131,676

4 14324271,382

374715 745670

39.5249

2051964.426

382156.3

1825532255

1038

98,3044087057,434

112 62473,22839396

97831

33201

5721196443953

6463011,297215058,768

4,2649,8983,1471555

97239

31705

5,0323582

808

18,350

165901760

420124641,414

295590

34625

30.8216

21511.52.915

36.4121.6

1742522228992

103,03244,85858,174

112 13073,37138759

100 605

35568

5999212934,153

6503711,26321,8689,013

4,17810,0703,1641608

98,638

32790

5,1313656

816

19,236

174551,781

4,22424771,420

249389

24534

27.3232

14610.62.51 1

35.398.0

1612540192880

94,67240,81153,861

112 01973,33938680

99444

33387

5591196214,279

6605710,66523,0499,368

4,04310,5203,1261703

98,832

32597

5,1173688

825

18,901

170921,809

4,34025481,465

250020022629

28.6182

1307.22.721

29.9103.0

1686539194954

103,06244,80958,253

112 42073,36839052

100 131

33587

5660192074544

6654411,52121 9219,356

4,55510,4203,2011656

98277

31951

5,0943676

812

18,053

162371816

440826211,454

347632619680

37.1227

1731824.52 1

280157.4

1690515220956

102,86244,75458,108

114 99374,76940224

97926

32769

5446186594,342

65 15711,199218788,839

4,3129,9413,1341611

99537

32905

50423638

809

18857

170341823

441326381,444

4489242477

4,,438.5346

25622.05.736

33.3209.4

2074625282

1,166

106,05146,30059,751

117 77874,58243,196

100 658

33593

5557192194,428

6706512,06321,7808,836

4,61710,1133,1681603

100,923

33882

5,1023681

805

19620

177801,840

4,47627151,444

447.02204654.3

37.3385

30024.96.028

31.9202.8

2,016516273

1,227

105,76245,62060,142

118,56674,41744,149

103 865

34002

5 103190364,899

6986314,75521,5018,569

5,1699,4943,2511689

101,896

34641

5,1883751

826

20286

183881,898

4,51026841,500

36821694012.1

29.4262

37216.34.317

31.2163.1

1872440206

1226

107,36145,62161,740

119 42175,43243989

125 759

38 188

4863189106,207

8757123,492243048,917

7,9109,7244,4282470

102 438

35532

52933826

843

21 164

192011963

462927371,557

265274

3303.3

27.7184

867.82.521

32.0122.4

1589539224825

104,31343,16561,148

119 81875,18544633

93089

31 170

4 141187924,279

619198,853

21 1108,340

3,7659,2103,2491481

106 602

37 127

54944042

874

22033

200411992

479128291,622

32511743492.6

34.1237

1368.03.417

25.3160.4

1723562237924

103,18344,84858,335

121,31976,29545,024

93686

32931

4329206074,129

607559,150

208457,948

3,6309,2323,2311404

105 482

36909

56304215

830

21983

200601923

464427071,592

374.226141.15.1

35.726.2

16413.93.236

33.7167.3

r 115,399r50,634r64,765

r!22,637•78,266'44,371

104 294

'36 667r5,070

r22 801'4,594

'67 627'11,174'22 985'8,579

'4,413'10,207'3,383'1529

'103,873

'35306

'5523'4098

'814

'20 505

'18 650'1855

'4660'2723'1,593

425.12664958.8

40.6260

2052175.129

37.6185.9

108,41748,78459,633

123,80178,92144,880

'103 944

'37 158

'5692'22 794'4,430

'66 786'11,759'21 865'8,544

'4,868'10,159'3,4151502

'107 097

'37 319

'56574164

837

'22 012

'20 1511861

'490528551,685

410361

MO 200

'6,540*24 438'4,625

'70 16142,755'23 246'8,971

'4,89740,687

1 3,507

407288137 395

15648

'22 185

120 256

'4778




1982 1983

Annual

1983

Apr. May June July Aug, Sept. Oct. Nov. Dec.

1984


DOMESTIC TRADE—ContinuedRETAIL TRADE $— Continued

All retail stores — ContinuedEstimated sales (seas, adj.)— Continued

Nondurable goods stores mil $General merch group stores do

Department stores doVariety stores do....

Food stores do..Grocery stores do

Gasoline service stations do

Apparel and accessory stores # .. doMen's and boys' clothing do.Women's clothing, spec, stores, furriers do....Shoe stores do

Eating and drinking places doDrug and proprietary stores doLiquor stores do

Estimated inventories, end of year or month:Book value (unadjusted), total mil. $..

Durable goods stores # do....Building materials, hardware, garden

supply, and mobile home dealers do....Automotive dealers .... doFurniture, home furn., and equip do. .

Nondurable goods stores # do.General merch. group stores do....

Department stores doFood stores doApparel and accessory stores do....

Book value (seas, adj.), total do....Durable goods stores # do....

Building materials, hardware, gardensupply, and mobile home dealers do....

Automotive dealers doFurniture, home furn., and equip do....

Nondurable goods stores # do....General merch. group stores do....

Department stores doFood stores doApparel and accessory stores do

Firms with 11 or more stores:Estimated sales (unadjusted), total mil. $.

Durable goods stores do .Auto and home supply stores do....

Nondurable goods stores # do....General merchandise group stores do....Food 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 doDepartment stores do....Variety stores . doGrocery stores do....

Apparel and accessory stores do....Women's clothing, spec, stores, furriers . do .Shoe stores do

Drug stores and proprietary stores do....

122,16356,176

9,470254589297

6598722,561167471435010,555

125,38456,748

9,824251819,448

68,63624,9061840314 18011029

389 715

282124,059

361,503119,467135 499133 58720,1432213819,410

132,30262,820

10,3272964310132

6948224.4671829014 50110/715

135,84363,447

10,7132935010286

7239627,060201431432911208

415 631

327954,416

382,836129,045141 353139 42422,237243542l',582

6445411 4159313

751

21326200698395

4447687

1,719767

946831831604

126,61358,201

10,381263289662

6841225,427189441392210,778

127,61358,057

10,049262239750

6955625,85919 1551395011032

32663

2475361

30,1889,547

11720115721,71020331,696

33589'347

8912591

11446

1773746388

1,765

65 534116949542

765

2157220 287

8690

4560706

1,770775

95363 1851608

128 16759,440

10,43626 9039772

68 72725,677191271398310,512

129,197£18,796

10,11226 2219831

70 40126,28519 49714 11010 916

33 711

2723371

30,98810,21311 60411 4561,70420711,751

34 440363

9 139605

11,678

1811761392

1,772

65848118719721

762

21673204028675

4546685

1,747781

958132091621

128 90859,876

10,444270149918

6903225,577189941408110,597

129,78259,120

10,22926 1009918

7066226,2181952114 16611039

33799

2814393

30,98510,17511705115571,68920251,751

34557361

9308600

11627

1849783401

1,789

66235118459666

784

21915206188739

4467680

1,726769

972332531633

128,36058,546

10,272257769864

6981426,07219 2431398710,789

129,55658,614

10,282254969,984

7094226,431196761425810998

33768

2734'394

31,0349,568

12369122201,62421341,739

34646'372

9243608

11716

1832775395

1,813

66326118789709'774

21819205058851

4430657

1,706768

972932731646

129 86957,998

10,3752474110 114

7187127,175200771398811,319

130,98359,400

10,3962612610084

7158326,7761997714347ll'032

34458

2791'407

31,66710,41111 734115871,9262 1401,760

34752'387

9287'605

11704

1815762395

1,824

66632120019784

781

21943206118760

4451659

1,734783

983333061*675

134,19559,604

10,3942578110249

7459128,63621 1761433311,931

132,14260,627

10,5422716610098

7151526,6591984614 44911 140

34006

2721379

31,28510,08311 88311738

1*80220831733

35032376

9347605

11738

1854783403

1,863

67041121129*893

778

21992206698731

4570679

1,831788

992432971661

140 00561,577

10,28827 13010442

7842830,664227521477012,562

132,77761,048

10,4242797910031

7172926,6411976714 39611*307

35122

2808395

32,31410,85711 746115951,8902 1471,747

35319378

9467609

11772

1880805412

1,866

67,2551231710026

804

21,978206428673

4676696

1,895793

998333111682

143 86663,968

10,2792881010713

7989831,552236851507912,525

134,62262,441

10,4252881010281

7218127,237202441441611233

38368

3079396

35,28913,36611 803116482,19320531,844

35648382

9589622

11874

1935837414

1,893

669061233010042

786

21754204108759

4665685

1,888788

971432581699

132 30262,820

103272964310132

6948224,467182901450110,715

135,84363,447

10,7132935010286

7239627,06020 1431432911208

51970

4467414

47,50321,3531357113*2763,56020992,717

35 456385

9628614

11544

1996895413

1,813

694751283510546

836

2246821 1898751

4704698

1,901814

1026834341689

132 916'63,218r!0 433r30 20010 017r69 698r24 60918 43714 29310,744

137 977r63,749

10 800r29 69510 337r74 228'27,605r20 62314 46611 716

r30 668

'2317'316

r28,351r7,952

11 58411 4391*4291 9711,781

'37 047'381

10 099r650

12 143

'2050'907r436

1,930

685731278610489

830

22,266209588667

4747678

1,955807

1028134051583

138 310r65,990

10,923r31 96910 230r72 320r26,49819 88014 27511,384

142,731r66,513

10,956'31 84210 449r76 218'29,015'21 79814 40412 098

'30 871'2366

r311

'28 505r8,253

11 48611 3311,440'20301*785

'36 803'386

'10 061'651

'12 093

'2035'896'428

1,938

'68 567'12 374'10 152

'792

'22 444'21 086'8835

'4 794'702

1,950'809

'10 156'3400'1608

142 70767,397

11,2503244210288

7531028,297214061451012*,163

143,70466,915

1093331 86810 381

76 78929,247

1 22 0911 14 4521

12 399

35418

2 773367

32,64510,14012 67912*5251,*84822581*909

36251377

9719627

11986

2032890418

1,936

'69,778'12 83010 552

800

'22,833'21 405'8790

'5001766

2,018792

'10 200'35281645

i

*69 89312 89610654

'22,712'21 239'8873

'5096

1022713497

LABOR FORCE, EMPLOYMENT, AND EARNINGSLABOR FORCE AND POPULATION


Total noninstitutional population, persons 16years of age and over * thous

Labor force, total @ doResident armed forces * do....

Civilian noninstitutional population * do....Civilian labor force, total do ...

Employed doUnemployed do

Seasonally Adjusted 0

Civilian labor force, total doParticipation rate t percent

Employed total thousEmployment-population ratio t percent. .

Agriculture thousNonagriculture do

Unemployed, total do....Long term, 15 weeks and over do....

173 939111 872

1,668

172,271110 2049952610678

640

57.83401

96125

3,485

175 891113 226

1,676

174,215111 550100 83410717

640

-57.93383

97450

4,210

175 465111 546

1,671

173,794109 8759884011 035

110 975639

99 60657.3

339296214

113694,396

175 622111977

1,669

173,9531103089954310 765

] 10 950638

9976257.3

337496388

11,1884,510

175 793115 051

1*,668

174,125113 383101 81311 570

111 905643

100 74357.9

347997264

11,1624,486

175 970115*644

1,664

174,306113 980103 27310 707

111 825642

101 22558.1

349997726

106004,398

176 122115 260

1,682

174,440113 578103 16710411

112 117643

101 48458.2

344998035

106334,078

176 297113 892

1,695

174,602112 197102 366

9830

112 229643

101 87658.3

330898 568

103533,889

176 474113737

1,695

174,779112 042102 659

9 383

111 866640

101 97058.3

324098730

98963,655

176 636113 832

1,685

174,951112 147103 018

9 129

112 035640

102 60658.6

325799349

94293,527

176 809113 483

1,688

175,121111 795102 803

8992

112 136640

102 94158.8

335699585

91953,369

177 219112711

1,686

175,533111 025101 270

9755

112 215639

103 19058.8

327199918

90263S201

177 363113 052

1,684

175,679111 368101 961

9407

112 69364 1

103 89259.1

3395100 496

88012,984

177 510113 514

1,686

175,824111 828102 770

9 057

112 912642

104 14059.2

3281100 859

87722,873

177 662113 845

1,693

175,969112 152103 628

8 525

113 245644

104 40259.3

3393101 009

88432,855

177 813114 941

1,690

176,123113 251105 096

8 154

113 80364 6

105 28859.8

3389101 899

85142,851


445-525 0 - 8 4 - 2



1982 1983

Annual

1983


1984


LABOR FORCE, EMPLOYMENT, AND EARNINGS—ContinuedLABOR 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

WhiteBlack *Hispanic origin *Married men, spouse presentMarried women spouse presentWomen who maintain families

Industry of last job:Private nonagricultural wage and

salary workersConstruction . .Manufacturing

Durable goodsAgricultural wage and salary workers * ....

Not Seasonally AdjustedOccupation: *

Managerial and professional specialtyTechnical, sales, and administrative

supportService occupationsPrecision production, craft, and repairOperators fabricators and laborersFarming, forestry, and fishing

EMPLOYMENT t

Employees on payrolls of nonagricultural estab.:Total, not adjusted for seasonal variation ....thous..

Private sector (excl. government) do....

Seasonally Adjusted f

Total employees, nonagricultural payrolls do....Private sector (excl. government) do....

Nonmanufacturing industries do....Goods-producing do

Mining do....Construction do

Manufacturing doDurable goods do

Lumber and wood products do....Furniture and fixtures do....Stone, clay and glass products do....Primary metal industries doFabricated metal products do....Machinery except electrical doElectric and electronic equipment do....Transportation equipment doInstruments and related products do....Miscellaneous manufacturing do

Nondurable goods doFood and kindred products doTobacco manufactures do....Textile mill products do..Apparel and other textile products do....Paper and allied products do....Printing and publishing do....Chemicals and allied products do....Petroleum and coal products do....Rubber and plastics products, nee do....Leather and leather products do....

Service-producing doTransportation and public utilities do....Wholesale trade doRetail trade do....Finance, insurance, and real estate do....Services doGovernment do....

Federal . doState * do....Local * . do

Production or nonsupervisory workers on privatenonagric. payrolls, not seas, adjusted thous..

Manufacturing . . do

Seasonally Adjusted t

Production or nonsupervisory workers on privatenonagricultural payrolls thous..

Goods-producing doMining . . doConstruction do....Manufacturing . do

Durable goods do...Lumber and wood products doFurniture and fixtures ... . .. doStone, clay, and glass products do....Primary metal industries do....Fabricated metal products doMachinery, except electrical do....Electric and electronic equipment do....Transportation equipment do....Instruments and related products do....Miscellaneous manufacturing do....

97888.3

232

8618.91386.574

117

10120012.313314.7

3.3

6 110810.61678.5

r89,566r73,729

'89,566r73,729r54,948'23 813'1,128'3905

'18 781'11 039

'597'432'576^21

'1,426'2243'2,008'1734

'715'382

'7741'1635

'68'749

'1,161r662'1,272'1,075

'200'696'218

'65 753'5,082'5278

'15,179'5,341

'19 036'15,837

2739'3,639'9458

'59,487'12 742

'59,487'16 561

'821'2,998

'12 742'7,311

'488'341'435'683

'1028'1,355'1,212'1,078

'410'276

96898.1

224

8419.51386.570

122

9918411.212116.0

3.3

6310910.7155100

'90,138'74,287

'90,138'74,287'55,790'23 394

'957'3940

'18 497'10 774

'657'446'572'838

'1,373'2038'2,023'1 756

'694'371

'7724'1622

'68'743

'1,164'661

'1,295'1046

'195'718'207

'66 744'4,958'5259

'15,545'5,467

'19 665'15,851

2752'3,659'9439

'60,021'12 581

'60 021'16 284

'678'3026

'12 581'7151

'547'355'436'624r996

'1,200'1,228'1,103

'389'267

102978.5

234

892071467174

130

10520012513716.8

3.4

6311312.3170101

'89,064'72,930

'89,259'73,433'55,244'22 949

'943'3817

'18 189'10 536

'633'436'563'821

'1,345'1987'1,977'1 715

690'369

'7653'1620

'70733

'1,144'656

'1,285'1046

'198'695'206

'66 310'4,993'5204

'15,386'5,445

'19 456'15,826'2741'3,654'9431

'58,799'12 239

'59 247'15 892

'666'2911

'12 315'6942

'525'345'427608'971

'1,157'1,192'1,066

'386'265

101958.5

230

8820.31397074

127

10420012.313516.8

3.3

6411411.116179

'89,921'73,750

'89,578'73,730'55 432'23 087

'940'3849

'18 298'10 623

'643'441'567'827

'1,355'2014'1,989'1 727

'690'370

'7675'1621

'70736

'1,149'658

'1,288'1,045

'197'704'207

'66491'5*001'5220

'15,433'5,460

'19 529'15 848'2753'3,652^443

'59,576'12396

'59 519'16 014

'663'2943

'12 408'7*020

'535'350'431'614'980

'1,180'1,202'1,075

'386'267

100918.6

236

8620.31406.776

125

10118411.612516.5

3.5

6811410.71456.2

'90,738'74,765

'89,927'74,091'55,700'23 241

•939'3911

'18 391'10 686

'657'445'570830

'1,362'2020'2,006'1736

'689'371

'7705'1625

'69'743

'1,156'659

'1,294'1045

'196'712'206

'66 686'5,005'5241

'15*514'5,464

'19 626'15 836'2744'3657'9435

'60,508'12 595

'59 881'16 162

'665'3003

'12 494'7078

'548'353'435'617'986

'1,184'1,214'1,087

'386'268

95887.9

227

8219.61236.270

118

9718010.711415.0

3.6

631059.4

1417.4

'90,112'75,001

'90 274'74,452'55 931'23 414

'946'3947

'18 521'10 781

'665'454'573'838

'1,369'2039'2,024'1 757

'690'372

'7740'1626

'69'745

'1,171'661

'1,297'1046

'195'723'207

'66860'5,001'5256

'15 580'5,478

'19 723'15 822'2744'3662'9416

'60,678'12 527

'60 202'16 315

'670'3033

'12 612'7165

'555'361'437625'993

'1,201'1,229'1,109

'386'269

95878.0

228

8219.81296.369

11.8

9817.911.211715.1

3.4

6410.39.3

1388.3

'89,842'74,878

'89,918'74,110'55,513'23532

'950'3985

'18 597'10 846

'675'453'578840

'1,384'2051'2,022'1776

'694'373

'7751'1621

'66'751

'1,170'663

'1,302'1,046

'194'730'208

'66 386'4,369'5277

'15,626'5,498

'19 808'15 808'2747'3,668'9393

'60,500'12 762

'59 830'16 421

'673'3069

'12 679'7224

'564'361'442629

'1 006'1,214'1,228'1,122

'389'269

92867.8

218

8018.91316.168

12.0

9418.110.210916.5

3.2

5910.88.9

1328.2

'91,485'75,901

'91,018'75,083'56,385'23 669

'952'4019

'18 698'10 923

'680'456'581849

'1,389'2058'2,062'1780

'698'370

'7775'1624

'68753

'1,174'666

'1,305'1,047

'194'735'209

'67 349'5,046'5301

'15,671'5,503

'19 893'15 935'2774'3672'9489

'61,510'13 014

'60 748'16 532

'674'3099

'12 759'7289

'569'363'445636

'1 Oil'1,219'1,260'1,126

'393'267

888.27.5

21.6

7718.31245.763

11.4

9015.89.6

10216.2

2.7

5911.18.2

1269.2

'92,049'76,081

'91,345'75,481'56,595'23 895

'965'4044

'18 886'11 071

'690'462'587'863

'1,408'2077'2,086'1820

'702'376

'7815'1624

'68'758

'1,186'669

'1,311'1049

'192'748'210

'67 450'5,053'5322

'15 737'5,512

'19 962'15 864'2760'3667'9437

'61,649'13 082

'61 074'16 735

'685'3122

'12 928'7421

'578'368'450'651

'1 028'1,236'1,281'1,160

'397'272

84787.2

202

7317.71235.560

10.5

861568.990

15.7

2.7

559.97.9

127,10.8

'92,406'76,294

'91,688'75,814'56,796'24 058

'967'4073

'19 018'11 170

'695'467'589'869

'1,420'2106'2,109'1832

'705'378

'7848'1629

'66'760

'1,195'671

'1,317'1050

'192'758'210

'67 630'5,043'5344

'15,805'5,530

'20 034'15 874'2759'3669'9446

'61,830'13 117

'61 371'16 881

'686'3147

'13 048'7511

'583'373'453'657

'1 037'1,261'1,300'1,173

'399'275

827.47.1

201

7117.81165.261

10.9

831638.383

15.6

2.6

529.68.4

13012.0

'92,645'76,560

'92,026'76,157'57,014'24 198

'969'4086

'19 143'11 266

'698'470'592'877

'1,431'2122'2,132'1855

'707'382

'7877'1,631

'67'762

'1,202'675

'1,321'1052

'191'766'210

'67 828'5,055'5371

'15,857'5,546

'20 130'15 869'2762'3668'9439

'62,064'13 087

'61 665'16 996

'690'3161

'13 145'7585

'587'376'454'665

'1 049'1,273'1,313'1,192

'398'278

807.37.1

194

6916.71125.060

10.7

791508.480

15.5

3.0

579.9

10.013913.6

'91,065'75,209

'92,391'76,533'57,279'24 383

'975'4 154

'19 254'11 343

'702'475'595'871

'1,440'2137'2,152'1876

'711'384

'7911'1,638

'66'768

'1,207'676

'1,328'1053

'191'774'210

'68008'5,095'5406

'15,914'5,573

'20 162'15 858'2760'3670'9428

'60,699'13 034

'61 948'17 155

'694'3227

'13 234'7643

'589'380'455'661

'1 056'1,286'1,327'1,208

'401'280

787.06.9

19.3

6.716.21024.959

11.0

781517.573

14.0

2.7

569.5

10.013711.5

'91,612'75,477

'92,846'76,971'57,598'24 577

'978'4226

'19 373'11 440

'706'480'604'877

'1,447'2151'2,175'1898

'715'387

'7933'1637

'65'767

1,213'680

'1,333'1054

'190'784'210

'68 269'5,105'5438

'15 980'5,593

'20 278'15 875'2763'3681'9429

'60,909'13 163

'62 327'17 318

'696'3296

'13 326'7718

'592'384'462'666

'1 062'1,300'1,346'1,221

'403'282

786.86.9

19.9

6.716.611.34.758

11.0

761337.578

14.6

2.4

529.69.1

12.811.2

'92,234'76,030

'93,058'77,185'57,719'24 595

'978'4151

'19 466'11 513

'712'483'606'877

'1,456'2166'2,202'1905

'718'388

'7953'1638

'66'769

'1,218'680

'1,339'1054

'190'790'209

'68 463'5,112'5457

'16 030'5,613

'20 378'15 873'2770'3685'9417

'61,384'13 280

'62 443'17 297

'698'3211

'13 388'7769

'599'387463

'666'1 069'1,314'1,364'1,221

'404'282

786.97.0

19.4

6.716.81154.758

10.5

771437.775

12.2

2.2

509.28.1

11.98.6

'93,234'77,016

'93,456'77,551'58,020'24 763

'985'4247

'19 531'11 553

'714'482'605'880

'1,460'2189'2,213'1903

'719'388

7978'1647

'67'767

'1,225'680

'1,348'1058

'189'789'208

'68 693'5,131'5474

'16 094'5,640

'20 449'15*905'2773'3693'9439

'62,290'13 368

'62 791'17 448

'707'3296

'13 445'7804

'599'387'465'669

'1 075'1,329'1,372'1,221

'404'283

756.56.8

19.0

6.415.810.54.55.89.8

7214.87.17.0

13.9

2.5

4.78.77.4

10.96.8

"94,063"77,845

"93,688"77,798"58,241P24 856

"993P4306

P19 557P11590

"712"484'605"887

"1,467"2199"2,229"1 901

"721"385

"7967"1,641

"67"763

"1,216"681

"1,352"1057

"189"795'206

"68 832"5,141"5496

"16 117"5,650

"20 538"15 890"2767"3701"9422

"63,048"13 471

"62 985"17 533

"713"3 345

"13 475"7 836

"1598"387"464"<375

"1 (383"1,342"1,385"1,216

"405"281


June 1984 SURVEY OF CURRENT BUSINESS S-ll


1982 1983

Annual

1983


1984


LABOR FORCE, EMPLOYMENT, AND EARNINGS—ContinuedEMPLOYMENT t— Continued

Seasonally Adjusted tProduction or nonsupervisory workers — Continued

Nondurable goods thousFood and kindred products do...Tobacco manufactures . . doTextile mill products do...Apparel and other textile products do...Paper and allied products do...Printing and publishing doChemicals and allied products. . doPetroleum and coal products do...Rubber and plastics products, nee do...Leather and leather products do...

Service-producing do. .Transportation and public utilities do....Wholesale trade do.Retail trade doFinance, insurance, and real estate do....Services do.

AVERAGE HOURS PER WEEK t

Seasonally Adjusted

Avg. weekly hours per worker on private nonagric.payrolls: 0 Not seasonally adjusted hours..

Seasonally adjusted . . . doMining $ ' doConstruction $ doManufacturing:

Not seasonally adjusted doSeasonally adjusted do

Overtime hours . do

Durable goods doOvertime hours do .

Lumber and wood products do....Furniture and fixtures doStone, clay, and glass products do...,Primary metal industries do....Fabricated metal products doMachinery except electrical doElectric and electronic equipment do....Transportation 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 do....

Paper and allied products doPrinting and publishing do....Chemicals and allied products do....Petroleum and coal products doRubber and plastics products, nee $ do....Leather and leather products do....

Transportation and public utilities do....Wholesale trade do ..Retail trade doFinance, insurance, and real estate J do....Services do

AGGREGATE EMPLOYEE-HOURS t

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 do ..Mining doConstruction do....Manufacturing doTransportation and public utilities do....Wholesale trade * do....Retail trade * do....Finance, insurance, and real estate do....Services do .

Government doIndexes of employee-hours (aggregate weekly): 0

Private nonagric. payrolls, total... 1977=100..Goods-producing do

Mining doConstruction do . .Manufacturing do....

Durable goods doNondurable goods do....

Service-producing do:...Transportation and public utilities do....Wholesale trade do....Retail trade doFinance, insurance, and real estate do....Services do....

r5431'1,125

r53'642'981'493'699'598'119'533'182

'42 926'4,190'4246

'13 612'3,997

'16 880

34.8

'427367

389

23

39322

38.0372

'40.138.639239739.340.5398'38.4

38.425

39.437.837.534.7

41837.140.943939.635.6

39.0'38.329936.2326

'165 73'135 02

'251'7.45

'3811'10.32'1051'23.60'10.08'3243'3072

'104.2'906

'1307'99.8'87.0'844

. - '90.8'111.7'102.2'108.1'1036'117.1'121.9

'5430'1,118

'52'641'984'494'710'580'117'556'173

'43 737'4,073'4220

'13 951'4,066

'17 428

35.0

425'372

401

30

40730

'40.1394

'41.540.540640540.542.140439.1

39430

39.537.4

'40.536.2

42637.641.643941236.8

39.0'38529836.2327

'167 91'136 75

'2127.62

'3842'10.12'1053'24.09'10.30'3355'31 16

'105.8'914

'1073'1019'88.6'854'93.3

'113.7'99.4

'108.0'1060'118.9'126.0

'5373'1,117

'54631

'968'490'703'579'121'538'172

'43 355'4,112'4168

'13 810'4,033

'17 232

34.7349'41 7367

39840129

405'29

'40.1393'41 1'40.0'404'40 140.4'42.1'404'38.9

39530

'39.537.3'40.9'36.5

424'37.641.5'43641 137.0

'38.9'384'29736.1327

166 25'134 62

'2067.26

'3769'10.11'1037'23.73'10.19'3320'3163

'104.1'889

'1045'974'86.5'825'92.5

'112.5'100.0'106.4'1044'117.7'124.6

'5388'1,118

'53634

'972'492'705'578'119'545'172

'43 505'4,116'4 185

'13 858'4,047

'17299

34.9'349422'375

399'399

27

'40326

39.8392412

'40.2'403400'40.241.6

'40338.8

39429

39.437.4'40.536.1

427'37.541.643641 136.8

38.9'385'29836.3

'327

16704'135 83

'208'744

'3796'10.141044

'24.03'10.30'3344'3121

'104.7'894

'1048'990'86.9'831'92.4

'113.1'100.1'107.1'1051'119.0'125.1

'5416'1,122

'52'642'977'493'709'579'118'552'172

'43 719'4,121'4207

'13 928'4,059

'17 404

35.2'350425379

40340129

'40528

40.0'395'41.5'40.4'404'40340.5'41.8401'38.8

'39.530

'39.7'38.440.7'36.2

428'37.5'41.8'43641.336.8

38.9'38529936.1327

'167 45'136 60

'207'7.58

'3834'10.17'10.51'24.1610.28

'3350'3085

'105.5'906

'1051'1012'87.9'842'93.2

'113.7'100.2'107.7'1060'118.7'125.9

'5447'1,123

'52643

'990'495'711'580'118'562'173

'43 887'4,119'4219

'13 988'4,075

'17 486

'35.335042 1382

40040230

40830

'40.0397

'41.6'40.7407'406'40.742.0

'405'38.7

39530

39.436.8'40.8'35.9

429'37.641.8'43840.9

'37.2

'39.0'38429836.3'327

'168 32'137 49

'207'768

'3874'10.231052

'24.30'10.34'3359'3084

106.1'91 6

'1057'1020'88.9'858'93.6

'114.1'100.4'107.7'1061'119.2'126.5

'5455'1,117

'50650'990'495'714'580'117'568'174

'43 409'3,481'4242

'14 028'4,098

'17 560

'35.3350'426380

40 2403'30

408'3040.239741740.9

'408'40640.7

'41.9404'39.0

'39631

39.6'37.640.9'36.3

429'37.6'41.7435412'37.1

'39.2385'29836.1'326

'168 1013702'2 10'777

'3887'9.39

'1060'24.26'10.36'3369'31 08

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118.8104.2113.3110 9122.4131.5




1982 1983

Annual

1983


1984


LABOR FORCE, EMPLOYMENT, AND EARNINGS—ContinuedHOURLY AND WEEKLY EARNINGS f t

Average hourly earnings per worker: 0Not seasonally adjusted:

Private nonagric. payrolls dollars..Mining doConstruction do....Manufacturing do

Excluding overtime do....Durable goods do....

Excluding overtime 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 equipment .... do....Transportation equipment do....Instruments and related products do....Miscellaneous manufacturing do....

Nondurable goods do....Excluding overtime do....

Food and kindred products do....Tobacco manufactures do....Textile mill products do....Apparel and other textile products .. do....Paper and allied products do....Printing and publishing doChemicals and allied products do....Petroleum and coal products doRubber and plastics products, nee .... do....Leather and leather products do....

Transportation and public utilities do....Wholesale trade do....Retail trade doFinance, insurance, and real estate do....Services do

Seasonally adjusted:Private nonagricultural payrolls . .. dollars

Mining doConstruction doManufacturing do....Transportation and public utilities doWholesale trade * do....Retail trade * doFinance, insurance, and real estate do....Services do

Indexes of avg. hourly earnings, seas, adj.: 0Private nonfarm economy:

Current dollars 1977-100..1977 dollars $ do

Mining do....Construction doManufacturing do ..Transportation and public utilities do....Wholesale trade * doRetail trade * do....Finance, insurance, and real estate do....Services do ...

Hourly wages, not seasonally adjusted:Construction wages, 20 cities (ENR): §

Common labor $ per hr..Skilled labor do....

Railroad wages (average class I) do

Avg. weekly earnings per worker,private nonfarm: 0

Current dollars seasonally adjusted1977 dollars, seasonally adjusted $

Current dollars, not seasonally adjusted:Private nonfarm, total dollars..

Mining .. doConstruction doManufacturing do ..

Durable goods doNondurable goods do....

Transportation and public utilities do....Wholesale trade do....Retail trade doFinance, insurance, and real estate do....Services do. ..

EMPLOYMENT COST INDEX @

Civilian workers t 6/81 = 100..Workers, by occupational group

White-collar workers do....Blue-collar workers do....Service workers do....

Workers, by industry divisionManufacturing do....Nonmanufacturing do

Services do....Public administration do....

HELP-WANTED ADVERTISING

Seasonally adjusted index 1967 = 100..


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r8.8711.33'8.77'9.268.21

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114.5

114.91136115.1

113.51149117 1117.0

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'10.59'1322'8.02'5.53

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'1673'1445'1579157.9

'1586'1507'158.9'1564

153520.05

1309

'281 40'171 69

'282 75'474 47'450 76'353 60'378 95'319 93'424.93'330 42'175 34'264.63'239 64

100

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1982 1983

Annual

1983


1984


LABOR FORCE, EMPLOYMENT, AND EARNINGS—ContinuedWORK STOPPAGES

Work 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

Unemployment insurance programs:Insured unemployment, all programs, average

weekly #@ thousState programs (excl. extended duration prov.):

Initial claims thous..Insured unemployment avg weekly do

Percent of covered employment: @ @UnadjustedSeasonally adjusted

Beneficiaries average weekly thousBenefits paid @ ... . mil. $..

Federal employees, insured unemployment,average weekly thous..

Veterans' program (UCX):Initial claims do....Insured unemployment, avg. weekly do....Beneficiaries, average weekly do....Benefits paid mil. $..

Railroad program:Applications thous..Insured unemployment, avg weekly doBenefits paid mil. $..

96

6569,061

4590

30,2984061

46

3564220,649 5

32

136119

83.5

24662

338.7

81

90917,461

3775

22,8023396

39

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26

1963027

178.9

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301.6

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1,8743906

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22

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20567

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3284

2958pl,4332843

3329

P2339pl 369 5

28r!322

-20"11.3

340

20.1

r6r27

r644

2610pl,4652512

2928

"2373pl 215 7

23

122019

P10.5

229

13.4

3

4530

FINANCEBANKING

Open market paper outstanding, end of period:Bankers' acceptances mil. $..Commercial and financial co. paper, total do....

Financial companies do .Dealer placed do....Directly placed do

Nonfinancial companies do....

Agricultural loans and discounts outstanding ofagencies supervised by the Farm Credit Adm.:

Total, end of period mil. $..Farm mortgage loans:

Federal land banks doLoans to cooperatives do....Other loans and discounts do....

Federal Reserve banks, condition, end of period:Assets total # . mil $

Reserve bank credit outstanding, total # .. do....Time loans do....U S Government securities do

Gold certificate account do....

Liabilities, total # do....

Deposits, total do....Member-bank reserve balances do....

Federal Reserve notes in circulation do....

All member banks of Federal Reserve System,averages of daily figures:

Reserves held total mil IjJRequired . .doExcess do....

Borrowings from Federal Reserve banks do....Free reserves . .. . do....

Large commercial banks reporting to Federal Re-serve System, Wed. nearest end of yr. or mo.: $

Deposits:Demand, total # mil. $..

Individuals, partnerships, and corp. $$ .... do....States and political subdivisions do....U S Government do .Depository institutions in U.S. $$ do....

Transaction balances other than demanddeposits * do

Nontransaction balances, total * do....Individuals, partnerships, and corp do....

Loans and leases (adjusted), total § do....Commercial and industrial do....For purchasing and carrying securities do....To nonbank depository and other

financial do....Real estate loans do....To States and political subdivisions 0 do. .Other loans do....

Investments, total do....U.S. Treasury and Govt. agency securities,

total 0 doInvestment account 0 do....

Other securities 0 do....

795433 162,3303 118 640

334,666383 97443690

80408

503758,423

21,609

190 128

153,769717

139 31211 148

190 128

34,33426,489

141,990

*41 854*41 354

'500*634

MOl

191,546141,698

5,2251764

23,816

416,133377,218

524,625218,52911,138

26684133,738

161 257

129 438

6263954,76166.799

78309181,348137 97041,7279624343378

80541

510789,319

20,143

198 571

163,694918

151 94211 121

198 571

26,12321,446

157,097

*38 894'38 333

^61^74

'-117

195,538149,971

5,5072055

21,868

439,983411,068

553,128223,85713,638

25272142,170

174,488

145,803

7547367,77770.330

70389169,892123 81936,9848683546073

81022

506879,259

21,076

189 421

151,134848

141 55011,135

189,421

32,32123,193

142,497

3865038174

4761,009^451

172,570131,566

4,6543470

17,921

419,863386,474

519,729216,526

10,027

25,075136,308

156,809

138,126

6999860,09768.128

68797169,870125 552382058734744318

81024

507788967

21,279

185 Oil

152,1981260

141 18011 132

185 Oil

26,05420,567

145 783

3828237833

449952

-404

203,719152,866

5,2471 131

26,240

421,594391,228

524,951216,42011,919

25798136,670

164 840

141 108

7351263,02267.596

70907171,642127 31838,6458867344324

81 165

508848,630

21,652

189 579

155,6493,610

141 67311 131

189 579

27,50818,004

147,549

3841537934

4801,636

-1034

182,551136,533

5,2822025

20,912

424,521394,584

526,133214,96612,668

25135137,455

161,306

140,157

7261362,27667.544

72710172,674128 52037,9279059344154

81397

509468,659

21,792

189 478

155,3141,113

144 25511 131

189 478

27,78123,046

147,094

3894838440

5071,453-775

180,964136,531

5,0813215

20,595

426,234398,234

528,769217,13911,838

25480138,007

166 990

138,938

7029160,43768.647

73977172,407129 37539 1369023943032

81601

510068974

21,621

193 405

160,2423633

146 48911 128

193 405

3060825,702

148 241

3866138214

4461,546-902

179,139136,935

4719993

20,412

429 130400,368

530,222216,005

12,497

25021139,237

165 307

138 908

70 1426174268.766

73569176,125130 280392479103345845

81 177

510958707

21,375

208 034

167,3981625

155 42311 128

208 034

4459320,697

148 172

3791637418

4981441-753

169,441130,818

4,4921607

18,199

428 000399,366

530,378215,28711,402

25326140 261

163 927

139 422

707206231468.702

72902177,150132 12839,1349299445022

81 106

51 1059263

20,737

190 067

155,964387

14609611 126

190 067

2611220,227

149 676

3813737*633

505844197

180,079138,677

52841 152

20,103

432 988405,227

541,626218,70613,061

25014141,637

174 126

143 742

748536572268.889

77919182,475137 29742,1249517345178

80769

51 1309460

20,180

195 267

160,0431059

149 43911 123

195 267

2544321,581

153 800

3814437615

529906

-256

187,336143,638

49001934

20,448

437 235408,964

543,644219,35514,291

24256142106

174 875

145 869

771056804468.764

78309181,348137 970417279624343 378

80541

51 0789319

20143

198 571

163,694918

151 94211 121

198 571

26 12321,446

157 097

3889438333

561774117

195,538149,971

55072055

21,868

439 983411,068

553,128223,857

13,638

25272142 170

174 488

145 803

75 4736777770.330

73450185,280139 83941,2839855645441

80896

510361017119,690

199 457

163,081418

150 25411 120

199 457

2966120,361

151 711

40 12039507

613715

16

186,364139,378

54531 106

23,974

32956408 881380,480

577,258221,42214,910

25578144 65720361

180 307

130 201

802446837749.957

74367191,132143 77842,551

101 22747354

'80 821

5099810170

19 653

188 837

158,5351020

140 84711 116

188 837

2030616,330

152 383

3636535423

942567478

185,724140,501

54482446

22^623

32 736411 118382,536

585,352226,81715,659

24766145 46820670

181 012

129 697

80 1756922349.522

73221198,119148 67744036

104 641r49 442

r80 935

5103810292

19 605

195 100

159,508896

150 81411 111

195 100

2663422,167

153 871

3627835569

709952110

176,120134,190

42501 736

21^285

32899415 351386,014

587,258231,23312,678

24312146 73321 274

174 169

128 525

789616823149.564

208,747154 13846179

107 95954609

81 131

510551032119755

208 207

172,937907

162 13411 109

208 207

37 11319,715

155 388

r37 154r36 664

'4901234r-605

185,972141,334

58541 307

22,088

33340414 454385,311

602,674236,67113,868

25415148 44822538

180 948

128 260

779786645650.282

202 369

167,5662832

154 86911 104

202 369

2725221,686

158 727

3651735938

57929882213

185,051140,804

46231 076

22,562

32673426 900395,671

607,656239,79814,479

25779149 25923053

183 531

125 726

768346503748.892




1982 1983

Annual

1983


1984


FINANCE—ContinuedBANKING— Continued

Commercial bank credit, seas, adj.:Total loans and securities 0 bil $

U S Treasury securities .. do....Other securities doTotal loans and leases 0 do . .

Money and interest rates:

Prime rate charged by banks on short-termbusiness loans * percent

Discount rate (N Y F R Bank) © @ do

Federal intermediate credit bank loans 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 directly, 6-mo do....

Yield on U.S. Government 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 do....Finance companies doCredit unions do....Retailers doSavings and loans do....

By major credit type:Automobile do....Revolving . . .. do....Mobile home do

Seasonally adjusted *

Total outstanding (end of period) # do....By major holder:

Commercial banks do....Finance companies doCredit unions do....Retailers doSavings and loans do....

By major credit type:Automobile doRevolving do....Mobile home do

Total net change (during period) 4£ doBy major holder:

Commercial banks doFinance companies do....Credit unions do ...Retailers doSavings and loans . do

By major credit type:Automobile do....Revolving 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 do....Reduction in cash balances do....

Gross amount of debt outstanding do....Held by the public do

Budget receipts by source and outlays by agency:Receipts (net), total mil. $..

Individual income taxes (net) do....Corporation income taxes (net) do....Social insurance taxes and contributions

(net) mil $Other do....

Outlays, total # do....Agriculture Department do....Defense Department, military do....Health and Human Services

Department mil $Treasury Department . do....National Aeronautics and Space Adm do....Veterans Administration do....

GOLD AND SILVER:Gold:

Monetary stock, U.S. (end of period) mil. $..Price at New York $$ dol. per troy oz..

Silver:Price at New York ±± dol. oer trov oz..

1412013092392

1,042 0

1486

1102a!3.56

814.49814.78

311.89311.89311.20

310.686

355 849

152 49098693472533273515823

131,0866999822254

'617 766'728 424

'-110 658

'127989'134,912'-6923

'1,146987'929 346

'617 766'298,111'49,207

'201 131'69 317

'728 424'36,213

'182,850

'251 259'110521

'6,026'23,937

11,148376.010

7.947

15681188.02475

1 1326

1079

850

10.60

12.1112.29

8.908.898.69

8.630

396 082

171 978102 86253,4713591121615

142,4498082323680

'600 562'795 969

'-195,407

'207 764'212,424'-4660

'1,381,886'1141770

'600,562'288,938'37,022

'208 994'65 609

'795 969'46,392

'205,012

'276 635'116360

'6,664'24,827

11,121423.828

11.144

14606157.82434

1 059.5

1050

850

10.51

12.0212.42

8.498.488.41

8.252

353,263

149 3119935747,5052987118022

129,8426635522636

356,539

150 85699904478883045617985

130 7696778522576

2041

485-67708167368

44197151

66,23469542-3,309

44472,6821,765

1,252,7061 049 714

66,23435,0414,796

214804,918

69,5424,627

17,122

241698078

4873,359

11,135432.188

11.694

14744166.12450

10633

1050

850

10.20

12.2112.36

8.368.318.15

8.185

355 302

14960110011647,8383004118484

130,9386642322673

358,811

151 654100 276481763071118527

131 4756836922676

2272

798372288255542

706584100

3375563040

-29,285

3047618,49711979

1,296,1251068211

33,7556,384-302

223305344

630402,503

16,888

222349679

603878

11,132437.555

12.976

14880171.22462

1 070.6

1050

850

10.14

11.9012.21

9.049.038.80

8.820

360,605

152,065101 05648,6523034718945

132,9166794522722

362,672

153,219101 082487493100519,150

132 91569,47322839

3861

1565806573294623

1,4401 104

163

66,517631163,401

-138225,719

-27 101

1,324,3181093930

66,51732,773

9,955>

179035,886

631162,787

17,908

2286213944

5711,900

11,131412.841

11.749

14999172.92461

1 080.9

1050

850

10.22

12.0212.18

9.339.369.10

9.120

365,498

154 914102 08449,1393040319135

135,3736886622830

366,378

155,442101 58949,41131 16619,197

134 76470,08923076

3706

222350766216147

1,849616237

4394865360

-21,412

2270511,87710828

1,331,5951105806

43,94821,938

856

153165,838

653602,429

16,936

227248969

5832,021

11,131423 053

12.088

15132174.42478

1,0910

1089

850

10.30

12.0112.25

9.599.689.42

9.390

371 295

158 402102 54150,1213064819461

138,2427000622993

370,471

157 720102 227499213133019,462

137 1367063023298

4093

2278638510164265

2372541222

4968367160

-17 477

1874420,522-1778

1,353 0721 126 328

4968323,259

383

200895952

67 1601,644

18,133

2357010014

6012,254

11,128416 248

12.096

15203176.92471

1096.3

1100

8.50

10.42

12.0812.38

9.239.289.09

9.050

375,246

160,973102 17451,1233092619985

139,0027103923189

373,024

159,429101 842505673155519,910

137 43171,20923553

2553

1709-385646225448

295579255

6355661610

1,946

75615,442

-14 686

1,381,8861 141 770

63,55630,9619,048

172406308

616102,637

17,508

222966743

5392,008

11,128411 455

11.915

1 532.9182.3246.5

1,104.1

1100

8.50

10.55

11.8012.19

9.018.988.79

8.710

379,334

163,274102 33851,7673133720,472

140,1017210523358

378,117

162,142102 31251,5093177020,347

139 14072,44723523

5093

2713470942215437

1,7091238

-30

45 15670225

-25,069

2362311,73211891

1,389,2361 153 502

45,15623,227

468

157065753

702254,445

16,949

232979611

7341,936

11,126393 208

9.841

1,548.9186.2247 1

1,115.7

1100

8.50

10.61

11.8212.11

9.169.098.84

8.710

384,410

165,67010256052,5783237121023

141,1077403223492

382,936

164,974102 27252,4213208820,931

140 40873,87423459

4819

2832-40912318584

1,2681427

-64

4620067792

-21 591

222708946

13324

1,393 8161162448

4620022,700

467

167806253

677922755

17,445

2355910665

6322,047

11,123382 245

8.837

1,568 1188.02475

1,132.6

1100

8.50

10.67

11.9411.94

9.529.509.11

8.960

396 082

171 978102 862534713591121615

142,4498082323680

388,718

168,951102 126531523262521520

141 8767556423460

5782

3977-146731537589

14681690

1

5804174702

-16 661

16572155011071

1 415 3431 177 948

580412557710,922

161205422

747023988

18,925

2444817438

5903,332

11,121387 140

9.121

1 585.2188.7252.0

1,144.5

11.00

8.50

10.80

11.8011.70

9.239.189.02

8.930

394,922

171,934101680538823450521823

143,18678566

'23 668

393,187

'170,980102 06054,06833047'21 884

143 98276069'23 368

4469

'2029'-66916422'364

2,106'505' 92

6253768052-5515

576223686

-17 924

14419931201634

6253733,881

1,619

214625575

680524266

17,781

238129481

4141,199

11,120370 888

8.182

1,6048188.32522

1,164.3

11.00

8.50

10.84

11.7811.73

9.389.319.06

9.030

399 177

175 941101 702548513345522269

146,0477767123571

399,795

'175,894102 318547803337222298

146 78177342'23 241

6608

4914258712325414

27991273'l27

4788668267

-20 381

20588181722416

1 462 1271219808

4788622190

9

199725715

682673561

17,939

24 14310625

6312,100

11,116385 955

9.126

1,621.6187.1253.2

1,181.4

11.21

8.50

10.79

11.5611.69

9.889.869.38

9.440

402 466

177,625101 61955892

• 33 20823071

146,04779,11023661

405,665

179,316102 125560103372723111

147 1078030423526

5870

3422-1931230

355813

3262962

285

4446473020

-28 555

302827568

22714

14683031227376

44464128957,965

17 7025902

730203032

18,950

2563510066

5223,294

11,111394 264

9.651

1,630.8185.9250.7

1,194.2

11.93

8.87

10.87

'11.55'11.61

10.2210.229.76

9.690

407,671

181,022101 11956,9623332723957

147,94480,18423850

412,073

183,331101 775575393400523979

149 26582,17223811

6408

4015-3501529

278868

21581868'285

801806868711493

108331703827871

14906631244414

80180391929,095

260365858

686873114

18,210

2406011 524

604886

11,109381 658

9.220

1239

9.00410.97

11.6711.63

10.8410.8710.03

9.900

11,104377 261

ft 972




1982 1983

Annual

1983


1984


FINANCE!—ContinuedMONETARY STATISTICS

Currency in circulation (end of period) bil $

Money stock measures and components (averagesof daily figures):!

Measures (not seasonally adjusted): $Ml bil $M2 doM3 do....L (M3 plus other liquid assets) do....

Components (not seasonally adjusted):Currency do....Demand deposits doOther checkable deposits ft doOvernight RFs and Eurodollars 0 do....General purpose and broker/dealer

money market funds do...Money market deposit accounts * doSavings deposits do...,Small time deposits @ doLarge time deposits @ do...,

Measures (seasonally adjusted): $Ml doM2 doM3 do...L (M3 plus other liquid assets) . do

Components (seasonally adjusted):Currency do....Demand deposits doOther checkable deposits * do....Savings deposits doSmall time deposits @ doLarge time deposits @ do....

PROFITS AND DIVIDENDS (QTRLY.)

Manufacturing corps. (Bureau of the Census):Net profit after taxes, all industries mil. $..

Food and kindred products do....Textile mill products do....Paper and allied products .. . doChemicals and allied products do....

Petroleum and coal products do....Stone, clay, and glass products do....Primary nonferrous metal doPrimary iron and steel do....Fabricated metal products (except ordnance,

machinery, and transport, equip.) mil. $..

Machinery (except electrical) do....Elec. machinery, equip., and supplies do....

Transportation equipment (except motorvehicles, etc.) mil. $..

Motor vehicles and equipment do....All other manufacturing industries do....

Dividends paid (cash), all industries 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 do....Extractive (mining) do....Public utility do

Transportation do.Communication doFinancial and real estate do....

State and municipal issues (Bond Buyer):Long-term do....Short-term . do

SECURITY MARKETS

Stock Market Customer Financing

Margin credit at brokers, end of yearor month mil. $..

Free credit balances at brokers:Margin accounts do .Cash accounts do....

Bonds

Prices:Standard & Poor's Corporation:

High grade corporate:Composite § dol. per $100 bond..

Domestic municipal (15 bonds) do....

Sales:New York Stock Exchange, exclusive of some

stopped sales, face value, total mil. $..


156.2

458.01,878.32,278.52,777.4

128.4234.990.341.1

172.4

350.3859.0326.4

71,0288,383

8511,460

10,324

19,666408

-333^3,705

2,320

8,0386,449

2,566734

13,867

41,259

73,424

44,004

23,1974,950

72,15113,2376,923

16,408

2,0913,894

23,089

77,17943,390

13,325

5,7358,390

35.841.8

7,155.44

C171.9

509.02,115.9'2,596.7'3,039.7

141.9241.8120.752.9

145.3340.5321.2754.5307.5

86,2948,8771,6052,337

11,733

19,3791,127-154

^3,746

2,748

8,1926,374

2,8997,295

17,628

41,510

102,073

48,081

44,8427,583

100,50622,7728,580

12,166

4,1575,508

34,715

83,34835,849

23,000

6,6208,430

41.251.4

7,572.32

505.22,092.42,558.42,991.2

138.7242.1120.050.8

148.2341.4324.7729.7295.0

497.92,081.82,550.62,980.0

139.1239.5114.7321.9727.4298.3

12,142

7,821

3,880441

12,1422,648

6241,342

287986

4,138

9,8735,875

15,590

6,0907,970

43.854.2

729.15

500.72,096.72,565.92,999.3

140.4237.5118.255.4

141.4357.4325.5723.8295.9

506.62,102.22,571.03,1003.3

140.5241.5120.0323.1722.61298.0

1,2,838

8,170

3,933486

12,5883,188

5561,578

370505

4,435

19,1032,226

16,713

6,0908,310

44.453.9

687.63

C162.0

509.82,118.12,591.23,028.6

141.9241.8121.256.1

140.2368.6325.8725.1299.8

510.92,117.02,593.03,033.1

141.6243.0121.7322.8724.8303.0

22,1742,224

461543

3,045

4,52934050

-616

789

1,9261,268

8472,1634,605

10,275

8,646

2,314

5,442790

8,5473,138

531987

205381

1,982

8,3663,640

18,292

6,1508,590

42.251.1

641.90

516.62,131.92,604.03,052.5

143.6244.9122.953.1

138.7370.5324.8735.8300.1

514.92,126.62,604.03,059.7

142.4244.5123.4320.7737.0304.2

7,423

3,290

3,794340

7,4241,334

943565

4971,1202,044

4,5913,291

19,218

6,2758,145

40.451.4

538.78

513.52,133.32,615.63,070.6

143.8241.1123.552.4

139.1368.6319.8747.0308.5

517.42,135.32,617.23,075.1

143.5243.7125.6319.3749.0308.6

6,212

2,727

2,923317

5,9651,735

345658

220245

1,975

6,5764,101

19,437

6,3508,035

39.050.0

560.48

162.8

516.32,142.22,631.0'3,085.4

144.3242.0124.953.5

137.9369.5316.2756.3314.8

518.92,147.92,636.4

'3,097.6

144.8243.0126.4317.9759.0313.2

23,3082,407

483678

3,233

5,53053637

-570

757

2,0171,591

7281,5204,361

10,353

6,649

2,680

3,126644

6,4501,491

476843

178103

2,252

5,8062,397

20,124

6,5507,930

39.750.8

498.96

522.32,167.1'2,655.1'3,110.0

145.7244.8127.057.0

137.5370.5316.0771.4317.9

521.62,167.2

'2,656.4'3,114.0

146.0243.6127.2317.1773.0315.6

6,053

2,433

3,320300

6,0541,159

4091,012

30556

2,490

6,6683,382

21,030

6,6307,695

40.050.4

513.37

526.72,181.2'2,689.5'3,147.7

147.9245.2128.955.2

138.8372.9312.0783.1323.7

523.02,182.1'2,688.5'3,146.5

147.2242.8128.2315.4785.5320.8

7,242

3,316

3,444433

7,193596

1,1241,128

30312

3,530

5,8981,983

22,075

6,5127,599

39.349.6

530.06

C171.9

537.8'2,198.0'2,712.8'3,184.7

150.5251.6131.2'56.2

138.2376.0308.5788.6329.7

525.3'2,196.22,706.8

'3,176.9

148.0243.7128.8312.9793.1325.9

* 25,0832,758

420675

2,700

5,662374127

-1801

866

2,9432,202

7292,5545,128

10,980

6,215

2,443

3,234288

5,9651,267

360433

50812

2,682

9,1371,977

23,000

6,6208,430

38.649.1

601.30

534.8'2,210.5'2,727.7'3,208.9

148.4249.4132.5'58.6

137.9380.3307.4799.4335.0

530.0'2,206.8'2,721.8'3,197.5

149.9244.5130.7309.9797.0333.4

8,026

5,067

2,456305

7,828615823467

64239

4,380

4,9312,492

23,132

6,5108,230

(2)51.8

566.58

521.9'2,212.3'2,737.33,228.5

148.3237.9130.9'59.5

142.1386.0305.2805.4340.9

532.9'2,222.5'2,744.63,227.1

150.2243.8133.8

'306.6800.9

'340.3

10,388

7,694

2,080515

10,289764132429

8920

7,750

'4,5322,253

22,557

6,4208,420

50.5

550.96

1687

528.1'2,230.9'2,767.23,275.7

149.8239.4134.1'58.3

144.8392.5307.2'807.7347.3

'535.2'2,229.9'2,765.93,269.4

150.9244.0135.3

'305.5803.4

'348.3

5,689

3,450

1,764227

5,441409384433

279217

3,247

'5,0693,393

22,668

6,5208,265

49.0

579.24

'543.22,254.1

'2,799.23,309.8

151.5247.8139.0'56.8

146.1'396.4308.5'810.7351.8

'535.4'2,242.2'2,790.63,298.3

151.8'245.3133.2305.4'808.3355.7

'5,134'6,158

22,830

6,4507,910

48.6

552.79

535.02,254.52,810.1

152.9241.3135.859.2

146.8394.7308.0818.6364.5

541.12,259.62,814.9

152.9245.2137.9305.2817.7367.2

6,3722,310

45.9

644.69



1982 1983

Annual

1983


1984


FINANCE—ContinuedBonds — Continued

Yields:Domestic corporate (Moody 's) percent

By rating:Aaa doAa do.. .A doBaa do

By group:Industrials do.. .Public utilities doRailroads do

Domestic municipal:Bond Buyer (20 bonds) doStandard & Poor's Corp. (15 bonds) do....

U.S. Treasury bonds, taxable $ do....

Stocks

Prices: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 (105 Stocks) doConsumer goods (191 Stocks) do

Utilities (40 Stocks) doTransportation (20 Stocks) 0 1982=10..

Railroads (6 Stocks) 1941-43 = 10..

Financial (40 Stocks) 1970=10..NewYorkCity banks(6 Stocks) ..1941-43 = 10..Banks outside N.Y C. (10 Stocks) do....Property-Casualty Insurance (5 Stocks) do....

New York Stock Exchange common stock indexes:Composite . 12/31/65-50..

Industrial doTransportation doUtility doFinance do

Yields (Standard & Poor's Corp.):Composite (500 stocks) percent..

Industrials (400 stocks) doUtilities (40 stocks) doTransportation (20 stocks) do....Financial (40 stocks) do

Preferred stocks, 10 high-grade do....

Sales:Total on all registered exchanges (SEC):

Market value mil $Shares sold millions

On New York Stock Exchange:Market value mil $Shares sold (cleared or settled) millions

New York Stock Exchange:Exclusive of odd-lot and stopped stock sales

(sales effected) millions

Shares listed, N.Y. Stock Exchange, end of period:Market value all listed shares .... bil $Number of shares listed millions

14.94

137914.41154316 11

14.54153313.68

115611.57

12.23

345.4088436111.9535981

11971133.571199810937

5478100.0074.82

14.3054.76

* 95.87143.01

68.9378 1860.4139747199

5.81548

10394.325.92

12.53

596 67022414

514 26318211

16458

1 305 3639516

12.78

120412.4213101355

12.2513311208

9529.48

10.84

472.241 190 34

129.9854461

16041180.491716215077

648728.88

108.46

18.7069.23

113.16181.16

92.631074589.3647009534

4.404049242.85479

11.02

957 11830 147

815 11324253

21 590

1 584 1645118

1244

115112.0612861329

11.8413031190

8828.96

10.19

458.201 168 431260851815

15771176781638214993

6295139.00100.90

20.0078.18

115.35190.90

90.61104 46852646229907

4.444 129402.98445

10.80

754982431

63 1561930

1 793

1 545 8141090

12.30

114611.9512681309

11.59130011.62

9789.03

10.21

476.191 212 86129.2154275

164 10184.101733415490

6488147.81109.37

20.5679.16

122.92188.29

94.611094389.074762

10245

4.273969 122.814.33

10.65

883462825

753172246

1 953

1 547 1341508

12.54

117412.1512881337

11.90131711.78

9369.51

10.64

485.451 221 47128.2157173

16639187.421778915613

6414151.37110.91

20.1573.22

121.77186.32

96.431125292.224676

10122

4.263939302.83447

10.81

938472857

799732264

1 974

1 604 0242321

12.73

12 1512.3912991339

12.1813281207

9609.46

11.10

485.341 213 93130.4057284

16696188.321804215769

6506152.55113.04

19.5669.77

120.07181.67

96.7411321929146619960

4.213889 152.77465

11.06

764942 319

64 8581837

1 590

1 562 4043382

13.01

12.5112.72131713.64

12.52135012.13

9759.72

11.42

470.131,189.21129.6053683

162.42183.1617642150.32

64.85145.72112.03

18.7568.75

119.44175.69

93.961095088.06469495.76

4.354019202.884.75

11.07

795532633

683062 191

1706

1 571 3843763

12.91

12.3712.62131113.55

12.46133512.04

9469.57

11.26

491.301,237.04132.47571 17

167.16188.6118289155.43

66.00157.79121.86

18.9168.47

118.31186.65

96.701127694.56481697.00

4.243919112.654.72

11.06

804762399

684401946

1740

1 591 4343888

12.79

12.2512.49129713.46

12.39131912.08

9799.64

11.21

500.441,252.20138.3558228

167.65189.0018309160.20

69.10158.30120.37

18.2963.28

111.76185.44

96.781128795.41487394.79

4.253918752.644.90

10.97

819702446

693411965

1794

1 563 5844276

12.93

12.4112.6113.0913.61

12.5413.3312.35

9.829.79

11.32

503.461,250.00137.74597.21

165.23185.86178.25158.41

68.95160.49119.43

18.1064.57

108.15183.20

95.36110.7797.68485094.48

4.313.938802.604.98

11.12

800212327

68 1661883

1815

1 605 5644920

13.07

12.5712.7613.2113.75

12.6613.4812.46

9.769.90

11.44

502.801,257.64132.73597.27

164.36185.18179.19154.82

66.95159.52116.19

18.1665.97

111.52184.38

94.92110.6598.79470094.25

4.323.759412.615.00

11.49

843842638

718132131

1849

1 584 1645 118

1 12.921 12.2012.7113.1313.65

12.631 13.4012.41

9.519.61

11.29

501.801,258.89132.47593.08

166.39187.50179.05156.39

68.50156.11112.90

18.3569.65

114.51182.86

96.161121697.98474395.79

4.273.719252.684.98

11.35

857442619

727212129

2216

1 576 8845723

12.88

12.0812.7013.1113.59

12.6013.5012.28

9.869.6&

11.44

458.291,164.46127.58515.78

157.25177.14164.27145.88

66.25138.50102.29

17.2869.51

108.81181.06

90.60105.4486.3345.6789.95

4.594.009583.125.31

11.16

90,7402863

792822412

1933

1 508 2346825

13.33

12.5713.2213.5413.99

13.0014.0312.54

9.939.92

11.90

456.101,161.97127.49509.34

157.44177.85173.64144.55

65.25137.88103.41

17.1366.38

103.67189.54

90.66105.9286.1044.8389.50

4.634.029793.075.32

11.39

82,4992549

713782100

1855

1 525 5646938

13.59

12.8113.4813.7714.31

13.2514.3012.81

9.999.98

12.17

450.001,152.71125.74496.47

157.60178.57173.91143.77

64.34135.43103.58

16.9963.0298.94

195.70

90.67106.5683.61438688.22

4.644.029943.185.40

11.66

1717

1 534 7347287

14.13

13.2814.1014.3714.74

13.7214.9513.25

11.0710.55

12.89

446.491,143.42126.45489.28

156.55177.60172.27143.83

64.94132.37100.93

16.2361.3892.76

180.67

90.07105.9481.6244.2285.06

11.72

1940

1 450 4148035

FOREIGN TRADE OF THE UNITED STATESVALUE OF EXPORTS

Exports (mdse ) incl reexports, total @ mil $

Excl. Dept. of Defense shipments doSeasonally adjusted . do

By geographic regions:Africa doAsia doAustralia and Oceania doEurope do

Northern North America do....Southern North America do....South America do....

By leading countries:Africa:

Egypt. doRepublic of South Africa do....

Asia; Australia and Oceania:Australia, including New Guinea do....Japan do....

212 274 6

212,193.1

10 271 164 822 25,699.7

63 664 2

33,723.618,332.115,256.5

287542,368.2

4,600.720,966.1

200 537 7

200 485 8

8767 763 813 448265

58 871 0

38,245.315,204.810,520.0

281282,129.4

4,037.921,894.3

16 712 0

16 707 5160948

793652645

376550665

3,223.21,164.2

7831

2685240.0

327.31,752.6

16 234 6

16 228 515 655 4

68334801 1

350749025

3,440.91,308.4

714.8

1920243.1

287.41,546.7

17 557 7

17 555 316 959 0

80825 933 8

553045827

3,329.31,323.2

974.6

2963152.2

483.01,935.5

15 895 1

15 894 116 486 3

652 156085

407842986

2,634.51,280.7

9883

2348144 1

340.91,920.8

15 639 7

15 638.716 582 4

685948643

449.943838

3,031.91,419.9

787.1

2063161.7

362.91,799.7

16 845 3

16 844 017 256 7

812254377

399344679

3,422.01,342.3

9079

27081935

330.71,948.4

17 250 8

17 244 417 032 8

593 754287

429950225

3,516.71,362.5

8734

17371734

351.72,004.2

16 817 1

16 812 2170632

623053901

408048243

3,437.81,257.2

8561

18442052

344.52,095.1

175099

17 501 4172976

805356570

37245 115 5

330551,229.110043

20551873

304.52,085.6

17 165 5

17 161 018 326 1

C712 150833

47365 2323

347791,363.4

8116

26452106

401.71,853.5

17 014 9

17 014 017 212 5

659049457

42725036 1

368381,444.6

8101

19841765

368.61,813.3

19 607 8

19606717 727 2

814056942

495359738

418301,543.8

8912

2660231 1

413.52,028.0

17 782 6

17 779 117 521 5

685852038

37935 160 2

3992614646

845 1

181 92450

311.91.872.5




1982 1983

Annual

1983


1984


FOREIGN TRADE OF THE UNITED STATES—ContinuedVALUE OF EXPORTS— Continued

Exports (mdse.), incl. reexports — Continued

Europe:France mil $German Democratic Republic (formerly

E Germany) mil $Federal Republic of Germany (formerly

W. Germany) mil. $..

Italy doUnion of Soviet Socialist Republics doUnited Kingdom do

North and South America:Canada do

Latin American republics, total # doBrazil do....Mexico doVenezuela do. .

Exports of U.S. merchandise, total § doExcluding military grant-aid do....

Agricultural products total doNonagricultural products, total do .

By commodity groups and principalcommodities:

Food flT>d live anirnals $ mil $Beverages and tobacco do....Crude materials, inedible, exc. fuels # do....Mineral fuels, lubricants, etc. # mil $Oils and fats, animal and vegetable do....

Chemicals doManufactured goods # do....Machinery and transport equipment,

total.. mil $Machinery, total # do....Transport equipment, total do....

Motor vehicles and parts do....

VALUE OF IMPORTS

General imports, total do....Seasonally adjusted do

By geographic regions:Africa doAsia doAustralia and Oceania do....Europe do....

Northern North America do....Southern North America . . doSouth America do....

By leading countries:Africa:

Egypt doRepublic of South Africa do....

Asia; Australia and Oceania:Australia, including New Guinea mil. $..Japan do....

Europe:France doGerman Democratic Republic (formerly

E. Germany) mil. $..Federal Republic of Germany (formerly

W Germany) mil $Italy . doUnion of Soviet Socialist Republics do....United Kingdom do

North and South America:Canada do

Latin American republics, total # do....Brazil doMexico doVenezuela do. ..

By commodity groups and principalcommodities:

Agricultural products total mil $Nonagricultural products, total do....Food and live animals # t\n ....Beverages and tobacco do....Crude materials, inedible, exc. fuels # do....

Mineral fuels, lubricants, etc do....Petroleum and products do....

Oils and fats, animal and vegetable do....Chemicals do

Manufactured goods # do....Machinery and transport equipment do....

Machinery, total # do....Transport equipment do....

Automobiles and parts do


71104

2228

9,291.3

4616125873

10 644 7

33 720 2

30 086 33,422.7

1181695,206.2

207,157.6207,076.236 622 6

170 535.0

23 950 43,026.2

19,248.412 728.81,540.9

19 890 516,738.6

87,128.159,324.227,823.913,906.8

1243,951.9

'17 770.1ig5 169 5'3,130.5

163,412.7146,497.7'23 525 01 14,444.1

1547.21 1,966.8

12,304.6137,743.7

'5 545 3

'53.91 11 974 8'5 301 4

'227.61 13 094 8

'46 476 9132,512.6'4 285.3

1 15 565 9'4,767.7

1 15 421 71228,530.21 14,452.7

13,364.0'8,589.4

'65,409.2'59,396.4

'405.8'9 493 5

'33,148.4'73,319.6'39,456.8'33,862.8'29 360.6

59613

1390

8,736.7

390752 002.9

10 621 2

38 244 1

22 618 42,557.1908162,811.3

195,969.4195,917.536 107 7

159,861.6

24 166 02,813.0

18,596.09 499.91,459.0

19 750 814,851.7

82,563.254,308.528,269.314,462.8

258 047.8

14 424.691 463 53,043.5

55,243.0

55,149.625 731 015,991.9

302.72,027.3

2,247.541,183.2

60250

58.1

12 695 354553

346.512 469 6

52 129.7

35,682.94 946.1

16 776 14,938.1

16 534 1241,513.7

15,411.73,407.69,590.1

57,952.252,325.2

495.010 779 4

34,833.186,131.146,974.939,156.235 034.1

5242

252

768.2

3532219.59620

32232

17057198.86812134.8

16,360.716,356.22981 113,379.6

19042213.4

1,645.4872.6156.7

158651,315.5

6,794.14,513.62,281.21,288.1

19,807.819 913 6

950.062783

221.44,602.4

4,227.82 13131,396.6

4.0263.5

147.63,080.2

4928

5.3

10446448925.2

9221

4 227.1

3,001.9383.6

13457424.9

1489618,318.1

1,309.2283.4711.7

3,763.13,287.5

30.18967

2,877.86,731.53,635.53,096.02,762.2

5023

82

743.9

3694429

9636

34408

17856183.982591609

15 854 515,848.42 679 9131746

176901993

1,495.77594129.3

15577L 269.6

6 865 34,514.82,353.5L 370 4

21 932 921 446 2

123277 005 4

239.74 815.4

4,529.72 577 6L 532.4

45183.8

164.13 461.1

5179

3.4

L Oil 74284

16.4L 227 8

45282

3,538.04218

L 695 5508.1

L532820,400.2

1,450.0261.9860.1

5,033.24,655.4

32.09276

3,047.57,288.33,755.73,532.63,252.7

4837

43

699.8

2993887

7933

33293

20406286.880232278

17 201 117,198.62789014 412 1

19106231.3

1,527.2816384.9

182001 226.7

781284,558.33,255.11,246.4

21 763 020 915 8

1342576793

262.54,662.4

4,691.1196501,160.2

178169.0

175.43 283.8

4970

3.5

1 114 24553

16.510323

46888

2,744.53517

13637310.4

1261420,501.6

1,191.3298.9868.7

4,767.34,333.4

35.98382

2,936.87,364.43,954.43,410.03,119.0

4124

13

745.2

2644443

7932

26345

19766294.276172220

15 566 915,565.92595712 971 2

186591934

1,342.26526127.0

162081 173.9

662664,554.02,703.4

959.0

21 583.921 827 7

1519977767

256.54 692.3

3,937.4204661,354.5

374144.4

168.63 557.5

4696

4.6

1 044 44945

7.81 1297

39370

2,895.23957

12950428.9

1264220,319.7

1,226.2259.5803.8

5,164.04,802.3

39.68270

2,875.67,061.94,079.62,982.32,689.6

3959

06

698.6

2737662

8415

30319

19324179.288121740

15 252 015,250.92613512 638 5

18543215.7

1,478.78375111.7

174201 235.3

600664,238.31,768.71 049.5

23 058 622 714 1

1546686220

303.15,080.8

4,057.8213551,312.7

205154.1

223.136338

5006

5.5

1 1269541772.1

13180

40554

3,032.04398

1 491 4358.0

1248521,810.1

1,202.5277.9850.8

5,703.15,359.6

47.18867

3,268.47,134.34,005.93,128.52,573.9

4395

103

681.5

258 1685

8106

34218

19535200577582007

16 480 216 478.92973 113 507 1

2 12292074

1,491.48210157.0

1 609812507

67923464602,146.512506

21 736 322 451 4

1413776698

271.043912

4 322.32 175414928

334185.3

201.429757

5146

3.2

8876442 151.7

1 1066

4320 1

3,111.64438

138284560

1272120,464.2

1,230.8235.1837.9

5,571.35,239.3

43.58450

3,024.86,436.13 840.22,595.923225

4979

133

746.6

308324769995

35167

1960 1196.478842252

16 798 416,791.93 175513 622 9

2 15882665

1,548.6777 080.9

1 754512775

703534 928.22,109.613775

25 130 224 332 8

1258797034

286.050403

4,673.82612215558

236166.6

233.840707

5719

5.1

1 2156451 136.6

1 1225

46715

342225531

157364936

1521523,608.6

1,411.3335.4907.3

5,871.65,483.0

46.910208

3,300.88,414.54 841.63,572.932520

4246

220

740.2

2975250.88239

34377

18760205.675592426

16 418 216,413.33479512 938 7

224263757

1,608.86806120.7

1592412738

674904,579.42,170.41 314.6

23304723 114 7

1 190088968

238.947391

4,737.52226712755

165205.0

184.540257

4561

7.2

1 2229448628.4

10055

47372

432514389

3859

1371421,933.3

1,254.4310.2893.0

4,950.74,592.6

63.69448

3,107.58,448.2469543,752.834665

483.5

134

727.9

331 1308.88665

33053

19949236.072373686

17 107 017,098.63499213 607 8

218202881

1,813.17518137.4

170621 1948

725964,614.42,649.01 222.9

21 677 622 975 7

958379505

275.24 359.5

4,816.12039112788

15987.8

225.238070

4275

3.9

1 0863445623.9

9112

48133

2,886.54258

137993869

1350420,327.3

1,291.5299.0767.3

4,417.13,869.2

55.98546

2,849.18,123.8424973,874.135195

549 1

135

816.5

379918948709

34778

19374187584622308

16 686 616,682.13546513 140 1

2 15901985

1,867.15824168.9

1759712480

680634,71472,092.213155

26496826 586 1

108689 829 5

'247^660303

5,21982 279 618038

3502024

197.146138

7873

8.4

1 629 1551528.8

1 1742

52191

3,492.35921

1 368 15017

1 684 724,812.1

1,471.32880856.6

5,089.24,492.0

82910273

3,773.3; 9,881.45 373 1!4,508.439120

5069

176

770.4

37491853

10333

36838

19934161.594543098

16 589 016,588.13360613 228 4

1 938 92314

1,836.45022170.3

1 708 81*2037

6 997 4A 598.1^2,399.514593

25 117 826 147 1

! 1454 78 397 9

279.35 465 0

538712 425 11*7086

50442.3

217.936342

4982

6.1

1 197 1653252.1

9887

53856

3,583.34948

1 570 16154

1 669323,448.5

1 488.72844966.1

5,006.24,483.2

45410475

3,796.68,237.34 577 2i3,660.113 319 2

5414

165

830.0

44043386

10430

41827

21684163.697372980

19092319,091.23823315 269 0

223912380

2,075.57901237.6

1 863 81 364 3

8 041 7540792,634.01 682 2

27731326 770 9

1 337 996907

'269J966951

555852 518 51*6606

45181 1

186.147582

7101

8.0

1 5987675452.1

1 2809

55578

3,569.76047

162244144

1 774625,956.7

1606025949194

5,323.04,832.0

5771 215 0

3,876.910,313.85 777 24,536.640295

485 1

38

801.3

384 134889648

39924

20318189.596072348

17 333 317,329.83 181014 152 3

19397211 1

1,766.57588131.9

1 728 41 213 5

74932498792,505:515536

28 159 628 368 0

1460698920'

'269il!!

64413

5839i3i2483!7i17735'

662748

190.746380

6079

50

1 5700640733.5

1 367 9

58385

3,799.06406

1 707 95369

1 866726,292.9

1 702 2325 79542

5,628.6;5,249.7;

450:1 3094

3,7381110,202.2;564404,558:140831'

445-525 0 - 8 4 - 3



1982 1983

Annual

1983


1984


FOREIGN TRADE OF THE UNITED STATES—ContinuedIndexes

Exports (U.S. mdse., excl. military grant-aid):Unit value 1977 — 100Quantity do....Value do

General imports:Unit value do....Quantity doValue do....

Shipping Weight and Value

Waterborne trade:Exports (incl. reexports):

Shipping weight thous sh tons .Value mil $

General imports:Snipping weight thous sh tonsValue mil. $..

152.5115.11756

167.5999

167.4

400 896115 885

X376 2321 155.5 13

154 1107.81662

160.611031771

361 408100 656

366 423155.312

1548107.51665

160.710151631

304098644

2552611.161

1526105.71613

158.91137180.6

287577829

3295613.323

1537113.91750

160.211191792

312568345

31 13412.924

1550102.21584

158.711201777

278148051

3243413.354

154.0100.81552

160.81181189.9

294788 130

3540614.324

154.9108.31677

160.91112179.0

310288377

3559513.237

156.6109.11709

160.71288206.9

305208524

3881015.641

156.5106.71670

161.01192191.9

302228519

3223714.195

1558111.71740

162.71097178.5

31,8648891

2826312.567

1574107.81698

162.61342218.2

1581106.81688

161.51281206.8

1570123.81943

163.71395228.4

1579111.71764

164.11413231.9

TRANSPORTATION AND COMMUNICATIONTRANSPORTATION

Air Carriers (Scheduled Service)

Certificated route carriers:Passenger-miles (revenue) . . . bil

Passenger-load factor percentTon-miles (revenue) total mil

Operating revenues (quarterly) # § mil $Passenger revenues doCargo revenues do....Mail revenues do

Operating expenses (quarterly) § doNet income after taxes (quarterly) § do

Domestic operations:Passenger-miles (revenue) bilCargo ton-miles mil..Mail ton-miles do

Operating revenues (quarterly) § mil. $..Operating expenses (quarterly) § do....Net income after taxes (quarterly) § do

International operations:Passenger-miles (revenue) bil..Cargo ton-miles milMail ton-miles . do....

Operating revenues (quarterly) § mil. $..Operating expenses (quarterly) § doNet income after taxes (quarterly) § do....

Urban Transit Systems

Passengers carried, total mil..

Motor Carriers

Carriers of property, large, class I, qtrly.: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, tons..

Freight carried — volume indexes, class I and IIintercity truck tonnage (ATA):

Common carriers of general freight,seas, adj 1967 = 100..

Class I Railroads |

Financial operations, qtrly. (AAR), excl. Amtrak:Operating revenues total 4£ . . . mil $

Freight doPassenger, excl. Amtrak do....

Operating expenses doNet railway operating income do....Ordinary income do

Traffic:Revenue ton-miles qtrly (AAR) bilPrice index for railroad freight 1969 — 100

Travel

Lodging industry:Restaurant sales index same month 1967 = 100..Hotels: Average room sale 0 dollars..

Rooms occupied % of total-Motor hotels: Average room sale 0 dollars..

Rooms occupied % of total-Economy hotels:* Average room sale 0 dollars..

Rooms occupied * % of total-

Foreign travel:U.S. citizens: Arrivals (quarterly) thous..

Departures (quarterly) do....Aliens: Arrivals (quarterly) do....

Departures (quarterly) do....Passports issued do....

National parks, recreation visits # # do....


25964590

32850

36013303262404

70536715

-870

210153,0391004

28,73029,466

-690

49.432430

399

6,4356454-192

7,714

100215,404

81282

128.9

2709325615

373

27094805

1 192

797.83514

19661.71

6341.16

6424.96

64

29,388210,2752 10,909

29,0473,664

48,901

2281 15607

235 680

2222 57233831064

548422704

415

7,859

'135.9

2672625829

107

2672612961217

826.23558

20264.51

6442.30

6628.69

65

11,55911,5328,6237,1214,152

49,328

2188603

2777

180426388

38420632

656

130.2

3553

19867.24

6843.49

6924.56

63

474

2,260

2295591

2895

184127582

45421034

664

r!34.0

3554

21862.94

6642.17

6824,81

64

392

3,832

259065 1

3213

95708178

612161

946524

204428985

7,6737728

-81

5.4621732

1,8041655

100

661

1004,029

121

41

135.9

65846750

77

6346247255

20393554

22064.45

6843.53

7230.03

72

2,9873,3872,2321,889

490

6,418

2666634

3293

204427981

6.2123532

593

150.9

v-

3556

21261.63

6244.24

7231.38

78

340

9,776

27.31646

3366

209729584

6.3422432

658

138.9

3556

20063.25

6842.74

7431.16

76

344

9,058

21.60573

2812

10,5609014

666153

9942351

164129282

8,2317,907

99

5.1924731

2,2061935

234

653

1004,254

113

43

139.4

68086579' 26

6319399371

21083556

20368.16

6442.09

6428.17

69

4,0733,8332,5952,257

260

6,078

22.49590

2945

177530988

4.7426335

687

138.7

357 1

22368.50

7241.55

6729.47

65

41079494346434612222

4,454

20.83567

2784

172931191

3.7425941

672

139.3

3571

20264.39

6441.89

6232.34

63

4661461845604523219

2,104

22.51569

2965

1842297129

4.0923454

658

1004,489

87

44

142.4

69376703

27

6396385430

2153357 2

20464.01

5040.52

503247

51

479441,003

46804575255

1,115

21.49537

2732

174226290

4.0719634

647

144.8

3707

272

2014538

2619

167427190

3.4021232

660

139.6

3707

372

24.74600

3196

2053320101

4.2226437

725

142.3

2230371 0

471

51534

667

"147.0

4699r371 1

'507

51556

471 6371 1

"600



1982 1983

Annual

1983


1984


TRANSPORTATION AND COMMUNICATION—ContinuedCOMMUNICATION

Telephone carriers:Operating revenues $ mil. $..

Station revenues doTolls message do

Operating expenses (excluding taxes) doNet operating income (after taxes) doPhones in service end of period mil

Telegraph carriers:Domestic:

Operating revenues mil $Operating expenses doNet operating revenues (before taxes) do....

Overseas, total:Operating revenues doOperating expenses doNet operating revenues (before taxes) do....

73,808316782809951269119511578

8093678786.8

6077495283.7

78092330903032553095127971344

6,4852760233142991 1391545

69957984

4994363.5

64982760235843781 0941534

72859692

5234435.6

65422775235244431 0431468

7446099.9

53944 16.9

65042750231143251 1231446

7006065.8

4084351.8

6,5582725249843321 1581425

75563.58.2

50.34384.0

6,5692,75423184,1371 1951406

7416048.6

50.24384.0

6,67328022352465110381386

73163.26.2

52.54475.5

6,5602,78023014,716

9481365

74666.24.9

53.44495.9

6,660275723695,647

488134.4

CHEMICALS AND ALLIED PRODUCTSCHEMICALS

Inorganic Chemicals

Production: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, anhydrous $ do....Sodium tripolyphosphate

(100% Na5P3Oi0) $ do....Titanium dioxide (composite and pure) $ do....

Sulfur, native (Frasch) and recovered:Production thous. met. tons..Stocks (producers') end of period do....

Inorganic Fertilizer Materials

Production:Ammonia, synthetic anhydrous $

thous. sh. tons..Ammonium nitrate, original solution $ do....Ammonium sulfate $ do....Nitric acid (100% HNO3) $ do

Nitrogen solutions (100% N) $ do....Phosphoric acid (100% P2O6) $ do....Sulfuric acid (100% H2SO4) $ do....

Superphosphate and other phosphatic fertilizers(gross weight):Production thous. sh. tons..Stocks end of period $ do

Potash, sales (K2O) do ...

Exports, total # do....Nitrogenous materials doPhosphate materials doPotash materials do

Imports:Ammonium nitrate do....Ammonium sulfate doPotassium chloride do....Sodium nitrate do

Industrial Gases $

Production:Acetylene mil. cu. ft...Hydrogen (high and low purity) do....Nitrogen (high and low purity) do....Oxygen (high and low purity) do....

Organic Chemicals §

Production:Acetylsalicylic acid (aspirin) mil. lb..Creosote oil mil galEthyl acetate (85%) mil. lb..Formaldehyde (37% HCHO) do....

Glycerin, refined, all grades do....Methanol, synthetic mil. gal..Phthalic anhydride mil. lb..

ALCOHOL

Ethyl alcohol and spirits:Production mil. tax gal..Stocks, end of period do....

Denatured alcohol:Production mil. wine gal..Consumption (withdrawals) do....

For fuel use * doStocks, end of period do....

115491762460

361

9385664864

651657

*86144,202

15,7767,0911,7697390

2,7288,262

32,680

13,139892

5186

203372645

119971218

262319

7,154131

3,82888,884

483,886348,548

'23.4*363

*235.4*4,816.5

229.51 1,137.7

X684.4

601.195.0

284.9277.94196.6

1 14499602608'366

10230732855

669757

*81563,218

13,6836,6181,9687373

32,4039,950

34,725

15,774844

6271

228321982

14837'804

347285

787597

3,304103,859579,574347,394

Ô.S*756

ôe.o'5,398.0

265.4X997.5^Sl.S

677.378.6

352.8355.55526.5

8781018830

8505770

5168

6453,760

1,182607160650

2228895

2,983

1,402820458

1933219

125848

4433

76523

2658,251

48,54028,659

2.762

106490.5

16.490.4717

46.058.3

28.230.655

11.9

10084819831

8817476

5059

6723,692

1 140581177626

242754

2,757

12371069

627

1568161

1 12233

3918

67916

3118,173

49,83128,668

2.468

150461.5

21.193.469.7

56.558.8

33.736.1788.8

10780622630

8166562

5365

6463,717

1,011506161551

3 179650

2,451

1,0861023

474

1983247

1 12793

1216

40322

2538,209

47,34428,014

2.279

152442.9

26 191.8803

60.250.9

30.432.5037.7

8787222027

8955763

6062

6783,721

975420170505

3 149731

2,551

1 1251017

326

1787148

1 19448

224

3967

2488522

49,13129,451

2.557

142415.0

19997.5695

63.860.1

31.232.3654.7

11788323530

8845870

6262

6853,658

1096391161479

3 192800

2,729

1251812597

1892134

1 12697

1529

7178

2977758

49,98629,424

2.468

15.0437.3

20.277.963.5

56.942.7

27.632.5678.4

10186224032

8897674

5668

6903,560

1,137461167584

3205832

2,910

1,329658691

2113'l67

144493

3811

6293

2988864

47,75530,781

1.966

156462.6

23494.0641

59.249.3

23.224.4296.3

8686222834

8797771

5967

7143,493

1,213604184690

3226924

3,120

1439582638

1815157

120644

2817

8406

2921052348,79530,657

3.269

151498.8

24674.7599

54.955.7

26.129.3137.5

9185722534

8725273

6063

7373,369

1,238648175702

3237934

3,211

1501641646

1894178

1 18554

4614

710o

31510,14948,34729,512

2.66 1

167453.1

24 180.1589

53170.9

27.22391 4

10.3

10080320730

8135866

5567

7613,218

1,245597160649

3213952

3,383

1463844457

1651'l37

105178

2640

7424

3129445

49,70328,009

2.27 7

163462.6

20960.3701

48078.6

23.4262236.5

(4)79625731

8035966

5360

7413,172

rl,279592163r6383217'856

r3,154

1388867566

2344186

143292

3460

70621

2979715

51,36931,331

2.660

156422.1

26286.6733

49373.5

29.529772

11.3

7293,141

1,326597176683

3237856

3200

1455964510

155345

89979

5319

79024

2.772

163469.0

254119.170 1

459570

34.229038

18.2

578353,139

1448631181716

3266963

3494

1531984414

2096150

139871

6641

955o

2873

1465000

2701045775

P529

2017383

1 09154

5784

89712




1982 1983

Annual

1983


1984


CHEMICALS AND ALLIED PRODUCTS—ContinuedPLASTICS AND RESIN MATERIALS

Production:Phenolic resins ... mil Ib.Polyethylene and copolymers do....Polypropylene doPolystyrene and copolymers .. ... .... do ...Polyvinyl chloride and copolymers do....

MISCELLANEOUS PRODUCTS

Explosives (industrial), shipments, quarterlymil Ib

Paints, varnish, and lacquer, shipments: 0Total shipments mil $

Architectural coatings do ...Product finishes (OEM) doSoecial ouruose coating's do....

1 1,397 71 12,548.0'3 515 015,608.615,397.2

25149

7 11263,113.4259841.400.8

ll 404 51 13,837.5'4 452 3'5 542.115,626.5

22293

855333 846.5300371.703.1

11221,139.1

33784595478.1

7448346.12545144.3

11261,157.0

3630463.3513.2

8024380.32698152.3

11971,143.3

38634694535.3

5375

8935454.82804158.2

105 11,188.8

376 1433.7492.7

7634367.12443152.0

12471,136.7

35314323454.8

8312392.82720166.3

12301,208.1

4099464.4487.5

5898

7838344.4275 1164.3

13281 257.1

40784927483.8

7188292.72765149.5

11801,194.4

3889495.9441.1

6324232.62584141.4

13741 088.6

36624456354.9

6146

5516204.92252121.6

12321,194.2

388 1473.9498.8

r680 1r257.7r2878134.7

12851 194.1

4134498.4576.8

7342296.82862151.2

13241,321.5

4394512.8640.7

668.8

832.6359.23177155.7

ELECTRIC POWER AND GASELECTRIC POWER

Production:Electric utilities, total mil. kw.-hr..

By fuels do....By waterpower do

Sales to ultimate customers, total (Edison ElectricInstitute) t mil. kw.-hr..

Commercial § do....Industrial § do

Railways and railroads do....Residential or domestic do....

Street and highway lighting doOther public authorities doInterdepartmental do....

Revenue from sales to ultimate customers (EdisonElectric Institute) $ mil $

GASf

Total utility gas, quarterly(American Gas Association):

Customers, end of period, total thous..

Residential do....Commercial doIndustrial do ..Other do

Sales to customers total tril Btu

Residential doCommercial . ... doIndustrial do....Other do

Revenue from sales to customers, total mil. $..

Residential do ..Commercial doIndustrial .. doOther do

2,241,2111,931,998

309,213

rl2,098,321rl516,457rl770,156

4,288"732,018

rl!4,214r'55,751

r'5,438

rl 121,375

48,519

44,6523,636

18546

14,280

'4,7702,471

'6,892148

'63,391

'23,70111,666'27,389

'635

2,310,2851,978,154

332,130

2,163,749532,558801,604

4,152751,432

13,97454,4695,559

130,363

48,940

45,0403,670

18346

12,673

'4,4952,344

'5,688145

'64,095

'26,14512,691'24,557

'702

170,372140,38429,989

174,392143,19831,194

191,048160,35630,692

501,648123,083199,884

953160,273

3,17012,9991,286

29,515

48,815

44,9053679

18347

2,694

931483

1,24931

13,897

5,5602,6835,511

143

220,165192,05228,113

229,957204,13025,828

195,604173,89221,712

603,471153,091208,702

1092221,583

3,33513,9551,713

38,274

47,915

44,1543,532

18346

2,252

384287

1,55922

10799

2,6151,5686,521

94

182,931162,18420,747

182,949158,27024,678

212,319180,62831,691

532,089131,159205,110

916175,847

3,71713,9911,350

31770

48,940

45,0403,670

18346

3,428

1,258648

1,48140

17,049

7 1983,4176,236

198

216,450186,71029,738

189,498161,59727,901

FOOD AND KINDRED PRODUCTS; TOBACCOALCOHOLIC BEVERAGES

Beer:Production mil bblTaxable withdrawals do....Stocks, end of period ... . do .

Distilled spirits (total):Production mil tax galConsumption, apparent, for beverage

purposes mil wine gal..Stocks, end of period ."! mil. tax gal-Imports mil. proof gal..

Whisky:Production mil tax galStocks, end of period do ..Imports mil proof gal

Wines and distilling materials:Effervescent wines:

Production mil. wine gal..Taxable withdrawals doStocks, end of period do....Imports do

Still wines:Production doTaxable withdrawals do....Stocks end of period doImports . . .. ... . . . . do .

Distilling materials produced at wineries do....


19501176.571322

138082437.66604.67106.03

91.25533.397660

31.0129 1813.00835

55047362.786975211379

190.27

192 14177.6113.26

119412431.13551.47113.77

72.51480.388128

37.10325116.1111 11

'429 30365.206864711983

174.89

155415.491621

1182

3372609.20

6.56

8.73537.72

443

3.231 14

17.18077

54532.56

58398858

7.62

181716.841584

11 19

3406605.58

7.09

7.4753341

483

2.84367

16.81072

6 1031.54

55434935

7.26

184717.011582

923

38.65604.56

15.46

6.20535.111220

3.15178

17.08080

68333.67

511611087

4.44

185016.851573

562

3196566.89

648

3.5150007

412

3.26139

19.64074

43328.26

48730968

7.86

182717.351498

624

3380587.02

8.51

3.7252463

611

3.47274

20.14069

267828.12

467 11949

14.33

157114.841453

1027

3375590.45

735

4.7652300

477

4.33285

21.58084

1722129.88

59540972

45.11

153013.771430

1228

3434580.9315.03

4.02511581126

3.79608

19.00121

1395732.32

683051097

40.91

136213.171392

927

43 13569.00

1097

5.2649723

733

281356

17.64148

356534.07

666 151136

14.10

124611.981326

855

5045551.47

11.77

5.3848038

866

289456

16.111 72

13 1730.13

686471120

5.92

14 1512421370

1036

3054576.46

720

6.2150569

484

146125

16.951 36

66625.90

6190811293.30

1475126314 17

1199

577.43946

8.8250706

684

294095

17.70080

60527.64

601 11793

228

177215321524

758

465

081

902

11 12

7 80

1 02

1080



1982 1983

Annual

1983


1984

Jan. Feb. Mar, Apr. May

FOOD AND KINDRED PRODUCTS; TOBACCO—ContinuedDAIRY PRODUCTS

Butter, creamery:Production (factory) mil. lb..Stocks, cold storage, end of period do....Producer Price Index, Grade A

and AA (N.Y.) * 1967 = 100..

Cheese:Production (factory), total mil. lb..

American whole milk do

Stocks cold storage end of period doAmerican, whole milk do

Imports.... do....Price, wholesale, cheddar, single daisies

(Chicago) $ per lb..

Condensed and evaporated milk:Production, case goods mil. lb..Stocks, manufacturers', case goods, end of

period do

Exports do

Fluid milk:Production on farms . . . doUtilization hi mfd. dairy products do....Price wholesale U S average $ per 100 lb

Dry milk:Production:

Dry whole milk mil. lb..Nonfat dry milk (human food) do....

Stocks, manufacturers', end of period:Dry whole milk do....Nonfat dry milk (human food) do....

Exports, whole and nonfat (human food) do....Price, manufacturers' average selling, nonfat dry

milk (human food) $ per lb..

GRAIN AND GRAIN PRODUCTS

Exports (barley, corn, oats, rye, wheat) mil. bu..

Barley:Production (crop estimate) doStocks (domestic), end of period, total do....

On farms do....Off farms do

Exports, including malt § doProducer Price Index, No. 2 feed,

Minneapolis * 1967 = 100..

Corn:Production (crop estimate, grain only) mil. bu..Stocks (domestic), end of period, total do....

On farms doOff farms do

Exports, including meal and flour do....Producer Price Index, No. 2, Chicago * 1967 = 100..

Oats:Production (crop estimate) mil. bu..Stocks (domestic), end of period, total do....

On farms doOff farms do .

Exports, including oatmeal do....Producer Price Index, No.2, Minneapolis *

1967 = 100..

Rice:Production (crop estimate) mil bags $California mills:

Receipts domestic, rough mil lbShipments from mills, milled rice do....Stocks, rough and cleaned (cleaned basis), end

of period mil lb

Southern States mills (Ark., La., Tenn., Tex.):Receipts rough from producers mil lbShipments from mills, milled rice do....Stocks, domestic, rough and cleaned (cleaned

basis), end of period mil. lb..

Exports doProducer price, No. 2, medium grain (South-

west Louisiana) . .. . $ per lb

Rye:Production (crop estimate) mil buStocks (domestic), end of period do....Producer Price Index, No.2,

Minneapolis * 1967—100

Wheat:Production (crop estimate) total mil bu

Spring wheat do....Winter wheat do

Distribution, quarterly @ do....

Stocks (domestic) end of period total doOn farms . .... do....Off farms do

Exports total including flour doWheat onlv do....

1,257.0466.8

230.9

4,541.72,752.3

963.5880.8269.3

1.684

734.9

51.9

19.3

135,80279,098

13.60

102.21,400.5

6.093.3

187.8

3,524.8

2522.4418.1293.9124.266.4

162.6

28,359.48,284.26,016.92,267.31,924.9

193.5

2620.5475.6399.875.8

5.8

272.0

2153.6

2,9121,619

503

11,4827,020

3,170

5,516

0.166

221.010.9

293.2

22,8122700

22,1122,476

2,520.71,166.21,354.5

1,527.51.493.6

1,299.2499.4

230.0

4,818.42,927.6

1,204.61,099.7

286.2

1.682

694.2

46.7

5.6

139,96882,501

13.60

111.21,499.9

6.474.6

321.6

0.938

3,440.2

2519.0375.7253.1122.671.6

180.9

24,203.84,934.33,102.01,832.41,876.5

248.4

2477.3378.4322.556.0

2.8

252.6

299.7

2,7301,884

478

9,1436,289

2,703

5,151

0.172

228.296.3

210.7

22,4252432

21,9942,626

2,326.41,015.91,310.5

1,488.31.407.6

124.0555.7

413.1263.4

1,132.31,031.8

22.1

1.666

60.5

60.7

0.4

11,9667,29313.60

9.2139.2

5.089.5

23.6

0.943

279.8

0.2

170.7

157.6245.9

0.3

246.6

240166

381

357495

2,451

446

0.165

210.5

121.7111.8

120.7576.1

229.9

439.4284.7

1,138.11,032.9

22.8

1.675

62.6

74.6

0.5

12,6427,67213.30

9.4153.6

5.499.0

22.9

0.941

254.5

4222.84142.9

479.92.4

162.2

34,962.333,133.331,829.1

149.1248.8

4230.241915

438.6

0.3

245.2

105186

268

325529

1,757

438

0.170

46.3

210.5

41,540.74694.94845.8

102.795.3

103.7589.6

229.9

444.7286.2

1,162.41,048.9

16.6

1.684

66.2

75.7

0.3

12,2737,78813.20

8.8154.2

5.891.7

33.0

0.940

275.1

2.0

169.9

151.2253.3

0.2

238.8

216172

351

216672

1,276

550

0.175

193.3

6337

121.8112.0

91.4588.4

229.9

402.1260.8

1,194.21,083.0

20.1

1.684

58.4

94.0

0.4

12,0617,16013.20

7.8143.4

5.999.2

19.0

0.939

248.9

1.3

165.6

123.7252.8

0.4

226.7

213122

246

135458

952

360

0.175

195.5

123.5115.8

84.6581.8

230.5

381.3228.8

1,231.41,124.0

21.1

1.684

56.4

101.5

0.5

11,6926,76213.30

9.3125.3

4.985.8

22.9

0.940

220.3

6.0

195.4

119.4274.4

0.3

244.4

393309

269

951450

1,146

488

0.175

210.5

94.787.5

84.7552.3

234.1

373.0209.4

1,248.21,140.9

24.3

1.691

52.3

94.1

0.5

11,2626,37413.50

9.4102.1

4.469.7

47.3

0.936

285.7

5160344.41716

14.2

223.0

53,140.351 531 75 1,608.6

142.9273.1

505.3426279.1

0.1

278.6

7300263

'211

2,332535

2,162

624

0.175

(8)

233.7

61001

2,966.11,248.817173

127.6119.2

100.5523.9

232.2

391.9222.6

1,234.81,131.1

25.8

1.699

53.2

82.0

0.7

11,4306,32113.80

10.2102.7

4.467.9

36.4

0.937

286.6

8.1

225.1

155.0268.4

0.5

286.4

45199

405

1,340489

2,569

460

0.175

214.8

122.9114.8

98.1506.7

232.2

388.2217.8

1,214.81,110.6

27.5

1.699

60.2

56.0

0.9

11,0006,12713.90

10.599.4

4.663.1

35.6

0.937

310.5

9.1

229.3

196.4277.6

0.1

284.2

18383

442

732516

2,573

378

0.175

223.4

104.9102.3

109.6499.4

222.1

415.4236.8

1,204.61,099.7

41.4

1.684

63.2

46.7

0.7

11,3956,43513.70

9.9111.1

6.474.6

30.6

0.919

320.4

375.7253.1122615.6

199.6

4,934.33,102.01,832.4

175.2255.8

378.4322.556.0

0.2

276.4

15466

478

930504

2,703

359

0.175

214.8

642

2,326.41,015.91,310.5

129.3128.4

126.0510.6

222.1

387.4231.1

1,202.21,096.8

22.1

1.689

48.8

47.1

0.8

11,4906,58313.60

10.4111.9

5.766.0

29.1

0.912

300.9

7.8

216.6

172.6255.9

0.1

282.1

296181

482

829498

2,776

299

0.175

213.1

120.2118.3

113.0532.5

222.4

369.1221.4

1,219.81,116.4

16.7

1.689

44.6

50.0

0.5

10,9056,41313.40

9.2105.0

5.462.8

13.1

0.910

277.6

6.0

216.6

158.4246.7

0.1

250.1

8786

413

488548

2,592

220

0.175

210.5

113.1111.0

111.1529.3

224.0

412.9247.6

1,217.41,117.3

19.2

1.689

51.2

52.8

0.6

11,7416,97113.20

11.3109.2

5.858.9

8.8

0.911

313.3

2735173.899711.2

223.4

3,257.81,944.21,313.5

176.4268.1

269.4226942.5

0.3

267.9

243151

461

522562

2,418

462

0.175

214.8

1,752.8771.59813

125.3118.7

106.2531.2

415.3250.3

1,171.61,070.7

24.2

1.689

57.3

60.7

0.7

11,6746,94313.10

10.6113.8

5.267.0

12.9

0.911

281.6

6.0

236.1

174.6280.8

0.2

272.9

226136

505

347479

1,902

432

0.175

223.4

101 979

100.894.3

225.7

1.689

"12.90

•

237.8

274.3

280.7

0.175

219.1




1982 1983

Annual

1983


1984


FOOD AND KINDRED PRODUCTS; TOBACCO—ContinuedGRAIN AND GRAIN PRODUCTS— Continued

Wheat— ContinuedProducer Price Indexes: *

Hard, winter Ord, No.l, Kans. City1967=100..

Spring, No. 1, D.N. Ord, Minneapolis1967=100..

Wheat flour:Production:

Flour thous sacks (100 Ib )..Millfeed thous. sh. tons..

Grindings of wheat thous buStocks held by mills, end of period

thous sacks (100 Ib )Exports do ...Producer Price Index * 6/83—100

POULTRY AND EGGS

Poultry:Slaughter mil IbStocks, cold storage (frozen), end of period, total

mil. Ib..Turkeys . 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..

LIVESTOCK

Cattle and calves:Slaughter (federally inspected):

Calves thous apitnalsCattle do....

Prices, wholesale:Beef steers (Omaha) $ per 100 IbSteers, stocker and feeder (Kansas City) do....Calves, vealers (So. St. Paul) do....

Hogs:Slaughter (federally inspected) thous. animals-Prices:

Wholesale, average, all weights (Sioux City)$ per 100 Ib..

Hog-corn price ratio (bu. of corn equal in valueto 100 Ib. live hog)

Sheep and lambs:Slaughter (federally inspected) thous. animals-Price, wholesale, lambs, average (Omaha) $

$ per 100 Ib..

MEATS

Total meats (excluding lard):Production . mil IbStocks, ™>ld stnragftj end of period do ,Exports (meat and meat preparations) doImports (meat and meat preparations) do....

Beef and veal:Production total . doStocks, cold storage, end of period do....Exports do .Imports do

Price, wholesale, beef, fresh, steer carcasses,choice (600-700 Ibs.) (Central U.S.) $ per Ib..

Lamb and mutton:Production, total mil. Ib..Stocks, cold storage, end of period do....

Pork (excluding lard):Production, total doStocks, cold storage, end of period do....Exports . doImports do

Prices:Producer Price Index, Hams, smoked

1967 = 100..Fresh loins, 8-14 Ib. average,

wholesale (N.Y.) $ per Ib..

MISCELLANEOUS FOOD PRODUCTS

Cocoa (cacao) beans:Imports (incl. shells) thous. Ig. tons-Producer price, Accra (New York) $ per Ib .

Coffee:Imports, total thous. bags 0..

From Brazil ,,,. doProducer price, Santos, No. 4 (N.Y.) $ per Ib..

Fish:Stocks, cold storage, end of period . . .. mil Ib


240.8

221.5

284,9655,137

640 158

427614,518

15 146

345204

0.250

193.6

3425

0.668

272933,907

642262.7977.70

79,328

55.21

224

6,273

53.03

37266554

15662,015

22789302540

1446

1.013

3569

14 121219282498

306.3

1.277

194.20.924

17,41633721.420

383

237.2

228.3

306 0665,563

686 983

380534628

15547

281162

0.270

189.2

1312

0.727

279834816

625261.3972.97

84,762

47.73

166

6,412

54.74

38974679

14492,031

23487334571

1382

0.978

36811

15120301251555

'292.6

1.159

181.01082

16,44934181.400

425

253.6

237.4

24118438

53866

4,256

1275

333192

0.235

15.6

2322

0.649

2022,615

677065.9077.12

7,086

47.84

159

509

58.75

3051608133178

175928546

123

1.078

308

12622733248

290.1

1.180

3.80.960

1,253259

1.415

286

245.1

239.2

25759460

58064

3193

1329

345210

0.255

15.9

3221

0.684

1942820

675163.8876.00

6,905

47.40

15 1

508

59.00

3163619115187

189127240

131

1.050

309

12432932247

281.5

1.162

14.41000

1502292

1.415

292

238.0

228.7

25088449

56734

34904 1721000

1409

406256

0.270

15.4

4421

0.680

2113000

659060.4171.00

7,028

45.73

144

508

53.00

3299595118176

200426144

122

1.024

299

1 2662802246

275.5

1 173

11.11200

1034229

1.415

318

221.4

224.8

24700445

55238

3293999

1247

480323

0.295

15.7

2420

0.662

2142737

622258.2175.00

6,362

45.81

139

497

51.12

3002570121189

1 840'259

46134

0.977

288

1 134253

1946

269.2

1 144

961 100

1319'246

1.415

367

227.9

220.7

28861536

65014

3095996

1435

532384

0.305

15.7

2519

0.744

2623220

612759.5875.00

7,082

49.77

139

585

49.25

344054399

181

2 157'275

42128

0.950

339

1 250'214

1645

273.2

1 156

721220

1230310

1.430

417

238.5

236.4

27423502

61869

359936211000

1357

578432

0.305

15.3

2516

0.762

2583 156

591955.8173.38

7,268

46.05

133

595

48.50

3435535130171

2 12827758

117

0.921

339

1 2732101645

280.7

1 129

611050

1532344

1.430

421

231.5

238.4

26125474

58366

3,469984

1368

601460

0.280

15.8

4514

0.779

2593099

595856.9766.75

7,829

41.64

128

580

51.75

3523577127169

2 10328753

112

0.912

329

1 3882402350

283.0

1062

531 108

1685307

1.430

417

228.8

235.8

24923456

56246

1122966

1266

376252

0.325

15.5

1813

0.884

2662899

594158.1267.50

8,152

38.81

118

510

56.00

3472668134123

1 9743255971

0.916

2910

1 4582952344

284.7

0954

771 150

1380240

1.430

415

229.2

232.7

24,464443

54997

3805'395961

1 172

281162

0.335

16.0

1312

0.986

2622994

628561.0067.50

7,515

46.53

140

536

57.75

3383679119104

20023344354

0.998

3011

1 3503012343

303.9

1070

821 270

1253265

1.430

425

229.8

230.2

'24 766'445

'55 695

830'964

1208

277161

0.360

15.8

2811

1.123

2532951

670864.3964.94

6,947

50.14

'154

540

60.50

3218693112180

1 95234950

118

1.057

318

1 2<U2951853

'288.6

1 246

1551320

1 598279

1.430

406

219.2

222.3

25482465

57537

883959

1 168

251146

0.365

14.8

1711

1.026

2362836

670765.9777.50

6,591

46.68

146

548

58.75

3092708104167

1 894343

47108

1.029

328

1 165312

1652

283.1

1 152

21 31 340

1 299149

1.430

368

229.1

231.9

25958472

58494

37802,846971

'1 269

260149

0.365

16.1

3612

0.883

2642954

686066.3077.50

7,578

47.36

143

586

58.75

3349738134171

1 97733667

107

1.051

358

1 3383511856

279.6

1 072

2871 335

1 440267

1.430

344

236.2

236.7

2,802994

1 253

264142

0.340

15.7

3112

1.018

2262728

678664.1577.50

6,953

48.69

'14 3

592

60.50

3079775106198

1 81233546

113

1.035

349

1 233388

1975

287.0

1 112

1691 283

1 905313

1.430

324

228.0

243.2

988

0.310

0.743

658960.8278.00

48.22

142

62.25

0.996

286.3

] 350

1.430



1982 1983

Annual

1983


1984


FOOD AND KINDRED PRODUCTS; TOBACCO—Cont.MISCELLANEOUS FOOD PRODUCTS— Cont.

Sugar:

Exports, raw and refined sh. tons..

Imports, raw and refined thous. sh. tons..

Producer Price Indexes: *

Raw (cane) 1967—100

Refined 12/77=100..

Tea imports thous Ib

TOBACCO

Leaf:Production (crop estimate) mil. IbStocks, dealers' and manufacturers',

end of period do

Exports incl scrap and stems thous Ib

Imports incl scrap and stems do

Manufactured:

Consumption (withdrawals):

Cigarettes (small):Tax-exempt millionsTaxable do

Cigars (large) taxable do

Exports cigarettes do

58,512

2,616

2784

161.0

182 613

*1994

5371

562 260

295 740

82078614 017

3056

73585

207,871

2,915

3159

'172.1

170 451

*1429

'5357

509 828

316 917

69680597 463

3030

60698

1,236

238

3198

171.9

15799

43953

29965

426047466

2164319

984333

3231

171.8

16018

33631

24428

582847854

2614687

11555

139

3230

172.8

10931

4990

32728

22307

741160448

2996119

10,506

242

3149

173.8

12159

28635

28582

467842985

2114671

45,455

193

3214

173.0

11747

36045

27161

598054516

3094608

55,973

339

3214

175.1

15025

5209

26430

21462

629452532

2865318

29,866

322

3149

175.1

16531

51706

35975

574349628

2724941

16,605

333

3141

173.9

13600

87912

37916

560353075

2715190

31,825

253

3116

173.8

15631

r5357

60302

22646

537443212

2245171

28,400

269

3094

'174.7

15599

41984

29 786

5,24349948

2433775

33,940

358

3157

173.4

15956

40165

43619

479044583

2264366

30,094

278

3148

174.2

20,235

5168

43329

40005

4893

32,915

299

3144

174.5

18,031

32400

27690

5081

3154

174.6

LEATHER AND PRODUCTSLEATHER

Exports:Upper and lining leather thous. sq. ft..

Price, producer:Sole, bends, light ... index 1967—100

LEATHER MANUFACTURES

Footwear:Production, total thous. pairs..

Shoes, sandals, and play shoes, except athleticthous. pairs..

Slippers doAthletic do. ..Other footwear do

Exports do

Prices, producer:Men's leather upper, dress and casual

index, 12/80=100..

Women's leather upper index, 1967—100..Women's plastic upper index, 12/80=100..

159,804

4342,3804260,840

464 892416,648

43703

7717

105.2

215.897.9

155,808

340,966

263,5086106216,3964970

6158

107.0

222.3100.7

15,200

27,001

20,70246161,683

561553

107.0

224.399.9

13492

29970

23,12551761669

540486

104.6

224.699.9

14,868

28472

2213950201313

446546

107.6

222.699.8

12,013

22,528

18,8033021

704346520

107.3

221.8101.1

13,099

30,372

2346558111096

308591

107.8

222.2102.0

12,715

29,835

23,3755585

875397506

108.1

224.8102.9

14,027

29,051

22,03959361076

408539

108.0

224.6102.9

12,400

;

27,736

20,61760141 105

326454

107.4

224.3102.9

9,412

24,943

1980038891254

224394

107.4

220.0100.5

13,624

r26,690r20,884

r46161190

231361

r!08,2

'221.7'102.3

13,015

28,458

22,18552161057

303344

108.4

221.3102.5

17,787

29,448

22,89354401,115

370450

108.4

223.1103.1

14,772

468

108.2

219.3103.3

107.8

219.7103.3

LUMBER AND PRODUCTSLUMBER— ALL TYPES #

National Forest Products Association:Production total mil bd ft

Hardwoods do .Softwoods do

Shipments, total ... doHardwoods . doSoftwoods do

Stocks (gross), mill, end of period, total do....Hardwoods doSoftwoods . do

Exports, total sawmill products do....Imports, total sawmill products do....

SOFTWOODSDouglas fir:

Orders, new mil. bd. ft..Orders, unfilled, end of period ... .... do

Production doShipments do....Stocks (gross), mill, end of period do....

Exports, total sawmill products do....Sawed timber . . . ... ... . doBoards, planks, scantlings, etc do....

Producer Price Index, Douglas fir, dressed t1967=100..

325 79534,77421021

325 9603493521025

5,7451,7663979

9,421

5,976612

5,7435,793

862471125345

266.2

331 4793572125758

331 3583589625462

5,86615914275

12,293

7,571673

76467,510

998569129439

363.8

2623'374

22492683

4522231

5,9241,5644360

885

635684682649

1,088

601743

375.5

2645396

22492775'431

2344

5,82415564268

1,153

714692693706

1,075

631648

390.2

2718444

2274

2764'452

2312

5,77215424230

1,099

675648644719

1,000

501039

404.7

2585458

2 1272537'465

2072

5,81715324285

1,048

584636613596

1,017

349

25

407.0

2714504

2210

2669'498

2 171

5,85815344324

1,090

543567583612988541441

381.4

2748497

2251

2737483

2254

5,87015494321

1,057

717639671645

1,014

357

28

345.3

2787502

2285

2795'489

2306

5,86215624300

1,118

642625676656

1,034

481137

332.0

2504493

20112404

4801 924

5,96415774387

1,092

529599581555

1,060

465

40

318.7

2345416

19292445

4042041

5,86615914275

885

688673552614998438

34

324.7

2740454

2286

2589452

2 137

6,02115974424

941

740753708660

1,046

381028

322.8

2678484

2194

2603'479

2 124

6,09716034494

1,135

631762666622

1,090

449

35

351.7

3104'487

2617

3022490

2532

6,17815764602

1,108

848815819795

1,114

571344

369.7

1,098

632701764746

1,132

602239

364.2 335.8




1982 1983

Annual

1983


1984


LUMBER AND PRODUCTS—ContinuedSOFTWOODS— Continued

Southern pine:Orders, new mil bd ftOrders, unfilled, end of period do....

Production doShipments do

Stocks (gross), mill and concentration yards, endof period mil bd ft

Exports total sawmill products thous bd ft

Producer Price Index, southern pine, dressed t1967=100..

Western pine:Orders new mil bd ftOrders, unfilled, end of period do

Production do....Shipments do

Stocks (gross) mill end of period do

Producer Price Index, other softwood,dressed t 1967 = 100..

HARDWOOD FLOORING

Oak:Orders unfilled end of period mil bd ftShipments do.Stocks (gross) mill end of period do

'6,014438

'6 186'5996

1474

245 221

285.9

6880324

6,6816775

1055

356.0

4875.0120

'6,821556

'6637'6,703

1408

217 660

319.9

8433410

8,5488347

1256

403.4

8698955

571529

550570

1451

21244

321.3

709426

713705

1 161

403.2

648.573

642556

584615

1 419

21552

325.5

781439

722768

1 115

410.6

658464

534511

594579

1434

16511

334.9

728432

767735

1 147

438.7

759066

546502

570555

1 449

15832

330.0

654413

705673

1 179

437.3

677 154

571487

598586

1 461

12346

323.4

717409

784721

1242

429.3

688953

599503

551583

1429

20057

308.3

814444

789779

1252

388.5

608849

628506

586625

1390

16349

313.5

768446

764766

1250

382.4

739048

502489

536519

1407

20326

316.2

616432

666630

1286

382.6

678147

537556

471470

1408

17001

328.2

699410

691721

1256

394.2

867355

513522

577547

1438

9648

r334.0

738466

724682

1298

r394.0

9 18.639

577498

610601

1 447

17975

337.4

641470

655637

1316

417.2

1049437

677544

661652

1479

14273

334.3

812457

873825

1364

425.2

1049.537

18136

334.8

763422

868798

1 434

416.0

r908540

320.8

393.1

929.338

METALS AND MANUFACTURESIRON AND STEEL

Exports:Steel mill products thous. sh. tons-Scrap doPig iron do....

Imports:Steel mill products doScrap . doPig iron do

Iron and Steel Scrap

Production thous sh tonsReceipts, net . . . doConsumption do....Stocks, end of period do

Prices, steel scrap, No. 1 heavy melting:Composite $ per Ig. ton.

Pittsburgh district do

Ore

Iron ore (operations in all U.S. districts):Mine production thous Ig tonsShipments from mines .... . doImports do

U.S. and foreign ores and ore agglomerates:Receipts at iron and steel plants do....Consumption at iron and steel plants doExports (domestic) do

Stocks, total, end of period . doAt mines doAt furnace yards do....At U S. docks . do

Manganese (inn. content), general imports do....

Pig Iron and Iron Products

Pig iron:Production (including production of ferroalloys)

thous. sh. tons..Consumption ... . doStocks, end of period do....

Producer Price Index basic 6/82—100

Castings, gray and ductile iron:Orders, unfilled, for sale, end of period

thous sh. tons..Shipments total do

For sale . do

Castings, malleable iron:Orders, unfilled, for sale, end of period

thous. sh. tons..Shipments, total do

For sale do....

1,8426804

54

'16663474322

27 127'27 520'56,386

6418

61.516671

'35 433'35 756'14 501

49,872552333 178

5262112 12929,9235,750

477

'43,136'44 409

580

53682154,641

14284119

1,1997520

6

17070641233

27 1493255759,9415838

67.247692

379674474813090

57,197612203471

325673899

25,4943,174

482

48,741'49 213

459

100 1

63793095,448

1829392

106564

1

1 182581

224727235,0295969

68.647700

31652876'567

3,8525406

304

374981649517,2923711

20

4,3334336

625

994

545759446

23248

101688

(2)

13536325

237628175,2335905

60.006750

399153231245

6,7295560

616

37 19215 16318,5343495

38

4,3764480

637

1005

548818484

15259

100805

2

12977139

228628595,0985920

66.217250

426055921 411

6,9925267

r344

373851383220,5083045

45

4,0904214

589

997

572810477

16247

108562

1

1411583

218125294,7626000

67.037450

403459861556

7,3465449

313

3695111647223322972

50

4,2134311

599

997

609707417

19195

100624

(2)

1617425

2368262050096042

70217950

403455421 448

6,2095272

516

353121009322,1873032

28

4,2454273

583

1003

630864533

23238

99720

1

15124418

2409270051116062

73.138350

318940021035

5,4625171

474

357169308

234152993

46

4,1594256

558

1003

626841501

27269

110575

1

17554940

2467298855455837

72698250

3 2074*7491 934

6,2655667

218

347297769

239223038

56

4,3174336

504

98 1

590887521

25279

114671

(2)

18356214

2428300853755944

63.648500

27295 1311 374

6,2445242

1

338315369

250613401

39

4,1194128

488

999

603812474

222710

84751

(2)

17305274

'2247r2804'5086r5838

78569150

2 61140531 531

5,5095 125

682

325673899

254943 174

35

4,084r4034

r459999

637711400

18279

86620

(2)

20825349

2442312857095647

84689800

3 1451 142

600

1,1595 517

155

30 1185 444

210473127

39

4,310r4367

r447

1005

T889r494

30r!3

73663

2

21616055

r2499r3592r5,932r5789

898910300

4 3031251

811

1,5565670

113

28364

16*8572511

63

4,4974467

414

1005

r905r510

r3113

8068322

22246145

285436806,4255876

888110050

48771*477

418

1,8416391

46

2628812396122381654

34

5,0835065

390

100 2

922530

3312

73606

(2)

22165062

873410200

1 238

169

64

5,077

1005

866810200

5,166

100 1




1982 1983

Annual

1983


1984


METALS AND MANUFACTURES—ContinuedSteel, Raw and Semifinished

Steel (raw):Production thous sh. tons

Rate of capability utilization percent

Steel castings:Orders, unfilled, for sale, end of period

thous. sh. tons..Shipments total do

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 do....Plates do....Rails and accessories do

Bars and tool steel total doBars: Hot rolled (incl. light shapes) do....Bars* Reinforcing doBars: Cold finished do. ..

Pipe and tubing do....Wire and wire products doTin mill products doSheets and strip (incl. electrical), total do....

Sheets' Hot rolled doSheets: Cold rolled do....

By market (quarterly):Service centers and distributors doConstruction, incl. maintenance do....Contractors' products doAutomotive do....Rail transportation do....Machinery industrial equip., tools doContainers, packaging, ship, materials do....Other do

Steel mill shapes and forms, inventories, end ofperiod — total for the specified sectors:

mil. sh. tons..Producing mills, inventory, end of period:

Steel in process mil. sh. tons..Finished steel do

Siervice centers (warehouses), inventory, end ofperiod mil. sh. tons..

Consumers (manufacturers only):Inventory, end of period do....Receipts during period . doConsumption during period do....

NONFERROUS METALS AND PRODUCTS

Aluminum:Production, primary (dom. and foreign ores)

thous. met. tons-Recovery from scrap t do....Imports (general):

Metal and alloys, crude doPlates, sheets, bars, etc do....

Exports:Metal and alloys, crude do....Plates sheets bars etc do

Price, primary ingot, 99.5% minimum .... $ per lb..

Aluminum products:Shipments:

Ingot and mill prod, (net ship.) mil lb..Mill products total do

Sheet and plate do....Castings do....

Inventories, total (ingot, mill products, andscrap), end of period mil. lb

Copper:Production:

Mine, recoverable copper thous. met. tons-Refinery, primary do

From domestic ores doFrom foreign ores do.,..

Secondary, recoveredas refined do....

Imports (general):Refined, unrefined,

scrap (copper cont.) do.. .Refined do

Exports:Refined and scrap do

Refined do....

Consumption, refined(by mills, etc.) thous. sh. tons..

Stocks refined end of period . doPrice, electrolytic (wirebars), dom., delivered

$ per lb..

'74 577484

1611017

916

59783

3,4083,4244,136

782

9440'4,85735261013

5,02613324,321

27,9149052

11,132

'12 9726,2602290

'9,2951,03025824,471

'20,883

22.4

8.153

4.7

4.353454.7

3,274'1,666

'6163'176.4

'364,0'1896

0.7600

12,12891165,3291,306

6200

1,139.6'1 227.110648'162.2

570.2

'518.7'2598

381 135.0

1,790668

0.7431

83379554

142727667

'67 454

3,899'3,4483,832

883

'11 666'6,285'41381 197

324213844308

34,7921161913,781

'157136,2762587

12087918

23204532

'23,011

23.4

7.157

5.7

4.946645.9

3,3531,690

7149209.7

36071666

0.7770

13,856106006,3551,496

5009

1,045.71 182410037

178.8

714.74864

2772875

0.7926

7292589

1525750

5399

29824030578

89244635092

252124369

2,841958

1,126

22.3

7.854

4.7

4.4474.4

245140

66919.8

46.4144

0.7600

1,084865503117

5744

85.3107688818.7

94.7716

2302.0

0.8349

7412579

1576357

5612

32727130470

98052635596

262122372

2,905982

1 145

23.3

8056

5.1

4.64644

265139

846228

8212 3

0.7600

1,2351 003

622133

5579

92.8109 191217.8

739450

2143.2

0.8563

6993565

1596257

5986

36030732670

996522371100

273130379

3 14410861222

39151644

6593024

245594

1 1835732

23.2

7855

5.1

474544

261144

829196

14912 7

0.7600

1193924573136

5439

90.41162100 116.1

744540

21329

0.8184

6921543

1565248

5045

29625628067

82840234083

240111328

2,640881

1003

23.8

8057

5.3

483837

284131

72 1215

37 1122

0.7600

1 100878552104

5472

76.98007168.4

682508

309181

0.8295

7020551

1456056

5789

30726832082

104756338199

273115371

3,00510011 181

24.2

8058

5.4

5.0434 1

297142

657207

332132

0.7600

1263890522123

5375

80.08377498.9

760496

35613.4

0.8054

7 134578

1436258

5893

37832633886

1016571337104

290119351

2989984

1 166

38781613

6283004

240558

1 1365671

24.0

7958

5.4

494 i42

299143

566202

41514 4

0.7898

1264875518128

5258

87.388374 g137

416281

1374 1

0.7759

7692602

1446765

6078

36530636274

1 146623405114

305119325

307510511 192

24.5

8260

5.5

483839

320151

582277

27415 0

0.8100

1 154881510134

5296

90.3939796142

47630 7

280142

0.7239

7263587

142T6964

6014

35833836683

1018569331113

309109313

312010611239

24.2

7662

5.6

483737

318151

636222

508143

0.8100

1 174877519140

5208

94.4960802158

403300

10328

0.6958

6991547

1426761

6269

37432038187

1009578320106

30399

402329410491366

43841643

6603598

258638

1 1056092

23.4

7 157

5.7

493534

340148

40 3223

24 114 8

0.8100

1291938593129

5009

89.794781 8129

39321 6

254112

0.7080

7970692

r7084

5980

349343352108

1010585299121

303116322

307710761 155

23.9

7158

5.8

524 138

342135

709333

245202

0.8100

1 186928548

5 176

91.495384 1112

73756 1

395175

0.6879

8142760

71r67

6150

402335378120

1027620276125

321115307

3 1471 1271217

24.8

726 1

6.0

554 44 1

324141

94 9413

20121 5

0.8100

1340934549

5 237

86.3999893106

46031 8

359144

0.7075

9056791

6778

7239

463408421122

1 297'697445147

366129345

36891316l'394

48501553

6633223

311728

1049C6993

24.8

7260

6.2

543940

1143497

19921 8

0.8100

65551 0

30589

0.7531

8997808

5399

389319402111

1 089'616337131

354109334

336412081275

21608254822021 112

105263369

2265

688381

76159

0.8100

729603

32568

9174798

0.8100




1982 1983

Annual

1983


1984


METALS AND MANUFACTURES—ContinuedNONFERROUS METALS AND

PRODUCTS— Continued

Copper-base mill and foundry products, shipments(quarterly total):

Brass mill products mil IbCopper wire mill products (copper cont.) do....Brass and bronze foundry products do

Lead:Production:

Mine recoverable lead thous met tonsRecovered from scrap Qead cont ) do

P° vg /> ^ • > do" '

Stocks, end of period:Producers', ore, base bullion, and in process

(lead content) ABMS thous met tonsRefiners' (primary), refined and antimonial

(lead content) thous met tonsConsumers' (lead content) 0 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 incl reexports (metal) doStocks pig (industrial) end of period doPrice Straits quality (delivered) $ per Ib

Zinc:Mine prod recoverable zinc thous met tonsImports (general):

Ores (zinc content) doMetal (slab blocks) do

Consumption (recoverable zinc content):Ores doScrap all types do

Slab zinc: @Production total $ thous met tonsConsumption fabricators doExports doStocks, end of period:

Producers', at smelter (ABMS) do....Consumers' do....

Price Prime Western $ per Ib

MACHINERY AND EQUIPMENT

Heating, combustion, atmosphere equipment, neworders (domestic) net qtrly $ mil $

Electric processing heating equipment doFuel-fired processing heating equip do

Material handling equipment (industrial):Orders (new) index seas, adj 1967—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, seas. adj. 1972=100..Pneumatic products, seas, adj 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 do....Shipments total do

Domestic doOrder backlog, end of period do....

20142,393

405

5124*5713

50110754

750

735972

33502554

193127,939125441067

53,45038700

*93573152

65392

'3003

49.3Msei

53.12081

1302.5*7095

03

28.277.6

03847

*296965.4

1282

249.2

946

120.9

1531

208202

1,064.45889.60

2 894 752 598 601,043.0

433.30371.7570965599.75150.6

44765041

58810807

745

582717

32802168

96934048115792243

5580040400

35523020

65478

2737

'62.26133

52.91902

261.87753

04

16.771.5

04139

*2745878

*773

2757

979

113.9

1550

201208

1,151.651 069.451 371 501 199 60

823.2

544.50488.754735543045221.6

366413

63831

590

835775

23602117

4535781008

19747003500

2214026

68759

229

24512

51146

224667

(2)

17.973.4

03800

2469

882

1135

1551

180185

79.2573.65

1129510055862.8

39.3037.4037853500126.0

357425

65819

595

937725

20002022

32845

954171

4,7003500

2353527

66710

223

6.6604

4.9144

23.564 101

19.275.6

03811

248.9

916

112.0

1551

192194

93.6088.2098808860857.6

41.7037.90370535.05130.6

283373

42906

645

894865

21 301941

5127781 118

2074,8003500

3113634

66707

210

5.6540

4.4135

21.8657

(2)

20.470.9

03946

605192100

2836

1004

1116

1553

197198

96.4588.45

1457511905808.3

48.8041.1037253310142.2

351372

35798

654

865729

25201932

1222056

986188

4,3003100

2983931

65968

200

142430

44134

160558

(2)

20.168.1

04001

3443

1031

1122

1551

197193

128.751246575406190861.6

46.35420036953195151.6

43139.6

60946

685

75.5625

27401946

2,7571055

2424,6003400

3754091

6.4838

239

7.1507

3.3169

23.26450.1

13.671.5

0.4056

249.3

1041

121.0

154.5

208207

91.0082.6582857275869.8

46.2542.00301528.90167.6

37243.4

211042

715

59.3662

24802169

453,3251 130

2004,7003400

2263604

6.4510

229

1.1604

2.0167

22.7672

(2)

9.674.9

04298

68820.5168

271.9

1050

121.6

1548

223235

102.4598.6094108550878.2

53.35495537603315183.4

370489

641023

691

563689

30302538

713,671

830181

4,8003500

2983074

6.4683

238

2.7640

3.4174

24.1655

(2)

14.573.2

0.4611

355.6

1066

119.0

1549

229231

129.4511560102059315905.6

73.10408543354085213.2

38248.4

52953

66.7

51.9703

32302515

2072,147

892224

4,4003200

2603180

6.4902

217

4.1666

6.0181

24.7701

(2)

16.171.8

0.4755

359.2

1091

121.0

1555

237248

115.35107.65107259615913.6

44.90408540453710217.6

34845.7

611079

745

58.2717

32802446

1693,225

835227

4,8003100

2803020

6.3080

216

10.0592

5.7174

21.8637

(2)

16.773.9

04874

74523.7238

335.2

1126

1194

1563

239244

91.258415

1817515215823.2

60.00483056055435221.6

416444

1281127

779

02512

703,556

856157

4,6003400

2782970

62374

232

1.4672

5.8172

23.2694

(2)

14.4r80.3

04922

321.5

1196

1277

1565

245260

133.201225072556535883.8

55.90530540403555237.0

51

82.9

604,661

846156

4,3003200

4462268

6.2788

250

3.5714

5.316.8

22.17070.1

15.882.1

r0.5061

284.9

1213

1321

1570

259263

133.0512170103059530913.8

69.85660044254040202.6

81

89.8

7473,344

5,4004200

1412840

63665

2.5601

21.6

25.0

15.0

05107

1132

1317

1571

'263248

146.50131901225011235937.8

61.95567566756000257.8

66

856

755375

375

2.2658

25.8

(2)

20.0

116 1

1322

1581

260253

'179.80135 70P101 60

r9270r 1,016.1

73.30659057 255230273.9

24.7

25.3

1349

"192.05P170 40"147 30"139 55

'1,060.8

"128.10121 85

P58 40P5120"343.6




1982 1983

Annual

1983


1984


METALS AND MANUFACTURES—ContinuedMACHINERY AND

EQUIPMENT-Continued

Tractors used in construction, shipments, qtrly:Tracklaying, total units..

mil $Wheel (contractors' off-highway) units..

mil $Tractor shovel loaders (integral units only),

wheel and tracklaying types unitsmil $..

Tractors, wheel, farm, nonfarm (ex. garden andconstruction types), ship., qtrly units

mil. $..

ELECTRICAL EQUIPMENT

Batteries (auto.-type replacement), ship . . thous

Radio sets, production, total market thousTelevision sets (incl. combination models),

production, total market thous

Household major appliances (electrical), factoryshipments (domestic and export) # thous..

Air conditioners (room) doDishwashers do....Disposers (food waste) doMicrowave ovens/ranges * doRanges doRefrigerators doFreezers do....Washers doDryers (incl. gas) do

Vacuum cleaners (qtrly.) do....

GAS EQUIPMENT (RESIDENTIAL)

Furnaces, gravity and forced-air, shipments ....thous..Ranges total sales doWater heaters (storage), automatic, sales do....

7,053793.52,443222.2

241341030.3

807852,491.6

54214

31782

16405

26,68327612170278040712035436413404,01927287,536

1,15613683,041

1,6781581

95,9433,131.1

56105

36454

19680

32,38620023,09335276114275253161,2884,61632947,942

1,66215733,172

(!)

(l)

6626221.9

3509

2266

1282

2,508259214312398201362111352236

112127301

784693

8673314.5

3720

2636

1313

2,597300259249492252463112416282

101129259

727665284317

C)(»)

8489307.7

40322263821938

2,897265276298431248520136399264

1,799

108154265

556488

5412214.8

3914

3095

1517

2,672306196280461197505141322206

113104238

475339

5738142.8

5100

3315

1610

3,081108340316544269580128470317

146128248

797712515499

(*)0

13838391.6

63732321822303

2,97858

291322636250556113438309

2,214

176156239

717649

12994391.4

6548

4441

2050

3,04632

31136077126549485

412323

197136280

728742

9554295.3

6105

4249

1731

282052

30239364825441072

377313

167134253

742758664622

7524360.5

10,052312.1

62952351021925

2,53598

24526477221132177

292250

1,848

173149269

522441

r8295261.7

6499

3423

1679

3273168308340738260494103479366

146132319

r709T562

11 923'365.3

4273

2838

1632

302326224235558723742695

427331

142133315

583464

12,540406.1

39842342122 133

338750425836861526050989

420287

2,277

127154308

3370

3549

1668

3170'45925834861223748490

364250

116136337

1 659

PETROLEUM, COAL, AND PRODUCTSCOAL

Anthracite:Production t ' thous. sh. tons.Exports. .. doProducer Price Index 1967—100.

Bituminous:Production "f" thous sh tons

Consumption, total t doElectric power utilities do....Industrial total do

Coke plants (oven and beehive) do....

Residential and commercial do....

Stocks, end of period, total t do....Electric power utilities do....Industrial, total do....

Oven-coke plants do

Exports doProducer Price Index 1967—100..

COKE

Production:Beehive and oven (byproduct) thous. sh. tons-Petroleum coke § do....

Stocks, end of period:Oven-coke plants, total do....

At furnace plants doAt merchant plants do....

Petroleum coke do.

Exports do

PETROLEUM AND PRODUCTS

Crude petroleum:Oil wells completed number..Producer Price Index 1967=100..Gross input to crude oil distillation

units mil. bbl..Refinery operating ratio % of capacity..

All oils, supply, demand, and stocks:New supply, total 0 mil. bbl..

Production:Crude petroleum doNatural gas plant liquids do....

Imports:Crude and unfinished oils do....Refined products do....

Change in stocks, all oils (decrease, — ) do....

Product demand, total do....Exports:

Crude petroleum do....Refined products do

4,588980

640.3

833,523

703,561592,591104,37240,859

6,598

189,085175,05314,0324,625

105,244530.4

28,11529,908

8,1907,858

3311,344

1,109

40,300733.4

4,442.670

5,608.2

3,156.7585.1

1,352.4514.0

-53.7

5,880.4

86.3211.2

'4,113776

'617.1

'780,752

733,850624,175102,58637,005

7,090

162,070149,09112,9794,337

76,870'533.8

25,80830,615

3,5183,233

2861,096

731

37,159'681.4

4,348.372

5,570.0

3,159.4589.9

1,303.3517.5

23.2

5,812.0

59.9209.9

'28728

621.7

'61,267

'52,55543,497'8,4233,204

'635

187,208175,25111,9574,080

6,077534.3

2,284

1,324

99

3,031678.0

349.969

449.2

260.646.3

102.739.6

0.2

467.6

2.621.6

'29566

603.1

'62,944

'54,10745,586'8,1393,149

'382

190,767178,42212,3454,442

6,877532.0

2,611

1,390

72

3,186678.0

373.972

469.0

269.248.0

108.443.4

21.4

468.0

8.717.6

'35438

605.1

'62,231

'58,049'50,250'7,4982,732

'301

'190,738178,006'12,732

4,805

7,231530.8

6,4512,580

4,5694,220

3481,230

41

3,514677.9

378.275

464.4

260.347.6

114.841.7

12.1

481.6

4.318.9

31179

613.3

'55,029

'69,26660,301'8,4563,267

509

'174,857'162,267

12,5904,481

6,043531.3

2,649

963

72

2,683675.7

390.575

493.7

268.049.3

128.348.1

24.9

480.0

4.513.2

402115

610.4

'73,110

'72,736'63,675'8,5803,250

'481

'168,620'156,177

12,4434,156

8,251533.2

2,735

891

32

2,641675.1

382.074

505.1

268.249.7

138.249.0

33.2

496.9

5.315.2

387117

610.4

'70,437

'63,08554,127'8,3193,194

'639

'167,240'154,948'12,292'3,831

7,393534.6

6,7532,577

3,8753,577

298966

45

3,733675.7

373.776

492.3

260.049.7

136.546.1

24.8

482.4

5.315.2

'416139

610.4

'71,956

60,19850,5988,9293,304

671

172,589160,06812,5214,000

7,978534.9

2,610

1,110

49

2,970675.7

371.273

482.8

268.351.6

115.147.9

19.7

481.2

4.313.5

'41493

612.0

'69,833

61,15051,0999,3413,332

710

172,676'159,927

12,7494,168

5,726539.1

2,743

1,101

47

3,237675.6

368.575

464.3

258.750.6

108.646.5

-1.6

486.4

5.614.8

'36166

612.3

'61,896

70,23559,03010,2963,458

909

162,070149,09112,9794,337

6,194540.7

7,0252,677

3,5183,233

2861,096

119

3,470674.4

353.670

470.4

267.048.9

109.545.1

-57.2

537.2

2.916.9

3399

612.2

67,875

60,126

142,223

5,053'538.1

2,713

1,127

55

3,253'675.6

365.873

484.5

268.450.3

103.862.0

-23.1

536.3

4.713.1

3705

612.2

74,189

52,182

148,301

4,243540.2

2,598

1,265

23

3,212676.0

356.076

465.5

253.048.8

93.769.9

33.9

463.1

5.411.4

4093

611.3

80,993

54,465

152,378

5,809542.9

2,797

1,136

61

4,092676.0

374.775

483.6

270.350.7

114.847.8

-19.9

522.4

7.318.6

35855

610.0

71,152

7,633539.8

66

2,821674.3

611.1

""543.8

674.3




1982 1983

Annual

1983


1984


PETROLEUM, COAL, AND PRODUCTS—ContinuedPETROLEUM AND PRODUCTS— Continued

All oils, supply, demand, and stocks — ContinuedDomestic product demand, total # mil. bbl..

Gasoline doKerosene . . .. do....

Distillate fuel oil do....Residual fuel oil doJet fuel do....

Lubricants do....Asphalt doLiquefied gases . do

Stocks end of period total doCrude petroleum do

Strategic petroleum reserve doUnfinished oils, natural gasoline, etc . -... . do....Refined products do

Refined petroleum products:Gasoline (incl. aviation):

Production doStocks, end of period .... do .

Prices (excl. aviation):Producer Price Index, regular 2/73=100..Retail, reg. grade, U.S. city average (BLS): *

Leaded $ per gal..Unleaded do

Aviation gasoline:Production mil bblStocks, end of period do....

Kerosene:Production doStocks, end of period do....Producer Price Index (light

distillate) 1967 — 100..Distillate fuel oil:

Production mil. bbl..Imports doStocks, end of period doProducer Price Index (middle

distillate) 1967 = 100..Residual fuel oil:

Production mil. bbl..Imports . do .Stocks, end of period do....Producer Price Index 1967 = 100..

Jet fuel:Production mil. bbl..Stocks, end of period do....

Lubricants:Production doStocks, end of period . do

Asphalt:Production doStocks, end of period do

Liquefied gases (incl. ethane and ethylene):Production, total do....

At gas processing plants (L P G ) .... doAt refineries (L.R.G.) do....

Stocks (at plants and refineries) do

5,582.923961

470

974.962653696

51012445473

1429964362938158.16283

232211968

612.5

1.2221296

8923

42010.4

996.4

9513340

1786

1,012.7

390.4283 166.2

1,182.0

357.036.8

516125

1194159

557.5459098.5940

5 542.124248

464

979051223804

519213625377

1453 17223379 116105699

232031878

r551.7

1 1571 241

9123

4027.9

r906.1

8955616

1404r889.8

308.9251649.1

'1,058.9

372.3386

536121

213562188

584.84663118.51006

44341958

39

814409316

4278

370

137576836317716645257

18671853

515.3

1.1311215

0724

2783

9084

65122

1032

813.4

28.222346.6

1,015.7

29.4402

42127

107273

45.936297

860

441.82035

29

72.6406312

47128339

1397 1681 432681646551 1

19871893

537.2

1 1771259

0724

278.2

897.1

75844

1092

838.1

28.822050.9

987.7

31.2413

4512 1

123270

47.937910096 1

4584211 1

23

75839532 1

4617235 1

140936863332516545575

20031858

559.5

1 1971277

0925

2280

8943

76453

1138

879.4

24.920350.1

1,034.2

31.3413

4 4117

14925 1

47.8370108

106 1

46232110

26

69740532 1

44177398

14342682 7340716405876

20881942

566.6

12071288

0924

2585

8828

80680

1310

876.3

23.921251.9

1,052.4

31.9417

46116

15 1229

48.737611 1

1125

47632162

30

765422334

46203380

146747069351817015904

20381874

571.2

12031285

1 026

2683

8807

81093

1435

883.0

219219483

1,081.6

31.4402

47114

16 2192

46736 1106

1182

46192018

29

770397322

49177437

149217126361017016094

19841922

566.3

1 1891274

1025

359.2

8804

81776

1547

894.3

24.420749.7

1,102.1

32.8418

47110

15 117 1

48.7378109

1189

46342049

34

808380312

52144461

15119718 2367217186218

19271903

559.2

1 1721255

0824

43102

8893

83 179

1633

912.2

24.819651.4

1,120.0

31.2434

49106

133164

52.3417107

1207

466.01996

46

86.4407300

4 1105494

1510371283713166.26313

19981984

548.2

11561 241

072.4

3910.2

885.5

80457

1613

901.8

25.523354.5

1,125.5

32.3459

52115

99158

53.5432104

1184

517.42129

7.1

104.148736.5

3.843

63.3

1 453.172233791161.05699

19631878

535.8

1.1461231

052.3

4 17.9

881.4

78.266

1404

892.1

27.720049.1

1,109.6

29.1386

4512 1

74188

51.041892

1006

518.51947

6.5

108.261437.0

4.142

61.8

1 430.073293844159.95373

18771880

'518.3

1.1311216

062.4

567.5

r872.2

80.184

1195r871.4

29.532945.4

'1,091.0

32.535.6

43123

6421 1

49.94009.9

932

446.31815

3.2

82.446532.3

5.145

49.5

1 463.972753872159.25773

184 11993

513.6

1.1251209

092.6

449.3

884.9

831133

1322

923.6

29.132 157.6

1,093.1

32.7390

46117

70236

49.038910.1889

496.52023

3.9

100.950834.1

5.262

490

1,444.072753918164.75518

19822055

519.1

1.1251210

052.7

257.8

902.3

76936

1096

951.3

27.519647.6

1,116.1

34.2406

49112

78252

52.2405118886

521.7

1.1451227

874.1

874.1

1,110.3

533.9

8761

881.2

1,142.9

PULP, PAPER, AND PAPER PRODUCTSPULPWOOD f

Receipts thous cords (128 cu ft )Consumption do....Inventories, end of period do

WASTE PAPER f

Consumption thous sh tonsInventories end of period do

WOODPULP f

Production:Total thous. sh. tons-

Dissolving pulp do....Paper grades chemical pulp do....Groundwood and thermo-mechanical do....Semi-chemical do

Inventories, end of period:At pulp mills:

Own use woodpulp do....Market pulp . do

Market pulp at paper and board mills do....

Exports, all grades, total . . . do....Dissolving and special alpha do....All other . ... do. .

Imports, all grades, total do....Dissolving and special alpha do....All other do....

*78 519^9,039

5426

113 5651022

M9,3341,092

39,4785,0643699

177437429

'3395631

'2763X3894

16213,732

X84 475'85,442

5229

*14 539920

rl52 5371,261

'42,3585,0673851

'170'384522

'3674646

X3027

M093179

13,914

67707,1624779

1 164828

4,30895

3,505393314

198429518

34678

267

30111

289

694370254677

1221812

4517133

3,624432329

208434528

31240

272

37823

355

7 1547 1884763

1205856

4405123

3,533413335

201425515

32450

274

35712

345

6 8216*8014952

1 128854

4 15672

3,374401309

209452499

28931

258

32720

307

7 44573955 177

1 205853

448399

3,624432328

212468492

28960

229

3509

341

7 28672035051

1 202876

442291

3,586427318

193420466

32830

298

33211

321

7 69175345430

1 337864

4685113

3,777449347

186449476

31477

238

43115

416

7 17272675266

1 275864

4597117

3704443334

192484499

25261

191

3627

355

669167415229

1 157920

4 124106

3,297419303

'170'384522

38472

312

34520

325

7 04471855 168

1 292908

451398

3,601463352

151394564

36052

208

33714

323

743472955 192

1 276896

'4539106

'3,651454

'328

'142351

'546

31738

279

42011

409

7 6897*6605 157

1 389896

4858106

3921466365

154323604

37474

300

34119

322

24953

196

3386

331See footnotes at end of tables.



1982 1983

Annual

1983


1984


PULP, PAPER, AND PAPER PRODUCTS—ContinuedPAPER AND PAPER PRODUCTS f

Paper and board:Production (API):

Total thous. sh. tons.Paper . do...,Paperboard do...

Producer price indexes:Paperboard 1967 = 100..Building paper and board do....

Selected types of paper (API):Groundwood paper, uncoated:

Orders, new thous. sh. tons..Orders, unfilled, end of period do....Shipments do....

Coated paper:Orders, new do..,Orders, unfilled, end of period do...Shipments do...

Uncoated free sheet papers:Orders, new do...Shipments do...

Unbleached kraft packaging and industrialconverting papers:

Shipments thous. sh. tons.

Tissue paper, production do...

Newsprint:Canada:

Production thous. metric tons.Shipments from mills do...Stocks at mills, end of period do....

United States:Production do...Shipments from mills do....Stocks at mills, end of period do.

Consumption by publishers 0 do...Stocks at and in transit to publishers, end of

period thous. metric tons.

Imports thous. sh. tons.Price, rolls, contract, f.o.b. mill, freight allowed

or delivered Index, 1967=100.

Paper products:Shipping containers, corrugated and solid fiber

shipments mil. sq. ft. surf. area.

'59,48830,42229,065

254.9239.5

11,46991

'1,459

'4,998325

5,032

'7,820rl8,170

'3,688

'4,438

8,1098,054

256

4,5744,525

86

10,107

854

6,531

315.8

"65,113r32,936r32,177

250.1250.0

rl 1,581159

111,530

r'5,896'546

r5,696

r'9,066"9,085

'3,792

'4,790

8,4868,439

303

4,6884,675

99

10,579

790

6,919

302.9

5,2742,6092,609

248.1247.0

122101127

332447

743759

291

397

710374

364362161

879

780

538

299.1

5,5542,7862,786

248.7249.3

12694

129

509398468

751762

304

410

724683415

404156

919

746

599

299.1

5,3812,7222,658

249.6249.4

13199

128

543457481

744762

312

392

719796

372395133

858

659

299.1

5,1172,5532,563

249.7256.2

135114118

524453

755676

287

385

699679359

378395116

816

826

538

295.0

5,6752,9302,745

250.1252.1

163145129

556528536

782786

349

419

726696388

419418117

847

849

584

305.8

5,5012,7642,737

254.0252.8

131153132

451492485

720748

327

707738358

377378116

885

812

543

310.4

235,185 252,876 '20,491 20,777 22,044 19,582 22,649 22,317 23,476 21,043 19,874 22,070 21,983 23,650 21,960

5,8322,9352,897

255.5254.7

152164142

523496535

741794

414

750764344

406407116

1,001

785

634

309.6

5,6422,8632,778

259.4254.7

124153137

463447513

757773

329

408

774766352

414412117

750

633

309.6

5,1692,7062,463

260.9250.4

122156121

545551496

735750

301

390

673723303

372390

954

790

593

309.6

r5,680r2,886'2,795

262.2251.9

'143'157'135

'496'520'508

'739'805

322

407

757699361

417415103

847

785

663

309.6

'5,661'2,852'2,810

269.3253.9

'149'179'129

'527'540'512

'725'788

322

395

622646337

410412102

'880

808

621

309.6

'6,082'3,053'3,029

273.6258.9

'140'182'140

'549'555'531

'819'845

352

426

666674329

43445482

'946

'778

591

316.0

5,7632,8752,888

275.4264.1

133193127

510564507

687773

334

405

737701365

42243965

977

766

573

316.0

276.9265.2

314.8

RUBBER AND RUBBER PRODUCTSRUBBER

Natural rubber:Consumption • thous metric tonsStocks end of period ... do

Imports incl. latex and guayule. thous Ig tons

Price, wholesale, smoked sheets (NY) $ per Ib

Synthetic rubber:Production thous metric tonsConsumption .... do

Stocks, end of period do.

Exports (Bu. of Census) thous. Ig. tons

TIRES AND TUBES

Pneumatic casings, automotive:Production thous

Shipments, total doOriginal equipment doReplacement equipment do. .Exports do

Stocks, end of period do.

Exports (Bu. of Census). do....

Inner tubes, automotive:Exports (Bu. of Census) do....

660619542

61827

0.453

1 828 951 757 30

255.94

284.62

'178 500

201,23638633

158,6883915

39,955

5,971

1,924

676 278075

6420720560

1 978 281 860 79

283.80

275.01

186 923

218 86549364

164,2655236

33,340

4,656

1,829

55319377

6211

0578

1604614632

283.84

24.91

16325

177824 143

13,185454

51921

392

134

568610001

6344

0568

171 1314622

29434

3166

15653

189074286

14202419

42395

436

138

67049786

6520

0545

1645015668

29082

2437

15473

204314461

15586384

39622

306

193

48799918

5041

0583

1546413585

304.77

20.15

12570

178793240

14,354285

36,989

270

100

39229069

3190

0593

1505017452

276.24

21.08

16440

201173931

15,686500

35541

360

147

50218329

4422

0605

163 1617439

262.34

22.01

16360

212465003

15,717526

32854

447

169

75297483

6783

0605

1779618453

25612

20 14

16734

205324870

15153509

31530

391

240

69677587

7106

0583

1937316214

28272

2375

15 136

175274625

12458444

31676

485

126

49579075

5471

1632915021

283.79

23.67

15483

160774608

10890579

33340

484

177

737695 19

8784

0573

1832917754

284.08

24.12

16749

185094755

13 118636

35450

458

97

56789568

5782

0583

1730217536

27718

2222

17498

179715 109

12253609

37615

427

137

83188747

7545

0580

1902618045

27695

2809

19 121

216405728

15191721

38529

544

187

69 18

0568

2913

539

85

0518




1982 1983

Annual

1983


1984


STONE, CLAY, AND GLASS PRODUCTSPORTLAND CEMENT

Shipments, finished cement thous. bbl.

CLAY CONSTRUCTION PRODUCTS

Shipments:Brick, unglazed (common and face)

mil. standard brick

Structural tile, except facing thous sh tonsSewer pipe and fittings vitrified doFloor and wall tile and accessories, glazed and

unglazed mi. sq. ft..

Producer Price Index, Brick (common), f.o.b.plant or N.Y. dock 1967=100..

GLASS AND GLASS PRODUCTS

Flat glass, mfrs.' shipments thous. $..

Glass containers: tProduction thous gross

Shipments, domestic, total $ doNarrow-neck containers:

Food doBeverage do....Beer doLiquor and wine do

Wide-mouth containers:Food and dairy products do

Narrow-neck and wide-mouth containers:Medicinal and toilet do....Chemical household and industrial do

Stocks, end of period do .

GYPSUM AND PRODUCTS

Production:Crude gypsum (exc. byproduct) thous. sh. tons..Calcined do....

Imports, crude gypsum do...

Sales of gypsum products:Uncalcined . do

Calcined:Industrial plasters do....Building plasters, total

(incl. Keene's cement) @ do

Board products, total mil. sq. ftLath do

Veneer base doGypsum sheathing do

Regular gypsum board doType X gypsum board do

Predecorated wallboard do....5/16 mobile home board do....

1343,463

4,408.6

40.93250

294.8

312.5

871,331

309,376

307,113

27,65861,020

107 86122,265

63372

22,3222615

45,634

1 10,538111,243

6,718

M528

'430J264

13,09339

286264

8,4473486

119453

1376,287

57916

30.13751

333.6

'337.8

'955,267

288 616

287 844

2737459,8959775522,947

60108

17,9771788

43,307

12,94813,710

8,031

4064

M42

257

16,81836

368344

10,8074283

119861

28383

4518

34297

27.9

337.7

25659

24456

22414,87290761754

4451

1,894168

51269

1,0531,131

636

235

36

21

13123

2830

844322

1076

33,569

529.1

1.4306

31.4

339.3

25513

26183

24965,71196121912

4829

1,469154

50,604

1,0331,087

698

268

35

21

1,3193

2929

8613171169

39,415

6154

26367

29.9

340.1

238,331

24804

26737

24676,33193702005

5037

1354173

49467

1,1411,167

694

464

36

22

14494

3532

934356

1277

37266

5467

23398

27.1

341.9

24212

25615

2008588094022069

5010

1 115131

48104

1,0171 128

784

338

30

21

14223

3129

903366

980

41,931

6079

2.8437

30.5

341.9

27139

28422

32156,34791641980

6170

1,393153

45,893

1,2181,276

682

377

35

24

15933

3731

1014414

1083

39,537

5834

36400

27.3

341.9

'238,501

23805

24909

29955,38975752011

5527

1280132

44080

1,3001262

872

432

35

23

14713

3331

933381

1080

39053

5457

33386

29.2

344.0

25539

23083

191645137 1652281

5642

1441125

44583

1,2211278

471

40

22

15482

3130

981402

1090

32,771

4942

2.1298

27.0

345.3

21 130

20288

16584,23062561870

4861

1,294119

45091

1,1611,213

741

339

40

20

14933

3229

970385

965

22202

3754

2.1209

25.6

345.5

'249,777

16665

18483

15023,84357781667

4232

1,350111

43307

1,1171 161

561

383

364 19

15424

3425

1000'408

1062

20356

3200

10232

24.8

'345.8

21 126

21 109

2092396668871838

4943

1240143

44855

1,1461263

705

268

36

20

14942

3428

945407

1066

25,638

346.7

23443

21228

22214,50064391790

4782

1,340156

46514

1,1591212

703

266

40

20

15243

3728

970398

1275

29,202

347.9

232 526

1,3621289

721

321

47

22

16934

3928

1070456

1283

349.4 350.7

TEXTILE PRODUCTSFABRIC

Woven fabric, finishing plants:Production (finished fabric) mil. linear yd..

Cotton doManmade fiber and silk fabrics do....

Inventories held at end of period do....Cotton doManmade fiber and silk fabrics do....

Backlog of finishing orders doCotton do....Manmade fiber and silk fabrics . . do

COTTON and MANUFACTURES

Cotton (excluding linters):Production:

Ginnings 0 thous. running bales..Crop estimate thous. net weight bales §..

Consumption thous. running bales..Stocks 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....

6,6602,4664,194

637257380

211,52611,963

4,938

14,232142292,433

11,101695

7,1902,6544,537

598231367

7,500

5,553

10,686106851,1598,924

602

562215348

603241362

592225367

431

10,35810356

7678,796

793

561210351

619248371

618226392

441

9,4559454

7487,930

776

371632683448

607233374

575199376

3543

8,4498447

2737,419

755

421147274

511^45381

592200392

2

369

7,5617560

1506,656

754

592209383

630252378

541221320

315

453

14,047140467,0676,268

711

370232643438

632263368

544234310

770

3560

13,11613 1156,6635,814

638

603215388

647267380

537229309

3348

459

12,515125144,7677,192

555

591207384

655260395

512226286

6007

446

11,725117242,5068,665

553

364332263416

597230367

489223267

7214

3468

10,686106851,1598,924

602

550209341

621257364540228312

469

9,51295111,2227,643

646

448

8,34783461,2756,359

712

3548

6,90369031,1664,997

740

423

5,6985697

9623,960

775See footnotes at end of tables.



1982 1983

Annual

1983


1984


TEXTILE PRODUCTS—ContinuedCOTTON AND MANUFACTURES— Cont.

Cotton (excluding linters)— ContinuedExports thous running bfllwImports thous net-weight bales §Price (farm), American upland 0 cents per lb..Price, Strict Low Middling, Grade 41, staple 34

(1-1/16"), average 10 markets cents per lb..

Spindle activity (cotton system spindles):Active spindles, last working day, total mil..

Consuming 100 percent cotton do..Spindle hours operated all fibers total bil

Average per working day do.Consuming 100 percent cotton do....

Cotton cloth:Cotton broadwoven goods over 12" in width:

Production (qtrly ) mil sq ydOrders, unfilled, end of period, compared with

avg weekly production no weeks' prodInventories, end of period, compared with

avg weekly production no weeks' prodRatio of stocks to unfilled orders (at cotton

mills) end of periodExports, raw cotton equiv. thous.

net-weight 480 lb balesImports, raw cotton equivalent do.

Producer Price Index, gray cottonbroadwovens * 12/75=100..

MANMADE FIBERS AND MANUFACTURES

Fiber production, qtrly:Acetate filament yarn mil. lb..Rayon staple, including tow doNoncellulosic, except textile glass:

Yarn and monofilaments ,,,,-. .,.,,,,, .,,,,,,,, doStaple, incl. tow do....

Textile glass fiber do

Fiber stocks, producers', end of period:Acetate filament yarn mil. lb..Rayon staple including tow doNoncellulosic fiber, except textile glass:

Yarn and monofilaments .. doStaple, incl. tow do. .

Textile glass fiber do

Manmade fiber and silk broadwoven fabrics:Production (qtrly.), total # mil, sq. yd..

Filament yarn (100%) fabrics # . *doChiefly rayon and/or acetate fabrics ........ do....Chiefly nylon fabrics . . do

Spun yarn (100%) fabrics # do....Rayon and/or acetate fabrics, blends .. doPolyester blends with cotton do....

Acetate filament and spun yarn fabrics . do

Producer Price Index, gray syntheticbroadwovens * 12/75=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 prods., apparel, furnishings., do

Apparel total doKnit apparel doWOOL AND MANUFACTURES

Wool consumption, mill (clean basis):Apparel class . .. . mil lbCarpet class do

Wool imports, clean yield doDuty-free " do

Wool prices, raw, shorn, clean basis, delivered toU.S. mills:

Domestic— Graded territory, 64's, staple 2-3/4"and up cents per lb

Australian, 64's, Type 62, duty-paid do....Wool broadwoven goods, exc. felts:

Production (qtrly ) mil sq yd

FLOOR COVERINGS

Carpet, rugs, carpeting (woven, tufted, other),shipments, quarterly mil. sq. yds

APPAREL

Women's, misses', juniors' apparel cuttings:Coats thous. unitsDresses doSuits (incl pant suits jumpsuits) ... doSkirts do....Blouses thous. dozen..

6079' 3957.6

360.5

14.253

8160320

30.2

3779

11 1

71

065

23926013

152.6

195.23550

304033,402.5

8992

10.7259

2798324.81410

8 585.52951 1

346.63975

4,726.71137

3,547.88930

143.7

43855200.59132.5723796

80710132.589334

674.514853119309

105998

61.4214

72.472.99

121 1

906.5

42 6171166 747*12 138

1 104,430X27.845

56498

63.9

63.1

13.953

903034333.7

4163

118

47

040

18887931

152.1

227.63748

356053,970.61 1660

12.5233

275134201252

10,089.136010

255.13253

5,295.01139

3,998.410317

147.0

46071167.191086629352

1 069 49182.5012321886.995743924130

1324119791287

52122.66

1390

10849

10595151 386

9327100,38531.795

612(6)60.4

65.3

14.05368

03422.5

100

48

044

172546

151.7

145.5

43.4515.6110.842784

732014.99107758.2238631533

106096.719

1.932.66

64415343

6157,9442.540

464(6)63.6

66.9

14.2537 1

03542.5

108

43

040

142617

152.2

146.1

403914.45907

2595

869916.491106705047652173

99104921

1932.62

98114124

8188,1972.833

831(6)62.6

70.7

14.25386

034443.1

1042

117

43

037

159589

151.0

62.2921

92401 015.5

2731

12.2289

25952780101 1

25139885460.6876

1 331.1288

1 018.92562

146.3

398014.15907

2566

1055518.611305867458882745

41374127529

1982.62

400

2722

115312877

8568,6273.045

4091

67.1

70.3

13.85259

02952.2

148

51

034

127645

151.5

146.5

350012.50771

2250

981416.811131813355162544

87086524

2192.60

1,03310357

9327,8922.433

3832

67.0

72.9

14.15278

03723.0

126

42

033

140666

151.7

147.4

362113.06838

2316

1082515.981153922765732760

1051 15823

2232.62

134411471

8199,7762.790

3221

63.1

71.7

14.25388

035243.4

1029

124

38

031

154779

152.8

613921

90331,032 8

3132

14.1213

270430081027

251628775660726

13535283

102302455

147.7

395014.39941

2511

983415.621075827254392428

41284145119

2252.63

282

2847

1,29911532

7869,0162.777

2611

64.0

72.0

14.95377

03843.0

126

38

030

160714

156.0

149.3

369714.72931

2226

1068417411103894356242422

112098533

2252.71

1 11811393

82586712.997

4411

66.8

73.4

14.15.374

03692.9

127

42

033

153809

156.7

151.5

364413.44877

2300

858314.69955

71 1542751619

112078025

2252.70

95610830

7707,9372.599

632(«)67.3

73.0

13.95.376

030543.0

1046

138

48

034

148774

156.7

53.8980

93211,035.6

3346

12.5233

2751342.01252

2,714.310350

67.7797

1,361.5303

1,014.22724

151.0

352412.49776

2274

77931336907

645834181105

41244098938

2282.66

366

2939

4749169

70673242.353

6631

62.7

70.6

13.85.274

'0.3712.8

104

46

044

14299.2

157.3

148.8

35.0812.747.93

2234

1003418.91125081.4351311764

11008

11227

2302.68

36612640

8557,8282.839

7191

65.7

71.4

14.05.280

04002.9

112

45

040

123965

159.2

150.9

370513.19796

2386

1188612271151

1005963142239

127089018

2302.76

41915 106

96483642.946

896(«)70.5

74.9

13.65.191

'0.36443.2

1311021

158.1

151.8

402115.86883

2435

1102119341253908753161863

413941 07827

2302.79

47315346105283783.084

723(«)'68.1

75.6

13.75.170

r0.3522.5

'

158.1

152.4

7828

245r2.76

74.5

79.4

157.3

153.6

2342.71




1982 1983

Annual

1983

Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb.

1984

Mar. Apr. May

TEXTILE PRODUCTS—ContinuedAPPAREL— Continued

Men's apparel cuttings:Suits thous unitsCoats (separate) dress and sport doTrousers (separate), dress . . . . doSlacks (jean cut) casual doShirts dress and sport .. . . thous doz

Hosiery shipments thous doz pairs

411 735416 477

4111 7494 172 299

492 423288 704

1076817139

109 014202 93039506

308 079

77914329261

16 2883179

26424

84514968*656

173503404

26395

8391672

10 188223193562

26 070

57013907060

174482455

29 966

85815839986

181283298

26 144

95114699141

198793467

25317

1,09815109675

169963356

25829

1,1001429

10 174195773531

25278

8791 1767365

102653158

24905

1,07614399,724

14 1073560

24 191

1,0391559

11,719152073705

25847

1,1391633

10,352154003,843

28867 24649

TRANSPORTATION EQUIPMENTAEROSPACE VEHICLES

Orders, new (net) qtrly total mil $U.S. Government do....

Prime contract doSales (net) receipts or billings Qtrly total do

U S. Government . do

Backlog of orders, end of period # doU S Government do

Aircraft (complete) and parts . . . doEngines (aircraft) and parts doMissiles, space vehicle systems, engines, propul-

sion units and parts mil $Other related operations (conversions, modifica-

tions), products, services mil. $..

Aircraft (complete);Shipments t do

Airframe weight 1" thous IbExports commercial mil $

MOTOR VEHICLES (NEW)

Passenger cars:Factory sales (from U S plants) total tt thous

Domestic tt do....

Retail sales, total, not seasonally adj do....Domestics § doImports § do....

Total seas adjusted at annual rate milDomestics § do..Imports § do

Retail inventories, end of period, domestics: §Not seasonally adjusted thous..Seasonally adjusted .. . do

Inventory-retail sales ratio, domestics § ..

Exports (BuCensus), total do....To Canada do

Imports (BuCensus), complete units do....From Canada, total do

Registrations 0, total new vehicles do.Imports incl domestically sponsored do

Trucks and buses:Factory sales (from U.S. plants), total @ do..

Domestic @ . do

Retail sales, not seasonally adjusted: *Light-duty, up to 14,000 Ibs. GVW do....Medium-duty, 14,001-26,000 Ibs. GVW do....Heavy-duty, 26,001 Ibs. and over GVW do....

Retail sales, seasonally adjusted:Light-duty, up to 14,000 Ibs. GVW .. . d oMedium-duty 14 001-26 000 Ibs GVW doHeavy-duty, 26,001 Ibs. and over GVW do ...

Retail inventories, end of period:Not seasonally adjusted * do....Seasonally adjusted do

Exports (BuCensus) doImports (BuCensus), including separate chassis

and bodies thous

Registrations 0, new vehicles, excluding buses notproduced on truck chassis thous

Truck trailers and chassis, complete (excludesdetachables), shipments t number..

Vans t doTrailer bodies (detachable), sold separately t •— do....Trailer chassis (detachable), sold separately t-— do....

RAILROAD EQUIPMENT

Freight cars (new), for domestic use; all railroadsand private car lines (excludes rebuilt cars andcars for export):

Shipments number..Equipment manufacturers do....

New orders doEquipment manufacturers do....

Unfilled orders, end of period do....Equipment manufacturers do....

Freight cars (revenue), class 1 railroads (AAR): $Number owned, end of period thous..

Held for repairs, % of total ownedCapacity (carrying), total, end of mo mil. tons-

Average per car tons..

8658755715842907548742239

105 810600674644611958

13432

13330

86398443834775

50494696

7,98057582221

1 1261 127

23

374.30334053,067.0

7025

77542269

19061779

2,063.845.7

138.3

539.55455

12443

73848

2430

96,190648923,9882,918

1 17,2361 15,5 15'7071'6,3214,2954,095

1,03987

84.8781.68

r!0 193 4r47 397

5569

67396201

9,17967932386

13521390

25

551.16523993,691.0

8368

8924*2457

24142260

2,520.747.7

141.0

583.75914

13186

84689

2977

121,711864442,2154,531

X5,772^,570*5964^96232713,271

1,007100

82.9682.37

1 10795 194

457

529475

762578184856421

1 1911201

23

54.455221277.2779

728208

191179

207.33.8

11.4

2028389.9

545.953681283

6948

244

6,9794808

6147

205205615614

43264,323

1,02895

84.4482.18

79103854

397

587528

8376302079 16.922

1 1911 154

2.0

60.8158 14355.8885

773215

212198

222.84.19.7

201.3409.9

551.354051187

78 19

254

87085958' 69147

376376797797

47474,744

1,026100

84.1882.03

2444215120238632082611681

117 570736365329012824

14 527

15092

1 19135723

924

644592

9046682361017.526

12091082

17

51.925030325.5858

869244

230214

247.94.4

11.4

206938

10.5

551.452561333

8099

275

9,6746714

31620

338338150150

45594,556

1,024100

84.0182.05

42991998

368

461426

792577215977225

1 1021050

17

34.263275288.3560

789228

161150

204.25.0

11.8

22344 1

11.2

498.450751062

63 13

259

8,3875202

57456

260260934934

38973,894

1,02010 1

83.7782.10

48482 338

178

492466

741531210896623

10881 166

2 1

31.873063263.5443

773246

192181

185.14.8

12.0

192839

119

5091552811 34

6870

254

11,5138632

299414

469469287287

37553,752

1,019100

83.6882.09

5 16 78859101

516 419520 5685 13 105

5 113 790569 632550 4395 12 5525 13 4505 15 043

78513490

232

627581

705538166927021

1 1921231

21

46.274192271.6496

735207

226214

224.14.4

12.2

241240

121

5328562010 11

61 17

249

128989683

271300

460458416416

37563,756

1,01898

83.6682.17

43221751

193

678623

861664197987028

12201257

22

57.225464342.3670

757190

241225

221.83.8

13.4

240 139

135

571457031267

8206

265

127759521

171578

736736642642

33683,368

1015100

83.4382.24

82773797

307

636587

782590191956926

13031306

23

48.164564346.7713

701176

233218

223.53.0

11.6

248040

151

603 1598310 29

7453

253

13 1829739

180921

615615351351

3 1563,156

101198

832082.29

rl 231 9r4861

'679

581541

7525591921057.827

13521390

2 1

38.1436 18369.3984

910239

207192

244.53.9

15.1

26884 4

162

583759141054

9407

332

1473611 168

629961

745745805805

32713,271

1007100

829682.37

286.21471

140

647608

7785831951128.428

1,4711498

2.2

40.713885396.1835

747195

246231

226.73.7

12.132566

346312.6

649.5362941052

8041

282

r!9 731r!5 421

881638

415415

2736273655535,553

1,006100

82.9682.43

580.82814

378

682632

8416551861068.521

1,5321565

2.2

53.695064340.6943

782194

252235

256.24.3

14.2

245553

154

672866431520

7272

302

1734112597

981398

528528

1 523152365486,548

1,001100

82.6082.52

61992559

322

772702

9647562081007.921

1,5721606

24

70.886857464.0875

835199

283264

313.74.7

17.1

258345

148

686467671576

8578

329

1959414109

471874

894894

1 213121369286,928

QQfS

104822282.56

310

89672117410 18120

rl,5351560

23

65.396337365.81094

289.44.8

18.8

27895 0

164

6846673614 95

111 41

722722672672

67426,742

992106

(2)

1,04780324411 18.625

1,4601428

20

(2)

325.04.8

20.4

275 14 5

198

679 56670



FOOTNOTES FOR PAGES S-l THROUGH S-32General Notes for all Pages:

r Revised,p Preliminary,e Estimated,c Corrected.

Page S-l$ 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.

Page S-21 . Based on data not seasonally adjusted.# Includes data not shown separately.$ See note "$" for p. S-8.t See note "t" for p. S-8.tt See note "tt" for p. S-3.@ Revised series. For manufacturing see note "tt" for p. S-3. For retail see note "$" for

p. S-8. For wholesale see note "t" for p. S-8.

Page S-3# Includes data for items not shown separately.$ See note "$" for p. S-8.t See note "t" for p. S-8.tt Effective May 1984 SURVEY, data have been revised for Jan. 1977-Dec. 1983. A

detailed description of this revision and data appear in the report "Manufacturers' Ship-ments, Inventories, and Orders" M3-1.13 (1977-1983), copies of this report can be pur-chased from the Superintendent of Documents, U.S. Government Printing Office, Washington,DC 20402. A computer tape of the report, including data back to 1958 can be purchasedfrom the Data User Services Division, Customer Services Branch, Bureau of the Census,Washington, DC 20233.

@ See note "@" for p. S-2.

Page S-41 . Based on data not seasonally adjusted.# Includes data for items not shown separately.$ Includes textile mill products, leather and products, paper and allied products, and

printing and publishing industries; unfilled orders for other nondurable goods industriesare zero.

t See note "tt" for p. S-3.0 For these industries (food and kindred products, tobacco, apparel and other textile

products, petroleum and coal, chemicals and allied products, and rubber and plastics prod-ucts) sales are considered equal to new orders.

Page S-51 . Based on unadjusted data.2. Series will resume when Dun & Bradstreet has completed revising data processing

procedures.@ Compiled by Dun & Bradstreet, Inc.# Includes data for items not shown separately.§ Ratio of prices received to prices paid (parity index).$ See note "$" for p. S-4.t Effective with the Feb. 1984 SURVEY, data have been revised (back to 1981 for some

commodities) and are available upon request.O Beginning with data for January 1983, the index is affected by a change in methodol-

ogy used to compute the homeownership component. For additional information regardingthis change, see p. S-36 of the Feb. 1983 SURVEY.

# New series.See note "tt" for p. S-3.

Page S-6§ For actual producer prices or price indexes of individual commodities, see respective

commodities in the Industry section beginning p. S-l9. All indexes subject to revision fourmonths after original publication.

# Includes data for items not shown separately.# New series. This index (first shown in the Feb. 1984 SURVEY) reflects costs associated

with homeowners' consumption of shelter service. This new index combines the subindexesof owners' equivalent rent and household insurance. Indexes prior to Dec. 1982 are notavailable. For additional information, see p. S-36 of the Feb. 1983 SURVEY.

$ Effective with the Feb. 1984 SURVEY, data have been revised back to 1979 to reflectupdated seasonal factors and are available upon request.

t Effective with the Feb. 1984 SURVEY, data back to 1979 have been revised and areavailable upon request.

O See note "<>" for p. S-5.

Page S-71. Computed from cumulative valuation total.2. Index as of June 1, 1984: building, 357.8; construction, 387.3.# Includes data for items not shown separately.§ Data for Mar., June, Sept., and Dec. 1983, and Mar. 1984 are for five weeks; other

months four weeks.

t Data for seasonally adjusted housing starts have been revised from 1981-83, and areavailable upon request.

$ Data for seasonally adjusted building permits have been revised from Jan. 1982-Mar.1984, and are available upon request.

@ Unadjusted data for manufacturers' shipments of mobile homes for January 1982through November 1983 and seasonally adjusted data for January 1981 through November1983 have been revised and are available upon request.

Page S-81. Advance Estimate.2. Direct endorsement cases are included beginning with June data.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.t Effective April 1984 SURVEY, wholesale trade data have been revised for Jan. 1978-Dec.

1983. A detailed description and the revised series appear in the report "Revised MonthlyWholesale Trade" BW-13-83s, available from the Bureau of the Census, Washington, DC20233; $2.50 per copy.

$ Effective April 1984 SURVEY, retail trade data have been revised for Jan. 1978-Dec.1983. Revised data and a summary of changes appear in the report "Revised Monthly RetailSales and Inventories" BR-13-83s, available from the Bureau of the Census, Washington,DC 20233; $2.75 per copy.

* New series. Annual data for earlier periods are available upon request. Monthly datafor earlier periods will be available later.

Page S-91. Advance estimate.* Includes data for items not shown separately.O Effective with the January 1984 SURVEY, the seasonally adjusted labor force series

have been revised back to January 1979. Revised monthly series appear in the February1984 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.

t See note "$" for p. S-8.* New series.@ Data include resident armed forces.

Page S-10§ These unemployment rates are for civilian workers only. The unemployment rate for

all workers, including the resident armed forces, was 7.4 in May 1984.O See note "O" for p. S-9.* New series.t Effective June 1984 SURVEY, data have been revised back to April 1982 (not season-

ally adjusted) and January 1979 (seasonally adjusted) based on the March 1983 bench-mark, an improved method for estimating the employment effect of new firms entering theeconomy, and revised seasonal factors. The June 1984 issue of "Employment and Earn-ings" will contain a detailed discussion of the effects of the revisions.

Page S-l 1$ 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.* New series.t See note "t" 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.

O Production and nonsupervisory workers.$ Earnings in 1977 dollars reflect changes in purchasing power since 1977 by dividing by

Consumer Price Index.§ Wages as of June 1, 1984: Common, $15.76; Skilled, $20.60.* New series.@ New series. The Employment Cost Index (ECI) is a quarterly measure of the average

change in the cost of employing labor.t Excludes farm, household, and Federal workers.tt See note "f'for p. S-10.


Page S-131. Average for Dec.2. Reported annual; monthly revisions are not available.3. Effective December 1, 1982, there was a break in the commercial paper series because

of changes in reporting panels, modifications to reporting instructions and corrections tomisreported bank data.

$ Effective January 1984, series revised due to changes in the reporting panel and in theitem contents. The new panel includes 168 banks that had domestic office assets exceeding$1.4 billion as of December 31, 1982.

# Includes data for items not shown separately.$$ Reflects offsetting changes in classification of deposits of thrift institutions. Depos-

its of thrifts were formerly grouped with deposits of individuals, partnerships, and corpora-tions, instead of with deposits of commercial banks in the United States.

* "Transaction balances other than demand deposits" consists of ATS, NOW, superNOW, and telephone transfer accounts, which formerly were classified with savings depos-its. "Nontransaction balances" reflects the combination of deposits formerly reported sep-arately as time deposits and the savings deposits remaining after deduction of the items nowreported separately under "transaction balances."

§ Excludes loans and federal funds transactions with domestic commercial banks andincludes valuation reserves (individual loan items are shown gross; i.e., before deduction ofvaluation reserves).

O Securities of Federal agencies and corporations have been shifted out of "other secu-rities" and are now combined with U.S. Treasury securities. Also, loan obligations of Statesand political subdivisions have been shifted out of "other securities" and are now shownseparately among the loan items.

@ Insured unemployment (all programs) data include claims filed under extended durationprovisions of regular State laws; amounts paid under these programs are excluded fromstate benefits paid data.

@@ Insured unemployment as a percent of average covered employment in a 12-monthperiod.

Page S-141. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the

months.2. Average for the year.3. Daily average.4. Interest rate charged as of June 1, 1984 was 11.16.t Effective April 1984 SURVEY, the consumer installment credit series have been revised

back to July 1980 to reflect more complete benchmark data for some of the components.# Includes data for items not shown separately.O Adjusted to exclude domestic commercial interbank loans and federal funds sold to

domestic commercial banks.$ Rates on the commercial paper placed for firms whose bond rating is Aa or the equiva-

lent.$$ Courtesy of Metals Week.@@ Average effective rate* New series.

Page S-151. Beginning 1983, the reporting frequency has been changed from a monthly to a quar-

terly basis.2. This series has been discontinued.t Effective Feb. 1984 SURVEY, the money stock measures and components have been

revised back to 1959 and are available from the Banking Section of the Division of Researchand Statistics at the Federal Reserve Board, Washington, D.C. 20551

$ Composition of the money stock measures is as follows:ML—This measure is currency plus demand deposits at commercial banks and interest-earning checkable deposits at all depository institutions—namely NOW accounts, auto-matic transfer from savings (ATS) accounts, and credit union share draft balances—as wellas a small amount of demand deposits at thrift institutions that cannot, using present datasources, be separated from interest-earning checkable deposits.M2.—This measure adds to Ml overnight repurchase agreements (RP's) issued by com-mercial banks and certain overnight Eurodollars (those issued by Caribbean branches ofmember banks) held by U.S. nonbank residents, money market mutual fund shares, andsavings and small-denomination time deposits (those issued in denominations of less than$100,000) at all depository institutions. Depository institutions are commercial banks (includ-ing U.S. agencies and branches of foreign banks, Edge Act corporations, and foreign investmentcompanies), mutual savings banks, savings and loan associations, and credit unions.M3.—This measure equals M2 plus large-denomination time deposits (those issued in denomi-nations of $100,000 or more) at all depository institutions (including negotiable CD's) plusterm RP's issued by commercial banks and savings and loan associations.L.—This broad measure of liquid assets equals M3 plus other liquid assets consisting ofother Eurodollar holdings of U.S. nonbank residents, bankers acceptances, commercialpaper, savings bonds, and marketable liquid Treasury obligations.

$$ 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 to thenonbank public, and overnight Eurodollars are those issued by Caribbean branches of memberbanks to U.S. nonbank customers.

* New series. For "Other checkable deposits," see also note "$$" for this page.@ Small time deposits are those issued in amounts of less than $100,000. Large time

deposits 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.§ Number of issues represents number currently used; the change in number does not

affect the continuity of the series.@@ Annual data for 1978-82 and monthly data for 1982 have been revised to exclude

private placements. Monthly revisions for 1978-81 are not available.

Page S-161. The Aaa public utility average was suspended Jan. 17, 1984, because of a lack of

appropriate issues. The 1984 ranges for the average corporate and Aaa corporate do notinclude Aaa utilities after January 16.

§ 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.@ Data may not equal the sum of the geographic regions, or commodity groups and

principal commodities, because of revisions to the totals not reflected in the componentitems.

O As of Jan. 25, 1984, the base period was changed to 1982= 100.

Page S-171. Beginning with Jan. 1982 data, the Customs value is being substituted for the f.a.s.

value.# Includes data not shown separately.§ Data may not equal the sum of geographic regions, or commodity groups and principal

commodities, because of revisions to the totals not reflected in the components.

Page S-181. See note 1 for p. S-17.2. Annual total; quarterly or monthly revisions are not available.3. Before extraordinary and prior period items.4. For month shown.5. Domestic trunk operations only (averaging about 90 percent of domestic total).6. Restaurant sales index data represent hotels and motor hotels only.# Includes data for items not shown separately.§ Total revenues, expenses, and income for all groups of carriers also reflect nonsched-

uled service.$ Beginning Jan. 1977, Class I railroads are defined as those having operating revenues

of $50 million or more.O Average daily rent per room occupied, not scheduled rates.## Data represent entries to a national park for recreational use of the park, its services,

conveniences, and/or facilities.# New series.

Page S-191. Reported annual total; monthly revisions are not available.2. A portion of data is being withheld to avoid disclosing information for individual

companies; not comparable with other published data.3. A portion of data is being suppressed because of not meeting publication standards.

For nitrogen solutions, prior to May 1983, see also note 2 for this page.4. Figure is being suppressed because of not meeting publication standards.5. Effective with May 1984 SURVEY, data have been restated to represent thousands of

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.t Monthly data back to 1981 have been revised and are available upon request.# New series, first shown in the Mar. 1984 SURVEY. Annual and monthly data back to 1980

are available upon request.

Page S-201. Reported annual total; monthly or quarterly revisions are not available.2. Annual total includes data for Hawaii; not distributed to the months.§ Data are not wholly comparable from year to year because of changes from one classi-

fication to another.t Revised quarterly data for 1981 and 1982 are available upon request.<> Effective 1983, data are based on a new sample of approximately 150 establishments,

which was selected using the 1981 annual survey "Paints and Allied Products" panel as auniverse frame. Comparable data for 1979-82 are available upon request.

t Revised quarterly data for 1982 are available upon request.

Page S-211. Based on quotations for fewer than 12 months.2. Crop estimate for the year.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. Previous year's crop; new crop not reported until Oct. (beginning of new crop year).6. See note "@" for this page.7. Figure is preliminary and subject to change.8. Quarterly estimates of rye stocks will no longer be available; however, June 1 stock

estimates (representing previous year's crop) will continue to be published each year.9. Represents stocks as of June 1, based on previous year's crop.10. May 1 estimate of 1984 crop.§ Excludes pearl barley.# Bags of 100 Ibs.@ Data are quarterly except for June (covering Apr. and May) and Sept. (covering

June-Sept.).# New series, first shown in the Mar. 1984 SURVEY. Annual and monthly data for earlier

periods are available upon request.


Page S-22§ Cases of 30 dozen.O Bags of 132.276 Ibs.$ Monthly revisions for 1982 are available upon request.* New series, first shown in the Mar. 1984 SURVEY. Annual and monthly indexes cover-

ing wheat for earlier periods are available upon request.

Page S-231. Crop estimate for the year.2. Average for seven months; price not available for July, Aug., and Oct.-Dec.3. Annual total; monthly revisions are not available.4. Effective December 1983 SURVEY, the footwear production series have been revised

back to January 1981.# Totals include data for items not shown separately.* New series, first shown in the Mar. 1984 SURVEY. Annual and monthly indexes for

earlier periods are available upon request.t New series.

Page S-241. Annual data; monthly revisions not available.2. Less than 500 short tons.t New series.

Page S-251. Annual data; monthly revisions are not available.2. For month shown.t Beginning January 1982, data represent metallic (mostly aluminum) content. Data for

1981 and prior years represent aluminum content only.

Page S-261. Annual data; monthly revisions are not available.2. Less than 50 tons.O 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 pur-

chased for direct shipment.$ Source for monthly data: American Bureau of Metal Statistics. Source for annual

data: Bureau of Mines.# Includes data not shown separately.

Page S-271. Data withheld to avoid disclosing information for individual companies.2. Data are for five weeks; other months 4 weeks.# Includes data for items not shown separately.§ Includes nonmarketable catalyst coke.O Includes small amounts of "other hydrocarbons and alcohol new supply (field pro-

duction)," not shown separately.t Effective with the Nov. 1983 SURVEY, monthly revisions for 1982 are available upon

request.* New series. Includes U.S. produced and imported microwave ovens and combination

microwave oven/ranges.

Page S-281. Reported annual totals; revisions not allocated to the months.2. Effective with Jan. 1983, data include road oil. Total road oil data for 1982 were

(thous. bbl.): 591, domestic demand; 610, production; 47, stocks.t New series. First shown in March 1984 SURVEY. Earlier data are available upon

request.* New series, first shown in the Feb. 1984 SURVEY. Prices back to 1974 are available

upon request.# Includes data for items not shown separately.

Page S-291. See note 1 for p. S-28.2. Average for 11 months; no price available for Dec. 1983.O Source: American Paper Institute. Total U.S. estimated consumption by all newspa-

per users.t See note "t" for p. S-28.

Page S-301. Reported annual total; revisions not allocated to the months.2. Crop for the year.3. Data cover five weeks; other months, four weeks.4. See note "@" for this page.# Includes data for items not shown separately.O Cumulative ginnings to the end of month indicated.§ Bales of 480 Ibs.$ Beginning Jan. 1982, shipments include those for direct export; such shipments for

1981 were 2,165 thous. gross.t Monthly revisions for 1981 and 1982 are available upon request.@ Effective with the Mar. 1984 SURVEY, sales of regular basecoat and all other build-

ing plasters (including Keene's cement) have been combined to represent sales of totalbuilding plasters. For comparability, earlier published figures for these two series should becombined.

Page S-311. Monthly data discontinued for the year 1982; reinstated beginning Jan. 1983.2. 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. Average for 10 months; no data for Jan.-Feb.6. Less than 500 bales.7. Average for 9 months; no data for Oct.-Dec.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).

# Includes data not shown separately.* New series.

Page S-321. Annual total includes revisions not distributed to the months.2. Production of new vehicles (thous. of units) for May 1984: passenger cars, 713; trucks,

293.3. Effective with the Feb. 1984 SURVEY, data have been revised back to 1981 to reflect

updated seasonal factors and are available upon request.4. Monthly data discontinued for the year 1982; reinstated beginning Jan. 1983.5. Effective with the April 1984 SURVEY, data have been revised back to 4th Qtr. 1980

and are available upon request.# 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.

<> 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 Monthly revisions for aircraft shipments and airframe weight for 1982 are available

upon request. Monthly revisions for truck trailers, etc. for 1981 and 1982 are available uponrequest.

@ Includes passenger vans.* New series, first shown in the Mar. 1984 SURVEY. Annual and monthly data back to

1967 are available upon request.tt Includes Volkswagens produced in the U.S.


The Prime Rate

The prime rate is the interest rate banks charge their most creditworthybusiness customers for short-term loans. It is the base used to scaleupward the rates charged on most loans to other business customers. Theprime rate is not as sensitive as money market instrument rates, whichfluctuate daily in response to short-term changes in supply and demand.Rather, its movements tend to be infrequent, changing only by incre-ments of one quarter of a percentage point. Major banks tend to changetheir prime rate in response to increasing differentials with selected openmarket money rates.

The data are monthly averages computed by multiplying each "pre-dominant" prime rate (the rate charged by the majority of 30 large moneymarket banks) by the number of days it was in effect during the month,summing these products, and dividing by the number of days in themonth. The annual data are unweighted averages of the monthly averages.

For a discussion of the history of the prime rate and its role in thelending process, see "The Prime Rate," Monthly Review, Federal ReserveBank of New York, April and May 1962, pp. 54-59 and 70-73, respectively,,

Prime rate charged by banks on short-term business loans—present

Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Annual

1947 .194819491950

19511952195319541955

1956195719581959I960

19611962196319641965

196619671968 .19691970

19711972197319741975

19761977197819791980 . .. .

198119821983

1 501.752.00200

2.443003.003 25300

3504.004.344005.00

4504.504504.50450

5.005966.006958.50

6.295.186009.7310.05

7.006.2579311 7515.25

20.1615.75

.... 11.16

1.501.752.002.00

2.503.003.003 253.00

3.504.004.004005.00

4.504.504504.50450

5.005756.007008.50

5.884.756029.218.96

6.756.258.0011.7515.63

19.4316.5610.98

1.501.752.002.00

2.503.003.003 133.00

3504.004.004005.00

4.504.504504.50450

5.355716.007 248.39

5.444.756308.857.93

6.756.258.0011.7518.31

18.0516.5010.50

1.501.752.002.00

2.503.003.033003.00

3.654.003.834.005.00

4.504.504.504.50450

5.505.506.207.508.00

5.284.976.6110.027.50

6.756.258.0011.7519.77

17.1516.5010.50

1.501.752.002.00

2.503.003.253003.00

3.754.003.504.235.00

4.504.504.504.50450

5.505.506.507.508.00

5.465.007.0111.257.40

6.756.418.2711.7516.57

19.6116.5010.50

1.501.752.002.00

2.503.003.253.003.00

3.754.003.504.505.00

4.504.504.504.504.50

5.525.506.508.238.00

5.505.047.4911.547.07

7.206.758.6311.6512.63

20.0316.5010.50

1.501.752.002.00

2.503.003.253.003.00

3.754.003.504.505.00

4.504.504.504.504.50

5.755.506.508.508.00

5.915.258.3011.977.15

7.256.759.0011.5411.48

20.3916.2610.50

1.502.002.002.00

2.503.003.253.003.23

3.844.423.504.504.85

4.504.504.504.50450

5.885.506.508.508.00

6.005.279.2312.007.66

7.016.839.0111.9111.12

20.5014.3910.89

1.502.002.002.08

2.503.003.253.003.25

4.004.503.835.004.50

4.504.504.504.504.50

6.005.506.458.507.83

6.005.509.8612.007.88

7.007.139.4112.9012.23

20.0813.5011.00

1.502.002.002.25

2.623.003.253.003.40

4.004.504.005.004.50

4.504.504.504.50450

6.005.506.258.507.50

5.905.739.9411.687.96

6.777.529.9414.3913.79

18.4512.5211.00

1.502.002.002.25

2.753.003,253.003.50

4.004.504.005.004.50

4.504.504.504.504.50

6.005.686.258,507.28

5.525.759.7510.837.53

6.507.7510.9415.5516.06

16.8411.8511.00

1.752.002.002.25

2.853.003.253.003.50

4.004.504.005.004.50

4.504.504.504.504.92

6.006.006.608.506.92

5.495.799.7510.507.26

6.357.7511.5515.3020.35

15.7511.5011.00

1.521.852.002.07

2.563.003.173.053.16

3.774.203.834.484.82

4.504.504.504.504.54

5.635.636.317.957.91

5.725.258.0210.807.86

6.846.829.0612.6715.26

18.8714.8610.79

SECTIONSr1 i»General:

Business indicators ........................................... 1-5Commodity prices ........................................ 5, 6Construction and real estate .».....*.„.........,.....*. 7, 8Domestic trade ,..,.....................,..*..,..»„..*...,..... 8, 9Labor force, employment, and earnings........... 9-13Finance ..*.......*......«.«....«..................,,.,.».....,... 13-16Foreign 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 ....................................... 23

Lumber and products ....................................... 23, 24Metals and manufacturers .................... — .,... 24-27Petroleum, coal, and products ......................... 27, 28Pulp, paper, and paper products ...................... 28, 29

Rubber and rubber products ............................ 29Stone, clay, and glass products ........................ 30Textile products .„......„„„.,.*..,..„..................... 30-32Transportation equipment ......................... 32

Footnotes ....... ........... 33-35

INDIVIDUAL SERIES

Advertising „.„„„,..,.*....„........«...«.,.,„.„„.„„„...« 8, 12Aerospace vehicles ............................................... 32Agricultural loans .................... . 13Air carrier operations .......................................... 18Air conditioners (room).,..,.......,.,,.,,.,..,,.,............. 27Aircraft and parts .,.,.*,*.........,..* — ..,..*..,*..*.. — 4, 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, steei mills „„....„.„.«.,.„«„,.„..„.„», 3-5Bonds, prices, sales, yields .,«...„.„..„*...„.„......«. 15, 16Brick ..................................................................... 30Building and construction materials.................... 2, 4, 5Building costs ..,.«.«,..*..,...,,,......u......................... 7Building permits................................................... 7Business incorporation (new), failures ................ 5Business sales and inventories ............................. 2, 3Butter .................................................................... 21

Carpets „„.„.„„,....„......«..........,„...„.„*..........,..*..» 31Cattle and calves................................................... 22Cement . ...,...„ .....„..,..„..„.*..»„„.„......«....„ 30Chain-store sales, firms with 11 or more

stores (retail trade) ........................................... 9Cheese*...*........,........*..,,.......,...............,*.,.*.,..,.,,... 21Chemicals „,.„„,.....„.„„.,.»„... 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 equip-

Communica5on*"*«!. 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 Tiding (see Consumer Price Index).!........ 5, 6Cotton, raw and manufactures,,..*.,.,...,............. 5, 30, 31Credit, commercial bank, consumer .................... 14Crops.,........,***.......,.....,..........*,*,.**.*,.**,........ 5, 21, 23, 30fViirfp nit ' \ 27

Currency in circulation ............ ............................ 15

Dairy products ...,v............;..,.*,.,.*,,*.**.,...«.........,,, 5, 21Debt, U.S* Government .„„*„„*„..*„„,„..„......,..,..* 14Deflator, PCE ...................................................... 1Department stores, sales, inventories .................. 9Deposits, bank „„„....«..,.......,*,„„.„*„*.....,..«,...,.,, 13, 15

3g

Dishwashers and disposers....*..*,..,,*.,*,,..,......Disposition of personal income ....................Distilled spirits „ .,...........„...„...„.„......„„*Dividend payments .....................................Drugstores, sales * * . ,..*.*..«***», *« . .........Earnings, weekly and hourly ........................Eating and drinking places .........................Eggs and poultry ...........................................Electric power ...............................................Electrical machinery and equipment.,.........,,

.." ' '1Employee-hours, aggregate, and indexes......Employment and employment cost ...............Explosives..............,,.,..............,....,,,*...*.........Exports (see also individual commodities) ...

Failures, industrial and commercial .............Farm prices ...................................................Fats and oils ......„,*„..„.„.......«„.,»„..„.„.....„.Federal Government finance .........................Federal Reserve banks, large commercial....Federal Reserve member banks ....................Fertilizers ......................................................Fish,...............,*.,,*....,..,.........**,,,..*....,......,,....,Flooring, hardwood .......................................Flour, wheat ..................................................Food products .................... 2*6, 8, 10-12, 1Foreign trade (see also individual commod.)Freight cars (equipment) „.**;.,.*..„...„.„„.*„.„Fruits and vegetables „.„.„.„.„............,..,..„*.Fuel oil ........,„..,„.,*,....„.........„.......„*

Furnaces ........................................................Furniture........................................................

Gas, output, prices, sales, revenues ..............Gasoline .........................................................Glass and products »*„„»*..„..,......**.»*.*.*„.«„„«Glycerin .........................................................Gold «.....T!""!.*«.*rGrains and products ......................................Grocery stores .*..„.„........„**„.......„..„„.„..»„.Gypsum and products ...................................

Hardware stores ........................».,....,*....„.„...Heating equipment *.„...,...,„„*„.,».....,..,..»,.,*..,Help- wanted advertising index .... — .............Hides and skins ............,„.*..... .,.„..*..,.*.,Hogs ...............................................................Home loan banks, outstanding advances ...*.Home mortgages ...........................................Hotels, motor hotels and economy hotels .....Hours, average weekly ...................................Housefurnishings ..........................................Household appliances, radios, and televisionHousing starts and permits ...........................

Imports (see also individual commodities) ...Income, personal ...........................................Income and employment tax receipts ...........

By industryBy market grouping ........ * ................ *

Installment credit ...........................................Instruments and related products..,.,........,,...Interest and money rates ...............................Inventories, manufacturers' and trade ..........

', Inveritory»sales rates *«.............»*,................*,.<Iron and steel .............................................. 1

Labor force .«*.*.*......„,*....*,...*..*.«**«,*„„„.„..*..,•Lamb and mutton ..........................................Lead ................................................................Leather and products .............................. 2,Livestock ........... ....„*„.....„...........„.„.Loans, real estate, agricultural, bank (see

Consumer credit) , .. ........ . . ...... .Lubricants ,..Lumber and products ........................ 2, 6, 1

Machine tools .................................................Machinery ,.....„.*„...„....„...... 2-6, 10-12, liManufacturers' sales (or shipments), inventoi

orders ,*.»..•.......*.„..,.«.....«*..„„*,„*«„»„.*.»„»»..Manufacturing employment, unemploym

production workers, hours, earnings .........Manufacturing production indexes ................Meat animals and meats ................................Medical care ...................................................Metals...............*....,...........,,..,, 2-6, 10-1\JtiHfJVlIlK .............«...»....«.,......................*................Mining .. ,., * „,.Mobile homes, shipments, installment creditMonetary statistics ........................................Money and interest rates,........,,.,,.,.*,.,,,........Money supply .................... .......v....... .............Mortgage applications, loans, rates ...............Motor carriers .............. ...... ..*.... ......................Motor vehicles ..........*„*,... . 2-4, 6, 8, 1

271

201,15

12

5,222,202*5,

10-12,15,27....... 11........ 10-12,.,..„. 20.,...,„ 16-18

....... 55,6

.,....*, 17

........ 14„*.,... 13........ 13........ 19,„,„„ 22........ 24

LM7, 20-23...... 16-18....... 32........ 5.,.,,... 6,286,17, 27, 28

27... 2, 6, 8-12

„..„... 2,6,2028301914

... 5, 21,22i..... 9

30

26126

2288

1811

...2,4,6,8,9ets 27

7

— 17,181

14

1,2..... 1,2

142-4,10-12

14..... 3,4,9

32,15, 24, 25

9,102226

„ 2, 6,10-12, 235,22

8,1328

26

... 3-5it,... 10-12... 1,2... 5,22

615, 24-26

21, 2,10-12... 7,14

151415

8,13,1418

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................................... 14Paint and paint materials .Paper and products and pulp.

Parity ratio.......Passenger cars,.,Passports issuedPersonal consumption expendituresPersonal income.......Personal outlaysPetroleum and products

.....„,».„*„..„..... 20

...................... 2-4,6,10-12,15, 28, 29

.*„*.„..„..„„.„... 52-4,6,8,9,15,17,32

„.„....„ 18111

... 2-4,17, 27,28

24209

22... 5,22

1... 5,62,10-12

Pig iron .„.„..............,......„„„*.Plastics and resin materials...Population ..............................Pork.Poultry and eggs .................*........................Price deflator, implicit (PCE) ......„„„,*..*,,..Prices (see also individual commodities).....Printing and publishing................................Private sector employment, hours, « . . .

ings ....„......,..»*..„...................,,„..;,................„.. 10-12Producer Price Indexes (see also individual com-

modities) ........................................................... 6Profits, corporate.....*.*,......,.,..........*.*.*,...,,.,..,...... 15Public utilities.............................. ........ 1, 2,7,15,20Pulp and pulpwood............................................... 28Purchasing power of the dollar ..........................., 6

Radio and television.......—.—Railroads ...................................Ranges and microwave ovens ....Real estate..................................Receipts, U.S. Government....,.*,Refrigerators and freezers.........Registrations (new vehicles)......Rent (housing) ............................Retail trade ......„.».„„„„......„.,..,Rice....,...,..,,.,,,.............,.....,........Rubber and products (incl. plastics).,

Saving, personal.....................Savings and loan associationsSavings deposits.....................Securities issued,Security marketsServicesSheep and lambs.........Shoes and other footwear „Silver.,....,,,...,..,..,,.......,...,....,,,,,Spindle activity, cotton...........Steel and steel manufactures ..Stock market customer financing....Stock prices, yields, sales, etcStone, clay, glass products .....Sugar......................... ,,„„........,Sulfur .....,.....,„„.....«..............**;...,.................,..*... 19Sulfuric acid ...........*.*.....................,»,.»*.,.............. 19Superphosphate .................................................... 19Synthetic textile products .,.....,.....„...„.„.,„.,...,„. 31

Tea imports .......................................................... 23Telephone and telegraph carriers ........................ 19Textiles and products.............. 2-4,6,10-12,15,30, 31Tin „................„,...„.„.„„..........„...,...*,»..............., 26Tires and inner tubes ........................................... 29Tobacco and manufactures ....,„„..„,,,..«.. 2-4,10-12, 23Tractors................................................................ 27Trade (retoVfand"whoT^ 32Transit lines, urban.............................................. 18Transportation .................*..„... ..... 6,10-12,15,18Transportation equipment.. 2-6,10-12,15,17, 32Travel.......,,,.....,..............,...............................*.,... 18Truck trailers .....„„,„.........,............,„,.*.„„.»....... 32Trucks........,,,...................,..*.,.,...,. ,.........«„„„. 32

Unemployment and insuranceU.S. Government bonds...,U.S. Government financeUtilities ..»...*...„............

Vacuum cleaners ........Variety stores —„.....„Vegetables and fruits ,

Wages and salaries .....Washers and dryers ...,Water heatersWheat and wheat flour .....Wholesale trade.................Wood pulp ...... .............Wool and wool manufactures .

UNITED STATESGOVERNMENT PRINTING OFFICE

SUPERINTENDENT OF DOCUMENTS

WASHINGTON, D.C. 20402

Penalty for Private Use, $300